The Heiken Ashi robot is an expert advisor for MetaTrader 4 that uses Heiken Ashi candles to smooth price and identify momentum exhaustion. Its inverted mode aims to anticipate reversals by trading against strong trend signals, an interesting approach for studying price behavior.
How it works
In inverted mode, the robot sells when the latest Heiken Ashi candle is bullish, with a body larger than the previous one and no lower wick. It buys when the latest candle is bearish, with a larger body and no upper wick. Exits occur when the opposite exhaustion candle appears. The logic aims to capture turns early.
Configurable parameters
- Inverted: enables the inverted reversal strategy.
- Lots: fixed position size per trade.
- MM, ATR Period and ATR Multiplier: position management based on volatility.
- Risk, Slippage and Magic: risk per trade, slippage and order identifier.
Recommended requirements
- MetaTrader 4 with a low spread broker.
- Study its behavior on different timeframes before deciding to use it.
File contents: .mq4 source code ready to compile in MetaEditor. Use it first on DEMO for learning and validation purposes.
View the original robot documentation on EarnForex (Apache-2.0 license)
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