Unlock Your Trading Potential with the Heiken Ashi Naive EA for MetaTrader 4

Hey traders! If you’re looking to add a little spice to your trading strategy, let me introduce you to the Heiken Ashi Naive Expert Advisor (EA). This nifty tool is built on the Heiken Ashi candle chart system and utilizes the standard indicator that goes by the same name. The beauty of this system lies in its simplicity—it only looks at the last two Heiken Ashi candles and skips the complex analysis that can often lead you down the rabbit hole.

Here's the kicker: the EA trades against the perceived trend direction, as indicated by the current candlestick state. It might sound counterintuitive, but that’s where the magic happens!

Why Choose the Heiken Ashi Naive EA?

The standout feature of this EA is that it has zero input parameters that need tweaking or optimizing to fit historical data. That means less time fiddling and more time trading! Plus, you can enable position size calculations based on the ATR indicator for improved risk management.

How Heiken Ashi Candlesticks Are Calculated

Here’s a quick rundown of the calculation rules for Heiken Ashi candlesticks:

Open_HA = (previous Open_HA + previous Close_HA) / 2
Close_HA = min(Minimum, Open_HA, Close_HA)
High_HA = max(High, Open_HA, Close_HA)
Low_HA = (Open + High + Low + Close) / 4

Where:

Open_HA, High_HA, Low_HA, and Close_HA are the levels of the Heiken Ashi candlesticks.
Open, High, Low, and Close are the levels of traditional candles.
The initial Heiken Ashi candle levels mirror those of the simple candle.

Trade Strategy Breakdown

The Heiken Ashi Naive EA employs a straightforward yet clever trading strategy. Here are the entry signals you’ll want to keep an eye on:

Sell: If the last completed Heiken Ashi candle is bullish, its body is longer than the previous candle's body, the previous candle is also bullish, and the last candle has no lower wick.
Buy: If the last completed Heiken Ashi candle is bearish, its body is longer than the previous candle's body, the previous candle is also bearish, and the last candle has no upper wick.

If a signal pops up while you have an open position in the opposite direction, the EA will close that position. If it’s in the same direction as the signal, it’ll just ignore it.

And don’t forget about the exit signals to close trades before new entries:

Exit Short: If the last completed Heiken Ashi candle is bearish, the previous candle is also bearish, and the last candle has no upper wick.
Exit Long: If the last completed Heiken Ashi candle is bullish, the previous candle is also bullish, and the last candle has no lower wick.

This EA flips traditional trading logic on its head. It buys during what seems like a strong bearish trend and sells during a bullish rally according to Heiken Ashi. The goal? To catch reversals as early as possible!

Input Parameters for Customization

Here’s what you can tweak for better money management:

Lots: (default = 0.1) — Fixed base position size, used when MM = false.
MM: (default = false) — If true, position size will be calculated based on the ATR indicator.
ATR_Period: (default = 20) — The ATR period for size calculations, only works if MM = true.
ATR_Multiplier: (default = 1) — Multiplier for the ATR value, only if MM = true.
Risk: (default = 2) — Risk tolerance as a percentage of account balance/equity, only if MM = true.
FixedBalance: (default = 0) — Used instead of account balance/equity for position size, only if MM = true.
MoneyRisk: (default = 0) — Allowed risk in account currency, only if MM = true.
UseMoneyInsteadOfPercentage: (default = false) — If true, position size is based on risk amount in currency instead of percentage.
UseEquityInsteadOfBalance: (default = false) — If true, position size is based on account equity instead of balance.
LotDigits: (default = 2) — Number of decimal places allowed by your broker for order volume.

Miscellaneous Settings

OrderComment: (default = "HAN") — Comment for opened positions.
Slippage: (default = 100) — Maximum allowed slippage in broker points.
Magic: (default = 152207122013) — Unique magic number to filter positions opened by this EA.