๐งฉ What is Heiken Ashi EA MT5?
The Heiken Ashi EA MT5 is an automated trading system that uses Heiken Ashi candles as its core trend-filtering logic. From the configuration panel, this Expert Advisorย (EA) is designed for trend-following and swing trading, with optional filters such as Moving Average (MA) and MACD, flexible money management and extensive trade management options.
This review breaks down every important parameter, explains how it affects trading behavior, and concludes with a practical evaluation of the EAโs overall strategy.
๐งฉ Core Trade Direction & Signal Logic
| Parameter | Value | Explanation |
|---|---|---|
| Allow Long | true | EA is allowed to open Buy positions |
| Allow Short | true | EA is allowed to open Sell positions |
| Minimum Distance for Same Direction Trades (Points) | 1,000,000 | Prevents opening multiple trades too close together in the same direction |
| Maximum Number of Trades per Heiken Ashi Change | 1000 | Allows multiple trades per HA trend change (effectively unlimited) |
| Stop Same HA Change Trades After Close | false | EA continues trading even after a trade closes in the same HA trend |
| New Signal on Heiken Ashi Candle | 2 | Signal confirmation after 2 Heiken Ashi candles, reducing false entries |
| First Session Trade on Next Signal | false | EA trades immediately when conditions are met |
๐ Insight: This configuration favors trend continuation, not scalping. The 2-candle confirmation strongly filters noise.
๐งฉ Lot Size & Risk Management
| Parameter | Value | Explanation |
|---|---|---|
| Lot Size | 0.01 | Fixed minimum lot size |
| Use Risk % | false | Risk-based position sizing disabled |
| Risk % | 0.0 | Not used |
| Magic Number | 5678 | Unique ID to manage EA trades |
| EA Comment | (empty) | No custom trade comment |
๐ Insight: The EA is running in fixed-lot mode, ideal for testing, cent accounts, or conservative trading.
๐งฉ Timeframe & Signal Filters
๐ถ Heiken Ashi & EA Timeframe
| Parameter | Value |
|---|---|
| EA Timeframe | current |
| Heiken Ashi Timeframe | current |
| Heiken Ashi Candle Type | Classic |
This means signals are generated on the same timeframe as the chart, maintaining consistency.
๐ถ Moving Average Filter (Disabled)
| Parameter | Value |
|---|---|
| Use MA Filter | false |
| MA Period | 14 |
| MA Method | Simple |
| MA Applied Price | Close price |
๐ Insight: The MA filter is available but not active, making Heiken Ashi the primary trend detector.
๐ถ MACD Filter (Disabled)
| Parameter | Value |
|---|---|
| Use MACD Filter | false |
| MACD Fast EMA | 12 |
| MACD Slow EMA | 26 |
| MACD Signal SMA | 9 |
| MACD Applied Price | Close price |
๐ Insight: MACD can be enabled later for stronger trend confirmation, but currently the EA trades purely on HA logic.
๐งฉ Trading Schedule & Time Control
| Parameter | Value |
|---|---|
| Start Hour | 0 |
| Start Minutes | 0 |
| End Hour | 23 |
| End Minutes | 59 |
| Trade Monday โ Sunday | true |
๐ Insight: The EA is allowed to trade 24/7, including weekends. This is suitable for crypto or synthetic indices, but not recommended for Forex weekends.
๐งฉ Spread & Execution Protection
| Parameter | Value |
|---|---|
| Max Spread (Points) | 100,000 |
| Max Slippage (Points) | 100,000 |
โ ๏ธ Warning: These values are extremely high and effectively disable spread & slippage protection. This can be dangerous during news or low-liquidity conditions.
๐งฉ Stop Loss, Take Profit & Trailing Logic
๐ถ Fixed SL/TP
| Parameter | Value |
|---|---|
| Use SL/TP | Points |
| Stop Loss (Points) | 1000 |
| Take Profit (Points) | 0 |
๐ Insight: Trades rely mainly on trend exit logic, not fixed take profit.
Trailing Stop (Disabled)
All trailing and ADR-based trailing parameters are set to 0, meaning:
- โ No trailing stop
- โ No break-even
- โ No ADR-based exits
๐งฉ Basket Trading & Global Management (Disabled)
| Feature | Status |
|---|---|
| Basket Take Profit | Disabled |
| Basket Stop Loss | Disabled |
| Basket Break Even | Disabled |
| Basket Trailing Stop | Disabled |
๐ Insight: Each trade is managed independently, not as a group.
๐งฉ Trade Exit Rules
| Parameter | Value | Explanation |
|---|---|---|
| Close by Opposite Signal | true | Trades close when HA trend reverses |
| Close by Opposite Heiken Ashi Candle | false | Only signal logic, not candle color |
| Close All Trades on Time | false | No forced time-based exit |
๐ Insight: This confirms a pure trend-following exit strategy using Heiken Ashi reversal logic.
๐งฉ Additional Smoothing & Indicators
| Parameter | Value |
|---|---|
| MA Method 1 | Smoothed |
| MA Period 1 | 6 |
| MA Method 2 | Linear Weighted |
| MA Period 2 | 2 |
๐ Insight: These settings enhance signal smoothing, helping reduce market noise.
๐งฉ Final Conclusion โ Is Heiken Ashi EA MT5 Good?
โ Strengths
- Strong trend-following logic using Heiken Ashi
- Clean and simple entry/exit rules
- Flexible filters (MA, MACD) for future optimization
- Suitable for swing trading & trend markets
โ ๏ธ Weaknesses
- No active trailing stop or break-even
- Extremely high spread & slippage limits (risky)
- Fixed lot size only (no risk-based scaling)
๐ฏ Best For:
- Traders who prefer clear trend systems
- Higher timeframes (H1, H4, D1)
- Manual optimization & forward testing
โ Not Ideal For:
- Scalping
- News trading
- Highly volatile sessions without risk controls
โญ Overall Rating
7.8 / 10
A solid Heiken Ashi trend EA for MT5, but it requires better risk and execution protection to be production-ready.
