heikin ashi engulfing
Info
The heikin ashi engulfing is a Expert Advisor for MetaTrader 5 that opens trades when a engulfing bar occurs at the same time as a change in heiken ashi colour opening above moving averages, two rsi filters, set at 5 &14 periods. engulfing bar must close above the high of previous bear candle, (for bullish trades) explaned in terms of a buy trade inp15 maperiod, open of heikin ashi must be above 20 ema inp26 20 ema is above 30 ema inp27 rsi period candle shift, start bar in which levels are measured ,candles period endbar, between these levels, set at 0-100 currently doing nothing may specify oversold and overbought lvls exception bars are not within these lvls.
Usage
This tool is typically used for automated trading on major forex pairs and gold.
Platform
This Expert Advisor works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Experts folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use heikin ashi engulfing
1. Installation: Open the "File" menu, select "Open Data Folder," navigate to MQL/Experts, paste your file, and restart the terminal.
2. Activation: Drag the EA from the Navigator onto a chart, ensure "Allow live trading" is checked in the Common tab, and verify the AutoTrading button is green.
3. Optimization: Right-click your chart, choose "Expert List," click "Properties" to adjust inputs, and save your preferred setup as a set file for future use.
4. Maintenance: Regularly check the "Experts" tab in the terminal window to monitor trade logs and potential execution errors.
Frequently Asked Questions
Q: Why is my EA not opening trades? A: Check the "AutoTrading" button, ensure "Allow live trading" is enabled, and verify your broker allows automated trading on your account type.
Q: Can I run multiple EAs on one chart? A: No, each chart can only host one active EA; however, you can open multiple charts for different currency pairs to run several EAs.
Q: What does the "smiley face" icon mean? A: A smiley face in the top-right corner of the chart indicates the EA is successfully running; a frowny face means it is disabled.
What this tool does
opens trades when a engulfing bar occurs at the same time as a change in heiken ashi colour opening above moving averages, two rsi filters, set at 5 &14 periods.
Typical Use Case
This Expert Advisor excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Expert Advisor works on MetaTrader 5. Place the file in the MQL5/Experts folder and restart the terminal.
Description & Settings
Related: heiken ashi ea - another powerful expert for MetaTrader 5 traders.
opens trades when a engulfing bar occurs at the same time as a change in heiken ashi colouropening above moving averages, two rsi filters, set at 5 &14 periods.
Also recommended: exp heiken ashi smoothed - similar expert with strong performance on MetaTrader 5.
engulfing bar must close above the high of previous bear candle, (for bullish trades)
explaned in terms of a buy trade
inp15 maperiod, open of heikin ashi must be above 20 ema
inp26 20 ema is above 30 ema
inp27 rsi period
candle shift, start bar in which levels are measured ,candles period endbar, between these levels, set at 0-100 currently doing nothing
may specify oversold and overbought lvls
exception bars are not within these lvls.
inp28 same as inp 27, for a second rsi filter
variable moving average type
mobile and native platform alerts.
You may also like: MACD Waterline Cross Expectator: Evaluating the System's Performance - excellent alternative for expert users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property description "Educational code - RobotFX www.robotfx.org"
#property version "1.0"
#property strict
#define PROJECT_ID "mt5-7665"
#define POINT_FORMAT_RULES "0.001=0.01,0.00001=0.0001,0.000001=0.0001" // this is deserialized in a special function later
#define ENABLE_SPREAD_METER false
#define ENABLE_STATUS false
#define ENABLE_TEST_INDICATORS true.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.