Heiken Ashi EA

Heiken Ashi Expert Advisor for MT4

Overview:

Expert adviser will open and close trades on charts that incorporates Heiken Ashi indicator.

Expert adviser will only trade in one direction. (buy or sell)

Expert adviser should be able to perform on all time frames and currencies.

Expert adviser should function with other Experts on other charts. (magic number)

Expert adviser should not trade if spread is greater than (X amount of pips)

Rules for entering buy trade (reversed for sell trades):

1. Price must break previous negative Heiken Ashi candle to the upside by (X) amount of pips. Previous candle must be negative Heiken Ashi candle for buy trade to be valid.

2. Ea will enter 2 buy positions simultaneously. Position #1 and position #2 should have separate profit target and stop loss options. (Fifo rules should be followed)

3. Ea should not look for new trades until position #1 and position #2 are either closed for profit or for loss. After profit or loss is reached EA should look for new trades immediately.

Stop Loss Rules:

1. Separate stop loss options for position #1 and position #2

2. Stop loss should have option to be set or trailing for both positions

3. There should be two types of stop losses, initial stop loss and stop loss after (X) amount of pips in profit is reached for both positions. Initial stop losses must be canceled to make way for new stop losses.

4. Adjusted stop loss must also have option to be set or trailing.

Take Profit Rules:

1. Position #1 and position #2 should have their own, separate take profit targets

Position Size Rules:

1. Position #1 and Position #2 should have separate lot sizes.

2. Lot size input should have two options – manual input or risk % of account based on initial stop loss.

EA input options:

1. Magic number

2. Trade direction (buy or sell)

3. Spread filter (if spread is greater than X amount of pips then ea should not looking for trades)

4. Position #1 lot size (manual, % risk of account based on initial stop loss)

5. Position #1 take profit target

6. Position #1 initial stop loss in pips

7. Position #1 adjusted stop loss in pips after (X pips profit is reached)

8. Position #2 lot size (manual, % risk of account based on initial stop loss)

9. Position #2 take profit target

10. Position #2 initial stop loss in pips

11. Position #2 adjusted stop loss in pips after (X pips profit is reached)