The Heikin Ashi Engulfing Bar Expert Advisor for Metatrader 5 opens a buy/sell trade position when it finds an engulfing bar on the trading chart.
The expert makes use of moving averages and two RSI filters to weed out bad trades.
This Forex robot can be used on any time frame and for any currency pair of your preference.
You can also apply this robot to CFD stocks, commodities, cryptocurrencies,…
Default EA settings:
Magic number, volume size, stop loss in pips, MA period, MA method, candle shift, upper level, lower level, candles period, exception candles,…
The default EA settings can be modified directly by editing the source code or changing the Forex robot’s input values.
It’s highly advised to test the Heikin Ashi Engulfing Bar EA for MT5 on a demo account first before running it on a live trading account.
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The chart below displays the Heikin Ashi Engulfing Bar Expert Advisor in action.
The blue buy arrow shows where the expert advisor opened a buy trade position. It closed the trade some bars later for a profit.
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More Info About This Expert Advisor
Recommended Currency pairs: Any + CFD Stocks + Commodities + Gold
Trading Platform: Metatrader 5 (MT5)
Time frames: Any
Expert Advisor Type: Price Action
Copy and paste the expert advisor in the MT5 experts data folder.
Then restart the MT5 terminal and attach it to any chart.