Free Forex Systems (MT4), Trend Following Systems

Heiken Trader

Heiken Trader is an advanced trend-following trading strategy that closely follows the past price action data and determines market trends as correctly as possible for identifying trade opportunities. This trading system is equipped with a double trend-filter in order to maintain a higher level of signal accuracy in live trading.

Heiken Trader is a versatile trading strategy and it can be applied to trade all kinds of forex currency pairs in the market. In addition, it can also be applied to trade on all sorts of timeframe charts within the MT4 trading platform.

Heiken Trader Overview

Download trader and install it in your MT4 system. After you’re done, your chart will transform like the following image:

Heiken Trader Overview

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Heiken Trader Explanation

Heiken Trader Explanation
  • Heiken Ashi Smoothed: It is an upgraded version of popular trend indicator Heiken Ashi. It applies its MA’s in a smoothed formula for minimizing the lagging issues. Price closes above its level mean the market is in a bullish trend. For a bearish trend, the price must be closed below its level. The indicator also changes its color while there is a change in the market trend for better understanding.
  • FXTrend V2 & Trend Lord: Both of these indicators have been included as a trend filter to the system. If the bullish trend is valid, the indicator bars will turn into blue color. Oppositely, all the bars turn red for signaling the validity of the bearish trend of the market. Before you make a market entry, make sure all the bars are signaling for the same trend at the same time.
  • Trend Arrows: This indicator provides assistance to understand the final trade signal generated by the main indicators of this trading strategy. It plots arrow signals as a confirmation of the trade signals at the main chart window. For long entry, wait until a series of green arrows below the price candle and for a short entry, the arrows must be plotted above the price candle being turned into a red color.

Also Try: Exness Forex Broker

Heiken Trader: Buy Conditions

Heiken Trader Buy Parameters
  • Price candles close above the Heiken Ashi Smoothed
  • Trend Arrows plots green arrow below the price candle
  • Both FXTrend V2 and Trend Lord turn blue
  • A long entry can be triggered when the above conditions are met
  • Set stop loss below the current Trend Arrow level
  • Exit long/take profit whenever the Heiken Ashi bars turn in to a red color

Heiken Trader: Sell Conditions

Heiken Trader Sell Parameters
  • Price candles close below the Heiken Ashi Smoothed
  • Trend Arrows plots red arrow below the price candle
  • Both FXTrend V2 and Trend Lord turn red
  • A short entry can be triggered when the above conditions are met
  • Set stop loss above the current Trend Arrow level
  • Exit short/take profit whenever the Heiken Ashi bars turn in to a green color

I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

1 thought on “Heiken Trader”

  1. Ive been backtesting this with a few other indicators. Both Fxtrend and Trend Lord are repainting. This resulted in a few bad trades.


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About Trend Following System

Trend Following System's goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money.

Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.
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