Does anyone have heiken ashi EA? 6 replies
Dislikedso does heiken ashi and candlesticks work hand in hand!!?!?
Cause heiken ashi's formulas is just the average of high, low, close, open. And candlesticks are just patterns that one should learn like reversal, continuation, etc.Ignored
DislikedThe Japanese candle sticks (heiken-ashi) is the best indicator in my opinion. 9 times out of ten I enter a trade at the beginning of a trend and exits befor it reverses. All do to the candles. I couldn't do this before having Steve Nison teach me how to read them in conjunction with the overall market. The candlesticks is a leading indicator. It will forcast the direction of the market. It will tell you if the trend is strong, will it reverse, and if so how much. Do yourself a service and learn and master the Japanese candlesticks. They will put a lot of dough in your pocket.Ignored
DislikedThe Japanese candle sticks (heiken-ashi) ...Steve Nison teach...Ignored
DislikedOne thing to take note on; Steve Nison does not mention "Heiken Ashi" candles in his book, but standard, kagi, renko, and three line break candles. The HA candles that are being discused in this particular thread are not a part of Steve's teachings. Just an FYI in case you thought of buying his (great!!) book on candlesticks thinking there was mention of HAs. There is not.
I do enjoy utilizing the MT4 HA indicator when using the shorter time frame charts such as the 5m...it smooths out the noise.
: ) ThomIgnored
Dislikedthere are some negatives associated with HA. (IMO)
this is a good primer.Ignored
Dislikedthe journalist who wrote this article is wrong:
"A wick on the top of a regular Up candle implies that selling pressure has moved the market back down from the high. Thus, I consider it misleading to see a high wick on a Heikin-Ashi up candle when no selling pressure is present. The inverse applies to low wicks. A wick on the bottom of a regular Down candle implies that buying pressure has moved the market off of the low. Again, it is misleading using conventional interpretation for low wicks to be present on a Heikin-Ashi down candle when no buying pressure is present."
No practicioner of HA would ever mistake an upward wick as selling pressure. quite the opposite. An upward wick represents buying strength.
He goes on to acknowledge that conventional interpretation is inappropriate for HA so why even mention this at all ?Ignored
DislikedYou don't know what a candle stick is I see. Read steve nison books on it. The candle do not tell averages, it tells wht is actuallly happening. If you fail to look at a candle signal as that you will lose every time. The Japanese candles is the only leading indicator that I know. Learn the signals, then compare it to any market you want and you will see the beauty of using this ancient art to get rich.Ignored