Heiken Ashi Smoothed Journal

I've been looking closely at Heiken Ashi Smoothed (HAS) indicator for some time to help identify longer term trends.

This journal is an experiment. For me, to see if I can have the discipline and patience to regularly post, and of course to see how the HAS indicator performs.

I should add that despite being in forex for a couple of years I am not yet showing any consistent profits and i'm rapidly coming to the conclusion that only simple trading of support/resistance in the direction of the trend is best way to made consistent gains in this game. That said, i'm going to give this a shot!

And yes, i'm too lazy to properly backtest this, although from a quick eye-balling it looks reasonable on some pairs.

Will explain more on entries and exits with future posts/screen shots but in summary:

Entry - on high/low of candles where the HAS has changed colour.
Exit - on colour change of HAS candle, price action, or stop loss.
Stop loss - either support/resistance or 500 pips
Currency pairs - E/U, G/U, E/J, U/J, U/Chf / E/Chf
Timeframe - Daily Charts (as I am a wage slave )

Jason

PS - i'm not trading this live.

OK, first set up. In the interests of risk management, i'll take the nearest stop (nearest of blue lines) which is 222 pips away.

Holla, where in the UK are you?

Interesting thread. I've been using the HA candles for some time now to help confirm direction and duration of move on GBP crosses only. I use the 4H chart instead of the Day. I will check back from time to time to see how you are doing. Thanks for putting this thread together.

Thanks for popping by Leon. I'm in central scotland - where are you?

Right, was out last night playing 5-a-side football so didn't manage to post.

UJ trade hit and looking good so far, stop still at original level and still in the trade.

Here are a couple of possible new trades - EURUSD and USDCHF. As you can tell, I am looking to enter at high/low of candle in which the HAS candle changed colour.

Just noticed that MT4 has chopped off my text labels on the charts. Since I can't be arsed re-doing them, blue is stop, yellow is entry point.

I'm just looking at the 3 charts i've posted, there are some beautiful HAS trends in them, that is what this thread is looking for!!

anyway, hope someone is finding this thread of interest - thanks Rapaduski1 for popping by!

Trade #1 (USDJPY long) still in play

Possble trades (EURUSD short and USDCHF long) not yet triggered

Another possible trade set up identified - GBPUSD long

Not looking too clever - currently down c. 120 pips. Keeping trade open as HAS candles haven't changed colour.

GU long - triggered today but sitting in negative territory. This one is on the demo account.

and no new set ups tonight

UJ: -222 pips

EURJPY short

Almost -500

EU short @ 1.3311

EJ short @ 121.31. in positive pips so far

UJ short @ 88.87

have to admit i'm not too impressed with the trades so far - basically sitting at nearly -722 pips, haven't hit any home run trends yet, but 1 good trend could wipe out a few poorer trades, so patience required!

Going forward I will only post trades taken as things are getting a bit confusing with all the potential trade set ups.

To recap trades so far

1. 05/01 UJ long: -222
2. 08/01 GU long: -500
3. 12/01 EU short: +160, still open
4. 12/01 EJ short: +397, still open
5. 13/02 UJ short: see below (new)

So, clawing some pips back but still early days. Hoping an ECB cut tomorrow will give further gains on the EUR trades.