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Heiken Ashi System

  • #1
  • First Post: Oct 7, 2017 2:27pm Oct 7, 2017 2:27pm
Hi folks I found this template from another forum.

The way to trade it is different than the way I will suggest how you should trade it. My way is much more simpler.

You can trade it any time frame I use 1 hour.

Rule for long entry: Wait for a green(bullish) Heiken Ashi candle that has a flat bottom(like the entry I circled in the chart below) and enter long when the 1hr candle closes.
Sl: recent low of the heiken ashi candle
TP: as you can see from the chart i have 3 tp's all on the resistance lines.
Exit: Other than tp or sl its up to you to exit if you get opposite single candle. What I mean by this is consider your position when u get opposite signal; are you in profit? if you are you should exit, if not maybe adjust your sl. This is up to you. Make your own rules.
Opposite is true for short trades.


Additional conditions up to you: You should be careful not to trade into resistance or support lines( this is up to you)
You can also wait for divergence which is included in the template to take trades.

Use this with demo account first. You can also manual trade it (eyeball it) and see if it works for you.
tnx
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1.png Size: 78 KB
Attached File(s)
File Type: tpl 81+thv+munyuk.tpl   19 KB | 1,709 downloads
File Type: ex4 DT_HeikinAshi Candle.ex4   5 KB | 2,848 downloads
File Type: ex4 Fibonacci Pivots.ex4   5 KB | 1,849 downloads
File Type: ex4 StatMonitor_1.1-Phat-.ex4   5 KB | 1,760 downloads
File Type: ex4 THV3 Market Hours.ex4   10 KB | 1,783 downloads
File Type: ex4 THV3 Trix v4.01 Div~.ex4   30 KB | 2,008 downloads
  • #2
  • Oct 7, 2017 3:09pm Oct 7, 2017 3:09pm
Sure i will give it a shot and see how it pans for a few weeks
  • #3
  • Oct 7, 2017 3:54pm Oct 7, 2017 3:54pm
Quoting behold34
Sure i will give it a shot and see how it pans for a few weeks
Ok tnx

good luck
  • #4
  • Oct 7, 2017 4:12pm Oct 7, 2017 4:12pm
Hi..
Thank you for sharing your strategy...Heiken is my favorite indicator..
i have a suggestion for your strategy...if anybody wants to use this strategy in tight SL mode he can set SL over the flat L/H in last close candle...
if position close by SL it position will close with little loss and flat bottom heiken candle is denied and signal is failed...so trader can wait for second entry in current trend or opposite signal ..
  • #5
  • Oct 7, 2017 4:58pm Oct 7, 2017 4:58pm
This looks promising Hibra68. Do you suggest that the flat bottomed candle should be from the first of its colour to appear OR would you still trade it if it were the second, third or fourth candle?
  • #6
  • Oct 7, 2017 5:12pm Oct 7, 2017 5:12pm
Quoting bomax2000
This looks promising Hibra68. Do you suggest that the flat bottomed candle should be from the first of its colour to appear OR would you still trade it if it were the second, third or fourth candle?
bomax, i didnt really test it . but i will give examples of candles to avoid. these candles are suggested by the author. however i like to test things myself.
for example i am looking at gaps. there are gaps between flat candles that seem to reverse the trade.
Also i might not avoid every candle that the author suggests. I will post these later.

you should test out how entering on first candle works.
i suggest splitting the screen and checking out how it works out with regular candles. Enter and exit trades when ha candles close but check out what happened in regular candles after.
  • #7
  • Oct 7, 2017 6:15pm Oct 7, 2017 6:15pm
Here are candles to avoid according to author.

However like I said you could choose to observe some candles. For example the doji I would not avoid, I would bring my trade to break even or below/above the doji candle if I was in profit. Its all up to you how to trade but the flat candles are best for sure.
Attached Image
  • #8
  • Oct 7, 2017 6:21pm Oct 7, 2017 6:21pm
Here are the gaps that I was talking about earlier. These gaps could be studied to see if they are reliable as a reversal sign.
Attached Image (click to enlarge)
Click to Enlarge Name: AUDUSDH1.png Size: 56 KB
  • #10
  • Oct 8, 2017 12:54am Oct 8, 2017 12:54am
Quoting hibra68
{quote} bomax, i didnt really test it . but i will give examples of candles to avoid. these candles are suggested by the author. however i like to test things myself. for example i am looking at gaps. there are gaps between flat candles that seem to reverse the trade. Also i might not avoid every candle that the author suggests. I will post these later. you should test out how entering on first candle works. i suggest splitting the screen and checking out how it works out with regular candles. Enter and exit trades when ha candles close but check...
Thanks mate! I will definitely check it out and see if I can provide any extra insight. Thank you for sharing!
  • #11
  • Oct 8, 2017 12:35pm Oct 8, 2017 12:35pm
Quoting bomax2000
{quote} Thanks mate! I will definitely check it out and see if I can provide any extra insight. Thank you for sharing!
no problem.
  • #12
  • Oct 8, 2017 6:53pm Oct 8, 2017 6:53pm
I'm working on a scalping system based on this. Pretty soon. coming.
  • #13
  • Oct 9, 2017 3:42pm Oct 9, 2017 3:42pm
Quoting hibra68
I'm working on a scalping system based on this. Pretty soon. coming.
ok so far i am not seeing any interest. so i wont pursue the scalp idea. however, i hope bomax can take over the thread and continue. i will start a new thread with different indicators.
p.s. the basic idea behind scalping was to use 2 different timeframes. e.g. 5 min to have at least 3 flat candles for established trend. wait for 1min candle for pullback than back to trend direction and take trade.
  • #14
  • Jan 30, 2020 9:25am Jan 30, 2020 9:25am
Quoting hibra68
Hi folks I found this template from another forum. The way to trade it is different than the way I will suggest how you should trade it. My way is much more simpler. You can trade it any time frame I use 1 hour. Rule for long entry: Wait for a green(bullish) Heiken Ashi candle that has a flat bottom(like the entry I circled in the chart below) and enter long when the 1hr candle closes. Sl: recent low of the heiken ashi candle TP: as you can see from the chart i have 3 tp's all on the resistance lines. Exit: Other than tp or sl its up to you to exit...
I am really grateful Hibra68.
Been using the same and getting great results mate. Cheers Man. When i get my account to above 100k, i will not forget to say thank you in Kind. I am up 50k. Did not want to communicate. Its more than three months when i got the same. Thank You.
  • #15
  • Jan 30, 2020 10:37am Jan 30, 2020 10:37am
Quoting EliteTrader0
{quote} I am really grateful Hibra68. Been using the same and getting great results mate. Cheers Man. When i get my account to above 100k, i will not forget to say thank you in Kind. I am up 50k. Did not want to communicate. Its more than three months when i got the same. Thank You.
No problem, Im glad it is making you money.
  • #16
  • Jan 30, 2020 10:41am Jan 30, 2020 10:41am
Quoting hibra68
{quote} No problem, Im glad it is making you money.
Hi Hibra
Are you still trading this strategy?
  • #17
  • Jan 30, 2020 10:53am Jan 30, 2020 10:53am
Why you need the Trix Indictor ? If you just trade the HA Candles? I don't understand it.
  • #18
  • Jan 30, 2020 11:09am Jan 30, 2020 11:09am
Hi Hibra68, thanks for sharing this strategy. I subscribed and am going to give it a serious look on H1 TF.
  • #19
  • Jan 30, 2020 11:53am Jan 30, 2020 11:53am
Quoting pundit78
{quote} Hi Hibra Are you still trading this strategy?
No. I moved on because there was no interest. But I am looking at it again.
  • #20
  • Jan 30, 2020 11:58am Jan 30, 2020 11:58am
Quoting bobby2
Hi Hibra68, thanks for sharing this strategy. I subscribed and am going to give it a serious look on H1 TF.
No problem. Everyone can use their own rules so the outcomes can be different.
If elitetrader 0 can share his exact rules it can benefit everyone.
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