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Mister ED's 4 hour Heikin Ashi system

  • #141
  • Jul 20, 2009 5:31am Jul 20, 2009 5:31am
Quoting kitefighter
mister ed, i'm amazed at your system's success rate and with your patience in answering all the various questions and comments about your system on this forum!

i'm curious.....and i know this is off topic, but what type of work do you do?

and...how did you focus on this particular combination of indicators and rules to trade? any mentor? any trading system 'guru' you follow? how did it come to you?

again, many thanks for your openness and willingess to share your experiences with your system and all the nitty gritty details of it.......i really...
Hi Bruce

I happened upon these indicators by looking at lots and lots of systems on FF. This was developed from ideas from Paulus and Dreamliner. I do not have a mentor but also learnt a massive amount from Phillip Nel's 4 hour system. That is a very subjective system but all his input taught me a lot about trading. If anyone was my guru he was. He also showed a massive commitment to his thread and the traders that used it so I am trying to return the favour.

As for my work it is completely unrelated to trading and the financial world!

Mister ED
  • #142
  • Jul 20, 2009 5:54am Jul 20, 2009 5:54am
Hi Mister ED
On the picture you are measuring length candles starting from the bottom of the blue HA (149.80), I'm right?

But I do not understand how you define the top (152.61), the summit is far below bull candle?

Quoting Mister ED
Hi Zuma

Your assessment was correct. The signal candle was too small. It looks like it would have been a winning trade but it is not the way the system works.

I have attached a shot of my screen to show the difference that a different server time causes. My entry candle is too large!! This shows why people's data will be different and why it is improtant for everyone to do their own backtesting on their time scale.

Mister ED

Attachment
  • #143
  • Jul 20, 2009 6:10am Jul 20, 2009 6:10am
[/ATTACH]
Quoting ZumaFX
Hi Mister ED
On the picture you are measuring length candles starting from the bottom of the blue HA (149.80), I'm right?

But I do not understand how you define the top (152.61), the summit is far below bull candle?


Attached Image


Hi Zuma

I have marked the top and bottom of the signal candle. The candle height is 141 pips and the ATR is 66 at this point. This makes it outside the range for the system although I think it may well end up being a winning trade.

Mister ED
  • #144
  • Edited 6:20am Jul 20, 2009 6:17am | Edited 6:20am
Hi Zuma

Sorry looked at the wrong trade, here is the one you were looking at. The candle height etc is in yellow.

Signal candle height 106, ATR 99 therefore a good trade. TP1 is 99 (about 155.19 i.e. the close of the signal candle + ATR)

This is now on a trailing stop with about 67 pips locked in so far.

Sorry for the confusion

Mister ED


Attached Image
  • #145
  • Jul 20, 2009 6:20am Jul 20, 2009 6:20am

Thank you for your reply, I now better understand how the system works

My candle at GU has 55 pip ATR 66, 50% ATR 33, 200% ATR 132.

This means that you can vylo go to the trade as 55 pip more than 50% (33


Quoting Mister ED
[/ATTACH]



Attachment

Hi Zuma

I have marked the top and bottom of the signal candle. The candle height is 141 pips and the ATR is 66 at this point. This makes it outside the range for the system although I think it may well end up being a winning trade.

Mister ED
  • #146
  • Jul 20, 2009 6:30am Jul 20, 2009 6:30am

EURGBP soon may give a signal to sell

  • #147
  • Jul 20, 2009 7:11am Jul 20, 2009 7:11am
Thanks to piptalk I have known your strategy that seems good.
I'm now developing an EA and I think the next week to release the first version.
Hope you'd like it.

Thanks for sharing,
Massimo
I'll send a bottle of wine to my first voucherer ;-)
  • #148
  • Jul 20, 2009 7:17am Jul 20, 2009 7:17am
Quoting richboy1972
Thanks to piptalk I have known your strategy that seems good.
I'm now developing an EA and I think the next week to release the first version.
Hope you'd like it.

Thanks for sharing,
Massimo
Hi Massimo

I look forward to seeing it.

Yes EURGBP looks like it may show a signal on the next candle for me.

Mister ED
  • #149
  • Jul 20, 2009 7:26am Jul 20, 2009 7:26am
Mister Ed, could you please post the links to the same metatrader platforms you are using. it would be helpful to have the same 4 hour candles and avoid confusion.
Thanks
  • #150
  • Jul 20, 2009 9:00am Jul 20, 2009 9:00am
Hi Mr Ed,,,The gpb/usd has had a nice retracement ,,,,Would you consider taking this trade?
  • #151
  • Jul 20, 2009 9:33am Jul 20, 2009 9:33am
Quoting Pipquest
Mister Ed, could you please post the links to the same metatrader platforms you are using. it would be helpful to have the same 4 hour candles and avoid confusion.
Thanks
Hi Pipquest

http://www.metaquotes.net/downloads

The gold chart I get via FXDD

Mister ED
  • #152
  • Jul 20, 2009 9:36am Jul 20, 2009 9:36am
Quoting piptalk
Hi Mr Ed,,,The gpb/usd has had a nice retracement ,,,,Would you consider taking this trade?
Hi Piptalk

I would consider taking it on a break of the signal candle high (1.6514 for me) as it has retraced, but if it retraces past the 50% retracement I would probably leave it (1.6444)

Mister ED
  • #153
  • Jul 20, 2009 9:38am Jul 20, 2009 9:38am
Mister Ed, Thanks for the platform link for metaquotes! Now I can better Follow along.
  • #154
  • Edited 2:12pm Jul 20, 2009 9:57am | Edited 2:12pm
Quoting skissors
My EA does ignore < 50% and > 200% ATR candles and uses the top and bottom of the wick for long and short trails respectively. Soon I will add the option to select days that it places trades.


EDIT: I guess by "soon" I meant right away. Here it is, you can choose which days to trade.
Hi Skissors, I'm trying your EA with IBFX and am getting this error;
2009.07.20 10:55:31 Mister ED EA_skissors GBPJPY,H4: Error getting order

Any ideas?

EDIT: maybe account was to small. I created a new account with $5000 in it and it is working. Can you remove the account size limit issue if that was the problem?

Getting this error when testing;
2009.07.20 15:10:42 2009.06.08 17:50 Mister ED EA_skissors GBPJPYm,H1: OrderModify error 1
24 hours in a day – 24 bottles of beer in a case – Coincidence? I think not
  • #155
  • Jul 20, 2009 10:25am Jul 20, 2009 10:25am
HA just trigged sell signal from EURGBP but the candle is Bull, Does it mean that the market is not, if so then you need to wait for the next candle and then enter.
Attached Image (click to enlarge)
Click to Enlarge Name: mr ed gu 20072009.gif Size: 10 KB
  • #156
  • Jul 20, 2009 10:39am Jul 20, 2009 10:39am
Mr Ed,

I like this system very much. Just double checking one of the rules here. When the HA changes color (body and wick) does the PA candle have to be the same color. In other words if the HA goes from blue to red does the signal candle also have to be red to qualify as a signal?

Thank you,
Sandy
  • #157
  • Jul 20, 2009 12:39pm Jul 20, 2009 12:39pm
Quoting ZumaFX
HA just trigged sell signal from EURGBP but the candle is Bull, Does it mean that the market is not, if so then you need to wait for the next candle and then enter.
Hi Zuma

Your trade direction is governed by what the HA signs shows and not by what the price candlestick shows. Therefore you go short.

My charts are showing a short trade as well.

Mister ED
  • #158
  • Jul 20, 2009 12:55pm Jul 20, 2009 12:55pm
Ah, so the price candle color doesn't have to match the HA candle color? I may have misinterpreted what you wrote in the instructions document.
You are in a maze of twisty little passages, all alike.
  • #159
  • Jul 20, 2009 1:15pm Jul 20, 2009 1:15pm
Current position,,,gpb/usa-+ 31,,,,gpy/jpy +55,,eur/gpb -5 (new position) ,,,,,,
  • #160
  • Jul 20, 2009 1:15pm Jul 20, 2009 1:15pm
Quoting syracuse4x
Someone had asked about a Heiken Ashi Smoothed with email alerts, it should be attached to this post
Could you explain how we can set up the HA smoothed alert in tools of metatrader and what exactly does it do? Can you send a screen shot?

Many thanks
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