5 min Heiken Ashi | Forex Factory

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5 min Heiken Ashi

  • #1
  • First Post: Edited Aug 18, 2009 2:04pm Aug 17, 2009 5:26am | Edited Aug 18, 2009 2:04pm
Time frame - 5 min
Pair - I trade only GBP/USD
Other info in file.

To be more profitable use 15 min 1 hour and 4 hour timeframes together

INFO:
http://www.forexfactory.com/showpost...84&postcount=6
http://www.forexfactory.com/showpost...0&postcount=21
Attached File(s)
File Type: doc Heiken Ashi.doc   73 KB | 1,632 downloads
File Type: mq4 Heiken_Ashi_Smoothed.mq4   4 KB | 1,041 downloads
File Type: tpl heiken.tpl   35 KB | 941 downloads
  • #2
  • Edited Aug 18, 2009 3:30am Aug 17, 2009 5:26am | Edited Aug 18, 2009 3:30am
Deals made:
1) +44 http://www.forexfactory.com/showpost...82&postcount=3
2) +29 http://www.forexfactory.com/showpost...13&postcount=7
3) -19 http://www.forexfactory.com/showpost...4&postcount=10
4) +19 http://www.forexfactory.com/showpost...4&postcount=11
5) +10 http://www.forexfactory.com/showpost...7&postcount=18
  • #3
  • Aug 17, 2009 5:31am Aug 17, 2009 5:31am
First profit today hit.
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  • #4
  • Aug 17, 2009 6:07am Aug 17, 2009 6:07am
Hello Trader100, what is your heiken setting ?
  • #5
  • Aug 17, 2009 6:13am Aug 17, 2009 6:13am
Quoting Thierry89
Hello Trader100, what is your heiken setting ?
Hi.
I've used many settings but somewhere in this forum (can't remember where) I read that 2-6-3-2 works really good. and it does. I'm using these settings for a while
  • #6
  • Aug 17, 2009 11:07am Aug 17, 2009 11:07am
Little more INFO.

If very big numbers are in the way of your take profit watch out. If they are in the way of my TP I exit my deals few pips below/above that level. By very big numbers I mean :
1.6000
1.6500
1.7000
1.7500
1.8000 etc.

That was one thing. The second.

''AT LEAST 2 CANDLES''

By this I mean that If we are in a down move and pullback is happening, we want for the pullback to be at least 2 heiken ashi candles long. If there is one candle price might continue but there is a possibility that price might turn around. That happened today. See pic. (This is not as a law. You can chose to take or not take these trades.)
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  • #7
  • Aug 17, 2009 11:19am Aug 17, 2009 11:19am
One more deal today. + 29 pips
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  • #8
  • Aug 17, 2009 11:41am Aug 17, 2009 11:41am
Quoting Trader100
Time frame - 5 min
Pair - I trade only GBP/USD
Other info in file.

I too only trade Cable - you'll find plenty of my posts if you're interested - so I'll keep dropping by to see how you're doing.

Good luck

Islander
Trading Levels with WRBs
  • #9
  • Aug 18, 2009 12:16am Aug 18, 2009 12:16am
Yesterday in last trade lost 19 pips by stupid mistake. See pic.

Yesterday:
+44
+29
-19
PROFIT +54 pips
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  • #10
  • Aug 18, 2009 12:28am Aug 18, 2009 12:28am
First profit today hit.
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  • #11
  • Aug 18, 2009 12:57am Aug 18, 2009 12:57am
Quoting Trader100
First profit today hit.

Nice trade - I wasnt up in time, but would have taken a similar one....price turned up off the 6325 Sweet Spot and ran up to the area of the 375 SS and today's DP at 6386 - todays high so far.....
Trading Levels with WRBs
  • #12
  • Aug 18, 2009 1:12am Aug 18, 2009 1:12am
Quoting Islander
Nice trade - I wasnt up in time, but would have taken a similar one....price turned up off the 6325 Sweet Spot and ran up to the area of the 375 SS and today's DP at 6386 - todays high so far.....
Try not to miss next one
  • #13
  • Aug 18, 2009 1:24am Aug 18, 2009 1:24am
Quoting Trader100
Try not to miss next one
I didnt...........after that wide range Big Dog spike at the Frankfurt Open there was no follow thru, so I sold and pirated pips as it retraced to the area of the DP / previous high.....now I've reversed into a long with a tight stop......
Trading Levels with WRBs
  • #14
  • Aug 18, 2009 2:59am Aug 18, 2009 2:59am
I don't understand.

You wrote:

Quote
*Price is in down move if last resistance level is not broken. When it’s broken we can start to think that price is in up move.


In this chart, you took a long when the last resistance level had not been broken.

I've marked the last resistance level with a green dot.
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  • #15
  • Aug 18, 2009 3:11am Aug 18, 2009 3:11am
I hope you understand

I'll post it very detailed soon
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  • #16
  • Aug 18, 2009 3:18am Aug 18, 2009 3:18am
This should be enough
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  • #17
  • Aug 18, 2009 3:30am Aug 18, 2009 3:30am
+ 10 pips. I got in a deal and price fell and almost hit my stoploss. When there was few pips left to my SL I entered trade one more time.
I got out of both trades cuz news are coming out in few mins.

with -2 on first trade
with +12 on second trade
Attached Image
  • #18
  • Aug 18, 2009 9:10am Aug 18, 2009 9:10am
Hello Trader100
Add Bbands-stop-v1 indicator on your .tpl and use it on 15 min TF .
Attached File(s)
File Type: ex4 BBands_Stop_v1.ex4   6 KB | 425 downloads
  • #19
  • Aug 18, 2009 9:11am Aug 18, 2009 9:11am
Quoting Samand
Hello Trader100
Add Bbands-stop-v1 indicator on your .tpl and use it on 15 min TF .
Let's see if it helps somehow.
Thanks
  • #20
  • Aug 18, 2009 10:07am Aug 18, 2009 10:07am
So anyway I wanted to show you how I trade this Heihen Ashi candle system.
Only Heiken Ashi candles work well but I have added Ichimoku cloud to my chart ( http://www.forexfactory.com/showthread.php?t=190646 here you can study ichimoku ).
I have added ONLY cloud.
If cloud is BLUE only buy. If cloud is RED only sell.
I take only those trades where you have to enter after first candle. If entery is confirmed on next candles I don't take the trade.

So go LONG:
*Ichimoku is BLUE
*Price is in UP move

And go SHORT:
*Ichimoku is RED
*Price is in DOWN move

EXAMPLE: [See pic]
Trades No.1,2,3 were profitable.
Trade No. 4 was a loss.

After trade No.4 I didn't take any trades, reasons:
I can not go LONG cuz Heiken Ashi last Support level (In blue rectangle) failed and I can not go SHORT cuz cloud is blue.
I don't take these ''First Trades'' (When S/R level is broken) cuz that's the moment when price is trying to decide to go up or down.
In this case (Blue rectangle) price broke through support, than resistance and than support again and again resistance but you can not see last brakeout in this pic. Price broke through S/R 4 times before decided where to go.

You might ask why I didn't take the trade in orange rectangle. Reason is cloud was red.

You porpobly want to know what is the best way to TP and where to place SL.
So stoploss. Usualy I place SL above/below last LOW or HIGH made by candles (NOT Heiken Ashi candles but candles).(Look at yellow rectangle. Some of you might place SL at red line. I'd place mine at green line cuz these few pips might save you. That's about trade No.2)

Take Profit is harder. I'm still looking for something better than Fibbo levels.
Where you take profit is up to you.

ONE MORE THING IS MULTIPLE TIMEFRAMES. CHECK EM OUT

Regards

This is 5 min chart
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