Chutes and Ladders

Hi everyone, this is my new trading system that i developed over the last few months. If you have been familiar with my other thread ha t3-1, you know that i have learned quite a bit about trading from those who are here on the forum and in other internet sites.

I believe in giving praise to those who have contributed to my learning and trading. For this system it would have to be kingx05 who started the spgm thread for his powerful insights and simplicity. And most importantly, my true king, jesus the christ! For the lightbulb moment when things just fell into place in my mind.

The spgm system is simple and very tradeable but to me it still left way too much discretion for any new traders, which i still consider myself to be. Anyways, more and more as i would trade my system and others i was always drawn back to pure price action. It's like i could not escape thinking about it and my quest to keep my trading as simple and uncomplicated as possible. That is when after much prayer and thinking about how to simplify things even more, i had my lightbulb moment.

I took my heiken ashi indicator which is a trend indicator and i modified it to draw a trend line instead of draw a histogram. Then i applied the principles that i learned from the spgm thread to this uncommon application of heiken ashi and the chutes and ladder system was born!!!

I believe this is the most simplest and easiest trading system there is. The only things that are discretionary are the timeframe you choose to use, the currency pairs you trade and the stoploss amount.

I will post the modified heiken ashi indicator below and then i will post how to trade this system in the first few posts. So please no posting until i am finished explaining how to trade this system.

I know that there are hundreds of staticians out there looking for numbers; please don't waste your time and ours. Look at the examples i will post and decide if you want to invest your time trying this system or to continue looking for something else. In my honest opinion, it does not get any easier than this.

I hope you all enjoy this system and make a lot of money using it!!! God bless everyone!!!!

Tonyb123

After, up trend the open of a new candle on the right side of the blue line enter a short trade. wait for candle that has arrow to close then enter the trade. blue line moves with the open of the candle.

After a down trend on the open of a new candle on the right side of the blue line enter a long trade. Simple.

Use a stoploss on all trades appropriate for the currency and timeframe you choose to trade. Exits at the latest would be a signal in the opposite direction of your last trade.

That is all there is to this system, if you like to get the trend of the larger timeframe then drop down to the lower time frame to place trades only in direction of larger time frame this system easily tells you the direction of the trend. Which way is price going on the right side of the blue line? That is the trend direction.

If you like a lot of action drop down to a 15 minute chart and trade the ups and downs.. It's up to you. Trade this straight off any time frame...simple.

Ok it's open to all interested!!!

Tony

Open to post if you like. Btw, indicator does not repaint.. It moves in real time.

Great ! i try tomorrow !!

what is the best TF ?

Best Regards..

Activemax

So you only wait for the candle to open not close on the right side.

when price moves it will move with the candle the blue line will move with the current price. when price move enough away from the previous candle high or low it will appear to have opened on the right side of the blue line. you must wait for this candle to close then enter trade in same direction.

A bit of a riskier trade is to open a trade when a candle opens right on the blue line. Look at some charts and see what you think about taking trades like that.

Great to see you back Tony! Downloaded template and checking the charts.

Thanks

Glad to have you here. Look forward to your insights!

Hmm it looks good with hindsight but when trading live you don't know what the blue line is gonna go. For instance, in your second post, first screenshot, first sell signal: when the candle opens the blue line was still at the candle before I imagine, there was no vertical blue line going down on the left.

What are you doing to me Tony? I'm almost ready to trade with your easy HA system. Now you have an even easier system. I look forward to seeing how this develops and gets better. I too followed SPGM and hope all is well with King. Please on behave of all newbie traders, I'll like to express gratitude for all that you and all the other great minds on this board have done.

Hi Tony,

I loved your other system. Only issue is it takes great patience on the setups.

On this, I guess I just "don't get it". I went through the LFH replay simulator and your trend line follows the current closing price, so I guess I don't see when the bar would 'open' outside of that trend line.

I am probably missing something but looking at a previous market, it looks great, but undergoing current market, then I don't see where the bar would ever open outside of the trendline.

Thanks,

Blue

Hi, how is the blue line calculated from the heikin ashi candles? I don't have metatrader so I can't try out your indicator.

Regards, Bob.

you have my attention with this one, tonyb123.

Thank you for sharing,

Ron

Hi tonyb123, what is the percentage of winning trades with this system?

how to recognize false signals?

Ps: Sorry for my eng i'm Italian.. ;-)

Tony,

This system, in fact, means that we should enter as soon as a new HA candle opens of different colour than previous one. (No matter if we use the blue line or HA candles, it is exactly the same.) Mission impossible, isn't it? Can be done only with a lot of discretion and good knowledge of PA. But the question is that if we can read PA so well - why do we need the Heiken Ashi or any other indicator at all?

Well done Tony!!!
I see a lot of potential with this.
Trade entry and exit are very clear which leaves time for trade management.
I have (4) pairs open with a 30min. and a 5min. for each.
I am just waiting for the markets to open.
My strategy will be to enter on a 30 min. setup as a intraday/ swing trade with 3 units.
Then scalp on the 5min. in the direction of the 30min. trade (trend) with 1 unit taking 5-15pips each setup.

Alternate strategy:
Start at a Daily or 240 chart setup with 1 unit and add on with each consecutive 30 min. setup..... close all at the larger time frame exit signal...

Thank you
I have been dormant with my trading for the last year.
This has re-invigorated my attitude...

KRMO