No, not exactly. Before Heiken Ashi changes the color it usually becomes weaker. I mean: if the new Heiken Ashi candle is smaller than the previous one and if the body of the new Heiken Ashi candle is smaller than the body of the previous candle, it usually means, that the trend is close to the end and that we'd better exit before the trend changes.
But, of course, if the new candle is different color, I also exit.
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When the hour bar hits the BB stop, do you wait for the candle to CLOSE before entering the trade or do you enter the trade as soon as the candle hits the BB stop?
I have been entering the trade as soon as the candle hits the BB stop, instead of waiting for the candle to close, if my gut feel tells me that the movement in the direction of the break of the stop will continue.
If price breaks the stop and it starts stalling, especially if it is near a s/r level. I won't take the trade.
When the hour bar hits the BB stop, do you wait for the candle to CLOSE before entering the trade or do you enter the trade as soon as the candle hits the BB stop?
I have been entering the trade as soon as the candle hits the BB stop, instead of waiting for the candle to close, if my gut feel tells me that the movement in the direction of the break of the stop will continue.
If price breaks the stop and it starts stalling, especially if it is near a s/r level. I won't take the trade.
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When the hour bar hits the BB Stop, I check Heiken Ashi, and if the Heiken Ashi shows the same direction - I enter immediately. Otherwise I wait until the candle closes and after that I enter.
[font=Calibri][size=3]I’m not an expert in trading and I have only been trading for just over a year. However, in this year I have devoted around 12 hours per day, every week day and most Sunday nights to trading. I was a member of a paid teaching service for the first 6 months and have traded a live account on and off over the year. In the first 6 months I put 16 hours a day into trading and studying and researching and have tried many many strategies as well...
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iam new. how do i install these indicators on my ig index (u.k.) broker platform and get them to work ?
please find enclosed EA. This EA is only for demo accounts and backtesting, and MUST NOT be used for live trading because:
1/ EA does not check and process errors when orders placing;
2/ has not been tested except a few backtests.
Open/close position signal are calculated only on opening of a new bar. Therfore there is a parameter "rescue_stop" (in pips) to protect capital in case of huge spikes that will not be visible for EA until bar has been accomplished.
There is a RSI filter active when set to "true". In this case if daily RSI(14) is >= 50 only long trades will be taken. Short trades will be done only when indicator value will be <50 pts.
If " makelog" is set to "true" EA will sent its comments to journal window.
Hi guys, here's an update on my findings with this strategy so far:
I have been trying to devise a filter to keep us out of the tight ranging periods that are eating up the profits gained by the nice trends but so far have come up with nothing that effectively does this without cutting out some winners too.
When flicking to a 5m chart with the same settings this might be more profitable. the signals come much less often but it takes out a huge amount of losing trades.
For example today on cable 5m we had one entry which is currently up 85 pips. the entry is at the close of the candle where the red BBand is shown. Ignore the other indicators other than the red and green BBand blobs as those are for another scalping strategy.
Just glancing at the 5m chart things look alot better. The trouble is the entries don't always come during normal trading hours so an EA would be most beneficial.
iam new. how do i install these indicators on my ig index (u.k.) broker platform and get them to work ?
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Locate your MT4 installation folder, open the folder "experts" and there's another folder in there called "indicators. Drag the indicators in there and restart MT4. Then you can load up the template and it should look like the one in the first post.
I haven't tested this but I would suggest one very simple filter to increase probability. Only buy when the daily bar is above it's open and only sell when it is below. That's it. Sounds too simple but usually the simpler ideas are the best. Daily should start at 6:00GMT which is the start of London. You can eliminate this time variable from your broker by looking at hourly and determining exactly which bar is the start of London market. That will give you daily opening price based on 6:00GMT.
This method works with a lot of other systems and has been proven to increase probability. I typically only trade s/r and I find that my success ratio is higher by using this filter. It's only anecdotal evidence and I encourage people verify it for themselves.
