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Attachments: Maxpiper HA candles
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Maxpiper HA candles

  • #1
  • First Post: Edited 10:49pm Apr 15, 2012 10:04pm | Edited 10:49pm
Hello fellow traders am starting a New thread to start trading with Heiken Ashi Candles, with Multi time frame confirmation.

Indicators

Heikenashi Multi time frame indicator (30,240,1440 min respectively)

Entry:

Enter long from 30 min chart when the completed candle turns blue, At this stage one has to confirm that a 4 hr (240 min) HA is blue and also Daily (1440 min) HA is blue, then we enter long. Multiple entries can be be made in 30 min time frames as long as the three HA's confluence.(each time color changes from red to blue for long, remember 4hr and day HA's should be blue)

Enter Short Exactly opposite, enter on color change to red.

TP and exit targets:

You can keep the targets to 50 pips and stop loss to 30 pips. Exit also takes place once the HA 4hr candle changes its colour it could further cut down your stop loss in some cases to even 20 pips if you are at the dying end of the trade!

Remember to Break even once the trade moves 25 pips in your favor!

Ideal Entry time:

It could be good if you get some confluence in three HA time-frames few hours before London Open as the target of 50 can be achieved with ease.

I will be posting Charts soon!
My secret - "Logic must always prevail over emotion"
  • #2
  • Edited 11:37pm Apr 15, 2012 10:22pm | Edited 11:37pm
Attached are the Indicators i use HA mtf and Trading Sessions indicator.

1. HA indicator settings

Just open three HA windows and input three different times 30, 240, 1440 respectively to look for 30 min, 4hr and 1 day perspective.

2. Trading sessions indicator

Blueline = london open

White line = NY open

Red line = London close

The chart Shows confluence of all three HA's we enter with 50 pips target and our target is achieved!( remember if the 4hr candles change color if you are in a trade, get out!)

Cheers!
Attached Image (click to enlarge)
Click to Enlarge Name: EU.PNG Size: 79 KB
Attached File(s)
File Type: mq4 Heiken_AshiH_sw_mtf.mq4   6 KB | 1,025 downloads
File Type: ex4 Trading Session vLines.ex4   7 KB | 696 downloads
My secret - "Logic must always prevail over emotion"
  • #3
  • Apr 15, 2012 11:02pm Apr 15, 2012 11:02pm
Quoting maxpiper
Hello fellow traders am starting a New thread to start trading with Heiken Ashi Candles, with Multi time frame confirmation.

Indicators

Heikenashi Multi time frame indicator (30,240,1440 min respectively)

Entry:

Enter long from 30 min chart when the completed candle turns blue, At this stage one has to confirm that a 4 hr (240 min) HA is blue and also Daily (1440 min) HA is blue, then we enter long. Multiple entries can be be made in 30 min time frames as long as the three HA's confluence.(each time color...
Hi Max,

Congratulations for the new thread. Just for clarification, you are not using MTF Stoch 533 with this strategy, are you?

Do you find MTF HA gives much better results than MTF Stoch? And do you have backtest results for MTF HA?

I'd appreciate if you can compare both methods. I ask these because you said MTF stoch was very good but you are not using them here.

Thanks in advance.

Regards,
Blackeagle
  • #4
  • Apr 15, 2012 11:18pm Apr 15, 2012 11:18pm
Why didn't you 'trade' the failure signals in that chart? Hindsight is 20/20 .. Not discrediting the method but your charts, you are sharing are not complete. You are cherry picking the signals to show.
  • #5
  • Apr 15, 2012 11:31pm Apr 15, 2012 11:31pm
Quoting Blackeagle
Hi Max,

Congratulations for the new thread. Just for clarification, you are not using MTF Stoch 533 with this strategy, are you?

Do you find MTF HA gives much better results than MTF Stoch? And do you have backtest results for MTF HA?

I'd appreciate if you can compare both methods. I ask these because you said MTF stoch was very good but you are not using them here.

Thanks in advance.

Regards,
Blackeagle
Hello Blackeagle,

Yes have backtested HA's as well they seem to do equally good, am using just using HA for now. HA's needs to be forward tested. So i started this thread!

Hope we can reap some pips here!
My secret - "Logic must always prevail over emotion"
  • #6
  • Apr 15, 2012 11:35pm Apr 15, 2012 11:35pm
Quoting fxcatty
Why didn't you 'trade' the failure signals in that chart? Hindsight is 20/20 .. Not discrediting the method but your charts, you are sharing are not complete. You are cherry picking the signals to show.
Hello fx catty,

A good question, i have shown an ideal setup, it is for understanding the system. You should understand am not saying it as holy-grail, as i just showed the setup, if the trade fails i don't sink i enter according to the rules again. I just need 70 - 80% wins.

I will post my live charts up here in few hours time with my meta-trader trades. Hope we will see the system progress forward in coming days!
My secret - "Logic must always prevail over emotion"
  • #7
  • Apr 15, 2012 11:43pm Apr 15, 2012 11:43pm
[quote=maxpiper;5575025]Hello fx catty,

A good question, i have shown an ideal setup, it is for understanding the system. You should understand am not saying it as holy-grail, as i just showed the setup, if the trade fails i don't sink i enter according to the rules again. I just need 70 - 80% wins.

I will post my live charts up here in few hours time with my meta-trader trades. Hope we will see the system progress forward in coming days![/QU

--------------------------------------------------


Maybe adding cci and only taking 30 min ha signals when also cci is also overbought or oversold could help filter out bad signals.
  • #8
  • Apr 15, 2012 11:58pm Apr 15, 2012 11:58pm
Quoting cisco92111

Maybe adding cci and only taking 30 min ha signals when also cci is also overbought or oversold could help filter out bad signals.
hello cisco, As a basic rule of the method we don't trade on single time frame. we look daily for overall trend, 4hr for intermediate and 30 min for entry and 4hr for exit or 50 pips exit target! yes cci could be used, but am tryin to couple with Multi timeframe stocs, that could be Maxpiper HA 2.0 the next version, lets first ride this system mate!

cheers!
My secret - "Logic must always prevail over emotion"
  • #9
  • Apr 16, 2012 12:18am Apr 16, 2012 12:18am
Quoting maxpiper
hello cisco, As a basic rule of the method we don't trade on single time frame. we look daily for overall trend, 4hr for intermediate and 30 min for entry and 4hr for exit or 50 pips exit target! yes cci could be used, but am tryin to couple with Multi timeframe stocs, that could be Maxpiper HA 2.0 the next version, lets first ride this system mate!

cheers!
-------------------------------------------------------


Yes i meant to say is that when also the daily and 4 hour ha's are in agreement taking the trade when the 30 ha gives signal and cci is also in overbought or oversold.
  • #10
  • Apr 16, 2012 1:06am Apr 16, 2012 1:06am
Quoting cisco92111
Yes i meant to say is that when also the daily and 4 hour ha's are in agreement taking the trade when the 30 ha gives signal and cci is also in overbought or oversold.
Ok mate will look to it may be in next version!

cheers!
My secret - "Logic must always prevail over emotion"
  • #11
  • Apr 16, 2012 2:21am Apr 16, 2012 2:21am
Sorry to piss on your bbq but I've tried this and for some reason it doesn't work very well. It's not a profit maker long term. Heiken ashi candles on a higher timeframe are not a very good indicator of trend. A ha candle on a daily chart can remain one colour for a long time even though the price is rocketing in the opposite direction that you would expect. Heiken ashi candles on their own are not very useful, you must find something to confirm the trend and something else to trigger the trade. I've spent hours and hours on a trading simulator with ha candles and that's my take on it, you may find a method to prove me wrong?
  • #12
  • Apr 16, 2012 2:53am Apr 16, 2012 2:53am
Quoting Hugh Briss
Sorry to piss on your bbq but I've tried this and for some reason it doesn't work very well.
Welcome Hugh,

Yes i agree with you, Day Ha candles remain in same color for long time. But we trade only when all the three candles get aligned.

High profitable trade scenario:

1. wait for day candle to change colour

2. wait for the first change of HA in 4hrs, remember it is the first wave elliot, so high probablity the price will follow in that direcction.

3. then nail the entry with 30 min chart.

the above scenario is a more refined approach to trade with HA, although one could take the other waves, but this will lead to high probability win. No one at FF has taken this approach, they just simply look for alignment. you will learn as you go along!

cheers!
My secret - "Logic must always prevail over emotion"
  • #13
  • Apr 16, 2012 2:54am Apr 16, 2012 2:54am
Take todays EU chart and load it, you will see what i am taking about! at the start of the day there was confluence it had 70 pip run but we could have hit our 50 pip mark way before that.

cheers!
My secret - "Logic must always prevail over emotion"
  • #14
  • Apr 16, 2012 2:56am Apr 16, 2012 2:56am
Hi Maxpiper I would agree with Hugh.If you look at your thumb screen shot the 30 minchart would not agree with either 4hr or daily chart.If you are looking to get all colours to agree and line up the 4 hr chart would be from a couple of days ago and the daily chart from weeks ago. Look to the extreme right hand side ie that days 4hr and daily candle and both disagree with the 30 min chart. Sorry mate but looks a non starter. Dave
  • #15
  • Apr 16, 2012 3:00am Apr 16, 2012 3:00am
Quoting maxpiper
Take todays EU chart and load it, you will see what i am taking about! at the start of the day there was confluence it had 70 pip run but we could have hit our 50 pip mark way before that.

cheers!
Yes, when it works it works fine but there are many, many more times that it will fail. Like I said I have tested this type of thing to death. Up to you if you want to continue, I'm just trying to help.
  • #16
  • Apr 16, 2012 3:26am Apr 16, 2012 3:26am
Quoting Hugh Briss
Yes, when it works it works fine but there are many, many more times that it will fail. Like I said I have tested this type of thing to death. Up to you if you want to continue, I'm just trying to help.
thanks hugh, for you advice on hard road ahead, i see some potential in my eyes with this system. Every one does not see the world the same way i guess, lets wait for some time na. i will post pictures of my trade and also attach trade explorer soon to the thread.

cheers!
My secret - "Logic must always prevail over emotion"
  • #17
  • Apr 16, 2012 4:05am Apr 16, 2012 4:05am
Quoting maxpiper
thanks hugh, for you advice on hard road ahead, i see some potential in my eyes with this system. Every one does not see the world the same way i guess, lets wait for some time na. i will post pictures of my trade and also attach trade explorer soon to the thread.

cheers!
There is definitely potential for a system here somewhere but I'm just telling you my experience of many hours of back and forward testing with ha candles on multi timeframes. You need a better way to define the trend and a better trigger for the entry than just ha changes on their own even if they all do line up with higher timeframes. I know because it is one of the first things I tried because it seems such a logical idea.

Good luck with it anyway, I hope you can make it work as it is and that I can learn as you go along.
  • #18
  • Apr 16, 2012 4:24am Apr 16, 2012 4:24am
Quoting dave1945
Hi Maxpiper I would agree with Hugh.If you look at your thumb screen shot the 30 minchart would not agree with either 4hr or daily chart.If you are looking to get all colours to agree and line up the 4 hr chart would be from a couple of days ago and the daily chart from weeks ago. Look to the extreme right hand side ie that days 4hr and daily candle and both disagree with the 30 min chart. Sorry mate but looks a non starter. Dave
hi dave,

Oh you noticed the arrow and say they do not agree. i just pointed out that area, there you can see in that region there is confluence.

I once again say to naysers, just wait for the trade there might be 2 or 3 only per week. Got to be patient to trade this. Stop loss is 30 pips tp is 50 pips, A 70% win ratio would increase your profits handy.Remember to breakeven after 25 pips!

cheers!
My secret - "Logic must always prevail over emotion"
  • #19
  • Apr 16, 2012 4:53am Apr 16, 2012 4:53am
Hi Maxpiper, many thanks for sharing your finding.

As I can imagine, because of MTF indi nature, color of H4 and D1 HA will only be settled completely after the candles close. So during time before the close, H4 and D1 HA can change their colors back and forth. According to your this trading system, will we take signals during this time, as long as we see the harmony of color of all current M30, H4 and D1 together? Or we have to compare to the previous D1 HA color to get back to the direction of it (previous D1 HA I mean). Thank you for your further explanation.

Exciter135.
  • #20
  • Apr 16, 2012 5:15am Apr 16, 2012 5:15am
Hi Max...you cant back test by looking at the charts unless you have waited for the close of a day and the full close of a four hour period....the arrow as you have it on yr chart will not work as it changes in real time with the exception of the 30 minute candle
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