But typical of us all traders, we need all of them confirming indicators which tend to clutter our chart. Well, more on that later on, including the 89EMA, 20EMA, and RSI.
This is just the beginning of our journey to a profitable HAMA trading. Enjoy!
Your Heiken bars are very distinct from the price bars in the chart displayed. How did you get to displace away from the price chart?
HAMA Trading Confirmations
Let me first thank raff1410 for the Heiken Ashi MA and FX Sniper for throwing in the EMA Channel. Their contributions put my P.A.D trading system into high gear profitability.
Now, here comes the basic chart clutter. Like I previously mentioned, most of us need that extra assurance by using confirming indicators. In the snag shot attached, you will see the following indicators added to the HAMA which will answer some of the questions posted earlier:
- EMA Channel - lime color - gives us another look at the developing trend. You will later observe that it contracts when the market is ranging or flat (mostly during the Asian session). Again, we trade long above the upper band and short below. You can use this as an exit point, when the HAMA price bars start to touch it.
- EMA89 - gold color - I carried this one from my PAD system trading e mini futures. It's a fibonacci number, I was told, and just gives me another trend confirming indicator. Again, uptrend above EMA89 and downtrend below.
- - - Typically, I don't go against the trend. After all it's our friend. Unless, I deploy my counter trend and breakout indicators within this HAMA system.
- NonLagMA v5 - thanks to newdigital for this one, among his many contributions to this TSD community - I use 2 of these indicators:
- - - one default setting, color 1. You may use this for your entry and/or exit.
- - - another one, set at filter 14, color 1. This one will give me an idea on flat or ranging market. You can modify your setting to suit your style. I will usually add another lot or 2 when it breaks from this market condition to the direction of the trend.
- HA Signal Alert - or you can use the EJ Alert or Asc Trend Alert - set at RISK 1. This just gives an early warning, and at times late , of possible trade set up.
There you go, you just got confirmed. This is as simple as it can be trading HAMA. Again, this is just one trade set up idea. From here, you can tailor it to your trading style, profit objective, and money management. This is not one of those system that its only gonna be done one way, their way. Make it your way.
Hi FX cruiser
How do you get the red and blue bars displaced from the normal Heiken-ashi bars, is there and indicator that does this or how do you set it up?
Check you PM. Thanks.
many thanks for sharing your ideas and template.
On your chart in post #13 i noticed red and yellow arrows,
would be grateful if you could post the indicator for that.
thanks for starting this thread. you stirred up a lot of interest in Heiken Ashi indicator. pls. pm me your e mail address and i will send you the HAMA PAD set. I am considering starting a new thread for the Heiken Ashi, as I coined it HAMA PAD trading plan to continue our discussion and increase our profitability in forex trading using these tools. What do you think?
Have already PM'd you back with relavent details.
got it, fred. i am at the 5th rock from the sun and its almost 11 pm. i can use some sleep. i will take of it in the morning, somewhere in Asia time. meantime, we had excellent pips on 4 majors beginning from euro to ny session.
watch your email sometime, whenever on your 3rd rock from the sun. ENJOY! It's LIFE and make the most out of it.
Nice short with Haikin MAs
HAMA PAD Trade
Sure is, Zendo. I hope to start the new thread on HAMA PAD trading tomorrow. Keep an eye on it and please come participate and discuss with us the simplicity of this approach.
Enjoy and good nite. Zzzzzzzzzzz!