Requests & Ideas, the beginning - page 269

Sergey Golubev
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Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Something Interesting

Sergey Golubev, 2016.07.13 11:36

How To Trade - Heiken Ashi indicator and How Does It Work (adapted from the article)

Heikin-Ashi chart looks like the candlestick chart, but the method of calculation and plotting of the candles on the Heikin-Ashi chart is different from the candlestick chart. In candlestick charts, each candlestick shows four different prices: Open, Close, High and Low price.


But Heikin-Ashi candles are different and each candle is calculated and plotted using some information from the previous candle:

1- Open price: the open price in a Heikin-Ashi candle is the average of the open and close of the previous candle.
2- Close price: the close price in a Heikin-Ashi candle is the average of open, close, high and low prices.
3- High price: the high price in a Heikin-Ashi candle is chosen from one of the high, open and close price of which has the highest value.
4- Low price: the low price in a Heikin-Ashi candle is chosen from one of the low, open and close price of which has the lowest value.

So candles of a Heikin-Ashi chart are related to each other because the open price of each candle should be calculated using the previous candle close and open prices, and also the high and low price of each candle is affected by the previous candle. So a Heikin-Ashi chart is slower than a candlestick chart and its signals are delayed.


The Heikin-Ashi chart is delayed and the candlestick chart is much faster and helps us to make more profit. Why should we use a Heikin-Ashi chart then? As it was already explained, because of the delay that the Heikin-Ashi chart has, it has less number of false signals and prevent us from trading against the market. On the other hand, Heikin-Ashi candles are easier to read because unlike the candlesticks they don’t have too many different patterns.

Free to Download

There are many Heiken Ashi indicators (and EA) on MT5 CodeBase, for example :

Trading signals module based on Heiken_Ashi_Smoothed indicator

Heiken_Ashi_Smoothed_HTF_Signal

Heiken Ashi Smoothed

Heiken-Ashi

========

An Example of a Trading System Based on a Heiken-Ashi Indicator

Heiken Ashi based EA

Sergey Golubev
Moderator
119450
Sergey Golubev  
Suggestions for Trading System thread 
Sergey Golubev
Moderator
119450
Sergey Golubev  

I want to remind the following links:

MetaTrader 5 Help - Open an Account

MetaTrader 5 Android OS Help - Opening a Demo Account 

MetaTrader 5 iPhone/iPad HelpConnecting to an Account and Opening a Demo Account 

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

Simplified way to request a real account in MetaTrader 5 Android

Open an Account - Getting Started - MetaTrader 5 Help
Open an Account - Getting Started - MetaTrader 5 Help
  • www.metatrader5.com
Two types of accounts are available in the trading platform: demonstration (demo) and real. Demo accounts provide the opportunity to work in a...
qasd
55
qasd  

GE Mladen and Mtiwana Sirs

i have found the following indicators in this forum

1. TriangularMA centered bands - mtf - alerts......Does this repaint as i read it somewhere?

2. EMA extrapolated keeps on changing 

If these do repaint could you help and tell some other indicators

Thank you in advance'

Mladen Rakic
201187
Mladen Rakic  
qasd:

GE Mladen and Mtiwana Sirs

i have found the following indicators in this forum

1. TriangularMA centered bands - mtf - alerts......Does this repaint as i read it somewhere?

2. EMA extrapolated keeps on changing 

If these do repaint could you help and tell some other indicators

Thank you in advance'

Of centered TMA - check this thread : https://www.mql5.com/en/forum/181241

Of extrapolated EMA : any extrapolation is a subject of changing - there is no extrapolation made (yet) that does not do that if the underlying data changes

Triangular moving average (TMA) ...
Triangular moving average (TMA) ...
  • 2012.04.02
  • www.mql5.com
The purpose of this thread is more personal ... At some stage (some 4 years ago, posted it at this post : https://www.forex-tsd...
qasd
55
qasd  
Mladen Rakic:

Of centered TMA - check this thread : https://www.mql5.com/en/forum/181241

Of extrapolated EMA : any extrapolation is a subject of changing - there is no extrapolation made (yet) that does not do that if the underlying data changes


Sir

What i felt was that the line crossed some candles and then after some time the line moved away from them and then came back again and crossed them. IF a postion is taken based on this then the criteria followed get changed . is this the way postion shud be taken or is it bad?

thanks

Mladen Rakic
201187
Mladen Rakic  
qasd:

Sir

What i felt was that the line crossed some candles and then after some time the line moved away from them and then came back again and crossed them. IF a postion is taken based on this then the criteria followed get changed . is this the way postion shud be taken or is it bad?

thanks

That is a fitting indicator

As with all fitting indicators you should not trade it as signals, but as estimation


You could read this : https://en.wikipedia.org/wiki/Extrapolation for some more information of what is extrapolation and how could it be used


Extrapolation - Wikipedia
Extrapolation - Wikipedia
  • en.wikipedia.org
In mathematics, extrapolation is the process of estimating, beyond the original observation range, the value of a variable on the basis of its relationship with another variable. It is similar to interpolation, which produces estimates between known observations, but extrapolation is subject to greater uncertainty and a higher risk of producing...
qasd
55
qasd  

Thank you so much.

I am reading the links. Meanwhile can u suggest any other band indicator which can be used as a signal and which wont change postion later

Thanks and Regards

Mladen Rakic
201187
Mladen Rakic  
qasd:

Thank you so much.

I am reading the links. Meanwhile can u suggest any other band indicator which can be used as a signal and which wont change postion later

Thanks and Regards

Try some like :

  1. Bollinger bands
  2. Standard error bands
  3. Keltner channel
  4. Kalman filter with asymmetric bands

and so on and on and on ...

Sergey Golubev
Moderator
119450
Sergey Golubev  

Forum on trading, automated trading systems and testing trading strategies

Something Interesting to Read

Sergey Golubev, 2017.09.16 05:40

Expert Advisor Programming for MetaTrader 4


This book will teach you the following concepts:

  • The basic of the MLQ4 language, including variables and data types, operations, conditional and loop operators, functions, classes and objects, event handlers and more.
  • Place, modify and close market and pending orders.
  • Add a stop loss and/or take profit price to an individual order, or to multiple orders.
  • Close orders individually or by order type.
  • Get a total of all currently opened orders.
  • Work with OHLC bar data and locate basic candlestick patterns.
  • Find the highest high and lowest low of recent bars.
  • Work with MetaTrader’s built-in indicators, as well as custom indicators.
  • Add a trailing stop or break even stop feature to an expert advisor.
  • Use money management and lot size verification techniques.
  • Add a flexible trading timer to an expert advisor.
  • Construct several types of trading systems, including trend, counter-trend and breakout systems.
  • Add alert, emails, sounds and other notifications.
  • Add and manipulate chart objects.
  • Read and write to CSV files.
  • Construct basic indicators, scripts and libraries.
  • Learn how to effective debug your programs, and use the Strategy Tester to test your strategies.

All of the source code in this book is available for download, including an expert advisor framework that allows you to build robust and fully-featured expert advisors with minimal effort.