I was reading up on placing trades using MA's and using other indicators and came across this idea and just started to try it out:
In MT4 open 8x daily charts (any major and crosses) add 14 EMA and Heiken Ashi (as supplied with MT4).
Buy Signal: When the 14EMA is in an up trend and a white heiken ashi bar closes above the 14EMA. This is the signal. Enter when the next white bar (or it might be 2x bars away) exceeds the high of the signal bar. Place 200 pip SL and watch the trade evolve. You will need to check back and monitor daily.
Sell Signal: reverse to the above and Entry signal when the red bar exceeds the high of the signal candle. SL= 200.
I have checked it manually on a few charts and this is profitable.
It may take a few days or a week etc for a trade to evolve, but at least you can see trade setup.
Can someone please also test this and perhaps create an EA for this.
Let me know what you think.
times you can, the indicators and a template to give your strategy.
Indicators and Template
Ok, I have attached below the template a screen shot of a long entry. The green arrow indicates which bar to enter on as it has exceeded the high of the previous bar. The green horizontal line shows where the high of the prevous bar is.
Depending on the pairs volatility, I would put SL anywhere from 100-200pips and let it ride with daily checks.
Let me know how you go.
Here is the EA, but I got an extra advice for you. As usual, all the Moving Average/ Heiken Ashi based EA can get kill during ranging market. Good luck.
Many thanks for your efforts and assistance, greatly appreciated. I have loaded the EA onto various daily charts in a demo a/c and will post results in 7x days time as an update and see how we go.
I am trading this manually using 0.01 lots on a mini a/c and will give an update on this as well.
How is it coming along? Mind to update?
I am not at my PC which has the MT4 and your EA running on it to be able to give you exact update. I looked this morning briefly and demo a/c was up $523 (for a $5k a/c) and DD was $609.
I am also running the manual system on a live a/c and will update this later today.
anyone have ever made a normalized version on HA
I am looking for heiken ashi smoothed in a separate window and normalized so I can use it side by side with other indicator anyone pleaseeeeeeeeeeee have one post itttttttttttttttttttt.
Hi.. trie to find Mladen or MTF indicators...
None are the ones I am trying to find
The HA smoothed indicator has to be normalized in its own separate window so I can use other normalized indicator on top of the HA smoothed.
then you gonna get lag one mile long....