Bollinger Bands + MACD + Heikin-Ashi =$$$?
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Thread: Bollinger Bands + MACD + Heikin-Ashi =$$$?

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    yeschef's Avatar
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    Default Bollinger Bands + MACD + Heikin-Ashi =$$$?

    Hi. I am using Bollinger Bands set at 20,2 , MACD at 12, 26, 9 and Heikan-Ashi on the 1 min charts to signal buys and sells in the EUR/USD market and I have been able to make consistent, but small profits (8-10 pips) a turn. Does anyone have an opinion on the using these indicators and should I increase my profits by increasing my contract sizes or should I look for a longer term system? Also why do I never hear about Heikan-Ashi here or anywhere else?
    Last edited by yeschef; 02-27-2008 at 10:31 AM.

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    didjerdu's Avatar
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    Default heiken ashi

    Ok so this is purely an unscientific response to your question. Been looking around several currency pairs and again I'm no expert but this indicator looks better on higher time frames such as H4 and D. You could conceivably make a good profit by using just this but I would have several other indicators to justify taking profit or bailing out. PSAR is agreeable with this.

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    So you think I could could profit more if I use the same set up on 3hour (oanda doesnt have a 4H chart) I would be really worried to hold a position over many days. My account size would not allow me to ride the waves. I am trading mini-contracts.

    I don't like PSAR, I never had good experience using it.

    Do you think I could throw in RSI? What would the setting be?

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    Default Heiken Ashi

    What settings are you using?

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    yeschef's Avatar
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    Default Settings

    I am using Bollinger Bands set at 20,2 , MACD at 12, 26, 9 and Heikan-Ashi on the 1 min charts to signal buys and sells in the EUR/USD .

    My signals are when trend hits the top or bottom band, reverses and CLOSES. I buy or sell in the direction on the new trend. I use the same signal liquidate my previous position.

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    Default heiken ashi

    I don't have great results using RSI. That's just my opinion and could work for others. I just don't care to use it. I use Bill Williams Accelerator Oscillator with a Stoch 5,3,3 overlaid. It seems useful so far until something else comes into fashion. You'll get 101 different opinions on this site. None of which are true. You find the one that works for you. But you know this already!
    As far as keeping positions several days, I can empathise. However, the penchant for making more profit increases, as you know. I use incremental stops usually previous days low. Sometimes you get stopped out and then trend continues on its merry way. Dems de brakes.
    Thanks for sharing this on Heiken Ashi. I'm gonna demo it for a few weeks.

    Good luck to you.
    S.

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    Default Psar

    I don't like PSAR, I never had good experience using it.

    PSAR works very well on higher time frames: 3 hour and up. Catch a trend using bollinger bands. On uptrend, when first dot appears OUTSIDE the band take a position. Sell when upper dot appears either outside or inside BB. Now, here's the kicker As you know PSAR can be tricky because in most cases it will appear and stop you out early in continuing trend. So, you can use daily pivot points to determine support and resistance. Does this thoroughly blow your mind?

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    daedalus is offline Superior Master Contributor and Member
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    Anyone up to posting some screenshots of your setups?

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    Unhappy Psar

    [What setting do you use for PSAR? On 4 hr chart all of mine that should be outside appears inside band. My settings: Band 10,20, PSAR 0,02, 0,02, 0,2. Thanks.

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    Default Psar/bb

    Neznau,
    So, those are the correct settings. Now here's the kicker. No reason why you can't take a position inside the bands on 4 H. Just be sure you can justify taking that position. Here is a shot of my screen with Heiken Ashi...something I've been using for a day just to see. It's another embellishment....looks like Japanese candy.
    So, according to this chart I took a position at .9440 and held til .9660. See what I mean. Does it always go this wonderfully? Of course not....but I hope you get the idea.
    Cheers mate!
    S.
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