Hello, you can use the min_bar setting “3” for more accurate entries but “2” work very well and will provide more entries.
thanks
New entry setup, lets see how it turns out.
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The trade is developing nicely, up approx 4 pips. Not bad considering the time of day.
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The move went for 20 pips and now we got an entry for a sell.
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Blizard, in your instructions for using Heiken-Ashi, you said use “the first closed … ASHI Candle” for entry. You have your arrows on the first Ashi Candle of reverse color, so, it is not yet a closed candle. As you know, Ashi colors can also repaint. So to truely enter on first closed Ashi candle, you have to enter on the open of the candle following the “confirming color” ashi candle (unless you are using a candle counter and you enter on the last few seconds of the candle). Am I not correct? Or do you just risk the repainting of the canlde.
As per my usual, throwing to gether an EA with the new specifications.
Also, you note stop loss on the ZigZag dot. Do you also close a winning trade when you get a reverse entry condition?
Thanks.
Jim Bentz
Candles in the Ashi indicator are very different from normal candlesticks, right? Visually OHLC don’t match between charts, is there a way to put both on the same chart but not one over the other?
How i add a Heiken Ashi Candles instead of the standard candles? Because when i add the Heiken Ashi indicator it add the candles over my candles.
Test today on M5 for the pairs EURUSD, GBPUSD, AUDUSD, GBPJPY, EURJPY.
10 Trades, 7 SL, 3 TP…
What TP use you Blizzard ?
Hello, the entry is indeed after the close of the ASHI candle and as far as TP, i usually wait till i get an opposite ASHI color appear but im sure there is a better way to determine TP.
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Hello, you should change the chart from “candleSticks” to “Line chart”, and then go to the menu bar at the top and select:
Chart->Properties and change the color of “line graph” to none.
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Here you have the smoothed version of Ha bars, it is ajustable, and you don’t need to remove candlestics from the chart in order to see if ha has changed color. If you lower the ma period it brings similar entries than normal Ha. There is also more odds to test until you find the best setting wich can work for you, depend if you want a conservative strategy with larger sl or an agresive one with a tight stops.
Heiken_Ashi_Smoothed.zip (1.19 KB)
Thanks Paw3000, we can start playing around with that.
thanks
Hi,
On yr Chart right click in properties-in Colors box change all Candles colors to none, then there will be no overlay of original candles.
Thanks, this is what I was looking for.
Smoothed Heiken Ashi looks so beautiful, but compared to regular Heiken Ashi,confirmation of cirection chage comes later, and as such, you will sacrifice entry profits. And, as I recall, it also repaints, so, you’re looking at what looks like a no-brainer indicator to make money. Problem is at the last candle on the right, this indicator will repaint itself to fit the actual price action. As all indicators do. Only indicator that will not repaint is one that does not draw to the last candle. Basically, they just show indicator from closed candles. Therefore, if you have a massive spike move, you will never get in on the action.
I coverted an ea into just an indicator demo to show repainting (no trades will be taken)… the following image shows both Heiken Ashi candles in Black(long) and White(short), and the Heiken Ashi Smoothed in Lime(long) and Red(short).
Along with that, I had the ea draw a solid black or white line from the candle to the top of the screen based on the initial Heiken Ashi signal, which won’t repaint, then you can see where the Heiken Ashi candle color does not match the vertical line to the top, the Heiken Ashi reapainted the candle because the price action switched direction, market with Red checkmarks.
On the Heiken Ashi Smoothed, the ea paints dashed lines from the candles to the bottom of the chart. Again, where the lines do not match, the Heiken Ashi Smoothed has repainted, market with black checkmarks.
Obviously, this situation is worse in chopping market, which is what I picked to show the weakness of these as entry indicators.
Oh, if you want to run the EA-Ashi Test, you’ll need both of the Heiken-Ashi (reg and smoothed) to get the results. And then drag them onto the chart, change colors to match lines.
Ashi_repainting.zip (53.9 KB)
Both_Heiken_Ashi.zip (2.22 KB)
With a mix of ZZ and SAR/Ashi strategy I have had 9 consecutive losing trades (on the 1Hr). The markets keep pushing. I think I will leave the Ashi out for now.
Ofcourse he comes late with the default settings, thats the point of smoothed Ha. When we was trading the strategy with psar the entry comes even later, entering before doesnt means a better entry, as you will probably have more fakeouts. But you can lower it and get similar entries, to a max of 1 bar late, or if you change all indicator settings to 1 you will have the normal Ha (only aplicable to the Ha version uploaded by babypipsjbentz) , so it is the same, there is no diference in repainting issues, you just should wait for a candle to close, and it does not repaint again. The red bar painted by this indicator will not change color, backtesting this indicator with past charts can be done easily.
Is like entering a candlestics bar pattern, you see a pinbar, you wait until the bar is closed, otherwise the price can move fast and change the original setup, and i think nobody here is thinking that normal candlestics repaints…
So I’m not sure i have understood what you were trying to say about the repaint, but it repaints as all indicators do, you should wait for a candle to close, thats all. The normal Ha has the same problem.
I agree completely. As long as the people using the indicators understand that you always, as you say, have to wait for the candle and/or indicator to close before making desicions based on it.
However, on the standard Heiken-Ashi, I’ve noticed a single bar close in the reverse direction, then switch back to the "trend direction on the next bar.
Thanks for the insight on the smoothed version. I didn’t know it would be same as standard by changing settings to 1.
The intersting thing is Blizard opened this new thread to make the trading system capture more of the move, as he felt, with the Blizard_ZZ method, he was losing too much waiting for the opposite ZigZag dot to paint (assuring the change in the trend). But it seems as this thread evolves, it’s moving in the same direction, that you have to give up some of the move to prevent reversals and losses. At least, I think that is what’s happening.
Hello, here are todays setups on the EUR/USD 5 minute chart. I personally find the best time frames to trade this strategy are the 5 minute, 15 Minute and 4 hour. Too many fakeouts on the 1 hour time frame.
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Maybe if we doubled up on the next entry signals after a loss it would help? Any suggestions. Lets step back and see where we are at and what we need to improve on as far as this strategy.
Pros
-The system identifies the tops and bottoms really well, id say with 70% accuracy during proper market hours.
-The entries are very clear
-The SL is relatively tight
Cons
-You will get fake-outs approx 30% of the time
suggestions to fix this 30% fakout:
-Double up on the next entry if SL is hit.
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-?
thanks