I am a little confused about the 2 charts you posted which I understand should be the same chart with and without HA charts.
HA charts only average out the bars primarily changes the body of the bars and the color of them it does not change where the high / lows (wicks).
As far as I can see there is something wrong with your above charts as the second chart shows different high / lows than the first chart.
Below you can see the last abt 7 hours of EURUSD on the 5min chart with and without HA charts.
As you can see all the high and lows are exactly the same it is just the colors and the body of the bars that are changed.
I believe that the difference is that you are using the āstockā HA and Iām using an HA that has been Smoothed. IMO, the highs/lows are part of the noise that I can do w/o. For the HA that Iām using, Google/link to: forex-indicators.net
To all that use or intend to use Heikin Ashi Bars with the 3 Ducks Method, I would suggest that you stick to the Original Standard version and not the Smoothed version.
You are already using the 60 SMA, so there is no need to add yet another Moving Average in the form of the Smoothed Heikin Ashi which does not maintain the original highs and lows of the bars. They are important if you want to strictly follow the 3 Ducks method.
Remember, that in the 3rd Duck, there is the āducklingā where you look at recent high and low zones, which can still be seen with the standard Heikin Ashi but not on the smoothed version. The so-called High/Low ānoiseā is important not only for the setup, but also for deciding on a stop-loss or trailing-stop and for adding to your position on long trends; so they should not just be ignored. Obviously, you could have the smoothed version on your chart on top the standard candle stick bars, but why clutter your chart with all that when it only complicates things.
To recap; you already have the 60 SMA, so use the Standard Heikin Ashi bars, on top of a Line Chart so as to see the original Close positions. Just keep it simple and clean!
That is exactly my point. There is no need to clutter up the chart with 2 bar systems, when there is already a Moving Average on the chart (namely the 60 SMA). There is no need for yet another Moving Average by way of a Smoothed [I]Heikin Ashi[/I].
Plus, as I wrote, you need the High/Low noise if you are going to follow the [I]3 Ducks[/I] correctly. If you are ignoring the High/Low points, then you are NOT following the [I]3 Ducks[/I] method.
I prefer to not see the noise when Iām scanning pairs while looking for a setup. However, when I begin to enter or exit a trade, I certainly add the Bar Charts.
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BTW, what is the purpose of that yellow MA that I see on your chart?
How are you only getting two trades per day? Using the 5M swings i see many more setups than that, although i am using 16 pairs, perhaps i should cut some of them out. What are you using to filter them?
Should i perhaps go with the 10 pairs that the captain posted on page 11?
Hello everyone. Iām rediscovering 3 ducks again, in the past Iāve overlooked it because the set and forget method had a lot of losses. Recently because of unemployment Iāve been paper trading 3 ducks. And loosely paper trading it at that. If I had followed the rules better the results would have been better. So I plan to be an active member of this thread. (Edit: I forgot to mention, some of the winning 3 ducks days are astounding! Best method Iāve paper traded yet.)
Thanks, thatās why Iām going to be posting my charts ( when I have the ability ) and my entries. For positive feedback. Iāve been using a set 20 pip SL for paper trading, lots of losses but good RvR when it hits.
I am not sure how you can find it difficult to keep up with 4 pairs since you are only suppose to look at them once a day and then set your pending orders and forget about them for 24 hours.
Sorry to hear that.
I pulled in abt 112 pips in AUDJPY with abt a 30 pip s/l myself (just took profit now)
You did quite a bit better than I did on that trade Rindoan. I took a 35 pip profitā¦I would have taken over 100 pips had I not set such a tight TS. Oh well, at least it was a win.
