I'm currently using these on tick and 1m time frames and I really like the way the candlesticks look but is the data actually real? Mainly for entering.. I really like how they get rid of a lot of the volatility and make the chart nicer/more legible but i feel like you could get burned easier or miss profits if the market drops quickly because they don't seem to update as quickly. Or how can you time your entries better?
It was the first system automated that was made five years ago, follows fourteen markets, I had traded it manually for two years prior and it still currently working. It is a funny indicator where parts of the bar doesn't really exist with price but shows that it does, so mine is coded differently.
This indicator is no difference than the general moving average that shows you the "trend", you will get killed when the market is chop or side ways.
You can avoid some of the chop by using EMA and lack of slope or EMA is touching bars to change how you enter, instead of doing breakout entry, you wait for confirmed breakout then enter orders to get in so many ticks better is what I do, this changes risk to 50% or more and expands profit potential. I also use this approach when volatility is higher or bars too great to be able to handle normal risk, wait for breakout than limits much better.
Are we even talking about the same thing. This isn't just an indicator, it's a completely different chart. I don't buy on breakouts, and this seems to show which pullbacks are real and it leaves the chart with a cleaner pattern. My only concern is the bars update differently, but if you're watching price action you can have a stop in mind anyways. I've decided for forex it's basically needed, but I'm still not totally sure with stocks. Also, core support levels are pretty much the same on either charts
Most of traders here are experience and old enough to understand Heikin Ashi, and you should know the open and close price in each bar in HA is not the actual open/close price as you see in normal candle chart. HS always looks good in paper (chart) but not in real world (trading) especially when the market is chop, do a few paper trades and you will know what I means. I assume you are new to HA, or just learn this from youtube or some mentors/vendors that try to sell you something that they claimed can make you millions? Believe me, they never make any real money in their life from trading except selling "mentoring'
Right I understand it's different, but that's my question is if it's usable. It's just something I've been testing the last day, I don't even really trade forex. But I was playing with some paper trades using it on forex and did alright. it made the chart nicer, However I feel like it could be a disadvantage sometimes
I have been using it on and off, its off again at the moment, reason being I'm missing the accuracy and I'm trying to get really tight entries in a BB range, more chop trading here. I like the way it keeps you in longer though, but makes back testing impossible as its range is an average and wrong.