Iam a intraday trader, i have a doubt about two companies of trading, swifttrade and title, i want to know wich is better(good and bad things), and why ,please, if you heard about please
jjrvat is that the Heikin-Ashi candles based on HMA? I am interested to know how you use these. It seems that HA candles already deviate significantly from actual price (highs and lows don't reflect the actual highs and lows from that time period) and HA candles based on an MA, while super smooth, are very often significantly different from actual price. In my experience, when the HA trend has changed, the actual price is already going back in the opposite direction.
veggen, Alegnus Thanks. Itâs a little more âmessyâ than just HA candles. This chart is a 3LB with normal HA candles based on a 2 period Wilders smoothed âHA candlesâ ("FHA" candles). If you have SierraCharts you can search the free FHA.DLL I posted somewhere in their support board. Alegnus, IronFist The aim of this chart was explaining momentum not a trading chart but yes, in general you are 100% right in your comments. Nevertheless, I posted 2 charts so you can compare where the key momentum plays are, you should pay more attention to the 1st. The 2nd chart is not necessarily a trigger chart (timing) but if you are sharp enough you can use it to spot where a reversal has complete and a new round of shorts would have started in the naked chart. Look the âDevil is in the detailsâ. For example, study the area between 10:10 and 10:22 if you want to read the same 100% clear end of the reversal in the naked chart in the smoothed chart you have to look at the LOWS not the colour of the candles. In my perspective the visual effect created with this chart is not given by how perfect green and red candles show waves but if you pay attention to detail is on how the up candles have a higher lows (or equal at the extremes) and the opposite for down candles. (*** This is achieved because the 3LB component doesnât plot all prices above a green candle or below a red candle but will always plot the prices below a green candle /above a red) So obviously the key point to watch in the example (10:10 / 10:22 and all the others) is the break of the last bar low not an opposite colour bar forming. As you can see this point will 100% correspond with the point in the naked chart where price failed to make HH and a few bars after broke the last Low making a 100% confirmed LH and LL. jjrvat
jjrvat Thank you very much for such a great educational thread. It has became a classical one and already referenced in many trading forums as one of the best. Happy I'm, that I've found it and reading and re-reading it now, and it really helping me to look at many basic trading everyday things from a completely new wonderful prospective. Just a question: You have mentioned in the begining of this thread, that this technique (or approach or method) is not applicable to Forex markets. I'm wondering - why? Is it just because of luck of volume information for Forex or something else? But there are such things as ATR and Level II (on ECN brokers) - which may substitute volume at some extent. Could you give more details about - how it will work (or not) on Forex and why. More generally, could you list (from your knowledge) - which other markets/instruments your method cannot be applied to? (assuming it is applicable to most, but still want to know all the exceptions (if any)).
To be honest, I havent read the ENTIRE thread, but read alot of it, but the remarkable thing that strikes me is that looking at along of the chart examples, how truly amazing price action coupled with S/R is. I also find the themes similar to Anek's PA thread, its just that moving averages arent used, but the underlying premise seems to be very similar... MA's are used to help identify the overall trend or choppy period (if flat) or guage the strength of a move. Using self drawn trendlines can also do this IMO in a similar fashion. Both great threads!