GBPAUD - Comparison of Standard Candle Vs. HA Same Time Frame

FX:GBPAUD   British Pound / Australian Dollar
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This is a comparison of same chart (Daily) using standard candles
vs. Heiken Ashi. See how much easier the HA chart is to follow and
the trend is so easy to identify. One of the things I really like about this
chart view (strategy) is how during trends the HA candles will not have
wicks in the direction opposite to the trend. Once the trend starts
to weaken, wicks will start appearing.
I like HA candles, i tried system trading based on them, everything looks simple and different. But still not using for real trading, sure i will.
good job both moving average Simple 8/14 Sir plz tell me
Dale_Ansel NadeemSaudia
8 = Weighted Moving Average (8-WMA) & 14 = Simple Moving Average (8-SMA).
+1 Reply
Dale_Ansel Dale_Ansel
I have found that combination to be very effective with this strategy. They really hug price action and when
they cross it's usually a great indicator in and of itself.
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good position and good analyze have good pip duuud
Dale - Given your experience with HA, we know the candles are structured differently and very much to an advantage, but are pivot points and other ways of measuring support and resistance areas identical to classic candles / bars? For example, we usually draw an Andrews pitchfork or Fibonacci ratios on the pivot areas and would these be identical on HA chart versus classic bars?
+1 Reply
Dale_Ansel Alphaoptions
Yes, HA candles will NOT be accurate to draw traditional S/R levels so to speak. You would have to change display back to non HA candlesticks to draw S/R
levels, fib retracement/extensions, etc. But it's simple to switch back and forth with relative ease. You wait for signals using HA candles. Everything else use standard.
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Dale_Ansel Dale_Ansel
However, as a side note. This particular strategy is a rules based strategy and does not use fib ratios, Andrews, etc. As such it utilizes basic
trend lines to determine direction of trend drawn on the HA candle price movement, but for the most part you Enter/Exit ALL trades using
a med/large HA candle breech of the 8/14 MA lines to determine entry not ratios or extensions or anything else. Only when or if a candle changes
color and breeches the 8/14 MA lines do you enter/exit the trade. The moving average and HA candle intensity are you main factors here.
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This is beautiful!! Thanks!!
Have you try Renko? I think it works on the same..
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