Hello , I have a doubt why i am not able to get sell signal .
akimosi
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@Sebastian_Castellanos, the author advises to use for the stocks in uptrend, hence he might only considered cash market swing trades
You might consider the buy-exit signals as sell signals though.
Hey Bro pls let me know, how you generate Signals based on an Heiken Ashi Chart/Price and open positions, cause i always thought it's not possible.
mmsrect
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Hi @Arnon2long, for the script above I used a mix of multiple indicators at different points.
However, there are many indicators that we can use with Heiken Ashi. To stick to the basic, those candles by themselves suggest a trend or a swing.
What I do here is,
1) Let's say the chart here is an hourly chart. So I keep the ratio of 1:4, thus moving up to a 4 hour timeframe and check if the stock is in up or a down trend. But more importantly, I look for the lastest swing. Eg: Let's say that on the 4-hour chart, the stock is in a downtrend. But the latest swing is upwards.
2) Now I come back to the hourly chart with hopes of going long, if I can find more signals. ( I already have 2 signals here, one from the 4 hour chart and one looking at the color of the last few Heiken Ashi candles.)
3) I now use anything from Stochastic, to Crossovers, EMAs, etc to confirm the bullish nature. (Don't look for many indicators, just a 1 but a good 1 is enough)
4) Now just one last check and I am ready to buy, remember that the stock's main trend is bearish. And I am looking to buy against the trend. So I see if there is any consolidation/buildups. If there is, then I look for indicators like Relative Volatility index, etc and see that its not below 50. If it is, then sadly, I prefer to skip at this point and move to next stock.