Heiken Ashi “Price Action” Trading Strategy – Heiken Ashi candles are partly candlesticks, and partly indicators. Let’s learn about the Heiken Ashi Smoothed indicator.
Unlike the regular Heiken Ashi candles, the Heiken Ashi Smoothed indicator is less of a candlestick and more of an Exponential Moving Average (EMA) indicator.
It doesn’t show the highs and lows of a candle, in fact, it is often printed a tad above or below the regular candlestick.
- Time Frame: H1 or higher
- Currency Pairs: Any
MetaTrader Trading Indicators
- Heiken Ashi Smoothed
- RSI
How to install “Trend Heiken Ashi Smoothed Trading System “
- Download “ForexWOT.Com-TrendHeikenAshiSystem” (Zip/RAR File).
- Copy mq4 and ex4 files to your Metatrader Directory …/experts/indicators/
- Copy the “ForexWOT.Com-TrendHeikenAshiSystem.tpl” file (template) to your Metatrader Directory …/templates /
- Start or restart your Metatrader Client.
- Select Chart and Timeframe where you want to test your forex system.
- Right click on your trading chart and hover on “Template”.
- Move right to select “ForexWOT.Com-TrendHeikenAshiSystem” trading system and strategy
- You will see “Trend Heiken Ashi Smoothed Trading System” is available on your Chart
BUY Rules
Entry
- The fast Heiken Ashi Smoothed candles should be above the slow Heiken Ashi Smoothed candles
- Slow Heiken Ashi Smoothed candles should be color blue
- Enter on the color change of the fast Heiken Ashi Smoothed indicator from red to blue
- RSI line upward and above level 55
Stop Loss
- Set the stop loss at the swing low or fractal below the entry candle.
Take Profit
- Risk-Reward Ratio 1;2 or 1:3 (set the target take profit at 2x or 3x the risk on the stop loss).
SELL Rules
Entry
- The fast Heiken Ashi Smoothed candles should be below the slow Heiken Ashi Smoothed candles
- Slow Heiken Ashi Smoothed candles should be color red
- Enter on the color change of the fast Heiken Ashi Smoothed indicator from blue to red
- RSI line downward and below level 55
Stop Loss
- Set the stop loss at the swing high or fractal above the entry candle.
Take Profit
- Risk-Reward Ratio 1;2 or 1:3 (set the target take profit at 2x or 3x the risk on the stop loss).
Trading NOTES
- The Heiken Ashi Smoothed indicator naturally has little noise, even with its standard parameters. It usually changes color only when the trend is changing.
- You could also employ a trailing stop loss behind the Heiken Ashi Smoothed candle. This would allow you to squeeze out moves for maximum gains during strongly trending market conditions. However, there will also be a high chance wherein the trailing stop loss would be hit prematurely during retracements.
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