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  1. #1
    Trader Hukam's Avatar
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    Indicator Heiken Ashi

    Hello Folks, First of all I am very thankful to all Robo forex forum team, who bring another forex contest for us. I have only joined a few contest's till now and this one is little bit unique from the old ones. This is a good contest for all forum member's beacause we can get a best knowledge of differ types of trading indicator's those trader's are using in their trading strategy. In this thread I am going to write a review on Heiken Ashi.

    Heiken Ashi Indicator Introduction:

    What is Heiken Ashi?
    Heiken ashi a another form of charting like candlestick chart, bar chart, line chart etc. The main purpose of this indicator is to provide a clear visulal representation of the market trend. Heiken ashi is best applicable indicator for all those trader's who like to follow the trend in the market. Along with it Heiken Ashi price bares are averaged, so each bar would not refelect the exact open,highs, lows, and closes for that period same like candlestick would.

    Discription:
    As we know that following a market trend is very essential in this business. And to judge the best market trend condition we have to follow a good set of indicator's in our mt4 terminal. Heiken ashi is also of that indicator which will give you a clear indicator about the market trend strength. Its not a confustion indicator like other's and you will not got any much false signals of market trend confirmation in it.

    Heiken Ashi Chart Patterns:

    Bearish Candels Chart Pattern:
    In this type of market situation, market will work inverse of a bullish heiken ashi chart pattern, as we can see in the chart that, Heiken Ashi containg big bodies and long lower shadows. Heiken ashi present a clear picture of the down trend market , by adding more candles in a row. On the other hand we don't able to see this type presentation in other form for charts.

    Attachment 12556

    Bullish Candles Chart Pattern:
    The best thing about this indicator is it will give you a clear market trend indication, as you can see in the chart that, when the market is bullish then heiken ashi candles have big bodies and long uper shadows. It make trader's more confident to follow a bullish market trend. Even they can get a good idea about small uptrend market trend.

    Attachment 12557

    Reversal Candles Chart Pattern:
    Now look friends, I have discussed about bullish and bearish heiken ashi market above, but it mean's is not that market will go in those directions all the time, some time there could be reversal or pullback too in this market, to judge this type of market situation you have to keep any eye on doji candlesticks too during the trading. They have very small bodies, long upper and lower shadows.

    Features of Heiken Ashi Chart:

    Following the heiken ashi chart is very useful in trending market situations, some time trader's fear to open their trade's because they think that market could take reversal or pullback anytime and they can lose their money by that. But with the use of heiken ashi chart they can minimize their loss and could make good money in market trend with Heiken Ashi Chart analysis. Trader's can use Support and resistance, Trend lines, etc to improve their Heiken Ashi Chart analysis.

    1. Heiken ashi chart is very useful for intra day trader's, For intraday trader's its very important to check that which type of market flucations are good for their trading and which type of fluctuations they have to ignore on intraday bases. With the use of Heiken ashi chart they can see the minor changes in the market and can take good action in their trading.

    2. The another great feature of this indicator is that it give me a good presentation about the market trend. You can't get this type of presentation in other popular charts like candlestick, line chart, or bar chart. If you like to follow the trend then Heiken ashi chart surely a very good choice for you. Trader's can gest best advantage of heiken ashi in long term time frames too, Moslty long term trader's don't able to see a best long term trend presentation in candlestick chart but Heiken ashi is much differ from candlestick chart and trader's could see more Green and Red candles when a uptrend and downtrend take place in the market.

    3. Its also helps trader's to judge the minor and major trends in the market. Trader's can keep an eye on doji signals, because most of time in heiken ashi trader's will get a doji sign on a reversal sign of the market. So they can close their trades by checking doji signs and can hold their trade's for long term and short term by making a good analysis through doji signals.

    4. Heiken ashi chart will give trader's most money making opportunity because this type of chart will not give trader's much false signals at all. Some time due to price flucations trader's able to see many misleading siganls in the market, but heiken ashi is best to solve this type of problem too. To make an effective analysis Heiken ashi is best for trader's.

    5. Trader's can do trade in high volatile pair's too like Euro/Jpy Gbp/jpy, Gbp/Aud etc. Heiken ashi identify the market trend very well so people have always a great chance to make money in all high volatile pairs. As far I know Heiken ashi is a best indicator for all high volatile pair's. We can see daily flcuation around to 170 pips in high volatile pairs.



    Setting Of indicator:

    The setting of our indicator is very important for us when we apply them in our real trading account on in our mt4 terminal. Indicator setting decide which type of quality signals we will get from our indicator, and on which time indicator will give us signal. Now I would like to share about its setting process, the process of changing its setting is little bit different because you can't create any template with the same setting, you have to do that manully again and again when you will open any currency pair chart. Even you can use the custom setting but personally I not like it much.

    1. First of all you have to open your Robo Forex mt4 terminal then click on insert option.

    2. Select indicator "Heiken Ashi:

    Attachment 12559

    3. Now you have to click on Heiken ashi properties by right clicking on the indicator in mt4 screen, you can change your heiken ashi chart color according to your wish, as you can see above in the picutre I am changing color of heiken ashi candles toward greed for bullish, and red for bearish, You can select the width size 2 or 3 in all four boxes. I have selected 2.

    Attachment 12560

    4. After changing its color and width setting you can click on ok that's it.

    My Personal Opnion and recommendations concerning this indicator:

    First of all I want to say that indicator's are basically mathematical tools so don't think that any indicator use will give you a lot of money in one night. All indicator's have their limitations and benefits. We don't have to only look at their benefts, we have to accept their limitations too in our trading. Make sure you that you have a good control on your trading psychology, and have a strong management in this business.

    I am usign heiken ashi and candlestick both charts in my trading, and I am combining them to get a good reversal signal on major support and resistance points. Heiken ashi is best for trend follower's, but it mean is not that you have to forget about your trading rules. Use them every time in trading. I would suggest trader's to use Moving average, Trend lines with Heiken ashi chart, and would suggest to use H4 and above time frame.

    In last I want to say that thanks a lot to read this thread hope you enjoyed it, beside of it my best wishes to all other contest participants. Have a Good Day

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  2. #11
    Trader Hukam's Avatar
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    Quote Originally Posted by nsawork View Post
    Many of the traders are using Heiken Ashi in their trades as they get to know more about the trends that are beneficial to them and using which they would be able to earn a good income in their trading.

    It also gives us more knowledge of the present action that is taking place if we are using it in the correct Time frames
    Yeah mate I think you have a good experience of heiken ashi, you are right, its best to know more about the trends with the help of heiken ashi. I can't say exactly how much people are using heiken ashi, but you are correct that there are many forex trader's who like to use heiken ashi, even professional trader's use heiken ashi

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  3. #12
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    Quote Originally Posted by Hukam View Post
    First of all I am very thankful to you, that you appreciated my thread. Yes why not dear, you can test it in you demo trading account, and if you want to ask more question about heiken ashi then surely you can post your query in this thread I will let you explain more about this indicator. I am sure you will get a best advantage in swing trading from it. I will wait for your more queries.
    Your welcome, I was little bit busy last week, but yes this week I will give some time for it, I am a part timer so don't have much time to spend on my pc. I am very thankful to you that you are ready to accept all my queries about heiken ashi indicator. I am checking just now heiken ashi its looking amazing, specially in trending market, Just give me some time sir and will ask you more about this tomorrow.

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  4. #13
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    Quote Originally Posted by Hukam View Post
    Nice to hear that dear, I am very glad that you are learning well from heiken ashi indicator. That's my pleasure dear, and its my responsibility to share my best trading experience, trading tools, indicator with all forum members. Robo forex forum is a best forex learning community, that's why I have participated in this contest. I also follow the same, candlestick and heiken ashi both are good to analyze the market. I think Candlestick chart have its own value and prize, so we should not underestimate candlestick chart too.
    Hmm I think its depend upon our trading experience many trader's are using candlestick chart pattern since a very long time in this business that's why they are very satisfied with candlestick chart rather than heiken ashi, so I am agree with you that both have their own value. But personally I am looking forward to use only heiken ashi from now on my charts. Its wonderful

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  5. #14
    Trader Hukam's Avatar
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    Quote Originally Posted by forexlearner View Post
    Your welcome, I was little bit busy last week, but yes this week I will give some time for it, I am a part timer so don't have much time to spend on my pc. I am very thankful to you that you are ready to accept all my queries about heiken ashi indicator. I am checking just now heiken ashi its looking amazing, specially in trending market, Just give me some time sir and will ask you more about this tomorrow.
    For sure, you can take your time, I am always live most of time in this forum, I spend a lot of time in this forum and in forex trading market, its my profession. You can ask anything about heiken ashi, and I will try to give you best answer every time. You can search more online about heiken ashi, you can find topic about heiken ashi every where all over the internet too. This will give you more deeply understanding about heiken ashi use

    - - - Updated - - -

    Quote Originally Posted by Khimi234 View Post
    Hmm I think its depend upon our trading experience many trader's are using candlestick chart pattern since a very long time in this business that's why they are very satisfied with candlestick chart rather than heiken ashi, so I am agree with you that both have their own value. But personally I am looking forward to use only heiken ashi from now on my charts. Its wonderful
    Oh yeah heiken ashi is also good, its your own choice dear if you are satisfied with Heiken ashi then for sure you can use only heiken ashi indicator on your chart.

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  6. #15
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    Quote Originally Posted by Hukam View Post
    For sure, you can take your time, I am always live most of time in this forum, I spend a lot of time in this forum and in forex trading market, its my profession. You can ask anything about heiken ashi, and I will try to give you best answer every time. You can search more online about heiken ashi, you can find topic about heiken ashi every where all over the internet too. This will give you more deeply understanding about heiken ashi use
    Heiken ashi is looking very interesting, I am getting a good red candle's and green candle's set during a uptrend and downtrend movement in the market. On the other hand in candlestick chart pattern I am not able to see the same chart pattern like heiken ashi chart. Still busy with swing trading testing, Its working for me and I am very happy

    Euro Usd Heiken Ashi Current Chart:

    Heiken Ashi bit.PNG

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    Last edited by forexlearner; 05-19-2015 at 05:04 PM.

  7. #16
    Trader Hukam's Avatar
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    Quote Originally Posted by forexlearner View Post
    Heiken ashi is looking very interesting, I am getting a good red candle's and green candle's set during a uptrend and downtrend movement in the market. On the other hand in candlestick chart pattern I am not able to see the same chart pattern like heiken ashi chart. Still busy with swing trading testing, Its working for me and I am very happy

    Euro Usd Heiken Ashi Current Chart:
    That's why I love heiken ashi very much, you can compare it with candlestick chart, and I am sure that you would get better understanding of the market with heiken ashi rather than candlestick chart. Personally I would suggest you to use candlestick chart to find out reversal market patterns only, beside of it you can focus on heiken ashi chart. I am checking your chart and its great to see a 17 heiken ashi bar's formation in a uptrend situation and look at selling price that's an awesome formation too.

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    Last edited by Gulfstream; 05-20-2015 at 12:06 PM. Reason: del pictures

  8. #17
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    Well depend upon our trading strategy and trading experience, I am using candlestick chart since a very long time now and I am happy with its use, as you have mentioned in your post that we can get better market reversal point through the help of candlestick chart rather than heiken ashi. I am a trend follower, that's why I am looking forward to use heiken ashi too, I like the way you have pointed out that is "Combination of Heiken Ashi and Candlestick Chart"

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  9. #18
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    Quote Originally Posted by Khimi234 View Post
    Well depend upon our trading strategy and trading experience, I am using candlestick chart since a very long time now and I am happy with its use, as you have mentioned in your post that we can get better market reversal point through the help of candlestick chart rather than heiken ashi. I am a trend follower, that's why I am looking forward to use heiken ashi too, I like the way you have pointed out that is "Combination of Heiken Ashi and Candlestick Chart"
    Yup I like the co ordination too, I use support and resistance along with swing that's why I use candlesticks which give me much better better idea to know about the strength of my trading confirmation. There is no doubt in it that people are using candlestick chart since a very long time, but they should try heiken ashi too, it could also be a best choice for them. Most of professional trader's use heiken ashi chart, renko chart, in their trading so we should give at least one testing too regarding its learning.

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  10. #19
    Trader Hukam's Avatar
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    Nice mate, I love those trader's who like to do a lot of technical study in this business, I am naked trader so most of time my aim is also to open my positions on major support and resistance points. Technical analysis is my weapon in trading, and I am using it since many year's in my trading. I don't have any experience of renko chart but if you have any experience of it then you can share it with us.

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  11. #20
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    I am very satisfied with the use of heiken ashi indicator, I think you deserve a great reward for this thread, This is my first time when I have heard about the heiken ashi indicator, I am still busy with real trading, so don't giving much time for testing, tomorrow I will give a break in my real trading schedule and will test this indicator in long term time frames, I have only use this in short term time frame's yet.

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