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  1. #1
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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. #21
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    Yes friend Heiken Ashi is looking simple with its different candles and also easy to make analysis. However I would continue with the candle sticks, line and bar charts because it is now over 2 years I have been using them and I got well versed in them. But Heiken Ashi seems good to work with indicators like Maco. Following the trend is a great feature of Heiken Ashi and Maco is also nice for that so I think would be great to confirm the Heiken Ashi trade setups.

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  3. #22
    Trader Hukam's Avatar
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    Quote Originally Posted by PROPENSITY100 View Post
    Yes friend Heiken Ashi is looking simple with its different candles and also easy to make analysis. However I would continue with the candle sticks, line and bar charts because it is now over 2 years I have been using them and I got well versed in them. But Heiken Ashi seems good to work with indicators like Maco. Following the trend is a great feature of Heiken Ashi and Maco is also nice for that so I think would be great to confirm the Heiken Ashi trade setups.
    Yeah mate I can understand that, if you are following candlestick since 2 year's and like to use it then for sure you can make your analysis with candlestick chart, I am also using candlestick chart, but for some extra benefit I use heiken ashi chart too. A strong confirmation of market trend could be judged in a better way with heiken ashi chart rather than candlestick chart, that's why I am am talking about combination of candlestick and heiken ashi chart. Did you ever tried to use Heiken Ashi chart or you use only candlestick chart?

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  4. #23
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    Cool, so the topic of candlestick chart and heiken ashi chart still going on, very good. Candlestick chart is very old in this market and in almost of e books, forex trading learning courses, videos you will able to learn forex through candlestick chart that's why most of novice trader's also attract to candlestick chart, but I am very using heiken ashi since five day's now and it give me many more benefits in my trading, I am happy about its use, and my trading learning is almost complete with heiken ashi chart now.

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  5. #24
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    Quote Originally Posted by forexlearner View Post
    Cool, so the topic of candlestick chart and heiken ashi chart still going on, very good. Candlestick chart is very old in this market and in almost of e books, forex trading learning courses, videos you will able to learn forex through candlestick chart that's why most of novice trader's also attract to candlestick chart, but I am very using heiken ashi since five day's now and it give me many more benefits in my trading, I am happy about its use, and my trading learning is almost complete with heiken ashi chart now.
    Nice, That's true that most of trader's are busy with candlestick chart analysis, Heiken ashi is best for those trader's who are busy with trend trading system in this market, I like this very much because its suit to my trading style thats' why from now I am using both. I have downloaded 2 robo forex mt4 terminal for now, in one terminal I am using Candlestick chart and in other mt4 terminal I am using heiken ashi chart.

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  6. #25
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    That's a good idea, the use of 2 robo forex mt4 terminals would be best to check heiken ashi and candlestick chart pattern separately. Thanks for this recommendation

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  7. #26
    Trader Hukam's Avatar
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    Thank you for posting once again in my thread friends, Hope you are enjoying heiken ashi chart learning, I am always active here, if you have more questions about heiken ashi then you can post them here, I will try to reply you soon as possible. Thanks once again to appreciating my thread.

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  8. #27
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    Quote Originally Posted by Hukam View Post
    Thank you for posting once again in my thread friends, Hope you are enjoying heiken ashi chart learning, I am always active here, if you have more questions about heiken ashi then you can post them here, I will try to reply you soon as possible. Thanks once again to appreciating my thread.
    Yes I am loving this buddy, but still in short term time frames, I think you use this in long term time frames, I want to know that can I use this in H4 time frame? Or for the best result I have to use heiken ashi chart only in Daily chart? I have tested it Minute 30, and H1 time frame result is very good. But please suggest about long term trading setting.

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  9. #28
    Trader Hukam's Avatar
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    Yeah for the best trading opportunities and for the best market trend confirmation us it in H4 and Daily chart time frame, For short term you can use H1, I am using Daily chart time frame, First of all I want to tell you that you need a lot of patience in daily chart time frame trading otherwise you can't become a good trader in long term goal trading. Hope you will understand that well mate

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  10. #29
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    Quote Originally Posted by Hukam View Post
    Yeah for the best trading opportunities and for the best market trend confirmation us it in H4 and Daily chart time frame, For short term you can use H1, I am using Daily chart time frame, First of all I want to tell you that you need a lot of patience in daily chart time frame trading otherwise you can't become a good trader in long term goal trading. Hope you will understand that well mate
    Yeah buddy I will give my best, For now I don't have any experience about long term trading but working in demo with that, I am sure that in next 3 months I will get a good experience of long term trading about heiken ashi trading and my patience. By the way thanks for giving reply quickly, you are very fast and one of the active member in this contest.

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  11. #30
    Trader Hukam's Avatar
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    Your Welcome that's my pleasure, I am happy that forum member's are giving good positive feedback's about this thread, Hope you all are getting best and valuable heiken ashi information from this thread, By the way I like your confidence hope you will get better understanding about it in next 3 months, keep it up mate

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