trading tools for MetaTrader 4, Multicharts/Tradestation and JForex.
Hi Everyone, it’s time to move forward in our journey of the several possibilities offered by Renko charting. Today I’d like to start discussing the indicator that is actually my favourite when trading on Renko charts: Heiken Ashi.. And as a matter of fact Heiken Ashi is not even a real indicator. It is actually an additional candlestick charting technique. May 25, · Theres no "time" in the renko. we use the renko ea on 1min chart to plot renko on unused metatrader timeframe m2. The time is negative in renko because its not countdown. just disregard the "-" negative sign, that .
White bricks are used when the direction of the trend is up, while black bricks are used when the trend is down. Transaction signals are generated when the direction of the trend changes and the bricks alternate colors.
We try to maintain hiqhest possible level of service - most formulas, oscillators, indicators and systems are submitted by anonymous users. If you use any of this information, use it at your own risk. You are responsible for your own trading decisions. Be sure to verify that any information you see on these pages is correct, and is applicable to your particular trade.
In no case will www. This indicator is a nice way of confirming whether we are trading the direction of major trend. Please can you advise on in which section of the code should the order placing code should be written. Your email address will not be published. Getting the newsfeed directly into my favorite charting software is always been interesting to me. Price with Last Trade Price Marker: This curiosity arises when one of our Amibroker Mumbai Participant comes up with a simple trading strategy.
However the profit table can be customized according to ones requirement. Rather than doing a […] Introduction to Backtesting a Trading System using Amibroker Backtesting is a simple process which helps a trader to evaluate his trading ideas and provides information about how good the trading system performs on the given historical dataset. Comments Dear sir , Can I have for mt4 if so send it to my mail i d.
Will take quite some time. Hi Rajandran This code is producing error when code testing is done.. Hi,, waiting for your kind reply.. Hi, The code done here is for Amibroker and you can expect Metatrader codes in the upcoming post.
Sir Which is better? Super trend indicator with normal candle or Heiken ashi Candle? Rajandran sir does this repaint ….. Sir, this code is producing errors as SK has said above. Hi, Make sure you are familiar with testing future mode. Rajendran Sir, Kindly guide as how to test the future mode. Hi try to use amibroker 5. Rajendran, Just wanted to say thanks for all the time and effort you are taking to educate the viewers. Support and resistance areas are also a good help in your analysis — you would not trade into supply or demand levels just because the HA candle told you the trend was changing.
It is important to remember that Heiken Ashi candles, just like any other indicator lag the price action so you must not use them as a means to bypass your technical analysis of the actual price action candles. Some traders I know add an oscillator onto their chart to help refine entries.
For example you could add the Stochastic Oscillator and if you get an overbought reading in a downtrend, it could indicate a stronger sell signal. Other traders just open trades based on another signal all together and only when the trade is open do they look at the Heiken Ashi candles. Doing this can help them maximise profits by not exiting a trade too early. So for example they might open a short trade and after a few hours see the price action stalling.
Now normally this might make them take profits; however the Heiken Ashi candles may still indicate a strong down trend by plotting bearish candles. So instead of taking profits they may just let the trade continue or even add additional positions. Adding more positions is a fantastic way to take advantage of a long trend that develops and the Heiken Ashi candles can really help you do this.
This is perhaps their greatest asset if used with proper money management. Obviously not every trend lasts a long time but if you can catch the long, several hundred pip moves or most of them and have multiple positions opened along the way you can really start to see you balance increasing.
If you are using older version of Amibroker consider upgrading to New Version.
For testing, I decided to take the following time intervals: Be sure to verify that any information you see on these pages is correct, and is applicable to your particular trade.