Hello there, I wish you are all well.
Coming back to this Heiken ashi smooth indicator, I found a free expert advisor that works just as I wanted, meaning that it changes direction according to the colour, and it implements customizable stop loss, break even and trailing stop. I will give some explanations of these settings at the end. It is giving good results, but I'm having a bit of a problem with some orders that are not being placed because "trade operations not allowed by settings". So I only get for example two orders placed, whilst some others should be placed as well(for they are in accordance to the parameters set). This is so annoying.
Does anyone know how to fix that?
Thank you very much in advance, I hope to hear from you soon,
Best regards
Hainvestor
http://www.pointzero-trading.com/Products/view/PZHeikenAshiEA
I'm currently using it with H4 and weekly TF. Parameters: 3,6,3,2. Due to spread and fast moves, I don't think one can earn any money over the long term with this strategy on smaller time frames, but you can use it one a demo account on small time frames just to see how it works. I'm using a VPS. Once this problem being fixed, I might use the daily time frame rather than the weekly, and continue using the H4. Just change the magic number.
If anyone would like to download and have a try, here go some explanations about the position management:
Break even in pips : distance from the entry point that the stop will be placed once it breaks even
Trailing stop in pips: percentage of the distance compared to the stop loss that the pair must evolve before it breaks even ( for exemple, if your stop loss is 100 pips and you think the pair can easily run some 40 pips before pausing or coming back, you set the trailing stop to 40 percent)
Trailing step: from my experience to this point it is better to set it to be in accordance with the trailing stop( considering the example above, it should be set to 40 pips)
Stop loss: the distance in pips that the stop loss will be placed
Take profit: i'm not using it
Close on opposite signals:true
Obviously you must accept that during ranging periods, it will close position on a small loss, then take position again on the opposite side once the bar closes.
Coming back to this Heiken ashi smooth indicator, I found a free expert advisor that works just as I wanted, meaning that it changes direction according to the colour, and it implements customizable stop loss, break even and trailing stop. I will give some explanations of these settings at the end. It is giving good results, but I'm having a bit of a problem with some orders that are not being placed because "trade operations not allowed by settings". So I only get for example two orders placed, whilst some others should be placed as well(for they are in accordance to the parameters set). This is so annoying.
Does anyone know how to fix that?
Thank you very much in advance, I hope to hear from you soon,
Best regards
Hainvestor
http://www.pointzero-trading.com/Products/view/PZHeikenAshiEA
I'm currently using it with H4 and weekly TF. Parameters: 3,6,3,2. Due to spread and fast moves, I don't think one can earn any money over the long term with this strategy on smaller time frames, but you can use it one a demo account on small time frames just to see how it works. I'm using a VPS. Once this problem being fixed, I might use the daily time frame rather than the weekly, and continue using the H4. Just change the magic number.
If anyone would like to download and have a try, here go some explanations about the position management:
Break even in pips : distance from the entry point that the stop will be placed once it breaks even
Trailing stop in pips: percentage of the distance compared to the stop loss that the pair must evolve before it breaks even ( for exemple, if your stop loss is 100 pips and you think the pair can easily run some 40 pips before pausing or coming back, you set the trailing stop to 40 percent)
Trailing step: from my experience to this point it is better to set it to be in accordance with the trailing stop( considering the example above, it should be set to 40 pips)
Stop loss: the distance in pips that the stop loss will be placed
Take profit: i'm not using it
Close on opposite signals:true
Obviously you must accept that during ranging periods, it will close position on a small loss, then take position again on the opposite side once the bar closes.
