Jump to content

What do you think about Heiken-Ashi candles?

Recommended Posts

Guest VCAP75

I am a very frequent user of HA candles. But my personal feeling is that these are more reliable on longer term time frames to capture a general perspective on the overal trend (and specifically changes in trend) than on shorter time frames.

I do not like technical indicators that much, so I mainly place reliance on horizontal support resistance and that's pretty much it. For this, I need regular candles as HA is not useful for S/R analysis.  Once I've formed any opinion on Horizontal S/R (on daily or weekly time frames) I switch to HA to see if I can visualize a general direction.  If a daily HA candle is showing continued upward trending for example, wait for a trading day where it is trading downward vs previous day and I look to enter a long position and vice-versa for shorting. I only use HA on 5 minute time frames to figure out when I may want to enter/exit a position. But only after I have determined that I want to take a position based upon the analysis I mention above.

So yes I use HA, but only to forecast an overall trend. I regularly switch back and forth to regular OHLC candles before taking a position.  Otherwise I do not really use any other technical indicators.

No matter what, all indicators and HA are going to be lagging in time, so it is best to form opinions based on multiple pieces of information rather than indicators alone.

Link to comment

i use them, but i would like to have the option to toggle quickly between both the candles so you could maybe turn hotkeys on your key board so you tap 'h' or something and then again to turn it on/off. Like you said i also like to use it to compliment the trading but not have it as the sole chart. Spiltting the chart also works. 

Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Posts

    • Sainsburys full year earnings and Unilever’s first quarter trading update both say the same thing, UK consumers are in for higher prices. The war in Ukraine, supply chain issues and the effects of ongoing Covid all to blame.      
    • US Dollar (DXY) Daily Price and Analysis US Q1 GDP may stall the greenback’s advance. A 20-year high nears for the US dollar. The multi-month US dollar rally continues with the greenback printing a fresh high today ahead of the first look at US Q1 GDP at 12.30 GMT. The US dollar basket (DXY) has been boosted by renewed weakness in the Euro and the Japanese Yen, as investors move from lower-yielding to higher-yielding currencies, while safe-haven flows continue to benefit the greenback. The US growth release later in the session is expected to show a sharp slowdown from the robust Q4 figure of 6.9%. The markets are currently pricing in growth of just 1% for the first three months of this year, with the slowdown mainly due to a reduction in inventory accrual over the quarter. This release is unlikely to move the greenback, unless there is a large miss or beat, as the Fed believe that 2022 US growth will be robust enough to let them tighten monetary policy sharply without damaging the economy. The latest US Core PCE data – the Fed’s preferred inflation reading – is released on Friday and this may have more effect on the US dollar than today’s GDP data. For all market moving economic data and events, see the DailyFX Calendar. The ongoing US dollar rally has been aided by weakness across a range of G7 currencies including the Euro, the Japanese Yen, and the British Pound. The Euro continues to battle with lowly growth expectations, exacerbated by energy concerns, the British Pound is mired by weak economic data, while the Japanese Yen is in freefall as the BoJ continues with its ultra-loose monetary policy.   The US dollar continues to press higher and looks set to break above 103.96, the March 2020 high. Above here the US dollar would be back at levels last seen nearly two decades ago. The March resistance will likely hold in the short-term, especially with month-end portfolio rebalancing at the end of the week, but US dollar strength is set to continue in the months ahead. USDOLLAR (DXY) WEEKLY PRICE CHART – APRIL 28, 2022 {{THE_FUNDAMENTALS_OF_BREAKOUT_TRADING}} What is your view on the US Dollar – bullish or bearish?   Apr 28, 2022 | DailyFX Nick Cawley, Strategist
    • While Tesla has nothing directly to do with Elon Musk buying Twitter - TSLA stock closed down 12% on news that Musk may have to sell stock and use other holdings to stand against the loan to finalise the purchase of the social media giant.        
  • Create New...