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Dual Heiken Ashi Forex Trading Strategy

Jun 25, 2019
Download Indicator
Dual Heiken Ashi Forex Trading Strategy

You can now download the Dual Heiken Ashi Forex Trading Strategy for free on AtoZ Markets indicators gallery

Dual Heiken Ashi Forex Trading Strategy is based on a low noise indicator. As you would notice, the Heiken Ashi Smoothed indicator naturally has little noise, even with its standard parameters. It usually changes color only when the trend is changing. Adding the slower Heiken Ashi Smoothed indicator with a 50-period parameter allows us to filter out false signals even further.

There will be times when the color would change prior to the take profit target being reached. You could have several approaches on existing trades. You could either stand your ground and not touch anything until either the stop loss or take profit target is reached. This could be done because there is a high chance that price would quickly go back towards the direction of your trend because of the bigger picture trend.

Indicators:

  • Heiken_Ashi_Smoothed (fast parameters)
    • MaMethod: 2
    • MaPeriod: 6
    • MaMethod2: 3
    • MaPeriod2: 2
  • Heiken_Ashi_Smoothed (slow parameters)
    • MaMethod: 2
    • MaPeriod: 50
    • MaMethod2: 3
    • MaPeriod2: 2

Timeframe: 1-hour or 4-hour chart

Currency Pair: any

Session: any

Buy (Long) Trade Setup Rules

Entry

  • The fast Heiken Ashi Smoothed candles should be above the slow Heiken Ashi Smoothed candles.
  • Slow Heiken Ashi Smoothed candles should be color blue.
  • Enter on the color change of the fast Heiken Ashi Smoothed indicator from red to blue.

Stop Loss

  • Set the stop loss at the swing low or fractal below the entry candle.

Take Profit

  • Set the target take profit at 2x the risk on the stop loss.

Sell (Short) Trade Setup Rules

Entry

  • The fast Heiken Ashi Smoothed candles should be below the slow Heiken Ashi Smoothed candles.
  • Slow Heiken Ashi Smoothed candles should be color red.
  • Enter on the color change of the fast Heiken Ashi Smoothed indicator from blue to red.

Stop Loss

  • Set the stop loss at the swing high or fractal above the entry candle.

Take Profit

  • Set the target take profit at 2x the risk on the stop loss.

How to download and install an indicator?

In order to install the indicator on your MT4 platform, you need to follow these steps:

  1. Click on “Download Indicator” button located at the top right corner of the screen.
  2. Save the file to your computer.
  3. Extract and move the files into MT4>Indicator folder of the MetaTrader4 software file directory.
  4. Restart your Metatrader platform.
  5. Navigate to “Indicators.”
  6. And select “Doji Candlestick Forex Trading Strategy” template to apply it on the chart.

 

Note: This indicator was developed by T. Morris. AtoZ Markets does not carry any copyrights over this trading tool.

Disclaimer: The views and opinions expressed in this article are solely those of the author and do not reflect the official policy or position of AtoZ Markets.com, nor should they be attributed to AtoZMarkets.

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