Strategy based on consecutive Heikin Ashi candles
Heikin Ashi Consecutive waits for several same-color Heikin Ashi candles to confirm momentum. After a run of bullish or bearish bars the strategy joins the move and exits on the first opposite candle or an ATR stop.
Because Heikin Ashi charts smooth price data, a series of like-colored candles highlights a strong directional move. The trailing ATR stop attempts to lock in gains if the sequence abruptly reverses.
Entry Criteria: Signals based on Heikin.
Long/Short: Both directions.
Exit Criteria: Opposite signal or stop.
Stops: Yes.
Default Values:
ConsecutiveCandles = 3
StopLossPercent = 2m
CandleType = TimeSpan.FromMinutes(5)
[*]Filters:
Category: Trend
Direction: Both
Indicators: Heikin
Stops: Yes
Complexity: Basic
Timeframe: Intraday (5m)
Seasonality: No
Neural Networks: No
Divergence: No
Risk Level: Medium