Renko + 2 heinken ashi approach (Renko + 2 heinken ashi approach)
Hello everyone
I have an idea for a trading method. Just an idea, not tested yet. It is based on 2 pip brick trading with heiken ashi (HA) and heiken ashi smoothed (HAS).
Entry length:
The last candle of HA and HAS closed upward.
Exit long:
The HA candle changes color at the close.
The entry is short:
The last candle of HA and HAS closed downward.
Short-term exit:
The HA candle changes color at the close.
Purely mechanical method. The advantage of Renko charts is that they show price action very well. The downside is that prices change very quickly and you can easily miss valid entry (or exit) points when you trade manually, but this can be a good way to automate trading. Since the fluctuation occurs over a short period of time, I guess you could consider it scalping.
Maybe worth a look.
The solid golden line represents the 50-point interval, and the golden dashed line represents the 10-point interval. Less obvious on miniature images. See full image for details.
http://img850.imageshack.us/img850/9166/screen4.gif
Cheers Paul
I have an idea for a trading method. Just an idea, not tested yet. It is based on 2 pip brick trading with heiken ashi (HA) and heiken ashi smoothed (HAS).
Entry length:
The last candle of HA and HAS closed upward.
Exit long:
The HA candle changes color at the close.
The entry is short:
The last candle of HA and HAS closed downward.
Short-term exit:
The HA candle changes color at the close.
Purely mechanical method. The advantage of Renko charts is that they show price action very well. The downside is that prices change very quickly and you can easily miss valid entry (or exit) points when you trade manually, but this can be a good way to automate trading. Since the fluctuation occurs over a short period of time, I guess you could consider it scalping.
Maybe worth a look.
The solid golden line represents the 50-point interval, and the golden dashed line represents the 10-point interval. Less obvious on miniature images. See full image for details.
http://img850.imageshack.us/img850/9166/screen4.gif
Cheers Paul
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