HeikenAshi Trend Continuation Strategy is a magic of two indicators that produces enomous successfull trading results over the years. It is a complete trend following forex trading system that covers trend detection, market entry and exit points for its users.
HeikenAshi Trend Continuation Strategy can be applied to trade all kinds of forex currency pairs. Besides it suits with all sorts of timeframe charts. Because of its simplicity of use and easy signal reading method, newbie trend-based trades can also be benefited by applying it on their trading charts.
HeikenAshi Trend Continuation Strategy Overview
After the installation of HeikenAshi Trend Continuation Strategy at your forex MT4 platform, your trading chart will appear like the following image:
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HikenAshi Trend Continuation Strategy Anatomy
- HeikenAshi: A very popular forex trend identifying indicator. It is plotted vvery close to the price bars. It turns green when the trend is bullish. For a bearish trend confirmation, HeikenAshi must be turned red.
- 100 EMA: It is a 100-day Exponential Moving Average. It is used to identify the intraday forex trends of the market. Price closes above the 100 EMA level when the trend is bullish and an opposite scenario represents the bearish trend confirmation.
HeikenAshi Trend Continuation Strategy: Buy Parameters
- HeikenAshi turns green
- Price closes as a bullish bar above the 100 EMA level
- Buy triggers whenever the above conditions are met
- Set stop loss below the 100 EMA level
- Exit long/take profit whenever the HeikenAshi turns red
HeikenAshi Trend Continuation Strategy: Sell Parameters
- HeikenAshi turns red
- Price closes as a bearish bar below the 100 EMA level
- Sell triggers whenever the above conditions are met
- Set stop loss above the 100 EMA level
- Exit short/take profit whenever the HeikenAshi turns green