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What do you think about Heiken-Ashi candles?


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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.

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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. 

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