bennef

Heiken Ashi BF πŸš€

Heiken Ashi candles help us to identify a trend.

This strategy simply enters a long when the Heiken Ashi candles turn green and a short when they turn red.

Because of the way BTC price moves in medium term trends, this simple strategy seems effective.

There is a rate of change function applied to avoid some of the choppy sideways action (thanks again to kiasaki for the code)

There is a 2% fixed stop loss applied and an optional take-profit setting. You can change both in the settings.

As you can see from the code, this strategy does not enter trades based on the Heiken Ashi closes, rather the actual price close. This is an important distinction since the HA closes are based on an average of the OHLC values so attempting to enter at that price may not always be possible. There are some "strategies" that use this information to try and con people by appearing to have awesome entries that are actually not attainable in all cases.

  • Green = Long
  • Red = Short
  • White = No trade
Release Notes: Small changes
Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Comments

I love this script. So simple, yet it looks so effective on BTC. I was about to start trading this using a bot, have you tried trading this @bennef? How is it working for you in forward testing?
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bennef HolRiz
@HolRiz, I don it trade using this script, it’s more a demonstration of how a simple strategy can work well. I am happy you find it to be useful.
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