Cool title, huh? The system also think I actually quite "cool" or at least "interesting" - perhaps even profitable? I have only very rarely getraded, however, was the hit rate is fairly high. So, I give you at this point precisely times before. Let's talk about the bare Setup:
Scalping FX with Heiking Ashi & CCI
Scalping FX with Heikin Ashi & CCI
Chart: Heikin Ashi
Indicators: CCI (34), CCI (170), RSI (8)
Time Frame: original M1, which I recommended M5 - theoretically works but each time frame
Since this system as a Forex Scalping system is declared, what is actually in the M1 should be traded, you should, according to the original source only in the direction of the parent window to act. What also makes sense, but when you but in a higher time frame involved, this proposal eliminates more and more the higher is the time interval. Moreover, the conditions, Long enter the following:
CCI (34)> 0
CCI (170)> 0
RSI (8)> 55
And of course: The color of the candles Heikin-Ashi Candles must be in black and white (or whatever color you've ever set) have handled. However, it is important to mention here that the new candle with the "right" color must be already completed. An initial while the candle still train seems to be not useful because the color cartridges can still swing! So generally not too early once owned!
In order to go short of course, it needs exactly the inverted signals:
CCI (34) <0
CCI (170) <0
RSI (8) <45
And once again, a change of Candlesticks from white to black (or similar).
Given the current price is already a good bit of movement before a change of color candles has been confirmed, it was during my test runs is not very useful in the M1 every movement you. One has here, as so often the problem is that very often a trade signal is then what in the end but not very lucrative. After disembarking you should, as soon as the candles turns color once again. This can be done in a smaller time frame with little movement already 2-3 Candles later be the case. If the main prize of the rash through the first candle was due, man 2 is relatively "flat" candles later probably PIPS with a negative amount from the trade out. So on a strong volatility Acht!
I found the trade in this trading system in the M5 much better. These are really only slightly larger board movements and relatively accurate abgepaßt. By filtering through CCI and RSI are really only for the initial phases used by a certain amount of market activity dominated. For this reason, the system should perhaps only in the time between the opening of the London Stock Exchange and the closing of the New York Stock Exchange trading. Also lends itself to only the major currency pairs with this system to act. Who in the night the exchange rate of euro to forint keeps an eye on, you can probably all night long to wait for an entry signal. ;-)
What struck me once again to bring another topic: In the Ninja Trader Heikin are Ashi Candles in the current version is only for display there, but there are already several indicators elaborated by the Heikin Ashi Candles use. Instead now the whole day in front of the Chart to sit on an initial signal to wait, I'll probably even this strategy in NinjatTrader back testing. Because the entry and exit can be found at this strategy (as opposed to Linux or Trolltech Hull Scalping) relatively easy to automate.
Successful Forex Scalping I wish you!
