235# Randy Candles Method
Heiken Ashi Trading Method
Submit by joy22 (Written by Randy)
You need to have the regular Heinken Ashi indicator installed into MT4. Other than that I share a pic of what they look like, a template (RandyCandle Zoom), and a profile of my setup w/ the Current HAS method.....
Ok...first off before RandyCandles, we need to talk about reference points. You need to have reference points like a pilot needs to know where the horizon is. There are 2 types: (1). Static These are fibs and pivots and murrey math and camarillas and S/R levels and recent/past ledges, box trading, hi's lo's etc. I guess I'll keep it simple and say I use Camarillas ….Dynamic. They move….btw... we are talking about support and resistance points to price action ...I put 2 other Dynamic references on my charts. These are not mine. These are the Dinapoli SMA settings.
The Yellow line I call the D line. It is my anchor...my horizon. I relate everything in relation to it. It is the SMA 25; shift 5; applied to price close. The shift just moves the whole SMA line forward 5 periods ahead of current candle which effects the price intercept slightly.
The Pink line is the SMA 3; 3; close. For the record the other DiNapoli line is the SMA 7;5;close.
Ok here's the basic RandyCandle thing: They work on all time frames. They don't repaint. Entry usually based on the 15M chart.
THE ALERT CANDLE: 1. The appearance of an Alert Candle is your FILTER. 2. correct alert candles simply have stems ABOVE AND BELOW; they are small to moderate in size. 3. they can be any color combination, however chili peppers and zorros are ideal. 4. the BEST alert candles will CROSS and close OVER the Pink SMA. 4. the alert candle is NOT the entry candle!!! DO NOT ENTER on an alert candle. 5. If you enter on an alert candle, you have failed.
THE ENTRY CANDLE: You must WATCH the entry candle develop to make your decision. 1. The Entry Candle must obviously have the right HA color for your direction. 2. It must have the correct stem color for your direction...wait till you get it! 3. The "preferred" entry candle should only have the stem going your way.(not an absolute rule however). 3. The BEST entry candles are birthed having ALREADY crossed the SMA Pink. 4. If the above scenario has happened and you are let's say at the top of a fan.... you ALREADY have a 90% probability of putting in a correct entry of both timing and direction....have some confidence!!!! read more on pdf.
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