Above/Below TMA - Opposite Heikanashi Candle - Open Order

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  • updated
  • Completed

Hello All

So like explained on the Telegram, here is the idea which I already have coded in a EA (paid for a coder)

Buy Condition: 1) Candle close breaking below lower TMA Band 2) Now EA will wait for first green heiken Ashi candle 3) As soon as green heiken Ashi occurs. 4) EA will open buy trade with X points SL and X2 Points TP 5) EA will have closeonOposite true/false option, if true then it will close buy trade on first Red heiken ashi candle 6) It has trailing option as well with trail start input, trail first move , trail next step and trail next stop inputs Sell Conditions are vice versa Note: You need to input TP/SL / Trailing points which your broker allows , should not be too small which your broker does not allow

If multiple opposite candles above or below TMA opens another order.

Still got problems when there is a long downtrend/longtrend with multiple fake reversals, Heikanashi filters out but still not enough or causing to lose too many trades in the process, balanced cannot be found, stretching TMA too much is the same issue. Users in Telegram suggested Renko Candles, still verifying that one, but I guess Andrey can do better than me and my Fiverr Developer.

Attached is everything you need:

The working EA: June_EA_TMA_v2.zip

The necessary Indicator: TmaTrue.ex4 (The EA will look for this in the indicator folder)

And to download directly on MT4 the indicator in the picture here:

Image 84


Is free but has to be in the market folder and is the one used by the EA as allows for more sensitivity costumization to apply it to different charts.

Let me know what you guys think and what can be done.

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Andrey Khatimlianskyi
  • Under review
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Andrey Khatimlianskyi

Thanks you for suggestion!

We need 2 more filters to allow this strategy work:

  • Allow BUYs only after bar closed under lower TMA line / SELLs above upper TMA line
  • Allow BUYs only after green HeikenAshi bar / SELLs after red bar

Also we need to improve TrailingStop (but I'm not sure we really need) and add close by HeikenAshi bar with opposite color.

Is everything clear?

Also we need to find both two indicators for both MT4 and MT5. And they must be free, of course.

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Andrey Khatimlianskyi

As for Renko.

MetaTrader doesn't allow to work with Renko in easy way. You should "dance" a lot to run EA on Renko chart and even can't test it on history.

So, I don't think the idea to add Renko is good.

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alessandro benigni

Yes, also Giulio was suggesting applying Renko Charts to further increse accuracy of the heikanashi and remove false signals and not sure if it can further improved without losing many trades by adding something else, But I do notice this strategy performing better in high volatility moments so possibly time filter will be enough to remove a big part of false signals and too short trades to close in profit. 

What should I do? Find those 2 indicators with source code for you? Or you got it covered?

Thanks Andrey (And Giulio)

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alessandro benigni
Quote from Andrey Khatimlianskyi

As for Renko.

MetaTrader doesn't allow to work with Renko in easy way. You should "dance" a lot to run EA on Renko chart and even can't test it on history.

So, I don't think the idea to add Renko is good.

If Renko cannot be applied we need to find an additional filter, if you visually backtest it you will see what I mean, I tweaked the TMA configurations so much that they almost became a flat line to make it kinda succeed, there is definitely a missing ingredient or 2 in that recepy

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Andrey Khatimlianskyi

We already have few filters. Let's check them in combination with new ones.

Yes, please, try to find indicators in mql5.com CodeBase

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Andrey Khatimlianskyi
  • Started

We have separate topic for HeikenAshi filter - https://communitypowerea.userecho.com/en/communities/1/topics/41-heikin-ashi-filter

TrailingStop is already improved.

Starting to implement TMA as base indy in MA filters..

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Andrey Khatimlianskyi
  • Completed

TMA as base indicator for MA filters - done in 2.23!