help executing a MFI / Heiken Ashi strategy

[antron3]

Hey guys, I'm brand new here and trying to work out how to use the software.

I wanna implement a simple MFI strategy using Heiken Ashi (HA) candles.

When the MFI is in a buy signal, it waits for the first green HA candle to close then buys.

How do I do this? I worked out how to get the MFI onto a trade bot and I can see the buy/sell signals coming off it

Now how do I get the buy signal to be conditional on closing the first green candle?

Also, I want it to just buy once on the first green, then probably hold til either the MFI changes to 'sell level' or until you get 2 red candles in a row.

Sorry to ask for help like this but its my first go and I'm not that good with computers.

[billyboy402]

I was just about to ask a question like this , would be great if we can get it to trade of a color candle .,

this is like the easy trade stratgy - http://humbletraders.com/heikin-ashi-trading-strategy/

it almost as easy as MA cross

[TDCON]

Any update on this, I'm curious about the "trade on the first green candle" as well.

[pshai]

This is possible to implement with scripts. The simple pseudo would be:

Code: Select all

if (MFI == buy && candle == isGreen)
    Buy;
else if (MFI == sell && candle == isRed)
    Sell;

Unfortunately our C# scripts wont be as simple as that. With HaasScript this will be easier, but it is currently under heavy development and we do not advise to use it for the time being.


~pshai

[DRFGTO]

Hi there,
It seems HaasScript is now up and running, is it now possible to implement a similar trading strategy?

Cheers!

[giannia]

You can't read candle colors but you can simulate this using another indicator like MACD. I'm using MFI + MACD with proper parameter to do this. Use default candlesticks with MFI since Heiken Ashi give worse results.