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Showing posts with the label breakout

Heiken Ashi

This Heiken Ashi indicator for MetaTrader has been improved with a moving average band, very useful to determine the levels where the price might reverse or breakthrough and change the trend. When trading with the trend, you probably want to buy above or when the price leaves the EMA band rising up, or sell when the price is below the EMA band or drops below it, and proceed with caution when the price stalls within the bands.
It is worth to mention that the Heiken Ashi candles are mainly used to remove the normal candles' distractions, especially when the price forms small consolidation zones and the trader is tempted to enter a trade based on the candlestick color.
You can download this Metatrader indicator free from here.

Stairsteps Expert Advisor

The main idea behind the trading strategy of RobotFX Stairsteps expert advisor is to trade breakouts of consolidation zones. It often happens that the price moves in a defined range (ie the price consolidates) for a while, and then breaks out of these consolidation zones. When this happens, many traders set pending orders above or below these zones - if they are following the trend, or at both ends if they are uncertain of the trend - in this case traders should consider using an OCO (one cancels other) approach. When the price breaks out of the CZ (consolidation zone) and hits the pending order(s), a trade will open.

To better understand how the RobotFX Stairsteps EA works please check the screenshot below. As you can see, the trend is down. The price goes down step by step, just like a stair. The stair steps are the consolidation zones. RobotFX draws the CZ and enters short trades as soon as the price leaves the consolidation zone, down.
We do recommend following the trend and don’t…