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I wanted to give a thanks to FatTails for his Heikin Ashi v4 study contribution. I am a futures trader with a focus on ES and CL. This study does a fantastic job of simplifying trend work that I have done manually for years. Attached is my primary trading chart using said study.
There are two kinds of traders: A) Level Pickers who attempt to call tops and bottoms and B) Momentum Traders who attempt to "do what the market is doing right now." I am a Momentum Trader.
Regarding the chart setup:
1. 1000 volume chart - The purpose here is to eliminate the variable of time.
2. Heikin Ashi v4 - Using the Vervoot smoothed HA candle style. I changed the default "median" option to the ZerolagHATEMA. The reason is two-fold. One, it eliminates the wicks and tails that can clutter the screen and two, it shows turns very clearly. The default 10 periods works great.
3. To support a trade entry, I also look at a plain 30 minute chart to aid in direction.
4. A plain HA candle chart of the 1000 volume can aid in making good decisions about an entry price.
Hope this helps. Feel free to ask for more detail or screen shots should you need them.
If by what you mean is that the chart doesn't follow the price directly, that is true. It's a very smoothed chart and just gives a general picture of what the market did.
I downloaded the HA v4 indicator today, and do not have the option of Vervoot or the other settings in your settings screenshot. Would you help me find the proper thread where this variation exists? (my search was unfortunately unfruitful)
I noticed you also have another trend like indicator on the chart you dont mention, I've seen this before (in fact think I've loaded it before) but don't recall its name.