Steinitz HAS MTF **Theory & EA**

[steinitz]

Originally Posted by et_phonehome_2

What is meant by the blue bar has a red inside and vice versa? Does it mean the HA bars are shrinking in size for the major color, eg., blue encircles red meaning the long HA is decreasing in size therefore potentially reversing?

ET....

The wick of the HAS indicator always determines the color of the HAS candle and MTF HAS bar. When you see a red dot in the center of the blue MTF HAS bar it means the HAS candle had a blue wick and a red body.

The wick color determines the color of the candle and MTF HAS Bar. And of course visa versa.

yes. Great observation! When the HAS candle displays a wick/body color it means change in volatility and the bar is usually smaller.

The larger the bar height the greater the volatility in price.

Wick is based on the high and low price.

Body is based on the open and close price.

Don

[bossxero]

Hey Stein,

Can this system be used for intraday trades using lower timeframes like the M5 or M15? Did you experiment with it?

[steinitz]

Originally Posted by bossxero

Hey Stein,

Can this system be used for intraday trades using lower timeframes like the M5 or M15? Did you experiment with it?

Absolutely. In fact it has an internal SL & TP that is only seen by EA to avoid stop hunting. You could actually go after a 1 pip order sucessfully. Of course you can't do that with your broker. It also has an external order that the broker sees. It is set for 1.5 multiplier as a safety SL & TP.

[scorpion]

So where's the system? If creating this thread is all about advertising your commercial product, I'll move this to Classified Ads. You gotta to share some kind of system to have your thread here. I suggest a lite version of it.

[steinitz]

Originally Posted by scorpion

So where's the system? If creating this thread is all about advertising your commercial product, I'll move this to Classified Ads. You gotta to share some kind of system to have your thread here. I suggest a lite version of it.

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ENTRY

I was looking to go slow on this and let people ask questions first. I don't see a a lot of responses.

However, in the interest to move quicker I will give you the manual version here.

1. Start with the highest TF that you are looking to trade. If your highest Tf is the daily for example take note of the color of the HAS indicator and MTF HAS bars. If the daily closed bar is blue then you are looking to trade LONG.

2. Step down one TF at a time on the Metatrader4 platform until you see the first RED candle. This should be a CLOSED candle only. This is called the "Alert TF". I will be referring to this a lot.

3. Now I want you to move down one more TF lower to the "Entry TF". This TF should also have a RED candle. It should be closed as well.

4. You now wait for this TF to turn to a BLUE candle. This candle can be unclosed to enter. The reason we are on this TF for an entry is because we are counter trading and do not want to enter late. This TF affords us a more sensitive reaction to price for entry.

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EXITS

1. Each TF that you found as an alert TF has it's own unique take profit. You need to decide what TP you have as an exit before hand for every Alert TF. Here is what the EA has and I recommend that you follow this closely but it is not in stone.

1. Weekly = 100 pips
2. Daily = 60
3. 4Hr = 30
4. 1Hr = 25
5. 30M = 20
6. 15M = 15
5. 5M = 8
6. 1M = 5

So that would be your guide to set your TP targets. I have much more fine points to discuss but lets see if you guys understand this so far.

[bossxero]

How about the bad signals and noise? Yesterday I opened a long on the e/u following your method exactly, till now its in negative and i am just hoping it goes up. Do u use any kind of filter?

[steinitz]

Originally Posted by bossxero

How about the bad signals and noise? Yesterday I opened a long on the e/u following your method exactly, till now its in negative and i am just hoping it goes up. Do u use any kind of filter?

Market noise is inevitable. This method will get you through any noise as long as you always follow the rules. The longer TF's are better to protect from long periods of DD. The lower TF's are susceptible to more volatility but will eventually come back top profit.

It's really amazing to see how a position starts off in the negative and turns into profit with ease.

It is quite normal to start off with some DD as we are entering the counter trends. Please see this as VERY NORMAL......

I have closed out 15 positions this week with the EA which is 265 NET pips. It works like a machine. Just learn the manual method which in itself will be very profitable. You should trade 10+ pairs at once to gain the best results.

Don

[droesparky7]

Say you want to use the 4hr chart
You would go down to the 30 min for entry.

so what if the 4hr is red and the 1 hr is red and the 30 min is red.
do you wait for the 30 min to turn blue and back red to enter short?

Is there any suggestions for stop at different entry levels, you should have some idea for that by now. I know it will end up be subjected to each traders risk tolerence, but thought you might have a general idea for this by now.

[steinitz]

Originally Posted by droesparky7

Say you want to use the 4hr chart
You would go down to the 30 min for entry.

so what if the 4hr is red and the 1 hr is red and the 30 min is red.
do you wait for the 30 min to turn blue and back red to enter short?

The 4hr is the highest TF that you are looking at. This is the trend that you are going to follow. You move down one TF at a time until you come to the first blue candle. That is the alert TF. Now you move down one more lower TF and wait for that TF to turn red and enter.

Is there any suggestions for stop at different entry levels, you should have some idea for that by now. I know it will end up be subjected to each traders risk tolerence, but thought you might have a general idea for this by now.

Actualy I don't advocate a stop. If you need to have a stop you will have to know what the ATR is for each pait and TF. The EA does this calculation automaticaly. You can add an ATR 14 period indicator and see what is typical and adjust from there.

[WHTenn]

You posted in the wrong thread



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