Fading Heikin Ashi Bullish Streaks with an RSI Filter

Summary

This short-only strategy looks to fade a sustained bullish run in Heikin Ashi candles. It combines a configurable streak count on a selected Heikin Ashi timeframe with an RSI condition on a separately selected timeframe; the defaults use seven bullish candles and a 60-minute RSI above 46. Either filter can be adjusted, including switching the candle streak to bearish or the RSI comparison direction.

The strategy opens a single base position and sets a fixed take profit and stop loss relative to the average entry price. It does not add to the position or trail exits. The script also includes optional date limits, market or limit entry behavior, chart status displays, and webhook alerts. It provides implementation details and configurable defaults, but no reported performance results, market-by-market evaluation, or evidence that the signals are profitable. Results would depend on the instrument, chart timeframe, execution assumptions, and parameter choices.

Key ideas

• The entry signal requires both an RSI condition and a consecutive Heikin Ashi candle streak.
• The default short setup fades seven bullish Heikin Ashi candles when the 60-minute RSI is above 46.
• A single base order is used, with a fixed take profit and stop loss based on average entry price.
• The script has no averaging or trailing stop, and it reports no strategy performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.