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Strategies / Momentum / Heikin Ashi Upper Wick Momentum

Heikin Ashi Upper Wick Momentum

The strategy buys when a green Heikin Ashi candle has an upper wick. It sells when the upper wick disappears or the lower wick grows larger than the upper wick.

MomentumLong onlySwingNasdaq 1004 hours
n/aProfit factor
7,659Net profit EUR
36.27%Win rate
4,252Trades
-5,510Max drawdown
1.80Avg trade

Best run of 6. Nasdaq 100, 4 hours, spread 3, from run sweeps:2026-10-04-NAS100-4h-opt.tsv:118.

Entry rules, long

  1. The Heikin Ashi candle is green, with its close above its open.
  3. Signals are checked only after bar 10 and only when no long position is open.

Exit rules

  1. The upper wick is 0, or the lower wick is larger than the upper wick, and the long is closed at market.

Test conditions

PeriodUp to 2026-10-04
InstrumentNasdaq 100, 4 hours
Spread3 points
Starting capital1,000,000
CostsSpread only. Commissions and overnight financing are not included.
BarsUp to 200,000 bars, fewer where the instrument has less history
Last tested2026-10-07

Every run

Markets and timeframes tested

MarketTimeframePFTradesWin %NetMax DD
Nasdaq 100Best run4 hoursn/a 4,25236.277,659 EUR-5,510
Dow Jones4 hoursn/a 1,37440.0313,601 EUR-8,482
Dow JonesDailyn/a 1,91740.1713,193 EUR-8,768
DAX 404 hoursn/a 4,10639.8212,360 EUR-4,656
Nasdaq 100Dailyn/a 1,46637.456,046 EUR-5,962
Gold4 hoursn/a 4,23935.341,383 EUR-1,101

Charts

Results by run

Net profitMax drawdown

The code

ProBuilder code, as tested

// ==============================================================
// Heikin Ashi Upper Wick Momentum
// ProRealAlgos Strategy Library  |  prorealalgos.com
// Type: Momentum
// Direction: Long only
// Timeframe tested: 4 hours
// ==============================================================

DEFPARAM CumulateOrders = false

ONCE haopen = 0

haclose = (open + high + low + close) / 4
IF BarIndex = 0 THEN
    haopen = (open + close) / 2
ELSE
    haopen = (haopen[1] + haclose[1]) / 2
ENDIF
hahigh = max(high, max(haopen, haclose))
halow = min(low, min(haopen, haclose))
upwick = hahigh - max(haopen, haclose)
lowwick = min(haopen, haclose) - halow

11 more lines: the entry and exit rules.

Setup

How to load it

  1. Copy the code with the copy button on the code block.
  2. In ProRealTime, open a chart of the instrument and timeframe you want to test, then open ProOrder > New trading system and choose "Create with programming".
  3. Paste the code, give the system a name and save it.
  4. Click "Backtest", set your own spread and position size, and run it before you consider trading it live.

Indicators used

Heikin Ashi
Read this firstKnown weaknesses3 points
  • No profit factor is available, because only sweep results exist for this strategy.
  • The maximum drawdown of 5,510 EUR is large next to the net profit of 7,659 EUR.
  • The code sets no stop loss, so a losing trade stays open until an exit signal arrives.

Questions

About this strategy

Can I run Heikin Ashi Upper Wick Momentum in ProOrder?

Yes. The code is ProBuilder and runs as an automated ProOrder system. Backtest it on your own account with your own spread and position size before trading it live.

Which markets was it tested on?

It was tested on 6 market and timeframe combinations. The best run by trade count was Nasdaq 100, 4 hours, with 4,252 trades.

How large was the drawdown?

The best run had a maximum drawdown of 5,510 EUR at the tested position size, against a net result of 7,659 EUR.

Does it trade long, short or both?

It only takes long trades.

Related

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Past backtest results do not guarantee future results. This is not financial advice. Curated and maintained by ProRealAlgos. ProRealTime™ is a trademark of ProRealTime SAS. prorealalgos.comStatsDocs