Strategy library · Trend and breakouts
Heikin Ashi color flip backtest on NQ and ES futures
Heikin Ashi color flip
Also called: Heikin Ashi strategy, Heikin Ashi candle strategy, Heikin Ashi trend flip, buy when the first green Heikin Ashi candle follows a red one, short when the first red Heikin Ashi candle follows a green one
What happens if you buy NQ every time the first green Heikin Ashi candle follows a red one?
What it is
Heikin Ashi candles are smoothed candles built from averaged open, high, low and close values. This strategy goes long after the first green Heikin Ashi candle following a red one, short on the mirror, and exits on the opposite flip.
What it did
On NQ futures from 2024-10-08 to 2026-10-07, the Heikin Ashi color flip strategy took 3,063 trades on the 15-minute chart, won 37.5% of them and finished -2,928.50 points (-$58,570 on one NQ contract), before commission and slippage. From 2024-10-08 to 2026-10-07 on NQ, the 1,523 long trades on the 15-minute chart won 39.9% and made -138.75 points (-$2,775 on one NQ contract), before commission and slippage. On ES futures from 2024-08-28 to 2026-08-27, the Heikin Ashi color flip strategy took 3,026 trades on the 15-minute chart, won 37.1% of them and finished 65.50 points ($3,275 on one ES contract), before commission and slippage. The 5-minute, 1-hour and daily results for both markets are in the table on this page.
How it was tested
CE Market Solutions tested the Heikin Ashi color flip strategy on NQ (2024-10-08 to 2026-10-07) and ES (2024-08-28 to 2026-08-27) futures, before commission and slippage, with each signal filled at the next bar's open, intraday positions flat at 15:59 ET and textbook default indicator settings; the NQ trades are listed on this page and the ES trades under the ES tab.
See it tested with one change · $19
Tested by CE Market Solutions on 2026-10-26. The trades are listed below, one market at a time. Gross, no commission or slippage. Last 2 years.
Results
Rule as tested: Long after the first green Heikin Ashi candle following a red one; short on the mirror. Exit: Opposite flip.
| Timeframe | NQ · 2024-10-08 to 2026-10-07 | ES · 2024-08-28 to 2026-08-27 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Trades | Win % | Avg pts | Profit factor | Net pts | Net $ (1 NQ) | Max DD pts | Trades | Win % | Avg pts | Profit factor | Net pts | Net $ (1 ES) | Max DD pts | |
| 5 minute | 9232 | 35.7% | −0.08 | 0.995 | −763.75 | −$15,275 | 6,092.00 | 9012 | 35.3% | 0.05 | 1.018 | 495.50 | $24,775 | 756.25 |
| 5 minute · longs only | 4616 | 37.5% | — | — | 594.75 | $11,895 | 2,505.25 | 4496 | 36.9% | — | — | 544.00 | $27,200 | 488.50 |
| 5 minute · shorts only | 4616 | 33.8% | — | — | −1,358.50 | −$27,170 | 4,351.25 | 4516 | 33.7% | — | — | −48.50 | −$2,425 | 693.00 |
| 15 minute | 3063 | 37.5% | −0.96 | 0.962 | −2,928.50 | −$58,570 | 4,594.75 | 3026 | 37.1% | 0.02 | 1.004 | 65.50 | $3,275 | 935.00 |
| 15 minute · longs only | 1523 | 39.9% | — | — | −138.75 | −$2,775 | 2,431.00 | 1502 | 38.6% | — | — | −1.25 | −$62 | 473.50 |
| 15 minute · shorts only | 1540 | 35.1% | — | — | −2,789.75 | −$55,795 | 4,168.50 | 1524 | 35.7% | — | — | 66.75 | $3,338 | 688.00 |
| 1 hour | 677 | 44.9% | 1.04 | 1.024 | 703.00 | $14,060 | 3,006.00 | 742 | 41.1% | −0.53 | 0.944 | −390.25 | −$19,512 | 784.75 |
| 1 hour · longs only | 342 | 46.5% | — | — | 213.00 | $4,260 | 2,515.25 | 369 | 43.4% | — | — | −231.50 | −$11,575 | 422.75 |
| 1 hour · shorts only | 335 | 43.3% | — | — | 490.00 | $9,800 | 1,749.75 | 373 | 38.9% | — | — | −158.75 | −$7,937 | 743.50 |
| Daily | 120 | 33.3% | −48.25 | 0.776 | −5,789.50 | −$115,790 | 9,861.50 | 118 | 40.7% | 2.30 | 1.068 | 271.50 | $13,575 | 1,080.50 |
| Daily · longs only | 60 | 41.7% | — | — | 1,618.75 | $32,375 | 4,505.75 | 59 | 49.2% | — | — | 974.00 | $48,700 | 680.75 |
| Daily · shorts only | 60 | 25.0% | — | — | −7,408.25 | −$148,165 | 8,961.75 | 59 | 32.2% | — | — | −702.50 | −$35,125 | 1,224.50 |
Free to use with credit to CE Market Solutions (CC BY 4.0).
NQ 15 minute: the equity line
Long and short
| Side | Trades | Net pts |
|---|---|---|
| Long | 1523 | −138.75 |
| Short | 1540 | −2,789.75 |
By month
| Month | Trades | Net pts |
|---|---|---|
| 2024-10 | 114 | −125.75 |
| 2024-11 | 102 | −262.25 |
| 2024-12 | 112 | 664.50 |
| 2025-01 | 121 | −400.25 |
| 2025-02 | 119 | 453.00 |
| 2025-03 | 139 | 280.75 |
| 2025-04 | 121 | −72.25 |
| 2025-05 | 135 | −576.50 |
| 2025-06 | 128 | −10.75 |
| 2025-07 | 156 | −723.25 |
| 2025-08 | 132 | −371.50 |
| 2025-09 | 131 | 350.25 |
| 2025-10 | 130 | 1,001.75 |
| 2025-11 | 103 | 843.50 |
| 2025-12 | 152 | −2,190.50 |
| 2026-01 | 118 | 357.00 |
| 2026-02 | 119 | −898.00 |
| 2026-03 | 141 | −17.00 |
| 2026-04 | 119 | −211.00 |
| 2026-05 | 120 | 227.75 |
| 2026-06 | 119 | −200.75 |
| 2026-07 | 127 | 480.00 |
| 2026-08 | 132 | −1,110.50 |
| 2026-09 | 143 | −415.00 |
| 2026-10 | 30 | −1.75 |
Every trade, NQ 15 minute3063 trades
Pick any of the 3063 charted trades with Previous, Next or a date, or click a row in the trades table below, to see it drawn on the real 1-minute bars. Drag the chart sideways to move through the sessions around it.
Chart unavailable. The trades are in the table below.
All trades (3063), newest first
Times are New York time; points are gross. Click a row to draw that trade in the chart above.
| Session date | Side | Entry (ET) | Entry price | Exit (ET) | Exit price | Exit reason | Points |
|---|---|---|---|---|---|---|---|
| 2026-10-07 | long | 15:45 | 31391.50 | 15:59 | 31396.00 | end of day 15:59 | 4.50 |
| 2026-10-07 | short | 15:15 | 31356.00 | 15:45 | 31391.50 | opposite flip | −35.50 |
| 2026-10-07 | long | 13:00 | 31329.25 | 15:15 | 31356.00 | opposite flip | 26.75 |
| 2026-10-07 | short | 12:45 | 31336.50 | 13:00 | 31329.25 | opposite flip | 7.25 |
| 2026-10-07 | long | 11:15 | 31286.50 | 12:45 | 31336.50 | opposite flip | 50.00 |
| 2026-10-07 | short | 11:00 | 31254.00 | 11:15 | 31286.50 | opposite flip | −32.50 |
| 2026-10-07 | long | 10:15 | 31219.00 | 11:00 | 31254.00 | opposite flip | 35.00 |
| 2026-10-06 | short | 14:45 | 31516.50 | 15:59 | 31480.75 | end of day 15:59 | 35.75 |
| 2026-10-06 | long | 13:45 | 31530.50 | 14:45 | 31516.50 | opposite flip | −14.00 |
| 2026-10-06 | short | 11:45 | 31584.50 | 13:45 | 31530.50 | opposite flip | 54.00 |
| 2026-10-06 | long | 11:00 | 31583.50 | 11:45 | 31584.50 | opposite flip | 1.00 |
| 2026-10-06 | short | 10:30 | 31501.00 | 11:00 | 31583.50 | opposite flip | −82.50 |
| 2026-10-05 | long | 14:30 | 31313.25 | 15:59 | 31338.25 | end of day 15:59 | 25.00 |
| 2026-10-05 | short | 14:15 | 31290.00 | 14:30 | 31313.25 | opposite flip | −23.25 |
| 2026-10-05 | long | 12:45 | 31268.50 | 14:15 | 31290.00 | opposite flip | 21.50 |
| 2026-10-05 | short | 12:15 | 31215.75 | 12:45 | 31268.50 | opposite flip | −52.75 |
| 2026-10-02 | long | 15:00 | 31043.75 | 15:59 | 31070.00 | end of day 15:59 | 26.25 |
| 2026-10-02 | short | 14:30 | 31036.00 | 15:00 | 31043.75 | opposite flip | −7.75 |
| 2026-10-02 | long | 14:00 | 31048.00 | 14:30 | 31036.00 | opposite flip | −12.00 |
| 2026-10-02 | short | 12:30 | 31071.00 | 14:00 | 31048.00 | opposite flip | 23.00 |
| 2026-10-02 | long | 12:15 | 31116.00 | 12:30 | 31071.00 | opposite flip | −45.00 |
| 2026-10-02 | short | 11:00 | 31166.00 | 12:15 | 31116.00 | opposite flip | 50.00 |
| 2026-10-02 | long | 10:00 | 31185.25 | 11:00 | 31166.00 | opposite flip | −19.25 |
| 2026-10-02 | short | 09:45 | 31177.25 | 10:00 | 31185.25 | opposite flip | −8.00 |
| 2026-10-01 | short | 15:30 | 30804.25 | 15:59 | 30772.75 | end of day 15:59 | 31.50 |
| 2026-10-01 | long | 14:45 | 30807.00 | 15:30 | 30804.25 | opposite flip | −2.75 |
| 2026-10-01 | short | 14:15 | 30741.50 | 14:45 | 30807.00 | opposite flip | −65.50 |
| 2026-10-01 | long | 13:15 | 30662.75 | 14:15 | 30741.50 | opposite flip | 78.75 |
| 2026-10-01 | short | 13:00 | 30595.25 | 13:15 | 30662.75 | opposite flip | −67.50 |
| 2026-10-01 | long | 12:15 | 30599.00 | 13:00 | 30595.25 | opposite flip | −3.75 |
| 2026-09-30 | short | 15:45 | 30827.25 | 15:59 | 30693.75 | end of day 15:59 | 133.50 |
| 2026-09-30 | long | 15:15 | 30849.00 | 15:45 | 30827.25 | opposite flip | −21.75 |
| 2026-09-30 | short | 14:30 | 30832.00 | 15:15 | 30849.00 | opposite flip | −17.00 |
| 2026-09-30 | long | 14:00 | 30856.50 | 14:30 | 30832.00 | opposite flip | −24.50 |
| 2026-09-30 | short | 12:45 | 30861.25 | 14:00 | 30856.50 | opposite flip | 4.75 |
| 2026-09-30 | long | 11:00 | 30843.75 | 12:45 | 30861.25 | opposite flip | 17.50 |
| 2026-09-30 | short | 10:45 | 30797.50 | 11:00 | 30843.75 | opposite flip | −46.25 |
| 2026-09-29 | short | 15:30 | 30625.50 | 15:59 | 30617.50 | end of day 15:59 | 8.00 |
| 2026-09-29 | long | 14:15 | 30588.50 | 15:30 | 30625.50 | opposite flip | 37.00 |
| 2026-09-29 | short | 14:00 | 30522.75 | 14:15 | 30588.50 | opposite flip | −65.75 |
| 2026-09-29 | long | 13:30 | 30567.75 | 14:00 | 30522.75 | opposite flip | −45.00 |
| 2026-09-29 | short | 11:15 | 30637.75 | 13:30 | 30567.75 | opposite flip | 70.00 |
| 2026-09-29 | long | 10:30 | 30670.25 | 11:15 | 30637.75 | opposite flip | −32.50 |
| 2026-09-29 | short | 09:45 | 30567.00 | 10:30 | 30670.25 | opposite flip | −103.25 |
| 2026-09-28 | short | 15:15 | 30576.50 | 15:59 | 30567.50 | end of day 15:59 | 9.00 |
| 2026-09-28 | long | 15:00 | 30639.25 | 15:15 | 30576.50 | opposite flip | −62.75 |
| 2026-09-28 | short | 14:45 | 30625.50 | 15:00 | 30639.25 | opposite flip | −13.75 |
| 2026-09-28 | long | 14:15 | 30639.75 | 14:45 | 30625.50 | opposite flip | −14.25 |
| 2026-09-28 | short | 13:45 | 30624.75 | 14:15 | 30639.75 | opposite flip | −15.00 |
| 2026-09-28 | long | 11:30 | 30494.25 | 13:45 | 30624.75 | opposite flip | 130.50 |
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Questions and answers
What happens if you buy NQ every time the first green Heikin Ashi candle follows a red one?
From 2024-10-08 to 2026-10-07 on the NQ 15-minute chart, the Heikin Ashi color flip strategy took 1,523 long trades, won 39.9% of them and made -138.75 points (-$2,775 on one NQ contract), before commission and slippage. From 2024-10-08 to 2026-10-07 on NQ, its long trades also made 594.75 points on 4,616 trades on the 5-minute chart, 213.00 points on 342 trades on the 1-hour chart and 1,618.75 points on 60 trades on the daily chart, before commission and slippage.
What happens if you short ES every time the first red Heikin Ashi candle follows a green one?
From 2024-08-28 to 2026-08-27 on the ES 15-minute chart, the Heikin Ashi color flip strategy took 1,524 short trades, won 35.7% of them and made 66.75 points ($3,338 on one ES contract), before commission and slippage. From 2024-08-28 to 2026-08-27 on ES, its short trades also made -48.50 points on 4,516 trades on the 5-minute chart, -158.75 points on 373 trades on the 1-hour chart and -702.50 points on 59 trades on the daily chart, before commission and slippage.
Does the Heikin Ashi color flip strategy work on Nasdaq futures?
On NQ futures from 2024-10-08 to 2026-10-07, the Heikin Ashi color flip strategy on the 15-minute chart took 3,063 trades, won 37.5% of them and finished -2,928.50 points (-$58,570 on one NQ contract), before commission and slippage.
What is the win rate of Heikin Ashi color flip on ES futures?
The Heikin Ashi color flip strategy won 37.1% of its 3,026 trades on the ES 15-minute chart from 2024-08-28 to 2026-08-27, before commission and slippage. On ES from 2024-08-28 to 2026-08-27 it also won 35.3% of 9,012 trades on the 5-minute chart, 41.1% of 742 trades on the 1-hour chart and 40.7% of 118 trades on the daily chart, before commission and slippage.
Is the Heikin Ashi color flip strategy better on the 5-minute, 15-minute, 1-hour or daily chart for NQ?
On NQ from 2024-10-08 to 2026-10-07, the Heikin Ashi color flip strategy made -763.75 points on 9,232 trades on the 5-minute chart, -2,928.50 points on 3,063 trades on the 15-minute chart, 703.00 points on 677 trades on the 1-hour chart and -5,789.50 points on 120 trades on the daily chart, before commission and slippage.
Is it better to only buy or only sell Heikin Ashi color flip signals on NQ?
On the NQ 15-minute chart from 2024-10-08 to 2026-10-07, the long trades made -138.75 points on 1,523 trades (39.9% won) and the short trades made -2,789.75 points on 1,540 trades (35.1% won), before commission and slippage.
How many trades does the Heikin Ashi color flip strategy take on NQ in two years?
The Heikin Ashi color flip strategy took 3,063 trades on the NQ 15-minute chart from 2024-10-08 to 2026-10-07, before commission and slippage. On NQ from 2024-10-08 to 2026-10-07 it also took 9,232 on the 5-minute chart, 677 on the 1-hour chart and 120 on the daily chart, before commission and slippage.
What is the max drawdown of the Heikin Ashi color flip strategy on NQ?
The Heikin Ashi color flip strategy had a max drawdown of 4,594.75 points ($91,895 on one NQ contract) on the NQ 15-minute chart from 2024-10-08 to 2026-10-07, before commission and slippage. On NQ from 2024-10-08 to 2026-10-07 its max drawdown was also 6,092.00 points on the 5-minute chart, 3,006.00 points on the 1-hour chart and 9,861.50 points on the daily chart, before commission and slippage.
How does the Heikin Ashi color flip strategy do on ES compared with NQ?
On the ES 15-minute chart from 2024-08-28 to 2026-08-27, the Heikin Ashi color flip strategy took 3,026 trades, won 37.1% of them and made 65.50 points ($3,275 on one ES contract), before commission and slippage. On the NQ 15-minute chart from 2024-10-08 to 2026-10-07, the Heikin Ashi color flip strategy took 3,063 trades, won 37.5% of them and made -2,928.50 points (-$58,570 on one NQ contract), before commission and slippage.
How these were run
- Gross: no commission and no slippage.
- The last 2 years of each market, from the first to the last session of its window.
- A signal on a closed bar fills at the next bar’s open.
- A stop and a target touched in the same minute count as the stop.
- Intraday positions are flat at 15:59 ET.
- Textbook TradingView default settings for every indicator; nothing is tuned.
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