Forex Factory
  • Login

  • Username: Password:
  • 5:46pm

  • Search
  • Home

  • Forums

  • Trades

  • Calendar

  • News

  • Market

  • Brokers

Options

Search
Search
Search

Subscribe to Thread

Bookmark Thread

First Page First Unread Last Page Last Post

Printable Version

Similar Threads

THV 4 system with SAH; My Trading Journal 162 replies

Lohad - Final Cut - M1 System 213 replies

THV ind 8 replies

the vouchers - THV System 2 replies

  • Trading Systems
  • /
  • Reply to Thread
  • 7,100

THV system, final edition

  • Last Post
  • First Unread
  •  
  • 1 1718Page 192021 1219
  •  
  • Post# 361
  • Quote
  • Nov 21, 2008 2:12am
  • doblece
    Joined May 2006 | 2,541 Posts | Status: Still here.
Quoting traderathome
Cobra, I notice the current candle is blank thru the action period, and only prints when the next timeframe starts. If this is typical and unavoidable with the candle indicator, would it not be better to use standard candles?
Are you referring to the fact that the body of the Heiken Ashi candle doesn't "go in line" with the price? This is normal, as the indicator measures the relative strength of the move at each candle (usually the price level reached by the previous candle shows on the next one, indeed). It shows the price action and helps in seeing the trend because they are more regular (a series of up and down normal candles in a down trend will show as down Heiken Ashi with only variations in the wicks).

Quote
Hollow candles with no lower "shadows" indicate a strong uptrend: let your profits ride!
Hollow candles signify an uptrend: you might want to add to your long position, and exit short positions.
One candle with a small body surrounded by upper and lower shadows indicates a trend change: risk-loving traders might buy or sell here, while others will wait for confirmation before going short or long.
Filled candles indicate a downtrend: you might want to add to your short position, and exit long positions.
Filled candles with no higher shadows identify a strong downtrend: stay short until there's a change in trend.
Source: http://www.investopedia.com/articles.../04/092204.asp

Those HAs do have shadows (wicks), though. On the THV template they have been removed, but maybe reactivating them would be of help to you?

Go to the indicators properties, inputs tab, and set color1 same as color3, and color2 same as color 4. Then on the colors tab, check that they are showing correctly, if not, set 0 to the same color as 2 and 1 to the same color as 3. The wicks of the HAs will show. But neither they go in line with the actual price, for this you would have to set a color to the line graph in the chart's properties.
  • Post# 362
  • Quote
  • Nov 21, 2008 10:32am
  • Jack Herer
    Joined Oct 2008 | 481 Posts | Status: hit the road, Jack.
+61 pips today with THV
3 trades (1 long, 2 shorts) on M1

great day
  • Post# 363
  • Quote
  • Nov 21, 2008 10:37am
  • TradeWell
    Joined Oct 2008 | 2,660 Posts | Status: Let the market come to you
Quoting Jack Herer
+61 pips today with THV
3 trades (1 long, 2 shorts) on M1

great day
Good job! Today seems a little scary to trade , so you have done well. So you only use the 1 minute? I am still playing conservative using 1 min and 5 min plus all those pivots and fibs in there right now make it hard to find an entry.
  • Post# 364
  • Quote
  • Nov 21, 2008 11:12am | Edited at 11:31am
  • Jack Herer
    Joined Oct 2008 | 481 Posts | Status: hit the road, Jack.
Quoting TradeWell
Good job! Today seems a little scary to trade , so you have done well. So you only use the 1 minute? I am still playing conservative using 1 min and 5 min plus all those pivots and fibs in there right now make it hard to find an entry.
I missed london session and that nice 150 pip move up, but PA hit the upper wall of my channel on 4h and retraced so I was looking for shorts then.

besides 4h analysis, I look for PA patterns on higher TF, and I like to look at 5 and 15 minute charts with acumen's psych levels on it, and then wait for possible breakout setups. It's almost ridiculous how the market seems to respect these psych levels, now I wonder how didn't I notice this before hehe.

At the same time, I keep an eye on THV 5m and mostly 1m to pull the trigger at the best entry I can.

At the time I am writing this post there is a VERY NICE trade going on, more than 100 pips.

THV system is a killer =D
  • Post# 365
  • Quote
  • Nov 21, 2008 11:20am
  • Jack Herer
    Joined Oct 2008 | 481 Posts | Status: hit the road, Jack.
this is the trade I just mentioned above

  • Post# 366
  • Quote
  • Nov 21, 2008 12:23pm
  • cobraforex
    Joined Aug 2008 | 4,584 Posts | Status: Sharpen the Scalper Razor
Quoting Jack Herer
I missed london session and that nice 150 pip move up, but PA hit the upper wall of my channel on 4h and retraced so I was looking for shorts then.

besides 4h analysis, I look for PA patterns on higher TF, and I like to look at 5 and 15 minute charts with acumen's psych levels on it, and then wait for possible breakout setups. It's almost ridiculous how the market seems to respect these psych levels, now I wonder how didn't I notice this before hehe.

[b]At the same time, I keep an eye on THV 5m and mostly 1m to pull the trigger at the...
Congrats Jack
You really got it.
I don’t know your trading experience, because your profile doesn’t show that, but you do good work.
Now just go ahead and stick with what you find profitable, try not to change anything if you feel comfort with the trades.
There are not always winning days and perfect setups, but the counts you make at the end of the month/ year.
I have mentioned the website of acumen several times here, it is a perfect addition to any trading system and a must read for any newbee.
www.thefxpivotpoint.com
To all new traders: Give it a try, there is good stuff to learn.
  • Post# 367
  • Quote
  • Nov 21, 2008 12:30pm | Edited at 12:54pm
  • cobraforex
    Joined Aug 2008 | 4,584 Posts | Status: Sharpen the Scalper Razor
Well the trade that mentioned Jack was a perfect setup.

The PA was a time in consideration and sitting on R1, broke, a small retest and run.
The force was quite strong and we hit MS1. I reversed the position there instead of only taking profit because a fast move like that usually bounce back fast and I would consider it as similar to a gap, and those get mostly filled. I chickened the trade out near R1 with another 56 pips.

That isn’t the rule in the THV system but an experienced scalper does it.
.
Looking at the bigger picture (here a 4H chart) we see what happened, during the day the price touched the upper TL of a 4H triangle and bounced back, with the trade we show here it touched the lower TL and bounced back again.
Attached Images (click to enlarge)
Click to Enlarge

Name: t22.gif
Size: 27 KB Click to Enlarge

Name: t22 4.gif
Size: 25 KB
  • Post# 368
  • Quote
  • Nov 21, 2008 12:41pm
  • cobraforex
    Joined Aug 2008 | 4,584 Posts | Status: Sharpen the Scalper Razor
Well, coming back to the new template.

I have set it up like you can see in the last screenshot.
Please give me the weekend to get it fined a bit more.

Traderathome modified the Pivot point indicator and it has now the option to show mid Fibonacci pivot points that are very useful for the 1M scalpers.
With Doblece we want to see how this indicator works on Monday, taking Sunday in count or not and we will come up that day with the new template setup.

It has nothing to do with the actual functionality, it is more a cosmetic improvement beside of the pivot indicator.
  • Post# 369
  • Quote
  • Nov 21, 2008 1:05pm
  • steel777
    Joined Aug 2008 | 57 Posts | Status: Member
Cobra , Really like the clean , lean look of the chart you just posted . Will this be the new template ? I have read every post twice , just starting to demo your system . Looks very good to me - thank you for your work and efforts to teach . Will post charts when I have something useful to share . -----Steel
  • Post# 370
  • Quote
  • Nov 21, 2008 1:09pm
  • steel777
    Joined Aug 2008 | 57 Posts | Status: Member
Cobra Ignore my previous post , happy to wait until its ready . Obviously was typing same time as you . Steel
  • Post# 371
  • Quote
  • Nov 21, 2008 1:10pm
  • TradeWell
    Joined Oct 2008 | 2,660 Posts | Status: Let the market come to you
Quoting Jack Herer
I missed london session and that nice 150 pip move up, but PA hit the upper wall of my channel on 4h and retraced so I was looking for shorts then.

besides 4h analysis, I look for PA patterns on higher TF, and I like to look at 5 and 15 minute charts with acumen's psych levels on it, and then wait for possible breakout setups. It's almost ridiculous how the market seems to respect these psych levels, now I wonder how didn't I notice this before hehe.

At the same time, I keep an eye on THV 5m and mostly 1m to pull the trigger at the best entry...
I was part of that trade too. And I use the psych levels too. It's beautiful when it all comes together.
  • Post# 372
  • Quote
  • Nov 21, 2008 1:11pm
  • Jack Herer
    Joined Oct 2008 | 481 Posts | Status: hit the road, Jack.
Quoting cobraforex
Congrats Jack
You really got it.
I don’t know your trading experience, because your profile doesn’t show that, but you do good work.
Now just go ahead and stick with what you find profitable, try not to change anything if you feel comfort with the trades.
There are not always winning days and perfect setups, but the counts you make at the end of the month/ year.
[color=black]I have mentioned the website of acumen several times here,...
Thank you for the kind words cobra!

I'm still a newbie at trading forex, but I am working very hard to learn all I can from this boards, usually 12+ hours a day reading and looking at charts, there are great guys around here, full of knowledge, such as yourself.

Since I started to integrate THV, psych levels and a little of my own analysis, I feel like my trading skills just skyrocketed. I feel a LOT more comfortable now. Sure, I have my losses as everyone else here, but I feel like I am making real progress, you know?

Thanks again for helping us newbies
  • Post# 373
  • Quote
  • Nov 21, 2008 1:13pm
  • traderathome ● Online
    Joined Mar 2008 | 13,567 Posts | Status: Sonic R. System Supporter
Quoting doblece
Are you referring to the fact that the body of the Heiken Ashi candle doesn't "go in line" with the price? This is normal, as the indicator measures the relative strength of the move at each candle (usually the price level reached by the previous candle shows on the next one, indeed). It shows the price action and helps in seeing the trend because they are more regular (a series of up and down normal candles in a down trend will show as down Heiken Ashi with only variations in the wicks).


Source: http://www.investopedia.com/articles.../04/092204.asp...
Actually, there is a gap between the body of the current candle and the bid price line. When I first saw this, I thought there was no candle at all, because apparently at that time the body was only a line and I did not see it. I have since discovered the gap is caused by a delay in MT4. If I have been viewing other kinds of charts and then come to click on the THV chart, this gap will be there. But, if I stay on the chart for a bit of time, then the gap disappears because the painting of the body of the candle coincident with the moving bid price line finally kicks into gear and everything is fine. This is the first time I have ever experienced a delay in painting the candle (body, wick or otherwise), but then this is the first time I have ever used any Heiken Asi indicator.
Important is not where price is going, but if bulls or bears are moving it!
  • Post# 374
  • Quote
  • Nov 21, 2008 1:26pm
  • cobraforex
    Joined Aug 2008 | 4,584 Posts | Status: Sharpen the Scalper Razor
Quoting steel777
Cobra Ignore my previous post , happy to wait until its ready . Obviously was typing same time as you . Steel
Yeah, let us do things well, THV isn’t like a Japanese car that change the model every half a year, lol.

I’m trying to have things functionally but with some kind of harmony and elegance on the chart.

We are watching that screen more time during a day than our wife or kids, so it needs to be stress less and easy to observe.

My trading room is closed now and I wish anybody a great weekend.

I will lurk in some times to see if there are any additional questions to answer.
  • Post# 375
  • Quote
  • Nov 21, 2008 1:29pm
  • TradeWell
    Joined Oct 2008 | 2,660 Posts | Status: Let the market come to you
Quoting Jack Herer
I missed london session and that nice 150 pip move up, but PA hit the upper wall of my channel on 4h and retraced so I was looking for shorts then.

besides 4h analysis, I look for PA patterns on higher TF, and I like to look at 5 and 15 minute charts with acumen's psych levels on it, and then wait for possible breakout setups. It's almost ridiculous how the market seems to respect these psych levels, now I wonder how didn't I notice this before hehe.

At the same time, I keep an eye on THV 5m and mostly 1m to pull the trigger at the best entry...
One more comment for you Jack. I use MT4's ability to send an email based on certain conditions. I set a price, for instance, that is near S&R or fib, then it sends an email, to my cell phone, and wakes me up to check. I did that this morning, and was woken up twice (how rude!). But it was worth it to get in on some trading. I could have it just trigger an alarm on my computer, but my computer is too far from my bedroom to hear. I am on West coast U.S., so I am not typically awake for London session. This notification method is helping me get more trades.
  • Post# 376
  • Quote
  • Nov 21, 2008 1:31pm
  • traderathome ● Online
    Joined Mar 2008 | 13,567 Posts | Status: Sonic R. System Supporter
Quoting cobraforex
Yeah, let us do things well, THV isn’t like a Japanese car that change the model every half a year, lol.

I’m trying to have things functionally but with some kind of harmony and elegance on the chart.

We are watching that screen more time during a day than our wife or kids, so it needs to be stress less and easy to observe.

My trading room is closed now and I wish anybody a great weeend.

[color=black]I will lurk in some times to see if there are...
Cobra, I and others have already mentioned if the ichimoku cloud is "filled" it should be the first indicator you insert when constructing the template. But there is also another consideration.......ANY use of a "filled" cloud will obscure the active price line! So, if current part of candles is over the cloud, the active, moving price line will be obscured behind the cloud. This may, or may not be a problem, but I thought it should be mentioned. I know of no way to force the active price line to the top.....but that does not mean there is no way. If there is, I just do not know of it.
Important is not where price is going, but if bulls or bears are moving it!
  • Post# 377
  • Quote
  • Nov 21, 2008 1:41pm
  • TradeWell
    Joined Oct 2008 | 2,660 Posts | Status: Let the market come to you
Quoting cobraforex
...The force was quite strong and we hit MS1. I reversed the position there instead of only taking profit because a fast move like that usually bounce back fast and I would consider it as similar to a gap, and those get mostly filled. I chickened the trade out near R1 with another 56 pips.
Thank you for that part of your comment. I never read that anywhere and didn't figure it out on my own. It makes sense and I'll keep an eye on those situations (definitely not confident enough to trade it yet).
  • Post# 378
  • Quote
  • Nov 21, 2008 1:43pm
  • Turhovach
    Joined Mar 2007 | 581 Posts | Status: Member
Quoting cobraforex
Well, coming back to the new template.

I have set it up like you can see in the last screenshot.
Please give me the weekend to get it fined a bit more.

Traderathome modified the Pivot point indicator and it has now the option to show mid Fibonacci pivot points that are very useful for the 1M scalpers.
With Doblece we want to see how this indicator works on Monday, taking Sunday in count or not and we will come up that day with the new template setup....

Once again - great job. That looks so much better. A lot less busy, making it much easier to read. I'm glad I brought it to your attention. Having all those cross-thatched lines in the background was really starting to bug me. Have a great weekend Joe.

Regards,

Bo
  • Post# 379
  • Quote
  • Nov 21, 2008 1:44pm
  • TradeWell
    Joined Oct 2008 | 2,660 Posts | Status: Let the market come to you
Quoting Jack Herer
Thank you for the kind words cobra!

I'm still a newbie at trading forex, but I am working very hard to learn all I can from this boards, usually 12+ hours a day reading and looking at charts, there are great guys around here, full of knowledge, such as yourself.

Since I started to integrate THV, psych levels and a little of my own analysis, I feel like my trading skills just skyrocketed. I feel a LOT more comfortable now. Sure, I have my losses as everyone else here, but I feel like I am making real progress, you know?

Thanks again for helping...
Ditto to everything!
  • Post# 380
  • Quote
  • Nov 21, 2008 1:58pm
  • cobraforex
    Joined Aug 2008 | 4,584 Posts | Status: Sharpen the Scalper Razor
Quoting TradeWell
Thank you for that part of your comment. I never read that anywhere and didn't figure it out on my own. It makes sense and I'll keep an eye on those situations (definitely not confident enough to trade it yet).
Take a lot of care on those trades.

Suntrader says that you get stinky fingers trying to catch the bottom.

There need to be good reasons to do so; in this case PA cut the DP like butter and hit the weekly low and a hard support in a run of 100 pips in a matter of minutes and it was not news related. That was enough reason for me, but I could have burned some pips !

To Bo: Thanks again for coming up with that hint, the template looks more elegant now.
Thread Tools Search this Thread
Show Printable Version Show Printable Version
Email This Thread Email This Thread
Search this Thread:

Advanced Search

  • Trading Systems
  • /
  • THV system, final edition
  • Reply to Thread
    • 1 1718Page 192021 1219
4 traders viewing now
  • More

©2013 Forex Factory, Inc. / Terms of Use / Privacy Policy

Forex Factory® is a registered trademark.

Connect

  • Facebook
  • Twitter
  • RSS

Company

  • About FF
  • FF Blog
  • Careers at FF
  • Advertising
  • Contact FF

Products

  • Forums
  • Trades
  • Calendar
  • News
  • Market
  • Brokers
  • Trade Explorer

Website

  • Homepage
  • Search
  • User Guide
  • Member List
  • Online Now
  • Report a Bug