THV system, final edition

Ciro, this is how I understand your method, could you confirm this?

-Trade in direction of slow 5min trix
-Don't trade when 5min trix is OB/OS zone (above or below red/green dashed)
-Trigger in 1min, usual rules on trading in direction of coral & waiting for break of cloud.
-Trigger if fast trix is in the direction of the trade

Could you confirm your TP/SL strategy?

Cheers

Yes,,that's correcte...
I don't have TP/SL....Im taking what is on table..
this week my avrg. TP 7,8 max was 37 and min-57 (news...)

Jeeah man!

Nice for her... but after... New Harley for me!

Prijatan vikend prijatelju!

Well man,

It is very hard to choose. Im with this system since March and trading alive since end of April.

You must read it from start ... It looks hardly but it is the best way.

Patience!

For sure...
& there's more to come

Good job to all who made good trades

Hi Mihailo!!!

This is my first post here in FF, I have been testing this THV system in demo for about 3 months and just by now starting to get the "feeling". Wanna say thanks a lot to all the team who developed the system in such a "desinterested" way and specially to Cobra.

But my question to Mihailo is: How many pips did you let the very first trade shown in your account history run against you????, I mean how many pips did you risk to win what you won???

Thanks everybody!!!

I put together my own trading strategy using THV as my main indicators. Maybe it will be helpful for others as they develop their own systems.

Day Trading the THV System
Timeframe: M5
----------------------------

Section 1 - News Check
1. Open http://www.forexfactory.com/calendar.php
2. Note news for the day for the pairs you will be trading
3. Note the times news will be released which will affect your trading pairs and avoid these times


Section 2 - The Set Up
4. Move all Chart TF's to H1
5. Note Trend direction, Trend SR's, Overbought/Oversold status and RSI
6. Move all Chart TF's to M5
7. Refer to Rule #5
8. Start looking for trading opportunities that will not contradict with notes taken from Rule #5


Section 3 - Identifying a Long Trade
Type 1:
9. Price is above Coral line
10. Previous candle closed above Ichimoku cloud
11. Fast Trix crossed up over slow Trix and both lines are green
12. No upcoming major resistance for at least 25pips
13. Not trading into bearish divergence
14. Not overbought or above 79 on RSI

Type 2:
15. Bullish Divergence identified
16. Refer to Rules #9, #12 and #14

Type 3:
17. Resisting Trend Line broken
18. Refer to Rules #12 and #14


Section 4 - Identifying a Short Trade
Type 1:
19. Price is below Coral line
20. Previous candle closed below Ichimoku cloud
21. Fast Trix crossed down below slow Trix and both lines are red
22. No upcoming major support for at least 25pips
23. Not trading into bullish divergence
24. Not oversold or below 21 on RSI

Type 2:
25. Bearish Divergence identified
26. Refer to Rules #19, #22 and #24

Type 3:
27. Supporting Trend Line broken
28. Refer to Rules #22 and #24


Section 5 - Entering the Trade
29. Before entering repeat Rules #4 and #5 to make sure your position will not break Rule #8
30. Stop loss never more then 15-20pips if 3x ATR(20) is higher this trade may not be worth the risk
31. Risk a maximum 2.5% of your equity per trade ($15,000 equity with 20pip SL is 1.8 lots)


Section 6 - Managing the Trade
32. Use your discretion when to get out! You may want to use Trailing Stop if you don't see any major resistance coming for 50pips or so and in others you may want to only pull out 15-20pips profit.

Where can I get V4 indicators please because I've not found it on the updated post#1 ?

Thanks.

You made you homework, congrats.

You have to install V4 with the zipped exe file.

Good method "decidence", Ill try and incorperate some of it.

Ok Im just using the simulator and practicing and one question that I cant seem to find on the thread is this.....................

I have taken a trade short, it hit my take profit of 28 pips and has then retraced above the cloud and has reversed again and looks like price will close below the cloud again.

Now bearing in mind that PA has not at anytime at this point gone back above the coral, only the cloud. So if it does drop below the cloud again and the trix crosses red and goes below the zero line, do you take the trade....

Or must we only trade, long..short...long...short etc etc in an alternate fashion?

Many thanks

Currently only show on time frames M15 and less.

I'm experimenting on higher time frames, thats why my posts (of my screen) may show them more than yours.

I suggest you read every page. It will be worth it. See it as an investment in your education ... it took me over a week (full days) to get through it.

Cobra,

Where is Beach Bum? Always enjoyed his posts as well as his ideas. Miss him. If he ever PM's you, tell him I said 'hello'.

Thanks adunk, I also miss him but he's very busy with his MAX trading courses.

Well, looking at the last posts I can see that some catched it up how to trade V4, hope that will continue.

For me was a bad week, I could only archive 1.8% of my equity.

That has some reasons, one is that I'm overloaded with work aside of FX and the other is that I was concentrated in longer term trades which formed a bias and that isn't good at all for scalping, I have to correct that in the next week.

Wish you all a great weekend folks.

I'm wondering if anyone with a bit of experience in THV (or any other trading method) could shed a bit of light on the following:

I understand that we look for convergence between various things to give us solid S&R price points from which we can trade breakouts. That may be a combination of the pivots/S&R lines drawn by the pivot indictors, previous highs and lows, diagonal trendlines and so on. Divergence between the Trix indicator and price on various timeframes (with a bias for higher TFs) seems to be a favourite of many traders in this thread.

Where I am unsure is what point is best for entry.

Let's say the price is currently between S1 & S2 and has been flat for the last 20 minutes after dropping down from the DP to S2. If the price then rises to S1, breaks it, goes about halfway to the DP and returns to S1 is there a trade setup in the making? If it breaks the previous high made above S1 in the last couple of minutes is that a long setup? (assuming there is a Trix cross, and perhaps a break of a diagonal trendline... maybe even some divergence)

Or should the entry be made before that?

Price don't like to be glued on an S&R for long time, good idea to look for a breakout and in the best case for a retest to enter.

This entry depends on other circumstances like trading session etc.

Second entry after TP on S1 (maybe higher but depends on strengh of move) would be the retest of S1 as you have an inverted H&S formation, those are very strong on higher TFs.

Thanks for that Cobra.

Just for a little extra clarification - for the first entry, would we enter just after a bounce, or after it had broken the previous swing high?

For the second entry, if the price hesitates at the previous swing high then moves a little lower, do we exit?

Finally, you say this is very strong on higher TFs. Would you use a different strategy if you were attempting to scalp the 1m?

Cheers!

Edit: Oh and if there was no retest of the previous swing highs in the first entry condition (as you have drawn on) would you avoid the trade? (i.e. is the retest a required confirmation with your trading style?)

Cobra and Team,
Great work on your new version.
I have installed the latest indies and the divergence lines are showing up even when I have them set to false. Am I doing something wrong?


Second issue I am seeing is that one of the indicators is over writing THV3 over your new THV4 screen. See attachment. Can you please remove this for cosmetic purposes?

Thanks for your assistance..
James