THV system, final edition

Welcome Traders and Beginners.

I present and share a system which I compiled to MT4.

The original idea came from an experienced trader (since 1994) his name here in FF is Turhovach he has the age of 59 years (not too far away from me, lol).

I have absolutely no commercial interest on what is shown in this thread, we are here to help each other.

I found the THV setup very easy to observe and to work with and started to get everything together on the MT4 platform in october 2008. There is not too much left from the first chart of Turhovach, we added the THV Trix indicator which is the heart of the final product.

We had more than 180.000 downloads from this and my privat webpage till timestamp of today (28th of September 2009)

http://www.cobraforex.com/other/V3thread.jpg

Please read Post # 75 and the actual V3 manual before starting up

The main V4 rules:


Entry: Above Coral only long, below Coral only short
Price crosses cloud - both Trix cross each other and have the same color.
Best and most secure trend confirmation is a cross of the fast Trix on the zero level.

Exit:Faster Trix changes color and/or touch of a known good resistance/support level.


Other reasons to take profit can be: Touch of a trend line, resistance or support line, horizontal psych level (00 - 20 - 50 - -80) or a black cat that cross your screen


Stop Loss: please set your stop loss according to your money management plan, as higher your TF that you trade as lower you set the pip value and as higher the Stop Loss, also it depends on the currency pair that you are trading.

I use THV mainly for scalp trades but many traders use it in higher time frames.
We, the THV team proved it only on 1M and 5M. The 1M TF is only for extreme scalping and needs good FX skills !!!

These are the only rules; anything else depends on your basic knowledge on FX and your feelings.

My special thanks to SpecialED, TradeWell and Eddiemiller for trying the first beta setups, Doblece for helping me in MT4 V220 compiling issues and AK4X to keep me always in good mood and suggesting to open this thread.

And at the end to Turhovach for pesenting his charts and settings in FF and so making me suspicious what is behind of that and last but not least, my wife, giving me the time to get all this done.


Also thanks to MissPips for the developement of the MTF trading method, to Traderathome for his efforts on the contionious developement of the THV Pivot indicator, to Peter D for the birth of the THV Info indicator, Caveman for the developement of the THV Cavemanager, xux99 for his inconditional developement of the THV EA and finally to Stratman for his mini chart indicator.
There are many more to thank but the list will be too long.

Thank you all

http://www.cobraforex.com/new.gif
New, cleaner chart with more functions and sound support, THV V4, released:
Download the template and manual below

The actual THV team: Doblece, MissPips, Tradewell, Gofer Pips, Special Ed, Cashmeer, SeerEye, Karun, Caveman, Stratman and Cobra.

We don't offer source codes of the system as there have been many free systems been sold under another name in Ebay.
Who ask for them will be banned from posting in this thread !!!

Sample of a good daily trading plan: Decidence

Spanish Manual: THV MANUAL ESPANOL

My screens: Screens 1 Screens 2

Trade examples:
AUD trade 16 nov 08 17 nov 08 19 nov 08 20 nov08 21 nov 08

Stratman's THV Trading videos

Technical explanations:
Fibonacci pivot indicator Pivots and brokers

Repainting of MTF is no issue

Informative post from a long time THV trader:
Jack Herer

Please, if you downloaded THV and you have an objective opinion after trying THV for a while (good or bad) please leave a rate on the right upper corner of this page, this help other traders to see if reading the thread has value, Thanks


The THV team wish you a a great trading result for now and ever.

If you experience problems in the download and have an extension like .php change it to .zip or use Firefox for downloading!!!

Sorry Folks, I have to go for a good while, the reasons are explained in this post:
http://www.forexfactory.com/showpost...ostcount=19888

Trade well and as secure as you can.

Cobra

Q&A

May I violate the rules of the system when I trigger another buy or sale signal?

A: yes you may, that depends on your trading skills. For example trading a long after touching first time an important support would be a reason after confirmation, but it has nothing to do with the system.
Trading the THV you should wait for all parameters confirmed.

Sometimes I see a clear entry signal and take the trade, after a move of some pips my trade goes in red pips, what is the reason?

A: No system is perfect, that are those trades that we need to cover with a good MM.

What is the SL for the THV system?

A: that depends on the TF you are working, as higher the TF as higher your SL.

You may declare me crazy but I don’t use system based SL while trading my favorite TF, the 1M. I lost more money on Brokers SL hunting than in bad positions. I have 50 pips fixed and a mental SL that I execute manually.

Where I should set the SL?

A: Find the amount of pips you are agreeing too lose depending on your MM, it should be set always some pips above or below important S&R lines.

This system don’t show the shadows of the HA candles, how I can make to show them up?

A: It is recommended to have a separate chart with real candlesticks on 4 different TF’s open to take additional trading decisions, the shadows in the THV are not shown for better overview, if you insist, you can go to the HA properties and color the 1 and 2 settings.

I worked some weeks with the system and don’t need the rules shown on the chart anymore, how to delete?

A: Right click on your chart, select indicators and delete the L THV indicator, right click again on chart, go to Object list and delete all objects named THV there, ready.


May I add more indicators to the system?

A: yes you can if you feel more secure but the system is made to have a clear, fast and stress less view to take a fast and correct trading decision.
As more stuff you need to look at as slower your decision.

What is the trading direction to avoid counter trend trades?

A: The trading trend depends on the TF you are working with, in a 4H downtrend you find a lot of up and down trends in smaller TF’s. you should look to 15M and 1H if you trade the 5M to definite the trade direction.

How long should I train myself on THV before going live?

A: I would suggest for newbees to trade at least 2 month with positive results before trading any system live.
Experienced traders will need may be less than a week to get firm on it.

I hate to baby-sit the monitors waiting for a perfect entry, I want more action, may I go to hunt some pips on 1M?

A: The 1M THV chart is for extreme scalping only and needs excellent trading skills, I don’t recommend it for newbees, if you want the action you might want to do it on a Demo account until being 100% sure to be profitable on that TF.

What is the best time to trade the THV?

A: The THV is a trend system and works best on high volumes during London and NY overlapping session but lately you have strong moves on the Asian session as well.

What pairs are the best to trade the THV?

A: all fast moving currency pairs, each pair has a different character and I would suggest trading it primary on you favorite pair, mine are the E/U and AUD/USD.

What is the best pip value trading THV?

A: that depends on your account equity; we don’t want to risk more than max.1 to 2% each trade. Let’s say you have a 5k account and accept to lose 1% each bad trade you can lose 50$, divided by for example 50 pips SL on 15M TF you get a 1$ pip value.
In my website you find a MM calculator to find your best value.

What else I should be aware of trading THV?

A: All systems need good basic knowledge of FX, a system is like the hammer for a carpenter, if he doesn’t use it well he will always have bloody fingers. I recommend visiting the web page from acumen, he is a experienced trader and teaches Pivots, R&S and psych levels, a good page to get better trading skills.

Very important: never get motioned from other trader’s calls, only trade what you triggered by yourself, it is the only way to learn mastering your system and be successful.
During trading I never post or do anything else than concentrating my small brain on my chart.
Spend some bucks and time on trading education; it will be the best inversion for your FX business.

Is there an EA for the THV system?

A: I’m sure that it is only a matter of time till RonaldRaygun, Tdion and others will come up with an EA.
I don’t believe in EA’s, haven’t seen any that can replace the feeling of a human being, but who knows?

Why don’t you answer my post or PM?

A: Cobra is a busy man and can’t answer question that are already explained here in the thread, don’t be lazy, re-read the thread. All other question or suggestions will be answered as soon as I can.

Will be updated with the time

Here a brieve manual how to install

Step By Step :

1. Download/unzip/Copy/Save the MQ4/EX4 file into your C:\Program Files\(your broker)MetaTrader 4\experts\indicators folder
2. copy and paste the template file .tlp in C:\Program Files\(your broker)MetaTrader 4\templates folder.
3. Close your MetaTrader application (assuming it’s currently open … Ignore this if the application hasn’t been launched)
4. Launch your MetaTrader application
5. Open a new chart and right click on it, select the THV template, ready

We had some issues with the MT4 V220 platform version, because of that I uploaded the basic version template, please execute the missing files in the chart manual. All are named xxxxx THV

Well, it’s done now.
I suggest download, try and if somebody have an idea how to improve the system or have any question RELATED to it, feel free to post it.
Happy green pips, I will be stumbling in some times to see what you guys are thinking.

A great weekend to everybody

haloo cobra.. thanks for giving the system. look like a simple system. i never try it bcos today off. just want to ask you, this system only for tf1m n tf5m or what? can i use this system for 30m? thanks

I want to beg everybody to read well the first two posts; everything is explained and will be updated in those lines.

I’m very busy during the week (I’m scalping the 1M TF that needs all my concentration) and can’t answer questions that are answered in the thread.

Anyhow, you are my first poster, welcome, here the answer (but it is in the first post)

This is a Multi timeframe setup, you don't need to change anything jumping from one TF to the other.
Yes, You can use it in 30M, I would suggest to trigger the entry in smaller TF's and later keep it running on your favorite TF

Here an example on 30M

COBRA !!!!!

GREAT looking system and will start testing it IMMEDIATELY the new trading week.

Enjoy the weekend.

Cobra - Great job putting all this together. Now go take the rest of the weekend off at that beautiful place of yours in Ecuador!

Thanks Freddy, I'm sure you will like it and get back some of your pips from your accident yesterday.

BTW: This system may serve as well as a confirmation indicator for other systems.
It avoids catching the falling knife.

Thanks for coming in Turhovach, you are the reason that gave me the idea to make it and that is why its called THV.

I hope you come in sometimes to show your charts.

Have a nice weekend

many thanks to you and thv for your generousity and kindness.

There is no fun enjoying alone, sharing it makes the party

Cool! I know you've put a ton of work into all this, and hope it goes well, and that it helps some folks move forward with a reasonablly simple and practical system. I'll check it out in depth myself at first opportunity just for grins and so I'll have an idea what you guys are talking about.

We've PM'd each other often enough over the last few months that I had no problem being the first to vouch for you under the new system as I just acquired that standing myself. I would hope others with the ability to add their vouch would consider doing so as well.

A great trader that gives more than he takes here on this forum.

All your work here is simple proof of that.

Thank you AK, you gave me the idea to open the thread, I always enjoy your not only informative but funny posts, that keep us all in good mood even if some pips went sometimes.

Putting all this together also made me to fully understand it and now it's my main chart, trading it live.

I am taking ak4x advice and vouching for one of the best traders in EUR/USD thread.

cobraforex...
the king of scalp..


To all traders that are interested in a method that works...I highly suggest testing this simple one at least in a demo account and see the brilliance of this man who mastered the art of scalping better then anyone else i know. Good job cobra

Thanks PSI, I’m no king at all, I only do what I learned in thousands of screen hours, reading dozens of books, viewing a whole bunch of videos; than practice, practice and practice and finally I found what makes me an additional income.
The scalping as what fixes my trading stile, fast in => take profit and run.

BTW: congrats for your actual result on the contest, my respect and keep on the good work on the E/U thread, folks (me included) are learning a lot from you

A token of my gratitude...

For the ones that already loaded the guns (the chart) and can’t wait till Sunday to shot (practice) may want to download a trading simulator to have fun during the weekend, hope you don’t get trouble with your wife using free time.

Here is a link to get the simulator, everything explained there.
http://www.forexfactory.com/showthread.php?t=70742

TW, thats my favorite, you knew that, I'm having one now on all the green pips for you.

Cheers!