THV system, final edition | Page 15 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

THV System Trades & Patterns Thread 857 replies

THV 4 system with SAH; My Trading Journal 163 replies

Bow's trading journal (THV, Hmaoui simple system) 4 replies

My Journal - Based on THV V3.0 by Cobraforex 30 replies

the vouchers - THV System 2 replies

Attachments: THV system, final edition
Exit Attachments

THV system, final edition

  • #281
  • Nov 19, 2008 4:54am Nov 19, 2008 4:54am
Quoting cobraforex
It's nearly impossible to trade small TF's like 1 or 5M today, you see how choppy it is and any trade could hit SL.

I switched to 15M to get the wipsaw off but it is still dangerous.

The screenshot is 1M TF

Not to trade in certain market conditions is also trading, it hurts to give back hard earned pips.
Good morning CobraForex and others,

You're probably in bed now. I too have moved to the 15M on my chart. Just far too much risk at lower levels. Squeezed +100 PIPs yesterday, but it was WORK. Sitting 18 in the hole today because I killed off a 2585 short. It's consolidating for something. I fear long, Algirdas is thinking long. Figure I can get that 18 back any time - if the market starts moving.

Hard to make a living on the market's (lack of) movement this past couple of days. Good trading to all.
Up or down, gimme a ticket
  • #282
  • Edited 6:02am Nov 19, 2008 5:22am | Edited 6:02am
Sorry, I've edited my previous post because I was reading the wrong part of the comments on the SZX-TZ Pivots indicator code. Evidently the code was thoroughly changed in this version

However I would like to point out the following:

Quote
HoursMT4TimeZoneFromGMT:
Enter the number of hours difference between the MT4 server time zone, and GMT.
For example, FXDD uses a server that is two hours before GMT, hence enter "2".
If the server is in NY, 5 hours after GMT, you would enter "-5". Use the default
value "0" for normal, non-time shifted pivot calculations.

HoursSelectedTimeZonefromGMT:
Enter the number of hours difference between your selected time zone to start
the day (as regards the indicator's calculations), and GMT. For example, if
you wish to have the day start at NY time, then enter "-5". If you wish to
have the day start at Zurich time, then enter "1". Use the default value of
"0" for normal, non-time shifted pivot calculations.

At the present moment, under DST time, EST or NY time would have to be -4 and back to -5 when DST is off.

This allows for experimentation to see which session (even if "officially" the close-of-the day in Forex is USA close at 17:00 EST) be it USA, London, Europe or Asia is really leading the market as to accuracy and behaviour of prices in respect to the different pivots and support/resistances...

The pivots are definitely Fibonacci Pivots, as the formulas in the code confirm.
  • #283
  • Nov 19, 2008 6:12am Nov 19, 2008 6:12am
Quoting cobraforex
It's nearly impossible to trade small TF's like 1 or 5M today, you see how choppy it is and any trade could hit SL.

I switched to 15M to get the wipsaw off but it is still dangerous.

The screenshot is 1M TF

Not to trade in certain market conditions is also trading, it hurts to give back hard earned pips.
Speaking of higher timeframes, have a look at H1: the market is awfully FLAT. "Weaving" the pivot.
  • #284
  • Nov 19, 2008 7:13am Nov 19, 2008 7:13am
Good morning ladies and gentlemen
Before I went to rest I was drawing some trend lines on the THV template (yes you can do it but more accurate is a clean candlestick chart) and coming back I see we are still in this triangle, glued to the DP, so I didn’t miss much.
Don’t forget important news in 20M for USD, that could push this turtle a bit.
Attached Image (click to enlarge)
Click to Enlarge Name: 19.gif Size: 27 KB
  • #285
  • Nov 19, 2008 7:23am Nov 19, 2008 7:23am
Quoting doblece
At the present moment, under DST time, EST or NY time would have to be -4 and back to -5 when DST is off.
Daylight Savings Time is off now Doblece. Use -5.
Up or down, gimme a ticket
  • #286
  • Nov 19, 2008 7:32am Nov 19, 2008 7:32am
Verry interesting thread! Will try to make some time in the weekend to read it carefully!
{Promotion Removed}
  • #287
  • Nov 19, 2008 7:47am Nov 19, 2008 7:47am
Quoting SpecialEd
Daylight Savings Time is off now Doblece. Use -5.
Thanks!
  • #288
  • Nov 19, 2008 8:26am Nov 19, 2008 8:26am
On that big up move I entered based on an entry order a little higher than the day's high and timed it with a 1 minute THV buy signal. I got out of most of the position due to the previous PA. So in this case, THV was not exclusively used but helped with my timing.
  • #289
  • Edited 9:02am Nov 19, 2008 8:47am | Edited 9:02am
That was a nice ride in only few minutes, I got in late waiting for breaking my TL and got out late due to a frozen broker platform, yeah, that happens.

Anyhow a nice and almost secure 79 pips trade that made me my day.

If I would have been on 5M TF I still would be in the trade but after yesterday and today’s PA I was not convinced and said "better the bird in the hand than the eagle on the roof".

Done for the day because my daily target is 40 pips.
If I see a new very good setup I might take it. Hope you guys and gals have been in that trade
Attached Image(s) (click to enlarge)
Click to Enlarge Name: 20.gif Size: 22 KB
Click to Enlarge Name: t6.jpg Size: 13 KB
  • #290
  • Nov 19, 2008 10:14am Nov 19, 2008 10:14am
Pardon the intrusion here guys... here's a non TVH chart, but it does show the "Perfect Storm" of Fibs, Pivots, and MA's...

There's probably no single BEST way to utilize those tools, but any system (like this TVH one) that does incorporate them in a functional and practical way can't go too far wrong. This thread is fun to watch as it matures and shakes out the always present "gimme" crowd... I'm looking forward to loading this thing up on a separate installation and play with it some. Over the holiday season maybe.

Anyway this chart shows why I'm short GY and some "reload" mirror trades on EJ/EU as well. I'll clear off the straggler shorts that are getting stale, some got stopped out at +pips on this runup, and hopefully coast the rest of this crazy week...

Heavy short at 47.50 GY w/ .15 taken off at 100 pips and +3 locked. other 2 pairs are proportionally similar.

(unless of course I've really read this all wrong. )
Attached Image
FUBAR...
  • #291
  • Nov 19, 2008 10:31am Nov 19, 2008 10:31am
There was a good short setup at 16:21 GMT. Just got out. Now we have some action!
  • #292
  • Nov 19, 2008 10:33am Nov 19, 2008 10:33am
Quoting ak4x
Pardon the intrusion here guys... here's a non TVH chart, but it does show the "Perfect Storm" of Fibs, Pivots, and MA's...
Thanks AK for your insight, I won’t classify it as off topic, like I said in the first post, trading THV or any other system requires good FX knowledge and any hint or trick is always welcome.
On your chart we see a good example how Fibs, Pivots and 200 SMA are working together forming a strong resistance point.
  • #293
  • Edited 10:51am Nov 19, 2008 10:40am | Edited 10:51am
Quoting TradeWell
There was a good short setup at 16:21 GMT. Just got out. Now we have some action!
Right, this was a good setup on 5M, it is still in game but I personally don't give that bear to much force any more, but who knows?

An additional word, this was a reliable setup because the strong north move was related to bad USD news and those heavy news movements most likely come down soon to where they started, but not always, take care!
Attached Image (click to enlarge)
Click to Enlarge Name: 21.gif Size: 26 KB
  • #294
  • Nov 19, 2008 10:55am Nov 19, 2008 10:55am
Quoting cobraforex
Right, this was a good setup on 5M, it is still in game
cobra, according to that chart and your understanding of it,, can you give me an idea where (in price terms) the chart would show your entry point at,

In other words, where's the trigger point, or is it more accurately a trigger zone that you look for optimal entry? Curious.
FUBAR...
  • #295
  • Nov 19, 2008 11:04am Nov 19, 2008 11:04am
Quoting ak4x
cobra, according to that chart and your understanding of it,, can you give me an idea where (in price terms) the chart would show your entry point at,

In other words, where's the trigger point, or is it more accurately a trigger zone that you look for optimal entry? Curious.
Hey man, cobra doesn't have time for that - read the directions!
  • #296
  • Nov 19, 2008 11:18am Nov 19, 2008 11:18am
Quoting TradeWell
Hey man, cobra doesn't have time for that - read the directions!
well i did, and came up with nearly a 30 pip range on that first colored candle that closed below the line. so was wondering if there's a more exact entry signal when watching in real time, (why I asked about price..)

but you're right, my bad. i'll wait unti i can load it up and play with it some.
FUBAR...
  • #297
  • Edited 11:54am Nov 19, 2008 11:28am | Edited 11:54am
Quoting ak4x
cobra, according to that chart and your understanding of it,, can you give me an idea where (in price terms) the chart would show your entry point at,

In other words, where's the trigger point, or is it more accurately a trigger zone that you look for optimal entry? Curious.
Good question AK
THV doesn’t use an exactly price entry, it is more to understand as a trigger zone, that is defined in the entry rules in post one. If this zone includes Pivot lines or psych levels etc., it is necessary to wait for the entry until those levels get broken and retested. If there is no resistence in the area just go ahead with the rules.

Just saw your last post, if you see strong candles before they pass the T3 line you might not want to wait to get the confirmation candle to be closed, it depends a lot on how secure you are on that trade and what are the circumstances that caused that trend.

Only that would be a perfect entry.
  • #298
  • Nov 19, 2008 11:36am Nov 19, 2008 11:36am
Quoting ak4x
well i did, and came up with nearly a 30 pip range on that first colored candle that closed below the line. so was wondering if there's a more exact entry signal when watching in real time, (why I asked about price..)

but you're right, my bad. i'll wait unti i can load it up and play with it some.
Just kidding ...but I can tell you how I saw it. Watched the 5 min and it was clearly in short signal at the close of the 16:15 candle. However, I waited for the 1 min to also show the signal. At about 16:22 was typical entry on 1 min, according to rules. I entered a little later to make sure I was under the pivot. Exit per rules at 16:31, but I have my own rules. That's it in a nutshell...
Attached Image
  • #299
  • Nov 19, 2008 11:49am Nov 19, 2008 11:49am
Quoting TradeWell
Just kidding ...but I can tell you how I saw it. Watched the 5 min and it was clearly in short signal at the close of the 16:15 candle. However, I waited for the 1 min to also show the signal. At about 16:22 was typical entry on 1 min, according to rules. I entered a little later to make sure I was under the pivot. Exit per rules at 16:31, but I have my own rules. That's it in a nutshell...
Oh and one more point: the PA ran beautifully down the COG channel on both TF's. That's a nice addition to the THV chart that serves as another confirmation, if desired.
  • #300
  • Edited 12:29pm Nov 19, 2008 11:57am | Edited 12:29pm
Here a hint on how to get back your pips on a bad trade:

I was reading a year ago the complete thread of Jacko, a must read for all traders, It took me days. The most interesting part was his Anti Hedge strategy.

Let’s say you got stopped out in a strong downtrend, make a note where you had your SL and keep it sticked to your screen.
Let the price fall to where it wants to and on the reverse or retrace you step in the trade again on the point that you got stopped out.
That mostly worked for me but you should analyze where are strong R&S levels to setup your target again.

One other word on SL, never move your SL from where you have set it, you was analysing your trade before and know why you have done so.

Happy trading
22 traders viewing now