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THV system, final edition

  • #301
  • Nov 19, 2008 12:02pm Nov 19, 2008 12:02pm
Quoting cobraforex
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.
[font=Arial]Let the price fall to where it wants to and on the reverse or retrace...
I heard about that but haven't tried it yet. Maybe because I haven't had to recover too much.
  • #302
  • Nov 19, 2008 12:07pm Nov 19, 2008 12:07pm
Quoting cobraforex
Good question AK
THV doesn’t use an exactly price entry, it is more to understand as a trigger zone,
cool, gotcha... i can take it from there..

keep up the great work.
FUBAR...
  • #303
  • Edited 2:11pm Nov 19, 2008 1:58pm | Edited 2:11pm
Looks like a buy opportunity at 19:52, just above the MS1. I did not enter because I do not buy below the DP. Any other reason that trade should not be entered?

Edit: I think I figured it out. It should not be entered because a resistance formed around 1.2610 and did not quite get broken.
  • #304
  • Nov 19, 2008 3:37pm Nov 19, 2008 3:37pm
21:30 GMT - THV giving a clear sell signal but S2 just under. If it breaks...
  • #305
  • Nov 19, 2008 3:52pm Nov 19, 2008 3:52pm
Quoting TradeWell
Edit: I think I figured it out. It should not be entered because a resistance formed around 1.2610 and did not quite get broken.
You found the explanation already by yourself, good work
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  • #306
  • Nov 19, 2008 5:46pm Nov 19, 2008 5:46pm
Hi there!
First of all, sorry for my english, cause it isn't my native
On one site there are quite interesting calculations of S&R levels. I'll post it here. As for me, they work very good. We can calculated S&R levels for any period we want (day, hour, session). We just tak HLC prices and...do some maths.
There are three types of S&R lines. It depends on the movement before. So:

Reduced - we expect the market to be silent. After big movements for example.

R1 = ((High – Low)*0.146))/2 + Close
R2 = ((High – Low)*0.236)+R1
R3 = R1+2*((High – Low)*0.236)
R4 = R3 + (R1 - S1) R5 = R4 + ((High – Low)*0.236)

S1 = Close - ((High – Low)*0.146))/2
S2 = S1 - ((High – Low)*0.236)
S3 = S1- ((High – Low)*0.236)*2
S4 = S3 - (R1 - S1)
S5 = S4 - ((High – Low)*0.236)

--------------------------------------

Normal - for common market.

R1 = ((High – Low)*0.236))/2 + Close
R2 = ((High – Low)*0.382)+R1
R3 = R1+2*((High – Low)*0.382)
R4 = R3 + (R1 - S1)
R5 = R4 + ((High – Low)*0.382)

S1 = Close - ((High – Low)*0.236))/2
S2 = S1 - ((High – Low)*0.382)
S3 = S1-2*((High – Low)*0.382)
S4 = S3 - (R1 - S1)
S5 = S4 - ((High – Low)*0.382)

--------------------------------------

Extended - we expect large movement after silent period.

R1 = ((High – Low)*0.382))/2 + Close
R2 = ((High – Low)*0.618)+R1
R3 = R1+2*((High – Low)*0.618)
R4 = R3 + (R1 - S1)
R5 = R4 + ((High – Low)*0.618)

S1 = Close - ((High – Low)*0.382))/2
S2 = S1 - ((High – Low)*0.618)
S3 = S1-2*((High – Low)*0.618)
S4 = S3 - (R1 - S1)
S5 = S4 - ((High – Low)*0.618)

--------------------------------------

In attached image i illustrated S&R levels for 19 of november.

Also in attach you can find HLC.xls. It's an excel file with table to calculate S&R levels. I just have made it for myself and i'd like to share it with others
Attached Image (click to enlarge)
Click to Enlarge Name: pa_3.gif Size: 42 KB
Attached File(s)
File Type: xls HLC.xls   17 KB | 147,360 downloads
  • #307
  • Nov 19, 2008 6:53pm Nov 19, 2008 6:53pm
Quoting if_
Hi there!Also in attach you can find HLC.xls. It's an excel file with table to calculate S&R levels. I just have made it for myself and i'd like to share it with others
Interesting, thanks for sharing If.
  • #308
  • Nov 19, 2008 7:05pm Nov 19, 2008 7:05pm
Quoting cobraforex
Interesting, thanks for sharing If.
I'm glad to participate
  • #309
  • Nov 19, 2008 8:04pm Nov 19, 2008 8:04pm
TY Cobra... found ya.

Quick question....

When I look at the 1M I get a different "line" to the 5M, 1H etc....

...so which do I trust?
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  • #310
  • Nov 19, 2008 8:25pm Nov 19, 2008 8:25pm
Quoting eddiemiller
TY Cobra... found ya.

Quick question....

When I look at the 1M I get a different "line" to the 5M, 1H etc....

...so which do I trust?
What I do is make sure the 5 min is meeting the rules for the direction of the trade. After that I wait until the 1 min meets the rules and enter based on that. Those are the only 2 TF's that I base my trades on. I think cobra does the same. However, this system is always experimental so other TF combinations may also prove profitable.

Edit: I also see that you may be confused about the hull. It must be "pointing" in the same direction as the trade. It changes color once it goes out of the "directionless" (yellow) mode.
  • #311
  • Nov 19, 2008 8:42pm Nov 19, 2008 8:42pm
Quoting eddiemiller
TY Cobra... found ya.

Quick question....

When I look at the 1M I get a different "line" to the 5M, 1H etc....

...so which do I trust?
I guess you refere to the trade level on your chart, the green line. Whats wrong with that?
You need to see the price value not the horizontal difference.
  • #312
  • Nov 19, 2008 10:40pm Nov 19, 2008 10:40pm
I can't seem to see the little "+ trend +" indicator on the lower right
in the THV template
  • #313
  • Nov 20, 2008 1:08am Nov 20, 2008 1:08am
Quoting keymaker
I can't seem to see the little "+ trend +" indicator on the lower right
in the THV template
That's from the FerruFx THV indicator... make sure you have both the mq4 and ex4 file in the expert/indicators folder and if not, and if your MT4 version is build 220, download the ex4 file from the site.

If your version is earlier and you don't have the ex4 you can open the mq4 with MetaEditor and compile it, it will then show.

If you have both mq4 and ex4, and the indicator shows up in the indicators list of your chart, but still don't see it displayed, check the settings, you should have the TREND BOX (variable box_trend) set to "true".
  • #314
  • Nov 20, 2008 4:27am Nov 20, 2008 4:27am
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.
Hello al4x If you have found a more exacetly entry point would you be willing to share this?
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  • #315
  • Nov 20, 2008 5:58am Nov 20, 2008 5:58am
i noticed cobra spoke about an entry zone rather that an enrty point. what about TPs... i noticed there are some trades that are just 10pips and could even move swiftly against you. hence one must have good exit to take adavantage of this....please i'd be glad if someone can share how he/she exits his trades.
secondly, is there a way to note a breakout trade?
thirdly, do u take almost all trades on the 5min setup?bcos sometimes, the hull aint yellow but price is choppy.
  • #316
  • Nov 20, 2008 6:42am Nov 20, 2008 6:42am
Quoting wouste
Hello al4x If you have found a more exacetly entry point would you be willing to share this?
ak4x may not see your message for a while. Not sure how much he checks this thread. He also is not using THV at the moment. However, cobra may have some more thoughts. I have been using the system and currently there is no exact entry but the rules define it pretty well. If you are using the system, try it out on demo until you get a better feel for where to enter and exit. Good luck.
  • #317
  • Nov 20, 2008 6:57am Nov 20, 2008 6:57am
Quoting bayoor
i noticed cobra spoke about an entry zone rather that an enrty point. what about TPs... i noticed there are some trades that are just 10pips and could even move swiftly against you. hence one must have good exit to take adavantage of this....please i'd be glad if someone can share how he/she exits his trades.
secondly, is there a way to note a breakout trade?
thirdly, do u take almost all trades on the 5min setup?bcos sometimes, the hull aint yellow but price is choppy.
Yes some trades can be small - that is normal for scalping. I enter trades only when the 5min meets the rules AND the 1 min shows me a good entry point. From there, the rules say to TP when PA crosses the blue line or when candle changes color. I do it differently by scaling out some of my position early, then take a 2nd profit when I think it's really "turning" (subjective judgment), and maybe leave a small amount for a possible continuation - with stops at entry or better.

Breakout trades would use the same criteria. If your indicators hint a breakout is coming, then THV gives you the right signals, then there is a good possibility of a breakout trade.

Trading on the 1 min and 5 min TF's is what I do and what cobra has been using. However, others are trying different TF's. You may want to try 15 min as it is less choppy, but there will be less trades. I think cobra has experimented with 15 min, only using it when choppy, then going back to 5 min when direction is established.

Keep in mind that I have been trading less than a year and this is only my experience - it is not necessarily THE way to use the system. Try it out on demo and leave all of us your feedback. Good luck!
  • #318
  • Nov 20, 2008 7:28am Nov 20, 2008 7:28am
I have been driving this baby around today and must say its awesome! I'm 35+- pips up and still working it. I have lost some trades but thats because i'm to quick to get in must follow the rules. Other trades i could have let ride but again i was scared of loosing so i close the door. The THV System is the easiest and clearest one i have seen here on FF. Thanks Cobra you rock
If you can bend in the wind you can ride the storm.
  • #319
  • Nov 20, 2008 7:53am Nov 20, 2008 7:53am
How does this match up to what you guys have, just want to see if I have it set up right. Thanks
Attached Image (click to enlarge)
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  • #320
  • Nov 20, 2008 8:04am Nov 20, 2008 8:04am
Quoting todder
How does this match up to what you guys have, just want to see if I have it set up right. Thanks
It looks right as far as I can tell, but I don't trade that pair. Try it out on demo and see how it goes, and let us know.
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