DislikedThanks to Cobra for the THV strategy and to all of the contributors who have helped make it better. I have been a student of the THV system almost from the beginning of the original thread.
[font=Calibri][size=3]There have been several posts explaining the need to have an “analysis chart” – in this case a 5 minute chart that uses candlesticks. On this chart you would draw trendlines, review S&R levels and pivot points. I agree. In addition however, we might just refer to the TRIX on the...Ignored
RSI in the THV system indicator window is not a line but rather green and red "worms" that only show up when RSI is oversold or overbought. The red and green lines in the indicator are both T3 TRIX. The green is a faster trix and the red is a slower trix.
Read through this site thoroughly to get a good idea of how trix works: http://www.investopedia.com/articles...2.asp?viewed=1
From my experience, if you want to use the trix in and around the 0 for long and short calls, in addition to your other analysis and THV setup, then it is safer and probably more accurate to rely on the slower trix - the red trix. I can post dozens of charts where the green trix goes in and out of the 0 for misleading trades.
For divergence calls, from my limited experience, [doblece, tradewell, cobra and traderathome might elaborate] it is usually the red trix that indicated the reversal.
Trading the trix crosses, of one another and the 0, in combination of the THV is something that was discussed on the thread earlier. I think we came to the conclusion that that strategy is based on higher risk tolerance and would probably require more technical analysis.
The jist of my post is that I believe that the slower trix, the red one, is more of a reliable indicator when used as a momentum indicator passing through 0.
Any comments?
You know what...I take back what I said. I should leave it to the more experience to discuss this. I usually use trix to note oversold and overbought and for divergence, I use the red trix cross of 0.
I looked at a 5 min chart and I am not yet comfortable with the green trix as an indication of a setup just yet. I need to review the previous week or more...good thoughts though.
I would wait for one of the others to comment before anyone adopts this as a supplemental strategy.
Deprive a man of everything and you give him nothing to lose.
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