THV system, final edition

Maggie the Cat from "Cat on a Hot Tin Roof"

Is it Dutch for loving,faithful, wonderful,PATIENT wife?

mmmm pussycats ...

Your showing you age brother!

everything is hovering around support 3. US stock market is about to close. gonna be boring for a couple of hours

support 3 and coral are converging. on m1 and m5

Thanks my friend. I get by with the 32 inch LCD but I hate flipping through charts. I'd rather have 1 monitor for 1 chart, etc. Thanks again, this really helps.

Hi. Go to the internet and enter the home page of a retailer. Do the following search: "usb video card". There you will find external usb DVI, VGA, etc. cards. Hope this helps.

Been up since 2:30am, with a couple of catnaps. Believe me, I'm feeling my age!

Catch you guys later tonight or tomorrow. Good pippin' to you.

I am only sharing! Please do not crucify me!
This is based on what could be important levels based on my analysis.

I do not trade these levels as that would imply bias.
I trade what chart shows in THV.
I use these analyses to remind me how this EUR/USD animal behaves and misbehaves, it is only part of the big picture.

One chart is fibs as I use them from an earlier post.
The other is my handy-dandy S/R chart.

Important numbers I see on the low end I see .2860 area good support and on the high end I see .3260 area as good resistance. The intermediate S/R at .3080 I see as a pivot point for bears and bulls.

You can see the correlating numbers on each chart.

Also my channel on the 4h(purple)from 12/25/08 has allowed price to enter after a vacation North. Appears .2970 will have to hold for channel to keep this animal tamed.

I have no doubt we will have a breakout, when? when the powers that move, move it. Trade your THV and supplemental charts and you will be okey-dokey!

Greetings everyone:

I hope y'all enjoyed the last two days..

I hope y'all made as many pips as you could...

I cannot hold myself from saying this; based on what I have experienced with it, the new trix is absolutely incredible! Y'all are in for a real treat! The divergence in whatever time frame is ridiculously accurate!

Anyhow, the patience will be well worth it...

Just came back from the pool.
THIS is what we call in the Dutch Antilles your pussycat............


NOT taking any trades here, for me not the right time to be in the market.
This is the time to catch some sleep for the London action.

Even in a ranging market, there is still validity in S&R.

I drew the green diagonal line between point A and B as soon as price started to head back down. Notice that PA respected this line eight times before the false break-out towards the right of the screenshot. The support line was also drawn between C and D and then left alone. Price reacted to this also by the pip.

I still believe that PA, Pivots and S&R are and will always be the backbone of any trading strategy, but I must admit that after a couple of days of studying this set-up, the fog has started to clear and today, I actually made some pips.

So thanks to everyone who keeps this thread alive
PS. I still reckon that price will drop to the top of that green diagonal line (resistance becomes support), but to be honest, I chickened out and bagged another 10 pips.

hehehe

Cheers

Dazzer

Cashmeer.

I am in the same position as you are.

I have the biggest problems NOT to enter a trade when the fast Trix turns color. Even on the old Trix I think it is visible when to enter, but the change in color makes it so much nicer and easier to trade with.

STRANGE:
waiting for something good always feels 100x harder then it really is.

Thanks Gofer, I always find your charts and analyses useful.

I promise to not let this influence my trading decisions.


PS Volume has dropped to bugger all. No more pips for me til tomorrow.

Dazzer

WTF am I watching.
WTF is the world coming to??????????

Hi All,

For all of those who are contributing to the thread – great job, and many thanks to Cobra for all of your hard work!

SORRY for the long post, but I need everyone’s opinion here regarding the MACD and the 5 MIN T3 TRIX as an entry filter for trades to be taken on the 1 minute chart.

In my opinion, the THV v.2 in its current form allows you to be both aggressive and conservative without having to do a lot of technical analysis. For the conservative trader, follow the rules of the Coral indicator: Only long when you get a THV entry signal above the Coral and vice versa.

For the aggressive trader, you might take THV entries regardless of the Coral; for example going long when the T3 closes above the Hull Replace and the HA candle is out of the cloud, but you are still BELOW the Coral. This would be considered a contrarian trade.

If you are unsure of the entry criteria, visit the first page of this thread to review Cobra’s rules.

In either case, a filter would help make the right entry choices easier to obtain.

Several weeks back, someone mentioned using a MACD as a “filter” to help sift the good entries from the bad ones on the THV chart. I agree. I have been testing the idea of using the standard MACD offered by MT4. You will find that most MT4 packages use this one as well as the Traditional MACD.

I must admit that the way I use the MACD is NOT the traditional way of using it, which traditionally is used as a convergence/divergence tool (hence the name MACD - Moving Average Convergence Divergence).

When watching the 1 MIN or 5 MIN chart, one can see many potential entries. But, when you combine the “filtering nature of the MACD” the way I do, it should reduce many of the entries that end up working against you.

So, what if you want to do a contrarian trade against the Coral? Or what if you want more confidence on your trades where the Coral agrees?

** Even with the new TRIX coming in THV v2.1, the MACD and 5 MIN TRIX should still help with entry selection. **

The MACD as an entry filter:

KEY POINT: The green bars must be above 0.0, at or near the same time the THV entry appears, or within 1-3 candles and the red signal line should be at or above 0.0. If the signal from THV has been given, but the MACD is “late”, better to pass on this trade – see the trade example marked by the thick PINK line.

KEY POINT: If the MACD bars have been above the 0.0 line for a long time, AND you get a fresh entry signal from THV, the green MACD bars MUST be above the red signal line on the MACD, if not, it means the trend is weak at the moment. You will see this weakness on some of the potential entries marked by the red lines.

KEY POINT: If you have been long on a position for a good period of time and you are up many pips, and the bars on the MACD begin to drop below the red signal line, you might think about exiting your long.

KEY POINT: The red signal line on the MACD should be trending in the direction of your trade when you get the THV signal. If the green bars have popped above the red signal line and above the 0.0 line, BUT the red signal line is trending down, LOOK OUT – a reversal is coming.

Long Aggressive:

The T3 has closed above Hull replace, HA candle above T3 and out of cloud. T3 TRIX – green above red. MACD bar at or above the 0.0 line and trending upward and the red signal line at or above the 0.0 line – BUT you are still under the CORAL – That’s what makes this an aggressive trade or scalp.

Long Conservative:

The T3 has closed above Hull replace, HA candle above T3 and out of cloud. T3 TRIX – green above red. MACD bar at or above the 0.0 line and trending upward and the red signal line at or above the 0.0 line – AND your entry signal coincides with you being above the CORAL – this is a conservative trade.
(FOR SHORT ENTRIES – DO THE OPPOSITE OF ABOVE)

ENRTY EXAMPLES: EUR/USD on 1/29/09 from 8:00 am EST to 14:38 EST (2:38 PM EST).

I have posted several charts to illustrate what I am describing here. The following entries are both conservative (those might agree with the CORAL) and aggressive (those that are entered against the CORAL). All potential entries shown in either green or red are based on those entries where the T3 closed above/below the Hull replace, and above/below the cloud, and there T3 TRIX agreed on the 1 MIN.

The GREEN lines: Longs or shorts that might be entered where the MACD indicator AGREED with the entry rules of THV. These are safer, less draw down risk.

The RED lines: Longs or shorts that might be entered where the MACD indicator DISAGREED with the entry rules of THV. These are not as safe, much greater risk of drawdown.

The thick YELLOW lines: Shows the US news today. So the potential entries right near the news were ignored.

The thick PINK line: A perfect THV v.2 setup 9including CORAL agreement), but the MACD was “late” in agreement. I would have passed on this. But you can see there was a secondary entry on the retest around 11:28 EST.

MACD SETTINGS


Settings under the Parameters:
Fast EMA 12
Slow EMA 20
MACD SMA: 9
Apply to: Close

Settings under the Colors:
I use green for the Main and red for the Signal. Make the Main a solid thick line and the red as you desire.

Settings under the Levels:
You will need to add a level, in this case “0.0”.
Style: this is the color of your 0.0 line – I made mine a little thick and a Magenta color.

The 5 Minute T3 TRIX as an entry filter for the 1 minute chart.

In addition to using the MACD as a filter for entries on the 1 minute chart, you should only go long on the 1 minute chart if the 5 MIN T3 TRIX shows the green line above the red line and trending up. You should only go short on the 1 MIN chart if the 5 MIN T3 TRIX shows the green line below the red line and trending down. You should use extreme caution with entries on the 1 MIN chart if the T3 TRIX on the 5 MIN is showing “overbought or oversold.”

Commentary:

Using the MACD as a filter in this manner is only a tool to add to your trading tool box. The entry and exit rules established by Cobra FX for the THV system still apply and you should review the rules of this system carefully.

The MACD filter and T3 TRIX on the 5 MIN can be used as a filter for potential trades taken with or against the CORAL if all other THV entry criteria are met.

As with any trading strategy or tool, the trade may still work against no matter how perfect the entry signals look, and this is especially true when you choose to scalp the 1 minute time frame.

Remember, every strategy works right up until it doesn’t – so always be ready to exit a trade if it goes bad – always use stops. You must always consider pivot points, support and resistance, and news events. I have found the pivot points in the THV system to be excellent.

All of the above rules can be applied to trading the 5 MIN and 15 MIN charts as well (even higher time frames if you are that patient), if you prefer to stay away from the 1 MIN time frame.

This post is in no way meant to challenge the entry rules of the current and future THV entry rules. I look forward to any feedback regarding this post and your opinion.

Thanks.

Hi, have been searching for a system similar to thv and I think I have found it: thv! I am by no means a new trader and for me this is just a business like any other business: sometimes interesting and sometimes boring. I have been using the thv system for one month now as a scalping system because this is the way I trade. It is a wonderful system but must be accomodated to the personal way of the trader. I won't recomend to trade like I do because it is too risky and besides that it needs some experience. My main concern is to trade so I don't write much. I just wanted to thank Cobra for his effort and also a lot of members for their generosity offering a sort of semidiscretionary system that works, if one stucks to it for a while. In the last two days I was lucky making some good pips with thv... regards, joh

Thank you very much for your input and collaboration to the system!

My personal opinion and as a member of THV Team, is that indeed everyone is free to add as much filters and other non-included indicators to your own comfort. However, the main idea behind THV is to develop both an efficient and productive trading setup which can work on any timeframe, with also multiple choices as to its scope and risk level, AND at the same time, the less encumbered design, with only the most necessary filters and indicators so it is simple to learn and easy to understand, and at the same time giving the best possible results.

I am certain that there are, besides MACD, many indicators that one or the other member of this thread and Forum is accustomed to or likes to see on his/her screen to help in the decision making (I for one was only using ONE single indicator and I keep it on my charts with the THV setup, in the same way there are indicators that I don't use so I don't have them). However again, the discussion of this thread is centered upon a particular setup with its rules and elements, so everyone can share his/her own experience with the system using the same tool, at least when posting charts, so others are able to understand and learn.

Finally, we are always open to evaluate any changes or additions to the system, coming from any of you, be it a member or the Team or not, because many minds together can build better ideas. In any case, one has to keep in mind that if it is intended to simplify the system while increasing its effectiveness, it will assuredly be considered in a positive manner.

We wouldn't want to diverge from the central idea, which is to teach and learn fully the THV system and its rules, and how it works or performs for everyone using it. When this is achieved, of course anyone can add as many lines and filters as he/she pleases, anyway remember that the core of the system is the Trix (and especially in the new version to be released soon).

What we want to avoid is confusion, especially for the newbies or people new to this system, so I would consider more appropriate to discuss your views on MACD for THV directly with Cobra who then will in his turn discuss it with the Team so we can make a decision about it

Thank you again for your enthusiasm to help with THV system and your interesting development about the MACD possibilities in it!