yes it is and works very well with THV3 in any time frame
feel free to post it here, may be someone is interested
- #6,241
- Feb 18, 2009 10:20am Feb 18, 2009 10:20am
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
feel free to post it here, may be someone is interested
- #6,243
- Feb 18, 2009 10:49am Feb 18, 2009 10:49am
- Joined Aug 2008 | Status: Sharpen the Scalper Razor | 4,704 Posts
I hope this is of interest to some one it works well for me with THV3 in any time frame
- #6,245
- Feb 18, 2009 11:10am Feb 18, 2009 11:10am
- Joined Oct 2005 | Status: Trade the MAX System with me... | 1,995 Posts
General observation for all:
I have been looking at and using the Divergence Indicator extensively since I found this thread. This is a powerful tool if used properly and carefully because trading Divergence is in itself very powerful (if you're not familiar with this phenomenon, read about it at BabyPips).
At present I have a MT4 platform running with 56 charts open; all of them ONLY have the Divergence Indicator applied with the alert function turned on. When the alarm sounds, I check the chart. The smaller the timeframe, the smaller the potential for a profit. But each signal possesses the potential for at least a small profit. If you use ATR for the selected timeframe, you have a potential profit target.
Currently the ATR on the EUR/USD 5M chart is 10 pips. The signal you referred to personalme had the potential to yield 22 pips less spread. 10 pips on this signal would have been a respectable 'scalp-trade'. Larger timeframes will yield greater profits and the stop losses needed to trade this signal are usually very small.
If interested, I suggest spending some time looking back at previous signals to appreciate the potential of Divergence Trading. I'll post more on this as time passes.
I have been looking at and using the Divergence Indicator extensively since I found this thread. This is a powerful tool if used properly and carefully because trading Divergence is in itself very powerful (if you're not familiar with this phenomenon, read about it at BabyPips).
At present I have a MT4 platform running with 56 charts open; all of them ONLY have the Divergence Indicator applied with the alert function turned on. When the alarm sounds, I check the chart. The smaller the timeframe, the smaller the potential for a profit. But each signal possesses the potential for at least a small profit. If you use ATR for the selected timeframe, you have a potential profit target.
Currently the ATR on the EUR/USD 5M chart is 10 pips. The signal you referred to personalme had the potential to yield 22 pips less spread. 10 pips on this signal would have been a respectable 'scalp-trade'. Larger timeframes will yield greater profits and the stop losses needed to trade this signal are usually very small.
If interested, I suggest spending some time looking back at previous signals to appreciate the potential of Divergence Trading. I'll post more on this as time passes.
Do we have a 5M bearish divergence here? Think short but 15M looks deadly bullish. Very very tricky.
read again what I posted yesterday about the bollinger bands and candlesticks as an additional trigger, that might help you.
THV is NOT a click and forget system, you need to work out trading plans.
BTW: traderathome is the Maestro in BB's
- #6,247
- Feb 18, 2009 11:28am Feb 18, 2009 11:28am
- | Joined Jan 2008 | Status: a small step to the future | 560 Posts
General observation for all:
The next bearish divergence, I went short again but now, I close it with +10 on hand. Just like master Cobra said: better bird in hand than eagle on the roof.
Please post more in the future. Your comment bless me much.
Manage your risk accordingly and you're half done your home work.
- #6,248
- Feb 18, 2009 11:39am Feb 18, 2009 11:39am
Hello Cobra and his Team
It is my first post on this forum - hello everyone. I'd like to say "BIG Thank's" Cobra for this system.As you probably know I'm newbie and I hope I will submit some my winner charts (now I'm a loser on my demo deposit
I've red all this thread (it takes me about one week) - very valuable for me.
PS
I'd like to encourage all newbie to follow all this thread - you can avoid asking some simple question . Remember : RTFM !
If you don't have a time for learning, you schould consider one more time your approach to FX.
May the PIP be with you !
Robert
PS
how I can draw colored short TL in MT4? I can't find it in metatrader manual
PS II
Sorry for my english I'm using my own dialect - Funy English!
It is my first post on this forum - hello everyone. I'd like to say "BIG Thank's" Cobra for this system.As you probably know I'm newbie and I hope I will submit some my winner charts (now I'm a loser on my demo deposit
I've red all this thread (it takes me about one week) - very valuable for me.
PS
I'd like to encourage all newbie to follow all this thread - you can avoid asking some simple question . Remember : RTFM !
If you don't have a time for learning, you schould consider one more time your approach to FX.
May the PIP be with you !
Robert
PS
how I can draw colored short TL in MT4? I can't find it in metatrader manual
PS II
Sorry for my english
I'm using my own dialect - Funy English! - #6,249
- Feb 18, 2009 11:47am Feb 18, 2009 11:47am
Hi Guys (non sexist opening),
Here is my trade from this morning showing how THV works by looking for confirmation on higher TF's.
First saw the M15 downturn then looked for an opening on M5 and after finding that, entered the market after finding good entry point on M1. Took 52 pips on this trade thanks largely to trusting the TRIX on M5.
Hope this helps someone out there. Any comments welcome.
Here is my trade from this morning showing how THV works by looking for confirmation on higher TF's.
First saw the M15 downturn then looked for an opening on M5 and after finding that, entered the market after finding good entry point on M1. Took 52 pips on this trade thanks largely to trusting the TRIX on M5.
Hope this helps someone out there. Any comments welcome.
- #6,250
- Feb 18, 2009 11:48am Feb 18, 2009 11:48am
Here was a 20 + pip move...stiff resistance at .50 but broken...
1.) 15 min divergence and red trix.
2.) 5 min divergence and continuation of strong trendline. Break and retest of S1.
1.) 15 min divergence and red trix.
2.) 5 min divergence and continuation of strong trendline. Break and retest of S1.
Deprive a man of everything and you give him nothing to lose.
- #6,251
- Edited 12:03pm Feb 18, 2009 11:51am | Edited 12:03pm
Any comments welcome.
Nice flippin' trade
ADD: My only comment would be that people, especially new traders that entered above the pivot line may have brought their S/L to B/E too quickly and got stopped out when PA retested the Pivot line in the 1 min. Many times, Cobra has recommended to wait till PA breaks the pivot and retests before entering after PA starts to move again.
For more experienced traders this may not be a problem...
Just my thoughts...
Deprive a man of everything and you give him nothing to lose.
- #6,252
- Feb 18, 2009 11:57am Feb 18, 2009 11:57am
Nice flippin' trade
- #6,253
- Feb 18, 2009 12:00pm Feb 18, 2009 12:00pm
- Joined May 2006 | Status: Still here. | 2,602 Posts
that "break out" of the 5 min completely faked me out, and I only realized why after I added the fibs to the chart. It stopped exactly at the 50%...and fell back quicker than I should have been prepared for...
Fibs are useful.
txtaz