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THV system, final edition

  • #7,021
  • Feb 27, 2009 9:06am Feb 27, 2009 9:06am
Quoting TradeWell
Made more today than any other day this week.
Was so obious today, I filled my book in the very beginning of the London session and since than scalping up and down the mini account.


Have a great weekend everybody, gonna make a round in the pool.
  • #7,022
  • Feb 27, 2009 9:15am Feb 27, 2009 9:15am
cobraforex,thanks for your help,Happy weekend!
Happy weekend everyone................
  • #7,023
  • Feb 27, 2009 10:01am Feb 27, 2009 10:01am
Hi

I tried to download your manual (pdf), however I received an error message. Could you help me. I have been using your system this morning without a manual...and made $1000 on 1 lot GBPJPY. I kinda get how to read the chart, but sure would appreciate a manual. Thanks again!
  • #7,024
  • Feb 27, 2009 10:06am Feb 27, 2009 10:06am
Quoting acorn
Hi

I tried to download your manual (pdf), however I received an error message. Could you help me. I have been using your system this morning without a manual...and made $1000 on 1 lot GBPJPY. I kinda get how to read the chart, but sure would appreciate a manual. Thanks again!
There have been thousands of successful downloads. Just keep trying. It is likely that your internet connection was briefly interrupted, causing a corrupted file.
  • #7,025
  • Feb 27, 2009 12:45pm Feb 27, 2009 12:45pm
Have a great weekend everybody!
  • #7,026
  • Feb 27, 2009 5:15pm Feb 27, 2009 5:15pm
Quoting SpecialEd
Good morning all. Nimuz, speaking from experience, I would not recommend trading the 1M unless you have a lot of experience on that timeframe. That's why Cobra calls it extreme scalping. Things happen quickly, and often all you get is 4-5 PIPs before price abruptly turns the other way.

Unless one is a gifted scalper, such as the Cobra, I would spend my time learning M15 and M5, looking only at M1 for final confirmation of entry. There are lots of PIPs to be had on those timeframes.

Just my thoughts, as you asked.
Thanks bro.That's useful :-)
  • #7,027
  • Feb 27, 2009 8:30pm Feb 27, 2009 8:30pm
freddy look your pm
  • #7,028
  • Feb 27, 2009 9:45pm Feb 27, 2009 9:45pm
Quoting acorn
Hi

I tried to download your manual (pdf), however I received an error message. Could you help me. I have been using your system this morning without a manual...and made $1000 on 1 lot GBPJPY. I kinda get how to read the chart, but sure would appreciate a manual. Thanks again!
I use Opera and had the same issue, so I copied the address into an Internet Explorer browser window and it downloaded no problem. Try IE if you are using Opera.
  • #7,029
  • Feb 28, 2009 2:11am Feb 28, 2009 2:11am
Hi Cobra,

Please, can you help me? I need to know how I can know if Trix are crossing or are changing color using iCustom()....Any idea ?
  • #7,030
  • Feb 28, 2009 3:18am Feb 28, 2009 3:18am
Hi Cobra...

I know you are very experienced in scalping...Regarding 1min TF will it be much a lot to set TP 10pip(exclude spread) ?Of course i know it depends in which situation...But if the price is far away from Fib retracement and pivot points what you can suggest me ?...I know i can use ATR but in most of time its showing (for TP) less than 10pip while price makes a lot...Any suggestions ?

Thank you

BTW: Tried dozens of indies to put into V3 chart to take more secure trades...nothing helped !!!...everything is told only with 2 indies. Just found more helpfull to have THV3 T3 on my chart, it clear my entry while price is crossing throu it and ichimoku.
  • #7,031
  • Feb 28, 2009 8:29am Feb 28, 2009 8:29am
Quoting Wlfx
...Regarding 1min TF will it be much a lot to set TP...I know i can use ATR but in most of time its showing (for TP) less than 10pip while price makes a lot...
While you are waiting for Cobra I can tell you my observations. I am not actively scalping this way yet (extreme scalping) but have done much practice and research. Taking profit at ATR is a good guide because the assumption is you are trading in a small range, due to market conditions. Although you are correct in that a trade could potentially become larger, most of the time it does not so it is risky to hold your position for long. However, you can try to retain the reward potential by scaling out your position. Take 1/2 or 3/4 profit at the ATR, then put stops at BE and let it ride. I can't say whether that strategy is more profitable than continuing to scalp though. The bottom line to all this is being able to identify what kind of market you are in. The time of day and market location have alot to do with this, but you also have to develop a feel for it. Once you can do that , it will greatly help in your ability to scalp.
  • #7,032
  • Feb 28, 2009 8:36am Feb 28, 2009 8:36am
congrats cobra on the V3 release..

Lets rock
Knock at the sky and feel the thunder
  • #7,033
  • Feb 28, 2009 9:40am Feb 28, 2009 9:40am
Quoting Wlfx
Hi Cobra...

I know you are very experienced in scalping...Regarding 1min TF will it be much a lot to set TP 10pip(exclude spread) ?Of course i know it depends in which situation...But if the price is far away from Fib retracement and pivot points what you can suggest me ?...I know i can use ATR but in most of time its showing (for TP) less than 10pip while price makes a lot...Any suggestions ?
I don't use any indicator for exit my trades while scalping, I take what the market wants to give me.

You may want to try the "Gann high low indicator" that I added in this screenshot to my E/Y scalp template. Please try it on the simulator to get customed to his behavior.

Note that scalp trades are very short lived and as less indicators you have as faster you can take your decision.
Attached Image (click to enlarge)
Click to Enlarge Name: gann.gif Size: 45 KB
Attached File(s)
File Type: ex4 THV Gann.ex4   2 KB | 2,190 downloads
  • #7,034
  • Feb 28, 2009 9:50am Feb 28, 2009 9:50am
Hi Cobra:

Could you please briefly explain how one should interpret the Average True Range that is showing on the left hand corner please? I didn't look at it too often, but whenever I do, it almost all the times shows the number of points of where I have my stop loss in mind!.. Please enlighten. take care.

Have a good one
Jeff
~*~You are only one trade away from humility~*~
  • #7,035
  • Feb 28, 2009 9:58am Feb 28, 2009 9:58am
Quoting ollytrader
Hi Cobra,

Please, can you help me? I need to know how I can know if Trix are crossing or are changing color using iCustom()....Any idea ?
What is the purpose of that?

I want to repeat, I share the system but not the mq4 files for reasons I mentioned before.

If there are well known traders as Ronald Raygun, Zen, Ak4x, BeachBum, LuckyLurker, hanover etc. I have no problem to give them the files but traders with poor or no history not.

I'm not the original coder of the THV indicators but with the help of good coders we could modify them to the needs of THV, the original ones can be find in the net.

I hope that this is clear now once for ever.

(linhchiter, you can stop PMing me now, reading this)
  • #7,036
  • Feb 28, 2009 10:18am Feb 28, 2009 10:18am
Thank you very much TradeWell and Cobra for your reply and suggestions...
  • #7,037
  • Feb 28, 2009 10:50am Feb 28, 2009 10:50am
Quoting jharteam
Hi Cobra:

Could you please briefly explain how one should interpret the Average True Range that is showing on the left hand corner please? I didn't look at it too often, but whenever I do, it almost all the times shows the number of points of where I have my stop loss in mind!.. Please enlighten. take care.

Have a good one
Jeff
THV3 ATR Pips shows x times the ATR(20) (in this case, 300% or 3x the average true range for the last 20 periods or candles).

You can read more about ATR here:
http://stockcharts.com/school/doku.p...e_true_range_a

Quote
True Range (TR) is defined as the greatest of the following:

  1. The current High less the current Low.
  2. The absolute value of the current High less the previous Close.
  3. The absolute value of the current Low less the previous Close.


Indeed it has been determined that 3 times the ATR(20) is a safe value to set the stops. ATR value can also give you an approximative idea about probable targets on each particular timeframe.
  • #7,038
  • Feb 28, 2009 11:52am Feb 28, 2009 11:52am
Doblece:

Thank you for the info and direction. Take care.

Have a good one
Jeff

Quoting doblece
THV3 ATR Pips shows x times the ATR(20) (in this case, 300% or 3x the average true range for the last 20 periods or candles).

You can read more about ATR here:
http://stockcharts.com/school/doku.p...e_true_range_a



Indeed it has been determined that 3 times the ATR(20) is a safe value to set the stops. ATR value can also give you an approximative idea about probable targets on each particular timeframe.
~*~You are only one trade away from humility~*~
  • #7,039
  • Feb 28, 2009 12:15pm Feb 28, 2009 12:15pm
Indeed I am a coder too. I was coding an ea and I just needed your help to call iCustom() not all the source code but now it's ok I have got the ex4 deassemblied!

Do you remember the following:

SoundAlertOnDivergence only works...when EnableAlerts is true...
If SoundAlertOnDivergence is true,..then sound alert will be generated,.otherwise a pop-up alert will be...


?

The ea works great and I am going to post it here! I am not going to sell it!
Don't worry I have cracked it only for me...

  • #7,040
  • Feb 28, 2009 12:16pm Feb 28, 2009 12:16pm
The code is perfect
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