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THV system, final edition

  • #9,561
  • Apr 14, 2009 12:51pm Apr 14, 2009 12:51pm
Quoting ZieG
can anyone provide a good website and easy to understand information about the divergence. I read and re-read in the babypips many times but still confuse when i use the THV. Do we look at the faster trix?
Draw a trend line on the faster Trix, then draw a trendline on PA. Be sure to draw it the same on both: either on top or underneath. If the slope of the two is different (one ascending, one descending) then you have divergence. You can remember this saying to help you know what that means:

Bottom's up (divergence underneath, PA indicates up)
Top down (divergence on top, PA indicates down)

That's as simple as I can explain it. It assumes you know about drawing trend lines.
  • #9,562
  • Apr 14, 2009 1:12pm Apr 14, 2009 1:12pm
Quoting MissPips
You're welcome. Most thanks go to Cobra, for providing the base system, and organizing the team, though.

You need 6 points out of the 10 rows. The Ichimoku is part of the 10 rows. So if you have 2 green in the first trix histo (as long as it includes the 1m f and the 5m f) , 2 green in the second trix histo and 2 green in Ichimoku histo you can take the trade.
Many thanks for indis Miss Pips and explanations........

In the origional set ups I recall Cobra saying something along the lines of ( correct me if I am wrong)

Scalp on M5.......... M1 takes REAL FX skills.....

So if these new indicators are used on a M5 chart do I need to modify settings on the MTF indis so they show M15 M30

Ie two time frames above the one being traded on - if that makes sense.

Thanks in advance

R
  • #9,563
  • Apr 14, 2009 1:45pm Apr 14, 2009 1:45pm
Quoting cobraforex
I ment it like I said

For a long trade fast trix should cross and be ABOVE the slow trix.
i GUESS we do not understand each other....
I mean fast trix must cross from down slow trix and yes must be above slow one.....but i write you about another thing...IMO for long entry much safer when trix cross happens below 0 line. That what i want to say.

My fault BAD english...
  • #9,564
  • Apr 14, 2009 2:02pm Apr 14, 2009 2:02pm
Quoting TradeWell
Draw a trend line on the faster Trix, then draw a trendline on PA. Be sure to draw it the same on both: either on top or underneath. If the slope of the two is different (one ascending, one descending) then you have divergence. You can remember this saying to help you know what that means:

Bottom's up (divergence underneath, PA indicates up)
Top down (divergence on top, PA indicates down)

That's as simple as I can explain it. It assumes you know about drawing trend lines.
That does help a lot, thanks you
  • #9,565
  • Apr 14, 2009 2:42pm Apr 14, 2009 2:42pm
I've been inspired by your post to release the MTF Divergence indicator.
In the first chart below, the red line shows where your trade was. (The Trix histo looks different on my because my provider's server disconnected, so the real time data for the tris histos was lost there. But for the purpose of the MTF Divergence indicator this doesn't matter because it doesn't repaint, and doens't report real time data.)
The earliest that this indicator can report a divergence on a higher timeframe is the start of the bar after the trix indicator on that timeframe identifies it, which is usually but not always two bars from the peak/valley. In the first screenshot, the green bar is where the divergence on the 15m chart was reported on the 1m chart, and the green bar on the second screenshot is where the trix knew about it on the 15m timeframe. In this case the divergence was caused by the 16:15 (GMT+3) bar on the 15m chart so it was reported at 16:30 on the 1m chart.

There are no rules for using this indie. On the 1m tf I set it to 5,15,30 and 60, and I use it as a warning that the trend might be changing. As you can see from the first screenshot, it would have given you a heads up not to take a short where you did, because you had divergence on two higher timeframes.

Cautionary note, like all the divergences reported by the trix, these sometimes lag what you would notice if you were watching the chart itself. But, if you are not watching those timeframes anyway, this can be a help.

For this indie to work you need the same THV3 Trix for MTFHisto.exe file as you do for all the other mtf indies.

This is a beta version. Another version will be released with the next release of THV.

Quoting deltaworld
Hello All and thank you to CobraForex, THV Team, TradeWell, Miss Pips and all of you all on this forum.

I have just entered my first 1M THV3 Miss Pips strategy on EURUSD. This is the setup that I did

I entered Short on EUR/USD at 132.516
with a stop loss of 15 pips and TP of 10 pips

I entered as shown on chart when the candle and histogram closed 6 red with 2 of them on the top 2. The Fast trix was also below slow trix on chart.

And PA was below cloud & coral.

since entering the trade.. as you can see that the trix has crossed and both...
Attached Image(s) (click to enlarge)
Click to Enlarge Name: div1.png Size: 59 KB
Click to Enlarge Name: div2.png Size: 65 KB
Attached File(s)
File Type: ex4 thv MTF Divhisto BarV3.1.1.ex4   15 KB | 1,052 downloads
  • #9,566
  • Apr 14, 2009 2:51pm Apr 14, 2009 2:51pm
I have a question please, on this chart the trend indicated 79% down, but the price is actually moving sideways. Is this an overall average of candels ?
Attached Image (click to enlarge)
Click to Enlarge Name: 42.jpg Size: 180 KB
  • #9,567
  • Apr 14, 2009 2:53pm Apr 14, 2009 2:53pm
Quoting BeachBum
News Announcements.....News Announcements.....News Announcements

So many people are not paying enough attention to the.........NEWS !!!

The little "downburst" identified by Pip Princess was triggered by the FOMC News Announcement. Once the energy from that was expended, who knows what the PA will do. But as PP says; you can usually expect some kind of a retrace after the News action has ceased. If you like living on the edge; then by all means trade close to a news announcement. But be sure to fasten your sealtbelt first; it's usually a rather...
Please do not think I am picking on you. I am not. But imho, paying attention to the news can be dangerous to your financial health. I will concede that knowing WHEN there is to be important releases (of news, garbage, whatever) can help you set up for a possible move. But that is all that "stuff" is worth. As far as actually LISTENING to any of it, don't bother. So called "news", releases, etc. are going to be used by the market movers to their own advantage. And that can sometimes mean manipulating the PA in just the opposite direction from what is expected. Put it this way....."news" sometimes embodies a legitimate reason to change the price, but most often it is used just as an excuse to do so. So, upcoming "news" can mean possible PA activity will occur. That is all. Don't read anything more into it. And beware that the PA activity may, or may not be suitable for trading. Personally, I find that in MOST cases, the PA will completely reverse any move made on "news". It will do so in a less frenetic way, in a more tradeable way, and will happen within a few sessions, if not a few hours!
  • #9,568
  • Edited 3:18pm Apr 14, 2009 3:04pm | Edited 3:18pm
Quoting DrMcDDC
Wanted to jump in here and share what has helped me with entries and getting stopped out. You are getting stopped out because you are going against the BIGGER TREND when scalping.

Dont forget about the importance of the Analysis Chart. Its simple H4, and gets your game plan down. I have severely simplified my charts the more I do this. I now use Bemac's setup with the M15 on THV, using the H1 and H4 on the histo, but most importantly my analysis chart. The M1 and M5 are too hectic for me to follow here at work.

I have a nice little zigzag indicator,...
Great post, McD! There is no substitute for real thinking in this trade! And, if I may add, look for sequences of highs and lows. It bears repeating that a sequence of higher highs and higher lows shows upwards price bias. And a sequence of lower highs and lower lows shows downwards price bias. The attached H4 chart to go along with McD's shows the fib retrace and this time with Highs and Lows shown. The way this can be traded is to accept the sequence here is lower highs and lower lows. Now look for a significant line of demarcation, which if the PA breaks down thru it, will present a trade entry opportunity. On this H4 chart, the 38% retracement line qualifies. A real conservative entry would be a break of the 50% (Center) line. A real aggressive entry would be to underscore the recent candles on a smaller TF chart, and enter on a break down thru that score/trend line (see second chart).
Attached Image(s) (click to enlarge)
Click to Enlarge Name: screenshot # 92.gif Size: 39 KB
Click to Enlarge Name: screenshot # 93.gif Size: 34 KB
  • #9,569
  • Apr 14, 2009 3:08pm Apr 14, 2009 3:08pm
Quoting ZieG
can anyone provide a good website and easy to understand information about the divergence. I read and re-read in the babypips many times but still confuse when i use the THV. Do we look at the faster trix?
It is all very simply put at this url which Cobra provided moons ago:

http://www.forexfactory.com/attachme...5&d=1228757312
  • #9,570
  • Apr 14, 2009 3:29pm Apr 14, 2009 3:29pm
1. How many of you are trading the THV system on the 4H and above TF? Do you follow the THV rules or a modification of them.

2. What is your w/l ratio and are you in positive pips territory.

3. Has anyone substituted HA candles with Renko bars or Range bars and what is your results from this action.

Time constraints make it difficult for me to trade the lower TF and also sitting in front of the screen results in my taking irrational actions leading to regrets and questions as to my actions. I would feel a lot better trading the higher TF with tight stops and traling s/l as a trade management device.

Any followups?
  • #9,571
  • Apr 14, 2009 3:33pm Apr 14, 2009 3:33pm
Quoting traderathome
Great post, McD! There is no substitute for real thinking in this trade! And, if I may add, look for sequences of highs and lows. It bears repeating that a sequence of higher highs and higher lows shows upwards price bias. And a sequence of lower highs and lower lows shows downwards price bias. The attached H4 chart to go along with McD's shows the fib retrace and this time with Highs and Lows shown. The way this can be traded is to accept the sequence here is lower highs and lower lows. Now look for a significant line of demarcation, which if the...
Hello traderathome!
Can you attach your template and indi ... volumes, trix etc., please?

You have very clear setup.

FC
  • #9,572
  • Apr 14, 2009 3:53pm Apr 14, 2009 3:53pm
I do not feel "picked on"..............

And I agree with your observations; perhaps I did not make myself completely clear (not the first time; probably won't be the last...lol!).

I do NOT 'listen' to the news; just a bunch of "talking heads" IMO. But I do 'watch-out' for the news because it can easily spoil a nice trade setup. Hence my comment about trading "non-news" pairs during periods of news announcements. And my comments were directed to the trader who wondered why his trade did not go as planned; again, IMO he did not factor in the effect the news announcement 'might' have on his planned trade.

My observation is that for the most part a news announcement will temporarily mess with PA; but once the dust has settled from the announcement, PA goes back to doing what it was doing before the announcement. Kind of like a blip on the radar, but a blip that should (must) be acknowledged AND respected.

Thanks for the comments; sometimes two heads are better than one............


Quoting traderathome
Please do not think I am picking on you....
  • #9,573
  • Apr 14, 2009 5:50pm Apr 14, 2009 5:50pm
How many hours a day do you generally spend in front of the monitors trying to fill your daily pip goal? Cobra, you mentioned in an earlier post that your target is 40 pips per day. I think it might help noobs to know how many hours a day they should expect to spend scalping if they heard it from two pros. Anyone else - please fell free to share as well. My wife and I spend 9 hours a day.

Dan
Without vision, the people will perish.
  • #9,574
  • Apr 14, 2009 5:58pm Apr 14, 2009 5:58pm
Quoting bythepound
How many hours a day do you generally spend in front of the monitors trying to fill your daily pip goal? Cobra, you mentioned in an earlier post that your target is 40 pips per day. I think it might help noobs to know how many hours a day they should expect to spend scalping if they heard it from two pros. Anyone else - please fell free to share as well. My wife and I spend 9 hours a day.

Dan
I've set myself a target of 40 pips daily during the London session, once the book is filled I close that platform and go to sleep or scalp a mini for a while.

If I can't get my 40 pips, I stop to trade after London close.

I also use the mini for scalping the E/Y during the asian session if I have the time and mood.
  • #9,575
  • Apr 14, 2009 7:39pm Apr 14, 2009 7:39pm
Quoting traderathome
EJ H1 Chart: Note this last hour candle was a whopper....and with high relative volume. To me, this sets the bias for some days to come. Down! PA entered a resistance zone, but they are working it back up....probably to get the PA into a higher zone for more heavy shorting (which will drive it down again, and likely further). Once/if it breaks south of this zone, it will be a clear signal the big boys have loaded up on shorts and the PA will be driven down substantially for them to make good profits. Just my hypothesis.
i think youre right TAH
looking at my 4h i see 130.and 129 poss
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ejall.gif Size: 96 KB
Click to Enlarge Name: 4hej.gif Size: 83 KB
  • #9,576
  • Apr 14, 2009 9:38pm Apr 14, 2009 9:38pm
Zeig, this is the file you were asking for.
Attached File(s)
File Type: ex4 THV3 InfoPanel.ex4   27 KB | 733 downloads
  • #9,577
  • Apr 14, 2009 9:45pm Apr 14, 2009 9:45pm
Quoting cobraforex
I've set myself a target of 40 pips daily during the London session, once the book is filled I close that platform and go to sleep or scalp a mini for a while.

If I can't get my 40 pips, I stop to trade after London close.

I also use the mini for scalping the E/Y during the asian session if I have the time and mood.

Hello Cobra ...

And you have a limit on maximum loss per day? For example, if the day everything goes wrong for you to operate with many pips lost in total?

Thanks
I am Brazilian and I never give up!
  • #9,578
  • Apr 14, 2009 10:01pm Apr 14, 2009 10:01pm
Quoting windelevel
Hello Cobra ...

And you have a limit on maximum loss per day? For example, if the day everything goes wrong for you to operate with many pips lost in total?

Thanks
Three losing trades in row and I close the trading room for the day.

Those days are losses and I don't try to get these pips back, every day starts with a new task of 40 pips from London open to close max.
  • #9,579
  • Apr 14, 2009 10:14pm Apr 14, 2009 10:14pm
Quoting cobraforex
Three losing trades in row and I close the trading room for the day.

Those days are losses and I don't try to get these pips back, every day starts with a new task of 40 pips from London open to close max.

Hum ... Thanks for responding ...

I'm doing well, my daily goal is 30 pips (3 traders with TP 10 pips of each) ... or closing the day lost 45 ~ 50 pips (3 traders with 15 pips of each SL )....

What do you think that my way of operating?

Thanks
Have a great Wednesday
I am Brazilian and I never give up!
  • #9,580
  • Apr 15, 2009 1:12am Apr 15, 2009 1:12am
I am still pretty new, so I am in front of the monitors for long days.
But my goal is 20 real pips daily, stop after two losses in a row. After I get my 20 real pips I practice on demo trying to see if I can tweek anything to work better, or program or read something to educate myself for the rest of the day.

Quoting bythepound
How many hours a day do you generally spend in front of the monitors trying to fill your daily pip goal? Cobra, you mentioned in an earlier post that your target is 40 pips per day. I think it might help noobs to know how many hours a day they should expect to spend scalping if they heard it from two pros. Anyone else - please fell free to share as well. My wife and I spend 9 hours a day.

Dan
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