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THV system, final edition

  • #9,621
  • Apr 15, 2009 8:59pm Apr 15, 2009 8:59pm
Quoting alsmith
I wanted to try this on a 1M TF [I like 5 and 15 myself].... not exactly the "perfect" THV setup, but you can see my entry the candle closed below the coral.

I took the THV 10 pips. I have an EA attached that closes trades for me once my initial traget has been reached.
Hi alsmith,
I'm interested in your EA, it's very great if you can share it to me :-)

Thanks in advance

-dz-
  • #9,622
  • Apr 15, 2009 10:18pm Apr 15, 2009 10:18pm
If you are willing to pay a broker 4 or 5 pips for a trade, why not move up to higher time frame and execute one trade for the same number of pips as 4 or 5 trades on a M1 chart? One broker fee and less stress on M5 or better yet, M15.

This method works on any time frame because the technical basics remain unchanged. Newbies should stay away from fast charts; eliminate the word "RISKY" from your trading vocabulary !!!

Quoting ThinkFX
Hello Guys,

Made Demo on Asian, with EJ, and found two nice RISKY trades, but still profitable. That probes how strong is this system. The main problem is that I have 4 to 5 PIPs Spread, that also was paid, but is really expensive for that small trades.

Thx to All THV Team.

MissPips, thx for your last explanation, was really usefull to understand cmpletely the system.


Attachment
  • #9,623
  • Edited 10:58pm Apr 15, 2009 10:26pm | Edited 10:58pm
I'm posting this EA in hopes to compliment the THV system. Please note that it isn't an indicator, and in no way detracts or impairs the integrity of the THV system.

It is a trailing stop EA. You can attach it to multiple charts, but in doing so you MUST change the "Magic number" for each chart it is attached to.

You can set the SL and the TP.... I highly recommend putting a SL in there--the THV number recommendation is good. [15]

The default TP is perfect for the THV system [10]. Once a trade is placed, if you do instant execution, the SL of [0-default] is put in effect after the trade has gone 10 pips positive.

The 2nd step default is 30, SL 10.

My TP Settings are:

10,3

15,10



This goes in your Metatrader---> Experts folder
Attached File(s)
File Type: mq4 ManageTPv2-4.mq4   6 KB | 832 downloads
  • #9,624
  • Apr 15, 2009 10:34pm Apr 15, 2009 10:34pm
Quoting BeachBum
If you are willing to pay a broker 4 or 5 pips for a trade, why not move up to higher time frame and execute one trade for the same number of pips as 4 or 5 trades on a M1 chart? One broker fee and less stress on M5 or better yet, M15.

This method works on any time frame because the technical basics remain unchanged. Newbies should stay away from fast charts; eliminate the word "RISKY" from your trading vocabulary !!!
Thanx BeachBum,

I do agree completely to you. I was thinking to try 5 Min TF, but starting with 1 Min because the rules are on that TF.
The 1M system is for EU, the spread is low enough for that TF.

And I will attend your recomendation. Just trade those NOT RISKY labeled.
Few trades with low risk, are better than a lot, with high risks.

Thanks again.
  • #9,625
  • Apr 15, 2009 11:35pm Apr 15, 2009 11:35pm
Quoting ThinkFX
Thanx BeachBum,

I do agree completely to you. I was thinking to try 5 Min TF, but starting with 1 Min because the rules are on that TF.
The 1M system is for EU, the spread is low enough for that TF.

And I will attend your recomendation. Just trade those NOT RISKY labeled.
Few trades with low risk, are better than a lot, with high risks.

Thanks again.
Hehehe... Except for some people, doing this business in the long run will make you to look at on the higher time frame. Less stress, lower whipsaw, easier to analyze, and minimize the bad trade behavior. I trade based on 15M TF and even sometimes larger my range into 1h. Use 5M or 3M just for entry purpose. All work well so far.

Btw my EJ spread also 2-4 pips exclude the comm. Still trade it though.
Manage your risk accordingly and you're half done your home work.
  • #9,626
  • Apr 16, 2009 12:58am Apr 16, 2009 12:58am
Quoting alsmith
I'm posting this EA...
Wow.. Alsmith, thanks for your kindness... and also many thanks to cobra and all the THV developer :-)
  • #9,627
  • Edited 3:00am Apr 16, 2009 2:56am | Edited 3:00am
Have made a few rounds on this pair. Looks like downward momentum is still strong. Anyone else trading it?
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  • #9,628
  • Apr 16, 2009 3:30am Apr 16, 2009 3:30am
Quoting WhiteRabbit
Have made a few rounds on this pair. Looks like downward momentum is still strong. Anyone else trading it?
Not yet. I'm waiting 130.00 break. This line has been retested yesterday but failed. Yet, still optimistic it will break.
Manage your risk accordingly and you're half done your home work.
  • #9,629
  • Apr 16, 2009 3:45am Apr 16, 2009 3:45am
.
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  • #9,630
  • Apr 16, 2009 3:46am Apr 16, 2009 3:46am
After reading MTF trading rules, I decided to trade safer, So I am always waiting for 10 green or red to take the trade in 5M TF.(1M fast,1M slow,5M fast,5M slow,15M fast,15M slow,30M fast,30M slow,and both cloud histos).It reduces trades,but I guess it makes them safer.

But a while ago,I saw the setting was reached, and so I took the trade(short,where u see thumb down),as you see in the picture,but It went against me and in -8 I saw the doji heiken ashi candle and closed the trade.

Then,just by the chance,I changed the template to check others,and when I came back,I saw that those setting were never happened!(10 red lumps,which I've seen them already!)

Any idea what happened to me?!or what was my mistake?
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  • #9,631
  • Apr 16, 2009 5:26am Apr 16, 2009 5:26am
Quoting Pip_Seeker88
After reading MTF trading rules, I decided to trade safer, So I am always waiting for 10 green or red to take the trade in 5M TF.(1M fast,1M slow,5M fast,5M slow,15M fast,15M slow,30M fast,30M slow,and both cloud histos).It reduces trades,but I guess it makes them safer.

But a while ago,I saw the setting was reached, and so I took the trade(short,where u see thumb down),as you see in the picture,but It went against me and in -8 I saw the doji heiken ashi candle and closed the trade.

Then,just by the chance,I changed the template to check...
I see a few things:
1. M1 Fast and M5 Fast were green. The rules say 6 of 10 (in your case you're going for 10 of 10) - but the top 2 (M1F/M5F) have to be the color of your trade (green/buy; red/sell).
2. You were trading into bullish divergence on M5 - very reliable signal to stand aside or jump onboard in opposite direction.
3. Imo, closing at -8 pips really did not give your trade time to work, given the trend was strongly down. This is one of those that eventually would have worked for you if you'd hung in there.

I think I'm seeing this correctly based on where I see you took the trade and exited (the "x" mark?).

Good luck.
Up or down, gimme a ticket
  • #9,632
  • Edited 7:20am Apr 16, 2009 6:43am | Edited 7:20am
Quoting Pip_Seeker88
After reading MTF trading rules, I decided to trade safer, So I am always waiting for 10 green or red to take the trade in 5M TF.(1M fast,1M slow,5M fast,5M slow,15M fast,15M slow,30M fast,30M slow,and both cloud histos).It reduces trades,but I guess it makes them safer.

But a while ago,I saw the setting was reached, and so I took the trade(short,where u see thumb down),as you see in the picture,but It went against me and in -8 I saw the doji heiken ashi candle and closed the trade.

Then,just by the chance,I changed the template to check...

You can't use the same settings for the trix histobars in different TF's-ESPECIALLY smaller TF's into bigger TF's

What I have on my 1 and 5 only because it forms a clearer pattern, official THV settings found in *.PDF with system

1M chart

1M Fast
5M Fast
15M Fast
1M slow


5M slow
30M fast
15M slow
30M slow

5 Minute

5M fast
5M slow
15M fast
60M fast

15M slow
30M fast
30M slow
60M slow
  • #9,633
  • Apr 16, 2009 6:44am Apr 16, 2009 6:44am
Quoting Pip_Seeker88
Then,just by the chance,I changed the template to check others,and when I came back,I saw that those setting were never happened!(10 red lumps,which I've seen them already!)

Any idea what happened to me?!or what was my mistake?
SpecialEd answered your other questions, So I'll answer this one.
What you saw in your chart(10 red lamps) before you switched to other TF's is based on real time data. However after you came back from other TF's, the trix histo recalculates the previous lamps based on existing data so you see it different.

Say,

on 5M - 10 red lamps - this is based on real time data, or say what is happening at the moment
switch chart to other tf
switch chart back to 5M - now you dont have real time data only historical data, say what happend earlier. ( now you may see only 8 red lamps and first 2 gone green).

Hope this helps, I'm sure MissPips has explained this clearly in earlier pages, I just couldnt find it now.

Karun
  • #9,634
  • Apr 16, 2009 7:11am Apr 16, 2009 7:11am
Thanks alsmith,and thanks karun,for ur helpful comments,
I guess there are lot's of things to be learnt for a newcommer...specially,DIV!

Pip_Seeker88
  • #9,635
  • Apr 16, 2009 7:24am Apr 16, 2009 7:24am
Quoting BeachBum
If you are willing to pay a broker 4 or 5 pips for a trade, why not move up to higher time frame and execute one trade for the same number of pips as 4 or 5 trades on a M1 chart? One broker fee and less stress on M5 or better yet, M15.

This method works on any time frame because the technical basics remain unchanged. Newbies should stay away from fast charts; eliminate the word "RISKY" from your trading vocabulary !!!

Do you follow 6 lights rule on 5min or 15min charts? Is the MTX setting same on 5min/15min chart as in 1m chart as laid out by misspip? Can you post the MTX settings for 5min and 15min charts? thanks
  • #9,636
  • Apr 16, 2009 7:40am Apr 16, 2009 7:40am
EU H4 Chart: Somebody tell me this ain't gunna drop BIG TIME, once the big boys finish farting around with changing positions........
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  • #9,637
  • Edited 8:28am Apr 16, 2009 7:50am | Edited 8:28am
EU M15 Chart: Support transitioning to resistance....? IMHO this area is very slowly transitioning from being support to being resistance. The time it takes is likely slow because the market movers may have a lot of positions that need to be reversed.....and it will take however long it is going to take to sucker others into what will turn out to be the wrong side of the next big move.....
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  • #9,638
  • Apr 16, 2009 8:25am Apr 16, 2009 8:25am
Quick question guys, the zero line on my THV Trix v4.01 is not showing. I've set the zero line to white but still no avail. Also reloaded the indi from the zip file in the 1st post.

Anyone can help?
  • #9,639
  • Apr 16, 2009 8:34am Apr 16, 2009 8:34am
I know my chart keeps changing, but I am search of the most "bang for the buck" so to speak, as my time is limited, and I'd rather raise my leverage for absolutely guaranteed pips--lowering my "pip basket" for the day and going and doing other things.

In other words: extreme scalping

This is where my Manage TP EA comes in handy as well.


These are valid THV trades, all lights correspond, and are above the coral.
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  • #9,640
  • Apr 16, 2009 8:44am Apr 16, 2009 8:44am
Quoting alsmith
I know my chart keeps changing, but I am search of the most "bang for the buck" so to speak, as my time is limited, and I'd rather raise my leverage for absolutely guaranteed pips--lowering my "pip basket" for the day and going and doing other things.

In other words: extreme scalping

This is where my Manage TP EA comes in handy as well.


These are valid THV trades, all lights correspond, and are above the coral.
I cannot really discern where are your entries and exits....
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