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THV system, final edition

  • #11,661
  • Jun 25, 2009 2:02pm Jun 25, 2009 2:02pm
Hi there,

I have been playing with the THV system the last few days and it rocks! Many thanks for making this available, it will become a permanent part of my toolbox.

Quick question which might be explained somewhere in this thread, but I don't seem to find it. How is the coral calculated? It is amazing how it seems to contain price, as shown in the attached gold 30 minute chart
Attached Image
  • #11,662
  • Jun 25, 2009 4:58pm Jun 25, 2009 4:58pm
Quoting notch
While the trades turned out well, I can't for the life of me work out why you would have taken the short trade.
Hi Notch:

I'll try and explain my thoughts about that trade if you explain to me how you managed to pump out 2000+ posts in less than two months! How do you get time to trade?! LOL....

Anyhow...about that trade....your right, it might have been a late entry; however, I entered as mentioned in the chart becuase of the bearish divergence, primarily.

Also, it was rejected at around the 50 level and it had been pushed down before. There was also a good chance of a retest of MS1 and the Coral which seemed to converge at around the same price...

And the trix trendline was broken and it was forming, both the red part of the slow and fast trix and the PA, a sort of wishbone shape which I have become accustomed to...

These are the reasons why I entered the trade. Having said all that, it was not a live trade and I did not have the benefit of the MTF indicators, so I am not sure if I would have taken the trade in a live session.

Thoughts?
Deprive a man of everything and you give him nothing to lose.
  • #11,663
  • Jun 25, 2009 7:07pm Jun 25, 2009 7:07pm
Many thanks MissPips for the link .
  • #11,664
  • Jun 25, 2009 7:58pm Jun 25, 2009 7:58pm
First off I want to thank everyone for there hard work on this system. You guys def. put in all the work on this project because you want to not because you have to.


I am new to forexfactory but not new to the forex world.


I just have one question regarding this system for the entries..



1. If price is below/above the cloud but not in the same direction on the cobra do you wait to enter?


For example if I wanted to go short, do I want for the price to be below the cloud and the cobra?(because it goes under the cloud first, so then do I wait for the price to drop below the cobra also?)

thanks in advance

best regards for all
  • #11,665
  • Jun 26, 2009 1:33am Jun 26, 2009 1:33am
Thanks for your response.

Have been away for a few days...hence the delay. I'm still have a few problems and will again later.

freddi

Quoting MissPips
1. How do I get my Ishimoku indicator to be transparent, so that it does not block out the PA? Also the last bar appears way too far off to the right hand side compared to all/most other charts on this thread.


Right click on the chart. Select Properties. Select the Common tab. Check chart on foreground.


2. I do not get the 'Divergence' arrows on the TRIX on the 1 min TF, but do for all other TF's


In the Indicator input set Show in 1 m chart to true and set draw indicatortrendlines and draw pricetrendlines parameters to true.


3....
[/quote]
  • #11,666
  • Jun 26, 2009 1:35am Jun 26, 2009 1:35am
Well this thingy is an MA and is called Coral, not Cobra.

Both are snakes but slightly different.

You should take only long trades when the PA is above the Coral, for short only under the Coral.

This is a rule but any rule has exeptions, for example a touch of a very good S&R level (like the DP) could be one of those, but there you need to play your "feeling" .




Quoting cuzloc
First off I want to thank everyone for there hard work on this system. You guys def. put in all the work on this project because you want to not because you have to.


I am new to forexfactory but not new to the forex world.


I just have one question regarding this system for the entries..



1. If price is below/above the cloud but not in the same direction on the cobra do you wait to enter?


For example if I wanted to go short, do I want for the price to be below the cloud and the cobra?(because it goes under the cloud first, so then do I wait...
  • #11,667
  • Jun 26, 2009 3:33am Jun 26, 2009 3:33am
Quoting cashmeer
Hi Notch:

I'll try and explain my thoughts about that trade if you explain to me how you managed to pump out 2000+ posts in less than two months! How do you get time to trade?! LOL....

LOL! Well if I was trading the THV system on the 1m or 5m I definitely wouldn't have time to trade but much of my trading is about sitting and waiting. Thus thread posting gives me something to do in between.

I don't have any thoughts about your entry. I guess much of the THV can be down to personal trader preference.

What is the significant of the Coral changing colour?
  • #11,668
  • Jun 26, 2009 5:56am Jun 26, 2009 5:56am
Quoting cobraforex
Well this thingy is an MA and is called Coral, not Cobra.

Both are snakes but slightly different.

You should take only long trades when the PA is above the Coral, for short only under the Coral.

This is a rule but any rule has exeptions, for example a touch of a very good S&R level (like the DP) could be one of those, but there you need to play your "feeling" .
Thank you for the reply. And sorry for using the wrong name it wont happen again. Very nice system I will continue testing it
  • #11,669
  • Jun 26, 2009 6:27am Jun 26, 2009 6:27am
Hi Cashmeer,

Thanks for that post. Very well put about the wishbone shape of the trix!

Quoting cashmeer
Hi Notch:

I'll try and explain my thoughts about that trade if you explain to me how you managed to pump out 2000+ posts in less than two months! How do you get time to trade?! LOL....

Anyhow...about that trade....your right, it might have been a late entry; however, I entered as mentioned in the chart becuase of the bearish divergence, primarily.

Also, it was rejected at around the 50 level and it had been pushed down before. There was also a good chance of a retest of MS1 and the Coral which seemed to converge at around the same price......
  • #11,670
  • Edited 7:21am Jun 26, 2009 7:05am | Edited 7:21am
Hi MissPips,
I setup the V3 THV together with your MTF stuff just this week.
But now i seem to have 2 Trix indi's running. The standard Trix and the MTF one, both showing the same output.
If i remove the MTF one i get the errors mentioned a few posts back.
Do i need both trix's?


Edit: Solved (removed all then MTF Trix in first)

Also from me a massive THANKS to all who contributed for this great piece of work.
Attached Image (click to enlarge)
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  • #11,671
  • Jun 27, 2009 3:22am Jun 27, 2009 3:22am
HI Cobra,
Just a question about your system. Does the it automatically draw trend lines on the price action (as some chart packages do) and does it also draw divergence lines automatically on the trix indicator when it sees divergence as shown in your manual?

If not it's no problem but just helps to make you aware of these things if you are closely watching say the price action and forget about them.

Cheers
rtb
  • #11,672
  • Jun 27, 2009 3:27am Jun 27, 2009 3:27am
Not sure if this was answered before??? but what is the intended purpose of the Coral changing colour between red/yellow/green (ie. do we take a strategy action from this or is it purely informational - although there are plenty of short trades taken for example when the Coral is green and visa versa)?

Thanks.
  • #11,673
  • Jun 27, 2009 3:29am Jun 27, 2009 3:29am
I am in the UK.
Could you confirm if the settings shown below that I have changed to are correct for the fib pivots as instructed in the manual?

My broker's chart time is 1 hour ahead of GST at the moment

!st setting set to (1)
2nd setting set to (-8)

Thanks
rtb
  • #11,674
  • Jun 27, 2009 7:54am Jun 27, 2009 7:54am
Quoting rtb
HI Cobra,
Just a question about your system. Does the it automatically draw trend lines on the price action (as some chart packages do) and does it also draw divergence lines automatically on the trix indicator when it sees divergence as shown in your manual?

If not it's no problem but just helps to make you aware of these things if you are closely watching say the price action and forget about them.

Cheers
rtb
Hi RTB:

THV does not draw trendlines in the PA.

THV TRIX has an inbuilt divergence indicator that will display the 4 types of divergence on the trix indicator and display an arrow. Having said that, it is not perfect and occasionally misses divergence. It also displays the arrow only after the fact. It, obvisouly, cannot anticipate divergence. Therefore I recommend that everyone try and draw out their own divergence and use the indicator as a confirmation.

Hope that answers your question.
Deprive a man of everything and you give him nothing to lose.
  • #11,675
  • Jun 27, 2009 7:55am Jun 27, 2009 7:55am
Quoting JohnnyFOREX
Not sure if this was answered before??? but what is the intended purpose of the Coral changing colour between red/yellow/green (ie. do we take a strategy action from this or is it purely informational - although there are plenty of short trades taken for example when the Coral is green and visa versa)?

Thanks.
There is no signifigance in the color of the coral. It used to be in the earlier versions of THV that the color would indicate the trade direction, but that is no longer the case.
Deprive a man of everything and you give him nothing to lose.
  • #11,676
  • Jun 27, 2009 12:42pm Jun 27, 2009 12:42pm
I found this thread just a few weeks ago and have been trading a method based off of THV on the M1 EU with very good results.

I have since started a trading journal named "Billions" in the journal section. I have some screenshots up of how I trade this method and general info on my technique. I am keeping it updated with my trade manifest and extra notes as well as screenshots of trades.

I just wanted to thank all the members who have spent so much time on this. Putting together something like this takes a lot more time than people realize and I am very grateful.

Keep trading,
DarkDays
  • #11,677
  • Jun 28, 2009 3:48am Jun 28, 2009 3:48am
Quoting rtb
I am in the UK.
Could you confirm if the settings shown below that I have changed to are correct for the fib pivots as instructed in the manual?

My broker's chart time is 1 hour ahead of GST at the moment

!st setting set to (1)
2nd setting set to (-8)

Thanks
rtb
***************Hi rtb , Yes I have also posted a request for clarification of Fibpivots settings . Will somebody in the forum please help here ??. The manual directions are confusing . Thanks in anticipation
  • #11,678
  • Jun 28, 2009 2:15pm Jun 28, 2009 2:15pm
Are you guys base your stops on what the ATR figure says in the top left hand corner?
I find on the M15 it often shows 70-90 pips, but I certainly am not chasing a profit target of that much, thus I would have a R/R of less than 100%.
How do you base your stops and what do you do if the MTF lights turn the other way? do you exit straight away?
Trading Makes Money!
  • #11,679
  • Jun 28, 2009 10:38pm Jun 28, 2009 10:38pm
Nice divergence trade together with 00 psych level, good for a fast 20 pips.

Those trades have very high hit rate.
Attached Image (click to enlarge)
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  • #11,680
  • Jun 28, 2009 10:41pm Jun 28, 2009 10:41pm
Sorry, can't help you with more than what's written in the manual, I use ODL for not having this trouble.

Quoting melco
***************Hi rtb , Yes I have also posted a request for clarification of Fibpivots settings . Will somebody in the forum please help here ??. The manual directions are confusing . Thanks in anticipation
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