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THV system, final edition

  • #11,681
  • Jun 28, 2009 11:51pm Jun 28, 2009 11:51pm
Regarding GMT and Opening times:

Just thought I'd seek clarification for all members on this in case there is an anomally in the understanding.

What is the developer's / trader's angle on this?

When we treat the London opening time as 0800, are we saying it is 8am local London time for the whole year; summer and winter?

As I currently understand from the programming, we seem to be suggesting that the London market opens at 9am in summer (GMT+1) and 8am in winter (GMT+0), which of course in reality could not be correct.

I have used CMC and currently use FXCM. Many brokers display London time on their platform (rather than GMT all year) ... which is in fact GMT+1 in summer and GMT+0 in winter (ie. they make the adjustment). So to set your broker settings as GMT+1 right now (UK summer) would require you to change your THV broker setting to GMT+0 when daylight savings is not active, and then change it back again to GMT+1 when UK daylight savings reactivates.

Is this correct? Otherwise for the purposes of the market hours indicator and pivot points calculations, we'd be seeing differing market opening hours in terms of local London 'turn up at the office' time - which of course would lead to an anomally in trading.

This aspect can be damn confusing and for those of use who trade critically around the London open for example, being innocently an hour out of synch. for 6 months of the year would be a bad thing .
  • #11,682
  • Jun 29, 2009 12:01am Jun 29, 2009 12:01am
That's easy, syncronize your indicators with this page and you'll be fine.

http://www.2009.worldmarkethours.com/Forex/wmh.htm

Quoting JohnnyFOREX
When we treat the London opening time as 0800, are we saying it is 8am local London time for the whole year; summer and winter?

As I currently understand from the programming, we seem to be suggesting that the London market opens at 9am in summer (GMT+1) and 8am in winter (GMT+0), which of course in reality could not be correct.

I have used CMC and currently use FXCM. Many brokers display London time on their platform (rather than GMT all year) ... which is in fact GMT+1 in summer and GMT+0 in winter (ie. they make the adjustment). So...
  • #11,683
  • Edited 4:46am Jun 29, 2009 2:45am | Edited 4:46am
Quick question:
I have started to take a closer look at M1 (from M15) as it gives earlier signals and is often good for 20 pips or so.
It seems like it is only necessary to look at direction of M5fast in order to make a decision in which direction to trade?
Is the Ichimoku Cloud Histo Ind necessary on the M1?

Lastly, there are dozens of signals on the M1 every day, do you guys trade a certain timeslot on a daily basis, or do you just stop once you have it 2 or 3 times 10 pips?
Trading Makes Money!
  • #11,684
  • Jun 29, 2009 5:44am Jun 29, 2009 5:44am
Quoting Cencored
Quick question:
I have started to take a closer look at M1 (from M15) as it gives earlier signals and is often good for 20 pips or so.
It seems like it is only necessary to look at direction of M5fast in order to make a decision in which direction to trade?
Is the Ichimoku Cloud Histo Ind necessary on the M1?

Lastly, there are dozens of signals on the M1 every day, do you guys trade a certain timeslot on a daily basis, or do you just stop once you have it 2 or 3 times 10 pips?
It's the same confusion I'm currently having, Someone please enlighten us.
  • #11,685
  • Jun 29, 2009 6:29am Jun 29, 2009 6:29am
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
You can check your settings against the values here:

http://www.livecharts.co.uk/Members/...rex_pivots.php
  • #11,686
  • Jun 29, 2009 7:18am Jun 29, 2009 7:18am
Thanks Cobra - however I've noted a possible bug??? in the Market Hours indicator.

As well as setting the variation from GMT for the user's broker, as I scroll down further I see that is says the London market open is programmed as 0800 GMT and the close for 1700 GMT.

This is incorrect during the UK summer isn't it?

The London market opens at 0800 London local time and closes at 1700 London local time all year round. So at the moment that equates to 0700 to 1600 GMT (this appears to be confrimed by that web link you posted also).
  • #11,687
  • Jun 29, 2009 9:44am Jun 29, 2009 9:44am
Quoting cashmeer
Away from a trading PC but traded these two trades on a demo...

Quick pips...
Thanks for showing your trades Cashmeer, I have learned a lot just by reading your posts. It is much appreciated.
One question to the trade you took above:
Are you just waiting for the trix to be one color and then as additional confirmation you wait for a divergence in that direction or a break of a T/L.
So you do not wait for 6 red/green lights on the MTF system according to Miss Pips?

Also what timeslot do you trade the EURUSD in?
Trading Makes Money!
  • #11,688
  • Jun 29, 2009 10:24am Jun 29, 2009 10:24am
Is there a way to make M5 coral to appear in M1? that will be great (not coral based on M1, but based on M5), that way we don't have to switch from M1 to M5.
  • #11,689
  • Jun 29, 2009 10:52am Jun 29, 2009 10:52am
Quoting MyaNyx
Is there a way to make M5 coral to appear in M1? that will be great (not coral based on M1, but based on M5), that way we don't have to switch from M1 to M5.
THV do not have MTF Coral but you can use MTF Moving average. If you do not have MTF MA, just PM me.
  • #11,690
  • Jun 29, 2009 11:02am Jun 29, 2009 11:02am
Quoting Wlfx
THV do not have MTF Coral but you can use MTF Moving average. If you do not have MTF MA, just PM me.
I tried to use MA (50) on the chart but it's the same as the Coral (with slight difference), also where can I find the MTF trix posted in the first post of this last page (#11671)?
  • #11,691
  • Jun 29, 2009 11:10am Jun 29, 2009 11:10am
Entered a nice one in SIM today.
My discovery is that it makes sense to wait for these setups that occur a few times a day.

Please check attached chart for explanations.
I did not wait for Miss Pips 6 lights, neither did I wait for PA to be above coral.
I was wary of the Pivot and scaled out just below it.
Please note, I made sure I traded in the direction of the H1 trend as you can see.
Some feedback would be appreciated :-)
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd.jpg Size: 155 KB
Trading Makes Money!
  • #11,692
  • Jun 29, 2009 11:10am Jun 29, 2009 11:10am
Quoting MyaNyx
I tried to use MA (50) on the chart but it's the same as the Coral (with slight difference), also where can I find the MTF trix posted in the first post of this last page (#11671)?
If you want 5min Coral on your 1min TF screen you just can use MTF MA, MTF Trix indicators and manual are posted at first post.
  • #11,693
  • Jun 29, 2009 11:59am Jun 29, 2009 11:59am
And another two trades that worked out nicely.
Please check charts for trade considerations.
Feedback is much appreciated ( I am still learning )
Attached Image (click to enlarge)
Click to Enlarge Name: eurusd2.jpg Size: 146 KB
Trading Makes Money!
  • #11,694
  • Jun 29, 2009 12:18pm Jun 29, 2009 12:18pm
Hello everyone. Quick question: Which settings should I set to have THV send me an e-mail alert every time the Fast Trix crosses the Slow Trix? I currently have my e-mail address set inside my Metatrader program - just not sure which settings should be set to "True" inside the Trixv4.01?

THx.

-MB
  • #11,695
  • Jun 29, 2009 12:23pm Jun 29, 2009 12:23pm
Quoting Cencored
Entered a nice one in SIM today.
My discovery is that it makes sense to wait for these setups that occur a few times a day.

Please check attached chart for explanations.
I did not wait for Miss Pips 6 lights, neither did I wait for PA to be above coral.
I was wary of the Pivot and scaled out just below it.
Please note, I made sure I traded in the direction of the H1 trend as you can see.
Some feedback would be appreciated :-)
however you would be entry also in the previus bullish..
in this.. with a loss.. nope?
Attached Image
  • #11,696
  • Jun 29, 2009 12:26pm Jun 29, 2009 12:26pm
That was a 'legal' and quite good 6 point trade because when you have divergence it in itself counts for four points. So you only need two other lights going for you, and also when you have divergence you don't have to wait for the coral, only the cloud. Divergence trades are indeed best when PA is going in the direction of the main trend and bouncing off something sturdy.

Quoting Cencored
Entered a nice one in SIM today.
My discovery is that it makes sense to wait for these setups that occur a few times a day.

Please check attached chart for explanations.
I did not wait for Miss Pips 6 lights, neither did I wait for PA to be above coral.
I was wary of the Pivot and scaled out just below it.
Please note, I made sure I traded in the direction of the H1 trend as you can see.
Some feedback would be appreciated :-)
  • #11,697
  • Jun 29, 2009 12:29pm Jun 29, 2009 12:29pm
Quoting MissPips
That was a 'legal' and quite good 6 point trade because when you have divergence it in itself counts for four points. So you only need two other lights going for you, and also when you have divergence you don't have to wait for the coral, only the cloud. Divergence trades are indeed best when PA is going in the direction of the main trend and bouncing off something sturdy.

Miss Pips, thank you so much for always taking time to respond. It is much appreciated.
A question: Simply trading your 6 light MTF system in the direction of the trend - would it be profitable in itself, or does it need additional confirmation (such as T/L breaks, Div, etc...)?
Trading Makes Money!
  • #11,698
  • Jun 29, 2009 12:30pm Jun 29, 2009 12:30pm
Both these are legal 6 point trades because, as mentioned above, divergence counts for 4 points in itself, and both these trades have divergence. Nice work!

Quoting Cencored
And another two trades that worked out nicely.
Please check charts for trade considerations.
Feedback is much appreciated ( I am still learning )
  • #11,699
  • Jun 29, 2009 12:36pm Jun 29, 2009 12:36pm
When I tested it and as I trade it I use divergence so I can't imagine trading without it. Part of the rules say to not trade against divergence, and also I find that if you take the divergence trades, especially the ones going with the higher tf trend, it gets you in on the right side sooner. So, for example, you might miss a regular 6 light trade that turned out bad because you were already in a divergence trade. (That having been said, not all divergence trades are equal. The ones bouncing off something sturdy in the direction of the main trend are definately better.) I also confirm the divergence with a second indicator - the Traders Dynamic Index.

I don't use trendlines that much but I am trying to pay more attention to them.


Quoting Cencored
Miss Pips, thank you so much for always taking time to respond. It is much appreciated.
A question: Simply trading your 6 light MTF system in the direction of the trend - would it be profitable in itself, or does it need additional confirmation (such as T/L breaks, Div, etc...)?
  • #11,700
  • Jun 29, 2009 12:45pm Jun 29, 2009 12:45pm
Quoting MissPips

I don't use trendlines that much but I am trying to pay more attention to them.
can U please explain that ?
thanks in advanced
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