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THV system, final edition

  • #11,921
  • Jul 8, 2009 1:53pm Jul 8, 2009 1:53pm
EU retrace up. But I think, downtrend will still continue.
It's already late here. Gotta to sleep now
Attached Image
  • #11,922
  • Jul 8, 2009 2:01pm Jul 8, 2009 2:01pm
Here we go again...

Considerations:

1.) 15 Min THV Analyze Chart RSI Bullish Divergence
2.) 5 Min Rejection at MS3 and Historical S&R
3.) 5 Min Bullish Divergence
4.) 1 Min Bullish Divergence and Break of T/L

Good for 15 pips or so...
Attached Image(s) (click to enlarge)
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Deprive a man of everything and you give him nothing to lose.
  • #11,923
  • Jul 8, 2009 2:06pm Jul 8, 2009 2:06pm
Try this template, they are beautiful but you need to know how to trade the rainbow.

Quoting pgpb
Miss Pips

Very pretty charts!!
I assume the lines are movingaverages, what moving averages do you use?
...and how to you make those rainbow colors!!

Keith
Attached Image (click to enlarge)
Click to Enlarge Name: rainbow.gif Size: 42 KB
Attached File(s)
File Type: tpl rainbow.tpl   5 KB | 797 downloads
  • #11,924
  • Jul 8, 2009 2:10pm Jul 8, 2009 2:10pm
And some more...

Quoting cashmeer
Here we go again...

Considerations:

1.) 15 Min THV Analyze Chart RSI Bullish Divergence
2.) 5 Min Rejection at MS3 and Historical S&R
3.) 5 Min Bullish Divergence
4.) 1 Min Bullish Divergence and Break of T/L

Good for 15 pips or so...
  • #11,925
  • Jul 8, 2009 2:42pm Jul 8, 2009 2:42pm
Yeah, I tend to use MAs more than diagonal trendlines for analysis. I use the following MAs on my 1 m analysis chart

240 s - (gold) approximates where the coral is on the 5 m chart
750 s - (red) approximates where the coral is on the 15 m chart
950 s - (green) approximates the spine of the rainbow on the 5 m chart
1500 s -( Blue gray) approximates the coral on the 30 m chart
3000 s (Brown) approximates the coral on the 60 m chart
3000 e (magenta) - don't remember what it approximates but also gets lots of PA bounces.

The rainbow colors are the Rainbowmma indicators. There's a few threads in FF about them. I like to use the rainbow and MAs for my analysis chart to help me see when we are in a trending market verses in a choppy market and which direction is the safest direction to take trades.




Quoting pgpb
Miss Pips

Very pretty charts!!
I assume the lines are movingaverages, what moving averages do you use?
...and how to you make those rainbow colors!!

Keith
  • #11,926
  • Jul 8, 2009 3:03pm Jul 8, 2009 3:03pm
Thanks! That one is gorgeous! I don't actually trade the rainbow, I just use it to visually see if there is chop or trend, and to see which direction is the safest to take THV trades in. (For example if I see a regular 6 point trade against the rainbow I don't take it. If I see a divergence trade against the rainbow, I only take it if the rainbow is very extended. If it's a divergence trade near the beginning of an orderly rainbow that still has a lot of expanding to do I give it a miss).

Quoting cobraforex
Try this template, they are beautiful but you need to know how to trade the rainbow.
  • #11,927
  • Edited 3:38pm Jul 8, 2009 3:21pm | Edited 3:38pm
Quoting MissPips
What I do is look at my analysis chart. When it looks like the first one I stay out until it looks like the second one.
Your charts look great, I will take a closer look at the template, that cobra posted. Thank you.

Do you use the same TF for your rainbow anal chart as the TF that you are looking to trade, or do you look at the bigger picture?
edit: solved, just saw you wrote 1m TF
Trading Makes Money!
  • #11,928
  • Jul 8, 2009 3:30pm Jul 8, 2009 3:30pm
First off; I trade the Thv working off the 5 min. chart. It works really well for me. Like most, I also like to know which way the trend is headed. For this I use the mma found here :http://www.forexfactory.com/attachme...3&d=1245655097 on the daily chart. It give a good visual at the start of my trading day. Simple to use and only 4.12 kb. There are many others but but this might be worth a look.
Hej.
  • #11,929
  • Jul 8, 2009 3:37pm Jul 8, 2009 3:37pm
Here is another version, pretty close to Daryl Guppy's, I may have changed it wee bit. There is a whole book he wrote if you can find it or afford it

Basically, your looking for yellow and aqua to be opposite with nutin' between.
I use regular candles to see the pullbacks better. Works on any TF.

regards all
Attached Image (click to enlarge)
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Attached File(s)
File Type: tpl guppy.tpl   16 KB | 613 downloads
  • #11,930
  • Jul 8, 2009 4:01pm Jul 8, 2009 4:01pm
At the beginning of the day I look at all the tfs (weekly, daily, 4hr etc) to get a feel for the big picture and see if there are any patterns like H&S or triangles etc to watch out for.

But to decide whether to take a trade at the minute a 6 point signal is given I look at the 1 m analysis chart. If the chart shows a orderly expanding rainbow trend, and not chop and if the trade is with the rainbow, and there are no conflicting divergences, and there is some open 'real estate' on the chart with no roadblocks in the way so the trade has room to move I take it.

If the rainbow shows chop, or the trade is against the rainbow (except divergence trades) or there is conflicting divergence or there is a roadblock in the way (like the pivot or the coral on a higher tf or the end of the daily range for example) I let it pass.

That means I let some good trades go, because sometimes there is enough momentum to get through a roadblock, and eventually one of those choppy waves is going to be the start of a good new trend. But, if it is, I know there will be more good trades down the road after an orderly trend has started and the roadblocks have been passed, and those are the safer trades.

Quoting Cencored
Your charts look great, I will take a closer look at the template, that cobra posted. Thank you.

Do you use the same TF for your rainbow anal chart as the TF that you are looking to trade, or do you look at the bigger picture?
edit: solved, just saw you wrote 1m TF
  • #11,931
  • Jul 8, 2009 5:20pm Jul 8, 2009 5:20pm
Here is what I do to help find a trending pair.

At the start of the day I look through the 8 pairs in my basket using the filters as shown. The TF is 30 mins.

I start with the pairs showing TRADE and reject any saying DO NOT TRADE from the noise filter. I then select the strongest looking pair(s) by referring to the ADX figures. I look for the highest numbers in the 1Hr & 4 Hr bands.

I then check that these pairs are still showing TRADE from the noise filter on a 1HR TF and only then fire up my charts and look for entries.

At the end of each trade I go back and check that the pair I am working on is still showing TRADE, if not I drop it and look for another.

Hope this helps. Any ideas to refine the process gratefully received.
Attached Image(s) (click to enlarge)
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  • #11,932
  • Jul 8, 2009 5:35pm Jul 8, 2009 5:35pm
Quoting macman
Here is what I do to help find a trending pair.

At the start of the day I look through the 8 pairs in my basket using the filters as shown. The TF is 30 mins.

I start with the pairs showing TRADE and reject any saying DO NOT TRADE from the noise filter. I then select the strongest looking pair(s) by referring to the ADX figures. I look for the highest numbers in the 1Hr & 4 Hr bands.

I then check that these pairs are still showing TRADE from the noise filter on a 1HR TF and only then fire up my charts and look for entries.

At the end of each...

I like the heatmap Macman, however I find it is not overly necessary.
The EURUSD usually has enough trading opportunities throughout an 8hr session (of your choice). I have resorted to only trading EURUSD. It helps you get a feel for that particular pair, how it moves, etc.
It also helps you concentrate purely on one pair, no distractions.
If it looks choppy, I simply go away from the computer and come back later. I find that if you look at too many pairs at one time, you start to overtrade as you see opportunities everywhere.
I have burned myself and now purely concentrate on one pair. There are enough signals to make you good pips.
Each to his own of course, this is just what I do.
Trading Makes Money!
  • #11,933
  • Jul 8, 2009 5:38pm Jul 8, 2009 5:38pm
Quoting MissPips
At the beginning of the day I look at all the tfs (weekly, daily, 4hr etc) to get a feel for the big picture and see if there are any patterns like H&S or triangles etc to watch out for.

But to decide whether to take a trade at the minute a 6 point signal is given I look at the 1 m analysis chart. If the chart shows a orderly expanding rainbow trend, and not chop and if the trade is with the rainbow, and there are no conflicting divergences, and there is some open 'real estate' on the chart with no roadblocks in the way so the trade has room...

Thank you Miss Pips, great explanation.
Do you actually wait til the rainbow has fanned out after a reversal and only then trade? The rainbow seems to only fan out wide after the market has moved a considerate amount of pips in that direction...
Trading Makes Money!
  • #11,934
  • Edited Jul 9, 2009 7:59am Jul 8, 2009 5:54pm | Edited Jul 9, 2009 7:59am
Quoting Cencored
I like the heatmap Macman, however I find it is not overly necessary.
The EURUSD usually has enough trading opportunities throughout an 8hr session (of your choice). I have resorted to only trading EURUSD. It helps you get a feel for that particular pair, how it moves, etc.
It also helps you concentrate purely on one pair, no distractions.
If it looks choppy, I simply go away from the computer and come back later. I find that if you look at too many pairs at one time, you start to overtrade as you see opportunities everywhere.
I have burned myself...
Actually I find very little difference trading any of these pairs on the London session, in my experience "a feel for a particular pair" does not really exist.

Also trading more than 1 pair in no way makes you tend to over trade, probably the opposite. If the setup does not look perfect there is always another pair.

Obviously this only applies to trading on longer TF's like M15 and above. If you are scalping M1/M5 then the pair you choose is much less relevant as you can not realistically scalp more than 1 pair at a time.

Just my 2 cents worth ...

p.s. This morning the filters put me on the USDJPY and the EURJPY pairs - check out what they did today - probably coincidence but still ....
  • #11,935
  • Jul 8, 2009 6:19pm Jul 8, 2009 6:19pm
Quoting macman
Here is what I do to help find a trending pair.

...
Great information everyone! Really helps me to know how others are working.

Sorry Macman but my screen isn't clear enough for me to identify your filters and indicators you use to filter out your trade/no trade decision. What are you using to make your first call of the day? Not including the mug of coffee. Can't live without that!
  • #11,936
  • Jul 8, 2009 10:42pm Jul 8, 2009 10:42pm
Today I have a better hand for the E/Y than yesterday.

Interesting how the ICCE indicator works in harmony with the S&R levels drawn by hand and divergence.
Attached Image (click to enlarge)
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  • #11,937
  • Jul 9, 2009 12:03am Jul 9, 2009 12:03am
I love the PA in this asian session, easy pips to make.
Attached Image (click to enlarge)
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  • #11,938
  • Edited 1:02am Jul 9, 2009 12:54am | Edited 1:02am
That was the last one for today in this pair, more than 100 pips cashed from bounce of 130.00 in a move of 30 (where we are now).

How people can say that scalping can't be profitable?
Attached Image(s) (click to enlarge)
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  • #11,939
  • Jul 9, 2009 12:56am Jul 9, 2009 12:56am
Hello,
does anyone know if the iMax Indicator has a sound alert as well?
Thanks.
  • #11,940
  • Jul 9, 2009 1:25am Jul 9, 2009 1:25am
Yes, I.


Quoting Cesta
Hello,
does anyone know if the iMax Indicator has a sound alert as well?
Thanks.
Attached File(s)
File Type: mq4 iMAXalert.mq4   6 KB | 830 downloads
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