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THV system, final edition

  • #11,961
  • Jul 9, 2009 3:18pm Jul 9, 2009 3:18pm
When you and Jimmy are talking about ranging vs trending, what time frame are you talking about? I find that I'm having success even if higher time frames are consolidating/ranging, therefore making M1 have these miniature trends. At least enough of a trend to scalp using the coral and trix. The only time I stay completely away from M1 is if coral is flat and it is in a tight range. I'm loving this method!

Quoting macman
Hi Jimmy,

Glad it is proving interesting. I have not looked at using it on M1 myself, but should work. I did hear of someone using tick charts for market direction who only traded when the 1M noise filter gave the OK.

For the longer TF trader the ADX figures are very useful.

As you probably know on average a currency pair is ranging for about 70% of the time and trending for only about 30%.

If we add that a good system like THV is about 70% accurate in a trending market, you can see how important being able to identify a trending market...
  • #11,962
  • Jul 9, 2009 6:57pm Jul 9, 2009 6:57pm
Quoting DarkDays
When you and Jimmy are talking about ranging vs trending, what time frame are you talking about? I find that I'm having success even if higher time frames are consolidating/ranging, therefore making M1 have these miniature trends. At least enough of a trend to scalp using the coral and trix. The only time I stay completely away from M1 is if coral is flat and it is in a tight range. I'm loving this method!
I'm talking about the time frame I am on. The 1hr time frame might be in a consolidation for hours and hours but the 1m chart during that time can be providing plenty of trends to trade.

I think you have it figured out though, if the coral is flat it means it's consolidating...
  • #11,963
  • Jul 9, 2009 7:21pm Jul 9, 2009 7:21pm
Quoting Cencored
Did not look like a bad trade, what do you think went wrong here?
Hi Cencored,

A lot went wrong here!

1. If you had drawn the trendline correctly, you will know that PA might bounce off the trendline.

2. You are scalping the 1M, why is your MTF indicators for trix and cloud on M30 and M60?

Using the MTF indicators to trade in my opinion is for advance users who understands how the trix works. It will be a lot easier to trade the manual system, understand it and then move on to the MTF indicators at a later stage with more experience.

Hope this helps.

Regards,
CaveMan
Attached Image (click to enlarge)
Click to Enlarge Name: eu1m.jpg Size: 106 KB
  • #11,964
  • Jul 9, 2009 7:44pm Jul 9, 2009 7:44pm
Quoting macman
Hi Mark,

The larger pic is of the 8 pairs as they show on my double 19" screens, which is why it is not very clear.

The smaller pic is a detail of one of the pairs only. I have attached a template and the indi's, if you want to play with this.

If it helps, I will describe my trading day - please note that I live in the UK/Europe and trade the London session, so much of this info may be of no use if you trade a different session. By the way, this only works after drinking TEA, not coffee -

Basically I trade...
Hi Macman

first of all thanks very much for this.
(while I am thanking people, thanks to MissPips too, for her wonderful charts..!!)
I have downloaded your indicators and set them up.
I will not comment on the coffee versus tea, but I would like to know are you English or Scottish (an important distinction for me)
Anyways....I like the filter of trade vs no trade.
I am not quite sure what your indicators mean, I suppose they are an interpretation of ADX and is the market ranging or trending?
Anyways....thank you and everyone else on this wonderful thread

Keith
  • #11,965
  • Jul 9, 2009 10:39pm Jul 9, 2009 10:39pm
Quoting caveman
Hi Cencored,

A lot went wrong here!

1. If you had drawn the trendline correctly, you will know that PA might bounce off the trendline.

2. You are scalping the 1M, why is your MTF indicators for trix and cloud on M30 and M60?

Using the MTF indicators to trade in my opinion is for advance users who understands how the trix works. It will be a lot easier to trade the manual system, understand it and then move on to the MTF indicators at a later stage with more experience.

Hope this helps.

Regards,
CaveMan
Thank you Caveman, I appreciate the reply.

Did I draw the trendline incorrectly? Please note that after the red doted vertical line, nothing was there at the time of taking the trade, this is how I drew the T/L. Was this incorrect?

I have not used the MTF indicators at all for this trade, it was purely based on the div (which counts 4 points anyway according to Miss Pips), the T/L and the trix.

Let me know what you think please.
Thanks again
Trading Makes Money!
  • #11,966
  • Jul 10, 2009 12:48am Jul 10, 2009 12:48am
As you did not mentioned any of the higher TF analysis you did, I can only comment from the chart you posted.

From my experience, for lower TF, use the last 2 pivots to draw your trend line. They provide quite an accurate guide of where PA might go. Maybe Cobra or other more experience M1 traders can comment on this. I trade on M5. Just helping to analyze for you from your chart.

If you are trading divergence, then you will be late in entry as it seems that you depended on the indicator arrow to tell you divergences. You have to draw your trendlines on both trix window and chart to detect divergence before the indicator does. Indicator will only tell you after the fact which is 2 bars later. You were 5 bars late in entry after fast trix turned green.

Quoting Cencored
Did I draw the trendline incorrectly? Please note that after the red doted vertical line, nothing was there at the time of taking the trade, this is how I drew the T/L. Was this incorrect?

I have not used the MTF indicators at all for this trade, it was purely based on the div (which counts 4 points anyway according to Miss Pips), the T/L and the trix.
  • #11,967
  • Jul 10, 2009 1:00am Jul 10, 2009 1:00am
Quoting macman
Quote:
Originally Posted by macman http://www.forexfactory.com/images/buttons/viewpost.gif
...
If it helps, I will describe my trading day - please note that I live in the UK/Europe and trade the London session, so much of this info may be of no use if you trade a different session. By the way, this only works after drinking TEA, not coffee -
...

OMG no wonder you guys can't get to grips with...

Thats funny macman
Okay ... I'll try to start my day with tea now. Let's see what's gonna happen.
  • #11,968
  • Jul 10, 2009 1:36am Jul 10, 2009 1:36am
I'm with an Ice Tea, does that count?

Remember that I'm in the tropics.

Quoting macman
By the way, this only works after drinking TEA, not coffee -
  • #11,969
  • Jul 10, 2009 3:06am Jul 10, 2009 3:06am
Here is another example of using the Rainbow to find an orderly trend in which to look for THV trades.
Attached Image (click to enlarge)
Click to Enlarge Name: another orderly rainbow.png Size: 115 KB
  • #11,970
  • Jul 10, 2009 5:48am Jul 10, 2009 5:48am
Hello to all THV traders.

I have one question for MissPips or someone else.....

How do I set MTF Trix(M5) on M1 chart?

Thanks for answer.

Regards

pipgame
  • #11,971
  • Jul 10, 2009 6:27am Jul 10, 2009 6:27am
Do you all guys use THV 5m!Work so good on 1H with me.
Of course beside my main system
Anyone else use THV with 1H here?
Thanks
  • #11,972
  • Jul 10, 2009 6:29am Jul 10, 2009 6:29am
Use the indie Cobra posted a few days ago, and set the TimeFrame param to 5

Quoting pipgame
Hello to all THV traders.

I have one question for MissPips or someone else.....

How do I set MTF Trix(M5) on M1 chart?

Thanks for answer.

Regards

pipgame
  • #11,973
  • Jul 10, 2009 7:27am Jul 10, 2009 7:27am
Quoting pgpb
Hi Macman

first of all thanks very much for this.
(while I am thanking people, thanks to MissPips too, for her wonderful charts..!!)
I have downloaded your indicators and set them up.
I will not comment on the coffee versus tea, but I would like to know are you English or Scottish (an important distinction for me)
Anyways....I like the filter of trade vs no trade.
I am not quite sure what your indicators mean, I suppose they are an interpretation of ADX and is the market ranging or trending?
Anyways....thank you and everyone else on this wonderful...
Hi Keith,

Half and half - Scots on my mother's side and English on my father's side.

Just go to love those Scots ... even the might of the Roman Empire could not keep them down. Julius Caesar took one look and then decided to build a wall ... hmmm
  • #11,974
  • Jul 10, 2009 7:29am Jul 10, 2009 7:29am
Quoting MissPips
Use the indie Cobra posted a few days ago, and set the TimeFrame param to 5

Thank you MissPips.
I didn't see this Cobra's post, missed it. Now I know, I have to be more consistent to read the thread.

Here is my first scalp whit M5 Trix..........
Nice thing.

be good
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 18 KB
  • #11,975
  • Jul 10, 2009 7:35am Jul 10, 2009 7:35am
You're welcome. Nice scalp. I have to say I kinda like the mtf trix indie even better than the trix histo, because you can see the shape of the trix. I 'm just using them to count the 6 points instead of the lights.


Quoting pipgame
Thank you MissPips.
I didn't see this Cobra's post, missed it. Now I know, I have to be more consistent to read the thread.

Here is my first scalp whit M5 Trix..........
Nice thing.

be good
  • #11,976
  • Jul 10, 2009 8:12am Jul 10, 2009 8:12am
Quoting MissPips
You're welcome. Nice scalp. I have to say I kinda like the mtf trix indie even better than the trix histo, because you can see the shape of the trix. I 'm just using them to count the 6 points instead of the lights.
I agree with you, It will help me too.

I admire your posts, knowledge, experience and also personality.

Kind regards from Slovenia to Israel.....

pipgame
  • #11,977
  • Jul 10, 2009 10:45am Jul 10, 2009 10:45am
Quoting pipgame
Here is my first scalp whit M5 Trix..........
Nice one!

Oh, and you are from Slovenia. I was there last year. Nice little country (small is beautiful). Best pizza I had in Europe was in Ljubljana (how many of you can pronounce that!).
  • #11,978
  • Jul 10, 2009 1:06pm Jul 10, 2009 1:06pm
Quoting macman
Hi Keith,

Half and half - Scots on my mother's side and English on my father's side.

Just go to love those Scots ... even the might of the Roman Empire could not keep them down. Julius Caesar took one look and then decided to build a wall ... hmmm
Same here brother. Except I ended up on the other side of the ocean. Now residing in middle America.

As for coffee vs tea....hummmm I do both but the smell of fresh ground coffee is hard to resist. It's all good though since I gave up soda years ago. Sugar, water and caffeine is just wrong.

BTW, thanks for the indicators. I'm testing them out. How do you use the ADX signals? Does a negative signal on a higher TF means no trades on lower TF's? I like the Damiani Trade/No Trade signal. I think that's helpful in weeding out the trending vs sidways action.

Much appreciated.
  • #11,979
  • Jul 10, 2009 3:24pm Jul 10, 2009 3:24pm
Quoting caveman
As you did not mentioned any of the higher TF analysis you did, I can only comment from the chart you posted.

From my experience, for lower TF, use the last 2 pivots to draw your trend line....
Great comment, I did not realize the div issue, indeed had I entered right after spotting the div, it would have paid me 10 pips. Thanks for your help Caveman, I really appreciate it.
One more thing, would you mind posting your M5 template? Do you use Miss pips MTF indi on it, and if so is it an amended strategy for M5?
Thanks again
Trading Makes Money!
  • #11,980
  • Jul 10, 2009 5:59pm Jul 10, 2009 5:59pm
Quoting markfx
Same here brother. Except I ended up on the other side of the ocean. Now residing in middle America.

As for coffee vs tea....hummmm I do both but the smell of fresh ground coffee is hard to resist. It's all good though since I gave up soda years ago. Sugar, water and caffeine is just wrong.

BTW, thanks for the indicators. I'm testing them out. How do you use the ADX signals? Does a negative signal on a higher TF means no trades on lower TF's? I like the Damiani Trade/No Trade signal. I think that's helpful in weeding out the trending vs sidways...

Beverage before Trading still continue ...

macman :
"Just go to love those Scots ... even the might of the Roman Empire could not keep them down. Julius Caesar took one look and then decided to build a wall ... hmmm"

...

pipgame :
"Kind regards from Slovenia to Israel ..."

Hi pipgame, is your country the one with 3 mountain peaks?
I have a Slovenian friend and she showed me the beautiful picture of her country with these 3 mountain peaks. Am I right?
Cheers
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