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THV system, final edition

  • #12,441
  • Aug 3, 2009 12:46pm Aug 3, 2009 12:46pm
Quoting aserbfx
i'm with you, mate.
if you are not sucessfull in trading M1 or M5, then try the higher timeframes like H1 or even better H4. i started my trading carreer with M5, too. i thought that getting rich will be faster that way. that's what most traders think and that is why so many fail, imho. it took me about 4 years before i realized that the lower tf are just pain in the ass. sometimes i won, sometimes i lost. seldom at BE at the end of the day, most of the time a loss. and always stressfull as hell.
then i moved to H1 and my trades went better. nowadays...

Trendlines and knowing how to properly draw them, is an oh so important! factor in trading.

As nice as it may seem, one can not just simply trade the signals given to them by indicators.

down trends the trendline is by drawing a line from the highs--then you are looking for a clean break [and preferably a test] of this trendline, not just the PA crossing through and the candle closing on it.

up trends are opposite, with trend lines on the bottom.

Your targets after the trend is confirmed over, is that of the previous swing high/low--might have to zoomed out on the screen. then after each "wave" the next target is the 2nd previous and so on until a new trend is formed.
--- Gone --- RIP 11/27/09
  • #12,442
  • Aug 3, 2009 12:50pm Aug 3, 2009 12:50pm
Hello,
I wonder what you do, not to enter into false signals given by the Slope Indicator ...

- I use a lot of trading simulator and is true the slope indicator repaint,but is very rare,and the most important you must wait the close of the signal candle
  • #12,443
  • Aug 3, 2009 12:52pm Aug 3, 2009 12:52pm
The THV3 FFCal seems to have stopped working for me. Does anyone else have this problem? It was working yesterday but today on two machines I can not make it work, although FFCal is working on the website. Any thoughts?
  • #12,444
  • Aug 3, 2009 1:08pm Aug 3, 2009 1:08pm
Quoting gavril
Hello,
I wonder what you do, not to enter into false signals given by the Slope Indicator ...

- I use a lot of trading simulator and is true the slope indicator repaint,but is very rare,and the most important you must wait the close of the signal candle
I know you like 15m trading and have been showing charts of EG, instead of using the Trix Hist try using the MTF trix for 30 M [setting A=13, B=21]

My 15M trix [v 5 I have a=18 B=27]

Don't even consider a trade until all colors match--or if in OB/OS or clear rejection of area.
Attached Image (click to enlarge)
Click to Enlarge Name: 5.gif Size: 30 KB
--- Gone --- RIP 11/27/09
  • #12,445
  • Edited 2:56pm Aug 3, 2009 1:53pm | Edited 2:56pm
Hi McFly,

I can share what works for me. The trick is to have enough rules so that you aren't just taking every trade you see, but not so many that you cant take a trade because of analysis paralysis

First of all I only trade EURUSD half an hour after london open to london close. (usually. I actually start watching the market 2 hours before London open, and if I see a really nice trend developing during that time I will get in)

I never trade when anybody is on holiday.

I never trade half an hour before to 15m after major news.

I only trade in the direction of the trend (very important! I came to the conclusion that for me, divergence trades against the trend are more bother than they are worth)

I only place a trade when there is room for it to go 10 pips before
hitting a pivot line.

When I get my daily pips I quit trading real trades.


So the crucial thing for me is to define a trend. If I dont see one that meets my definitions I don't trade and that's that.

How do I define a trend? I use the rainbow. (The reason I use the rainbow is because it makes very clear which direction the trend is in, or it makes clear that there is no trend.)

I want to see
1) The rainbow reverse
2) 3 moderate higher highs with retracements that respect the spine of the rainbow
3) PA respecting the reversal line and the Coral
4) PA clearing the red, gold and blue MAs (representing the 5,15 and 30 coral)

Once I get this, I can take trades.

My favorite trade is a THV 6 point trade after I see this, where the Coral is lined up between the blue and green layers and PA has cleared a Pivot line. These are really very high probability trades on the Euro because once it really gets going it can't stop on a dime ( for example the last trade on the black screen.) I am posting screenshot with the trades you could have taken today that meet these condtions. (I didn't take any of them today because of the Canadian bank holiday though. I want all the players at the party when I play.However, you get this same situation day after day.)

You can see that every one of these trades (both classic THV trix crosses and 6 point trades) were winners (i.e never went 15 pips against you before giving you at least 10 pips). I have also marked the trades I would have ignored, because they were against the trend even though they met the THV classic rules. I am also posting a screenshot of a day where I didn't trade because I couldn't find an orderly trend. Mostly however, you will have one of these orderly trends every day. (Some, however, last longer than others and some days you may have to wait a while to get one.)


Quoting MCFly
You guys are really a mystery for me. I mean I'm sitting hours over hours in front of the monitor and waiting for a valid and secure set up on the 1 min and 5 min tf. I use fibs, pivots, psych levels, S&R, trendlines, higher tfs, the rainbow...to get an overview and a feel for the market and I'm still struggling strongly to go +/-0 out of the day. Most of the time I'm waiting for a good opportunity and when I want to push the trigger the move is over or news are comming. I mean I tried it the easy way. 6 lights, Irishpips set up, Wlfx idea...fail,...
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  • #12,446
  • Aug 3, 2009 2:04pm Aug 3, 2009 2:04pm
I agree with everything above. Just a quick note for ppl that are currently reading the thread.
We are still in some clear uptreds (like most of the day). Looking at the M15, most pairs are currently in a natural pullback of that uptrend. THV gives signals to sell. If you sell now, most likely you are going to get burnt as it is more likely that we are seeing a pullback rather than a reversal.
So keep on trading with the trend. Wait a while for THV to give you a buy signal again, then go long. Unless you trade the M1 I suggest not to trade against the trend (the pullbacks on the m1 can often be traded if you are good at it)

Here is a screenshot of my EG H1 analyze chart.

See how price has bounced at that resistance trendline twice already? Currently on the EG, THV gives a buy signal.
There are two clear reasons why I DEF do not take it.
1) We are in a clear downtrend
2) We are way to close to that resistance line. More likely than not, price will bounce again and keep on dropping.
Attached Image (click to enlarge)
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Trading Makes Money!
  • #12,447
  • Aug 3, 2009 2:23pm Aug 3, 2009 2:23pm
I had to shut it down. You might delete it from the indicators and then re-apply it.

Quoting Tigertron
The THV3 FFCal seems to have stopped working for me. Does anyone else have this problem? It was working yesterday but today on two machines I can not make it work, although FFCal is working on the website. Any thoughts?
Without vision, the people will perish.
  • #12,448
  • Aug 3, 2009 2:30pm Aug 3, 2009 2:30pm
Here is another one.
AU this time, it looks like the pullback is finished and pa is ready to go north again.
THV is lining up on the m15 and it looks like pa is bouncing nicely at that support trendline that I drew.
Am I going to take the signal?
Probably, but only IF pa breaks the previous top just before. This is just as important as S/R's. Double tops/bottoms can become resistance/support.
Attached Image (click to enlarge)
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Trading Makes Money!
  • #12,449
  • Aug 3, 2009 2:49pm Aug 3, 2009 2:49pm
All markets are working with Support and Resistance.

That S&R are the levels of prices a buyer wants to pay and a seller is willing to sell.

It’s called also offer and demand.

Let’s say you are a minor apple dealer, it’s early in the morning and you want to buy apples, the price is 2 $ a kilo, there are plenty of other fruits in the market with a similar price, that means the apple has competition and the market price is acceptable. The price is established since several weeks (ranging). You buy them and sell to your customers on the local market price of 2.50.

Now we are in winter season and the apple price raised to 3.50$ and few other fruits are in offer, a kilo of banana is in 4.50, you want fruits and think to pay the 3.50 because you have no better offers yet, even talking to the seller in the market half an hour he resists (isn’t willing) to give you the apples in 3 $, you walked around in the market to compare prices, some sell apples in 3.90 but your resistance to buy them is 3.50 because that’s the offer of the kind mayor fruit seller you visited before. The resistance is 3.90, the highest price in the market, because people buy them for some reason, if that seller would offer them in 4.50 $ nobody would buy them and he will lose on his biz because the apples are damaged after a while.
You walked around in the market too much time and was unsure what to buy and decide to get those apples from the first seller but unfortunately, as his price was cheap, he sold all of them.

Now you go back to the 3.90 seller and he raised the price to 4.20, short under the price of the bananas, the resistance of 3.90 $ broke as there are no other products, this mayor seller is the only one in the market who is able to sell apples and you buy them.

You lost a good opportunity to buy the apples in a good mayor market price.

You had to sell these apples in your local community in 4.70 and the expected sells haven’t been good as your competence sell in 4.00$ because the bought from the friendly mayor seller in 3.50 $, you have left half of the apples at the end of the day.

Next morning you hear that several trucks with new apples arrived in the mayor market with a price of 3.20 and you decide to sell yours quickly in 3.90$ and the very remaining lot in 3.70 $ before your competence arrives in few hours with the new product. The local support of 4.00 is broken.

The same happens in FX, we have two different buyers, speculative ones that hold their position until they are in profit or SL hit and governments and big customers which purchase goods in other countries and need to change currencies to pay the seller. This second ones also try to get the best price to change and wait for a good opportunity. One cent or less in several millions makes a huge difference for them.

How we define those good opportunities to buy and sell looking at our charts?

A chart is made out of historic price levels on relation of time.

S&R are formed by historical highs and lows, a previous support form a resistance in the future.

We want to enter and exit at these points as we can’t move the market with our low equity in relation to market makers and we need to go with the market as we can’t manipulate it.
We need to think like the market maker, when to buy cheap and sell with a good gain.

Market makers watch S&R formed by pivots, historical S&R and/or fibs, those are usually turn points of trends until they get broken.

The best bet in Day trading and Scalping is the FIRST bounce back of those S&R and sometimes we need to wait patiently until the price gets there.

The higher the time frame you are drawing your S&R, the better the probability of your trade.

A second part will follow .



Please let me know if this is helpful to understand market behavior or you say that Cobra has a loosen screw.
  • #12,450
  • Aug 3, 2009 3:42pm Aug 3, 2009 3:42pm
Since you are having trouble with the files, I would do the following:

Download the V3 zip from the first page and copy all the files to your indies folder, without adding any files or templates to your charts yet.
Restart your MT4. If all is still well proceed as follows:

Start by using the basic THV and add just the minimum files which are

The Ichimoku set to 2,3,5 with the colors for Tenkan san, Kinjan san
and ChinKou Span set to none. (The Ichimoku comes with MT4. )

The THV3 Coral

The THV3 Trix v4.01 Div.ex4.


I would suggest adding the files one by one to a completely clean chart rather than using the template that comes with THV in order to find out which one is causing the problem.

This is the setup for the basic THV and all you really need.

If all is still well, try adding the other indies like the ATR and the pivots.


Quoting bvincent
When up grade to Build 225 it crashes my MT4 platform.
If I take the THV indicators out of system I don't get a crash.
Barry
  • #12,451
  • Aug 3, 2009 3:45pm Aug 3, 2009 3:45pm
Thanks for your advice , but I have a problem with my MTF trix (m30)
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  • #12,452
  • Aug 3, 2009 3:49pm Aug 3, 2009 3:49pm
Thx for your hints and comments. I will reply tomorrow.

Good night
  • #12,453
  • Aug 3, 2009 6:04pm Aug 3, 2009 6:04pm
Quoting gavril
Thanks for your advice , but I have a problem with my MTF trix (m30)
Do you have the THV T3 Trix --this MTF call for it.

Click the paperclip in the top right corner and click "hide images" and then you'll be able to find it.
--- Gone --- RIP 11/27/09
  • #12,454
  • Aug 3, 2009 6:59pm Aug 3, 2009 6:59pm
Is anyone having problems with the THV3 FFCAL indicator?
Sorry to but in, and if you've covered this earlier please just point me at the answer.
  • #12,455
  • Aug 3, 2009 7:06pm Aug 3, 2009 7:06pm
Yes, looks like the FF server has problems with the news file, it's already reported and I guess it will be up soon.

Quoting knuckledrag
Is anyone having problems with the THV3 FFCAL indicator?
Sorry to but in, and if you've covered this earlier please just point me at the answer.
  • #12,456
  • Aug 3, 2009 7:26pm Aug 3, 2009 7:26pm
Quoting cobraforex
Yes, looks like the FF server has problems with the news file, it's already reported and I guess it will be up soon.

Thanks
  • #12,457
  • Aug 3, 2009 10:09pm Aug 3, 2009 10:09pm
Quoting cobraforex
Yes, looks like the FF server has problems with the news file, it's already reported and I guess it will be up soon.
Hey Mr. Cobra-

What's the new "This Ain't a Love Song" mean?

Life in general?

I should've gotten my free snake bite while it was available...
--- Gone --- RIP 11/27/09
  • #12,458
  • Aug 3, 2009 10:44pm Aug 3, 2009 10:44pm
Haha, I'm sorry that you missed your chance because there will be no more free snake bites as I found out that the bitten Fools are getting even more foolish.

My new slogan is directed to the ones that know that's for them.

[BTW: I would never bite friends like you]

Quoting IrishPips
Hey Mr. Cobra-

What's the new "This Ain't a Love Song" mean?

Life in general?

I should've gotten my free snake bite while it was available...
  • #12,459
  • Aug 3, 2009 10:55pm Aug 3, 2009 10:55pm
Quoting cobraforex
Yes, looks like the FF server has problems with the news file, it's already reported and I guess it will be up soon.
Pfffffffff...............and I spent hrs to figure out what suddenly happened to this indi.

Finally decided to check the forum.

Time for a tequila on the rocks then, lol.
  • #12,460
  • Aug 4, 2009 12:02am Aug 4, 2009 12:02am
Quoting cobraforex
.......
A second part will follow .
Please let me know if this is helpful to understand market behavior or you say that Cobra has a loosen screw.
wow, a lengthy post all because of a loose screw. i'd pray that u get that screw loosen frequently then.
when is part two due?
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