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THV system, final edition

  • #12,541
  • Aug 5, 2009 11:09am Aug 5, 2009 11:09am
Quoting ashkan
MissPips can u explain me about rainbows?
http://www.forexfactory.com/t/40325/...-system-1.html

Read the linked blog.
  • #12,542
  • Edited 11:29am Aug 5, 2009 11:09am | Edited 11:29am
I do not trade the rainbow per se. (That has its own set of rules and you need a lot of screen time practicing to do it well.)

I use the rainbow as my analysis template to help me see whether price action is choppy or trending. before I take a THV trade.

I have decided that I prefer to trade THV trades with the trend, so I wait until I see what I have defined as trend on the rainbow before I enter a THV trade. The big problem with all the advice about trading with the trend is how do you define a trend?

I define a trend on the 1m chart as when I see

1) Three higher highs and higher lows (preferably moderately increasing with each wave, with moderate retracements - these seem to make for the best trends.) Or vice versa three lower lows and lower highs for shorts. These have to be after the rainbow has turned, and the retracements need to respect the spine of the rainbow.

2) PA respecting the coral and the reversal line.

3) All the colors of the rainbow visible (preferably with the coral lined up between the green and blue layers of the rainbow on the yellow template or the green and gold or green and blue layers on the black tempate at about the point the trade is entered. This is not a must but I have noticed this usually makes for a good trade)

4) PA having crossed the MAs representing the 5, 15 and 30m corals. (Sometimes, if there is a lot of room between the 15 and 30 m corals and I like the shape of the trend, I will get in after it has just crossed the 15m coral. That would be in periods where we are having better ranges than we have lately though)

After I see PA that meets my definition of a trend on the 1m chart, then I look for a THV regular or 6 point trade.


What trading like this actually amounts to is getting in on the first decent retracement after a THV signal has been given on the 15 or 30 tfs, depending on where you get in. So I find it more relaxing than trying to grab every signal on the 1m chart.


If you wanted to be more agressive, you could get in when you see a signal after 3 higher highs (or lower lows), all the colors visible, PA respecting the spine and the Coral and just crossing the MA representing the 5m coral.

If you like to trade divergence trades, you can wait until you see choppy price action and then trade Thv Divergence trades too -I don't but it's up to you how you use it.

If you look at my previous posts you can see my definintions of choppy and trending PA in screenshots where I think it is easier to understand than reading about it.


Quoting ashkan
MissPips can u explain me about rainbows?
  • #12,543
  • Aug 5, 2009 11:33am Aug 5, 2009 11:33am
No, 6 lights trades are my favorite trades, but they work better when the range is larger and PA is in a strong extended trend. Then they let you just keep getting back in the trend again and again, way before a regular trix cross will because you can get in when just the 1m f and 5m fast are in your favor. But when you have PA like we are having lately, regular trix crosses seem to work better. Both are good any time you have a trend though

Quoting MCFly
Okay I get it. I thought you only take trades which follow the 6 light rule. You are taking a regular thv trade if your trend conditions are meet and the 1 min trix is crossing?
  • #12,544
  • Edited 1:31pm Aug 5, 2009 11:33am | Edited 1:31pm
Greetings:

The amount of valuable information in this thread never ceases to amaze me....We, myself first and foremost, should really be grateful to the likes of Cobra, Tradewell, Misspips, Special Ed, Traderathome, Irishpips, Scrutch and a few more, sorry if I missed you...

Each of these people have gone to great lengths to explain their personal ways in which they trade THV.

We can simply use the search function and pull up their posts individually...

I have dozens and dozens of background pages opened from IrishPips and Misspips with information that I will print out and read.

This THV thread rocks!

Thank you to all of the above!
Deprive a man of everything and you give him nothing to lose.
  • #12,545
  • Aug 5, 2009 11:39am Aug 5, 2009 11:39am
Quoting MissPips
No, 6 lights trades are my favorite trades, but they work better when the range is larger and PA is in a strong extended trend. Then they let you just keep getting back in the trend again and again, way before a regular trix cross will because you can get in when just the 1m f and 5m fast are in your favor. But when you have PA like we are having lately, regular trix crosses seem to work better. Both are good any time you have a trend though

As always, excellent posting, MissPips. I too truly enjoy the 6 lights trades in a trending market. My big task at hand lately has been to learn how to recognize impending pullbacks. When you can catch those, pa often springs for an easy, quick 20 pips.

THV doesn't show these very well, except maybe with divergence? Not sure but doing a lot of studying on the matter.
Up or down, gimme a ticket
  • #12,546
  • Aug 5, 2009 11:40am Aug 5, 2009 11:40am
Don't forget to read the posts of cashmeer, he's the specialist in divergence and TL's, a must read!!!

Quoting cashmeer
Greetings:

The amount of valuable information in this thread never ceases to amaze me....We, myself first and foremost, should really be grateful to the likes of Cobra, Tradewell, Misspips, Special Ed, Traderathome, Irishpips, Scrutch and a few more, sorry if I missed you...

Each of these people have gone to great lengths to explain there personal ways in which they trade THV.

We can simply use the search function and pull up their posts individually...

I have dozens and dozens of background pages opened from IrishPips and Misspips with information...
  • #12,547
  • Edited 11:56am Aug 5, 2009 11:44am | Edited 11:56am
THV is trend trading, pullbacks are counter trend.

You can try COG as an counter trend indicator, but S&R do the job mostly, watching the 1M THV for early entry and low SL.

BTW: Today the E/U PA got strongly rejected with an hourly pinbar from 38 % Fib what gave reasons to think about a further bull trend.


Quoting SpecialEd
As always, excellent posting, MissPips. I too truly enjoy the 6 lights trades in a trending market. My big task at hand lately has been to learn how to recognize impending pullbacks. When you can catch those, pa often springs for an easy, quick 20 pips.

THV doesn't show these very well, except maybe with divergence? Not sure but doing a lot of studying on the matter.
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  • #12,548
  • Aug 5, 2009 11:50am Aug 5, 2009 11:50am
Quoting cobraforex
THV is trend trading, pullbacks are counter trend.

You can try COG as an counter trend indicator, but S&R do the job mostly, watching the 1M THV for early entry and low SL.

BTW: Today the E/U PA got strongly rejected with an hourly pinbar from 38 % Fib what gave reasons to think about a further bull trend.
Thanks Cobra.
Up or down, gimme a ticket
  • #12,549
  • Aug 5, 2009 12:24pm Aug 5, 2009 12:24pm
Well, I'm trying not to take those trades, but here's what I have noticed will usually do the trick

When I see :

1 ) Confluence of a lot of different types of support
within a small pip range

2) divergence in both the fast and slow trix

3) Divergence on the fast trix that is formed with the fast trix
above the slow trix

4) the 5m f 5m s and 15m fast have all just turned against the trend

5) The top layers of the rainbow fully decompressed

6) the Red layer with lots of space between the MAs, and then in the next wave starting to compress.

I definitely dont take any more trend trades. You might want a divergence trade when you see this.


Quoting SpecialEd
As always, excellent posting, MissPips. I too truly enjoy the 6 lights trades in a trending market. My big task at hand lately has been to learn how to recognize impending pullbacks. When you can catch those, pa often springs for an easy, quick 20 pips.

THV doesn't show these very well, except maybe with divergence? Not sure but doing a lot of studying on the matter.
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  • #12,550
  • Aug 5, 2009 1:19pm Aug 5, 2009 1:19pm
Another 30 pips ...
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"Buy on fear, sell on greed !!!
  • #12,551
  • Aug 5, 2009 1:30pm Aug 5, 2009 1:30pm
Thank you Macman, I appreciate your help!

Quoting macman
Yes, by editing the template file, but does need a little tech knowledge

See my earlier post here:
http://www.forexfactory.com/showthre...95#post2784595

Best of luck

p.s. You do not need to alter any variables, as discussed in earlier posts, just move the order of the whole window as defined by
<window>

YOUR DATA

</window>

Trading Makes Money!
  • #12,552
  • Aug 5, 2009 1:40pm Aug 5, 2009 1:40pm
I know this will be thought very elementary but I have just started reading the threads and I do not know what PA is , could someone stop laughing long enough to tell me.
  • #12,553
  • Aug 5, 2009 1:58pm Aug 5, 2009 1:58pm
PA ==> price action

Quoting fwoodley
I know this will be thought very elementary but I have just started reading the threads and I do not know what PA is , could someone stop laughing long enough to tell me.
  • #12,554
  • Aug 5, 2009 2:07pm Aug 5, 2009 2:07pm
Quoting Cencored
Thank you Macman, I appreciate your help!
No problem - if you get stuck, give me a shout as I use this technique often.

Earlier today I found a chart would not load, I remembered seeing errors from THV3FFcal last time I used it and found FFCal on the forum as a replacement - seems someone has been hacking the FF news service.

Just editing the template so that it loaded FFCal and not THV3FFcal fixed the problem.

Best of luck
  • #12,555
  • Aug 5, 2009 2:27pm Aug 5, 2009 2:27pm
It's exactly the same indicator, we didn't code that one, only added the THV3 to the name, that way you find it more easy in your indicator navigator.

All credits belongs to DirkWehler, I mentioned that some times already.

I coded an extern string for the url, in case that FF changes again to another link you only need to open the properties and change it in the parameters or hardcoding it with metaeditor (the better solution).

the alert by default is given 15 and 5 minutes before the news event.

Quoting macman
Just editing the template so that it loaded FFCal and not THV3FFcal fixed the problem.

Best of luck
Attached Image
Attached File(s)
File Type: mq4 THV3 FFCal.mq4   47 KB | 736 downloads
  • #12,556
  • Aug 5, 2009 2:53pm Aug 5, 2009 2:53pm
Learned a lot, thanks everyone above.

I want to know how many people using THV 3 with time frame higher than 5m? Thanks again.
  • #12,557
  • Aug 5, 2009 3:17pm Aug 5, 2009 3:17pm
Interesting question, maybe I should setup a poll?

Quoting life9001
Learned a lot, thanks everyone above.

I want to know how many people using THV 3 with time frame higher than 5m? Thanks again.
  • #12,558
  • Aug 5, 2009 3:20pm Aug 5, 2009 3:20pm
Quoting cobraforex
Interesting question, maybe I should setup a poll?

Good idea-- could it be more specific like a poll for each TF--like how many trade 1M, 5M 15M, 30..and so on?

Just curious
--- Gone --- RIP 11/27/09
  • #12,559
  • Aug 5, 2009 3:36pm Aug 5, 2009 3:36pm
Yep, that's the idea but I can't find a option to add a poll in my thread, I'll have to ask Twee for that.


Quoting IrishPips
Good idea-- could it be more specific like a poll for each TF--like how many trade 1M, 5M 15M, 30..and so on?

Just curious
  • #12,560
  • Aug 5, 2009 7:28pm Aug 5, 2009 7:28pm
HI, Cobra!

What kind of indicators:

Attached Image

Attached Image


Where you can download ?????

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