THV system, final edition

haha LOL....nice sell Petar, if you're still in the trade, that one paid off !

Yes ...

Hi Johnny,

I know there are updates to the indicators that haven't been posted, but basically the ones on the front page work just fine. There are also two manuals on the front page that explain two methods of trading (regular, and MTF using the trix histo) and give all the rules for both methods, which have not changed.

I think one of the things that confuses people is that when they see "Trading sytem" they may be expecting a mechanical system, and that they can just take a trade when they get a signal. However THV is a actually a discretionary system (as opposed to, for example, a purely mechanical system like the one in a very well known web site which trades the pound based on an MA cross, a MACD signal and a stochastics signal. In that system, when you see the rules met you take the trade.) In THV, when you see a signal, what it means, as the indicator itself says is Analyze Buy" or Analyze Sell." This means exactly what it says: Before taking the trade you need to do your own analysis of whether now is an appropriate time to take the trade. (As one example: You need to check if there is some contra indication to the trade (like a pivot in the way for example, or a divergence.)

Here are some of the questions you need to answer for yourself which are not answered in either manual:

1) What will you consider a contraindication to a trade?

For example: Will you forgo trades that are too close to a pivot, or are you purely momentum based and you will take them as long as there is enough momentum. Will you trade around news time? If so/not, what kind of news events will you count/ignore? And how long will the no trade window be? Will you trade if the previous peak/low had a divergence, or will you only consider mutliple divergences to be significant. Or will you consider/ignore divergence based on market condtions (choppy/trending).

2) What will you use as the TP and the stop?

For example: Do you want to use the suggested 3 times the ATR for the stop and half the ATR for the TP, or do you want to use a fixed target like 15 pips for the stop and 10 pips for the target? Or do you want to manage the trade some other way, like getting out when the fast trix turns against you ? Or do you want to trail your stops?

3) What kind of trades to you prefer?

For exampe: Do you prefer trend trades, or contra-trend divergence trades? Or do you like a lot of action, and want to take both kinds? And if so, are you experienced enough to tell the difference between a choppy market and a strongly trending market?

4) What tf do you prefer: 1m, 5m 15m or daily.

5) What hours and how long do you want to trade every day? Will you have any rules for when to quit (for example when you hit your daily TP or have 3 losing trades in a row?).

6) Do you want to trade regular THV trades based just the coral, Ichimoku and trix cross on one timeframe or the MTF version? If you prefer MTF, do you want a broader view over many timeframes (as the histograms provide) or is the shape of the trix and where it is in relation to the zero line more important to you (as the MTF trix provides) than many timeframes? Or can you afford three monitors?


And more. It's impossible to put all these things into two small manuals, and the result of this is that each person has developed for themselves a set of answers that result in their own decisions about when to take a trade once a proper signal has been given.

Some prefer to trade trend signals that coincide with bounces at support and resistance at pivots and trendlines.

Some prefer divergence signals that coincide with bounces off pivots and trendlines or trendline breaks.

Some prefer the 1m tf while others prefer longer tfs.

Some prefer the MTF flavors, others do not.

And so on..


In addtion to that basic toolkit on the trading template, many have added their own favorite indicators to their analysis template, whether it be heatmaps and rainbows to discover trend, MTF trixes, ICCE to discover targets, or commercial indicators. Each person has worked out what set of answers is most sucessful for himself (or herself) and some have shared that. That is why there is so much different looking information in the thread.

You will notice however, that everyone has some things in common: everyone is basing their trades on the trix, and the position of PA relative to the Coral (except for divergence trades, then you can ignore the Coral.)

I guess the bottom line here is that given the same basic toolkit, each person has to work out for himself what his favorite flavor of THV is.

Thank you very much for this great post MissPips.

The basic version of V3 never changed, there are updates for example for the Trix but this is optional as the difference are only that you can get the labels moved to whatever window or corner etc. but technically they are the same.

What I shall update are the MTF indicators as there are some important improvements.

As MissPips already mentioned, many traders took the THV V3 as a base, added an indicator or two and made the system theirs as they feel comfort with the layout.

With the time we also have traders that have experience with THV trading in higher TFs as recommended at the beginning and that is also fine because THV is a MTF system and can be traded in all TF's.

Its obvius that this was a good entry


Look now ... 150 pips...


Cheers

Woo hoo, hoo, hoo! Just scored some nice pips shorting geppy's twisted sister Euro yen. One hour trix bearish and got in on a 5 minute trix cross . . . sell, sell, sell, sell! Thanks again Cobra and THV team.

And took profit right around support one.

Nice trade, that should have made your day.

One tip, if you use the MT4 chart shift option (the red arrow) you will see the trix much better.

We are sitting right on the weekly S1 in E/U, watch that level for a break or bounce

Cobraforex - thank you so much for sharing your amazing indicators. I have been having very good success with the 15 minute GPPUSD, however, I seem to be very bad at figuring out what to do after I have entered. Currently I have been placing my original stop at 20 pips and taking half of my position off at 20 pips profit. At that point I move my stop to breakeven and that seems to be where it all goes wrong. It seems that most of the time, my breakeven stop is hit and then the trade turns around and goes in the original direction. My question is, I guess, should I leave my original stop in place after I take some profit or does moving it to breakeven seem like an okay idea? I'm not complaining about taking off some profit, but it does seem that I leave a lot on the table on the second half. Any suggestions would be appreciated.

In my opinion 20 pips for a 15M TF is very low, try to set it to 10 pips SL after you TP at 20, than you still have a remaining 30 pips to play with.

Try it for a while if it works and let us know, please

Thanks for the advice, I'll keep you posted.

Anyone taking a long on eur/usd?
Reverse bull Div on H4
Regular bull Div on H1 &
Regular bull Div on M30

Any thoughts? I'm new here.

Not right now, the bounce of the weekly S1 (see my post above) was good for about 30 net pips but we might see a retest or break of that zone.

First post here. Thanks Cobra and others for a great system!
I've been using the basic system for a few weeks and it's worked wonders for my trading after 4 years of flaying around (is that a word?)

I would like to take it to the next level. After reading the first 50 pages of threads, I thought I would start at the end and work backwards. That didnt help my quest either.

I wanted to put together a new template so I could use MTF. I had typically been going back and forth between TFs looking at the THV Trend indicators. I noticed folks are using a mulitple TF indicator and thought that would be extremely useful. So I thought I would put together a new template.

I have two quick questions:
I'm using one of the templates and it loads a Ichimoku Kinko Hyo indicator. I cant seem to find it on my indicator list. Where is it magically coming from?

Also, I notice Irish is using a 2 and a 4 Cloud histo - is there a Trend histo anwhere? Or am I better using the cloud histo?

Thanks to all...
Jerry

Question one: it's a default MT4 indicator

Question two: there is no trend MTF indicator named like that, the cloud and MTF Trix show you the big picture on multiple TF's in the same chart.

Many users have multiple screens and prefere to have the basic THV V3 in several TF's instead of the MTF light, this depends on your requierements.

Update to the bulls: We are still under the DP (no secure long trade in my opinion), I'm not trading the Asian session in E/U, prefere the London session and scalping the Asian in yen pairs.

Very often you see the E/U is yen driven during this session.

Let's have a view of the E/Y chart, we have divergence on 1H with re-test of MS1 on lower TF's and an intent to break the 1H TL but still not confirmed, I look at that on the side lines till a clear trend is given.

Thanks Miss Pips for your time in answering - some excellent material there.

Could you please explain the following couple of anomalies I have though:

1) What is the purpose of (and how do you utilise it in the system) the THV3 T3 (aqua MA line on main price chart)?

2) With MTF lights, what forces a green or red light for the last 2 lights (the Ichi Cloud)? ie. Is it an upslope on the cloud forcing a green etc., as it seems difficult to see a specific 'slope' on the Ichi, to determine whether it is inferring up or down ie. a green or red light.

3) I see a subtle difference in the Coral between the original V3 and the one that Cobra just recently published ... is this just a minor MA change, or something more important?

4) You mentioned using the suggested 3xATR for SL and half the ATR for a TP ... did you actually mean half the 3xATR for TP ... meaning if the suggested 3xATR SL was 12, would the TP therefore be 6 (half of the 3xATR SL figure), or 2 (half of just the actual ATR) with this method?

Thanks, Johnny.

Could you please explain the following couple of anomalies I have though:

1) What is the purpose of (and how do you utilise it in the system) the THV3 T3 (aqua MA line on main price chart)?
I dont have an aqua line on my main price chart. I have one (LightSteelBlue) on my rainbow analysis chart. That one represents the Coral on M30. If you check you will see that whenever PA is touching that line it is touching the Coral on the M30 (more or less, it's not 100% exact because it's an extrapolation). When PA is bouncing around in the chop zone, I like for it to get above/below that line for a long/short.

2) With MTF lights, what forces a green or red light for the last 2 lights (the Ichi Cloud)? ie. Is it an upslope on the cloud forcing a green etc., as it seems difficult to see a specific 'slope' on the Ichi, to determine whether it is inferring up or down ie. a green or red light.
A light is green on the cloud histo when PA is above the cloud on the tf represented by that row and red when it is below it.

3) I see a subtle difference in the Coral between the original V3 and the one that Cobra just recently published ... is this just a minor MA change, or something more important?
You're right but I have no idea. Have to ask Cobra.

4) You mentioned using the suggested 3xATR for SL and half the ATR for a TP ... did you actually mean half the 3xATR for TP ... meaning if the suggested 3xATR SL was 12, would the TP therefore be 6 (half of the 3xATR SL figure), or 2 (half of just the actual ATR) with this method?
No I meant 3 times the suggested ATR for SL and half for TP. I don't use that but I read it back in the early pages of the thread as a suggestion. I was just giving examples there from the various methods that have been suggested in the thread.

Thanks for that MP.

The THV3 T3 places an AQUA line on the main chart. It's inputs are MA Period 8 and 'b' 0.4

So, I'm not sure how it is intended to be used and why it was coded (specifically as a THV indicator) ... guess you haven't seen it, or don't use it. I was just interested to see if there was a specific interpretation / use of this MA line in the system.