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THV system, final edition

  • #12,761
  • Aug 18, 2009 9:41am Aug 18, 2009 9:41am
For me the pivots are very important as I play the bounces of them together with divergence.

The daily pivot loses his importance when it got broken several times during a day and it gets soft as butter.

Some traders use quarter pivots but it's too much in my opinion, I'm fine until the mid pivots.

As higher your timeframe to trade as less important are the daily pivots and you better switch to weekly or monthly pivots

BTW: did you get my PM?

Quoting bythepound
Hi Folks,

These are my thoughts, what are yours?
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  • #12,762
  • Aug 18, 2009 9:54am Aug 18, 2009 9:54am
Hi Cobra,

Thanks for your insight. I did not get your PM.

Dan
Quoting cobraforex
For me the pivots are very important as I play the bounces of them together with divergence.

The daily pivot loses his importance when it got broken several times during a day and it gets soft as butter.

Some traders use quarter pivots but it's too much in my opinion, I'm fine until the mid pivots.

As higher your timeframe to trade as less important are the daily pivots and you better switch to weekly or monthly pivots

BTW: did you get my PM?
Without vision, the people will perish.
  • #12,763
  • Aug 18, 2009 10:30am Aug 18, 2009 10:30am
Hi bythepound,

It depends on how you use those pivots/fib/SR. Do you use them as warning lines telling you to be aware or action lines telling you to take certain actions. Besides pivots that can be easily calculated, fib and S/R levels are dependent on the person who draws them and is thus subjective.

Do they matter? Again it depends. Let me explain.

If there is strong momentum, pivots/fib/SR cannot hold/contain price. But momentum will always exhaust itself and then the next pivot/fib/SR comes in play and higher chance to hold/contain price.

On the contrary, if momentum is weak, any pivot/fib/SR will be able to contain price and force a price bounce or pullback.

Simplistically speaking, if you see a candle with body longer than surrounding candles, then you have momentum building up. If you see two or three of them going into a steeper slope, normally it means momentum is strong. Of course there is more to it than what I wrote here.

As traders, we need to gauge how strong a move is and not treat every pivot, S/R or fib level as a sure line where price will "respect". Again, by respect I mean price hesitating on those lines before moving again. Which direction? Who knows? Price Action comes into play. Higher highs or lower lows...etc.. You know what I mean. "Respect" does not mean a sure bounce or pullback.

Hope this helps.

Cheers,
CaveMan

Quoting bythepound
Sure, you should be aware that the pivots and fibos are there, but do they REALLY matter? How many times did the PA REALLY respect these lines? As a result of the back testing I have considered taking fibos and pivots off of my charts and just using good old fashioned, hand drawn S&R.

To me, it’s about reducing the clutter, chaos, and analysis paralysis.

These are my thoughts, what are yours?
  • #12,764
  • Aug 18, 2009 10:37am Aug 18, 2009 10:37am
As Cobra mentioned, pivots are extremely useful in the smaller tfs, 1.5, 15 etc...here on the E/J or E/Y we can see how many times the pivots were respected...

There are plenty of highly probable, profitable trades everyday...that is not the issue, the issue is waiting for them....

When I first started trading, I was trading with a tiny amount of capital, about 1/10th of what I intended and I was trading 8, 10, 14 trades a day, it was insane...it was too much...

The moment I put the real money in the account, all that changed...it was not a joke for me anymore, I take 3-4 trades a day these days sometimes 5....if I come to the PC and there is nothing that looks good, I just sit there and watch, or read a book or browse the web until the time presents itself, and it always will...

this is not necesarily directed to anyone in particular, just a general remark.

Wait for the trade to present itself.
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Deprive a man of everything and you give him nothing to lose.
  • #12,765
  • Aug 18, 2009 10:50am Aug 18, 2009 10:50am
Quoting bythepound
Hi Folks,
.......
Sure, you should be aware that the pivots and fibos are there, but do they REALLY matter? How many times did the PA REALLY respect these lines? As a result of the back testing I have considered taking fibos and pivots off of my charts and just using good old fashioned, hand drawn S&R.

To me, it’s about reducing the clutter, chaos, and analysis paralysis.

These are my thoughts, what are yours?...
Quite an interesting question, which you have the means to answer.

Why not trade for a week 'respecting' the pivots and fibos as best you can and then run the week back in the simulator without the pivots etc and see the difference.

It is possible that you will have a higher percentage of winning trades by ignoring the pivots - fibos. As others rightly say it is all about how you use the pivot/fibo information.

Let us know the outcome if you do go for this.
  • #12,766
  • Aug 18, 2009 11:24am Aug 18, 2009 11:24am
Quoting MissPips
V1 is newer. It has an autotf feature that lets
you set it to select the next higher tf or
2 tfs up so that when you change tfs on
your chart you don't have to reset it manually.
sorry to trouble, but from where i can download that V1? many thanks.
  • #12,767
  • Aug 18, 2009 12:33pm Aug 18, 2009 12:33pm
Either from the attachments (click the paperclip in the upper righthand corner) or from my post 12388 on page 826

Quoting life9001
sorry to trouble, but from where i can download that V1? many thanks.
  • #12,768
  • Aug 18, 2009 8:45pm Aug 18, 2009 8:45pm
i love the system and read most of the posts to now but I have one simple question/problem which is mechanical in nature (I still have a lot to learn about the system itself)....

When I change the colors of the THV Trend, save it to a template and then open a new chart and place the saved template, I get the default colors back. Its there a way to change this to have the newly saved colors in the saved template show when applied to a new chart? If someone has a fixed/changed version could they post it? (i really only need to change the THV Trend fixed for this use).

Thanks in advance.

s
  • #12,769
  • Aug 18, 2009 9:20pm Aug 18, 2009 9:20pm
The settings change should be reflected in the template. If not modify the mq4 file to the color you want. If its an object it will not be saved in the template.
  • #12,770
  • Aug 18, 2009 10:41pm Aug 18, 2009 10:41pm
I found my solution.

Best to all,

s
  • #12,771
  • Aug 19, 2009 3:59am Aug 19, 2009 3:59am
Thanks Miss Pips.
  • #12,772
  • Aug 19, 2009 7:01am Aug 19, 2009 7:01am
1st Trade of the day...

I think my ATC Pivots are all screwed up so I am relying on the pivots from the ODL chart, the 1 min chart.

Considerations:

1.) 5 Min trix green after being red for some time.
2.) 1 min major divergence and bounce off of MS3.
3.) Entry at break and retest of T/L...

I out with 15 pips, should have set the S/L to 0 and let it ride....but you never really know. In E/Y, from my little experience, I have noticed that it really does like to bounce between the two pivots that it is inbetween...
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Deprive a man of everything and you give him nothing to lose.
  • #12,773
  • Aug 19, 2009 8:51am Aug 19, 2009 8:51am
Quoting cashmeer
1st Trade of the day...

I think my ATC Pivots are all screwed up so I am relying on the pivots from the ODL chart, the 1 min chart.

Considerations:

1.) 5 Min trix green after being red for some time.
2.) 1 min major divergence and bounce off of MS3.
3.) Entry at break and retest of T/L...

I out with 15 pips, should have set the S/L to 0 and let it ride....but you never really know. In E/Y, from my little experience, I have noticed that it really does like to bounce between the two pivots that it is inbetween...

With THW sistem in e/y i have much bether result then e/u, in 5M and H4 chart.
i install THW3SpredandRange in chart is very useful.
daily average in e/y 210 pip til now
daily average in e/u 123 pip til now
  • #12,774
  • Aug 19, 2009 8:55am Aug 19, 2009 8:55am
Gang – thanks for the reply about pivots and Fibonacci lines.

Caveman, in support of what you said I did go back and found that momentum will cause PA not to respect pivots and fibo lines as much. My wife has been telling me this for months – but I stubbornly ignored such an obvious observation on her part.

Momentum seems to be the biggest trump card to pivots and fibos. I show several trades from today that seem to support this. I must say that this is not always the case though – but it does happen more often than not!

You will see 3 trades:

Trade #1 - 9:40 PM EST: Low momentum fails to push PA up - evidenced by the M30 and M60 Trix. PA action stopped at daily high on fibo – 1.4153 and R1 – 1.4158. This trade yields little pips.

Trade#2# 10:25 EST: High momentum easily pushes PA down - evidenced by the M15, M30, and M60 Trix. PA seems to glide through most of the pivots and fibo lines before losing steam. Easy pips here.

Trade#3 - 4:00 am EST: Medium momentum evidence by the M15 and M30, but weakness in the M60. Pretty easy glide through several pivots and fibo lines – but do not expect as many pips unless the M60 is adding to the momentum - also more caution with the DP and important fibo lines.

After looking at this, the easiest trades (those that did not seem to be blocked by fibo lines and pivots) were those that had a lot of momentum behind them – where the M5 (at least), M15, M30, and M60 were all crossed and going in the same direction. More momentum means that roadblocks (fibos and pivots) don’t have as much significance.

Thanks
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Without vision, the people will perish.
  • #12,775
  • Aug 19, 2009 9:44am Aug 19, 2009 9:44am
Your explanation on post 12538 gave me a light bulb moment. Many times I have missed trades because I was not taking a regular 1 minute trix cross if the 5 fast was not lit in my favor. It makes me feel stupid that it took me this long to figure it out. The 1 minute rainbow/mtf has been nice this morning. Thanks for the explanation.

Quoting MissPips
Either from the attachments (click the paperclip in the upper righthand corner) or from my post 12388 on page 826
  • #12,776
  • Aug 19, 2009 10:41am Aug 19, 2009 10:41am
Quoting forxc
With THW sistem in e/y i have much bether result then e/u, in 5M and H4 chart.
i install THW3SpredandRange in chart is very useful.
daily average in e/y 210 pip til now
daily average in e/u 123 pip til now
On the other hand you need smaller stops for eurusd and therefore you can take higher position sizes
  • #12,777
  • Aug 19, 2009 10:54am Aug 19, 2009 10:54am
Hey bythepound,

Quoting bythepound
Caveman, in support of what you said I did go back and found that momentum will cause PA not to respect pivots and fibo lines as much. My wife has been telling me this for months – but I stubbornly ignored such an obvious observation on her part.
Yap. Woman tend to see things in simpler terms. Us Man on the other hand tend to make things too complicated for ourselves .... lol ..

Quoting bythepound
Trade#2# 10:25 EST: High momentum easily pushes PA down - evidenced by the M15, M30, and M60 Trix. PA seems to glide through most of the pivots and fibo lines before losing steam. Easy pips here.
You got it! Momentum is not an easy concept to understand. Glad you did.

What more do you see from your chart? Looking at the MTF Trixes from left to right, you will noticed that,

1. Smaller TF builds the higher TF in cycles
2. Pullback or I should say bounce in this case is seen on M5 and M15 Trix AND entry on pullbacks/bounce will get you in with a better price point.
3. You should be expecting a reversal based on higher daily TF analysis and trying to catch it with THV. That is what it looks like. When M60 trix confirms, then you should looking for entries.

This is what you need to see when looking at the charts with the MTF trixes.

Cheers,
CaveMan
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  • #12,778
  • Aug 19, 2009 4:09pm Aug 19, 2009 4:09pm
Quoting bythepound
After looking at this, the easiest trades (those that did not seem to be blocked by fibo lines and pivots) were those that had a lot of momentum behind them – where the M5 (at least), M15, M30, and M60 were all crossed and going in the same direction. More momentum means that roadblocks (fibos and pivots) don’t have as much significance.

Thanks
what is the name of the indi that displays trix of a higher TF on the chart ?
  • #12,779
  • Edited 4:38pm Aug 19, 2009 4:27pm | Edited 4:38pm
Quoting bythepound
Gang – thanks for the reply about pivots and Fibonacci lines.

Caveman, in support of what you said I did go back and found that momentum will cause PA not to respect pivots and fibo lines as much. My wife has been telling me this for months – but I stubbornly ignored such an obvious observation on her part.

[font=Calibri][size=3]Momentum seems to be the biggest trump card to pivots and fibos. I show several trades from today that seem to support this. I must...
You may find that by switching on the Volumes indicator on your charts (just press Ctrl+L) you will get a better picture of momentum. Volume is a major part of momentum.

Best of luck ...
  • #12,780
  • Edited 9:00pm Aug 19, 2009 8:03pm | Edited 9:00pm
just thinking the bounce off of the 50% fib, the long candle stick showing weakness and divergence on the 4hrly might show some bullishness...

No major news coming up... I might take a leap...if I can find the right entry...

anyone else have any thoughts? Am I losing my mind?!

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ADD: well...it went up about 40 pips...if it cannot break the 38.2 we'll have a good idea...good pips on the E/U as well... a bounce at 61.8 fibs yeilded 35-40 pips as well....too bad I didn't use standard lots !!
Deprive a man of everything and you give him nothing to lose.
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