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THV system, final edition

  • #13,301
  • Sep 21, 2009 11:34pm Sep 21, 2009 11:34pm
My advice is not to use the advance function for the time being until you figure out money management that suits you.

Demo money management until it gives you more profit than losses. It is good that you are winning more times than you lose. So it is only money management that you need to work out.

Hint:
Most trades that go your way don't draw down much. Losing trade normally go all the way pass stop loss and beyond. I am referring to just M5 TF. That is the TF I trade also. I normally don't give much pips for breathing space. But that is my style for M5. I just accept the bad trade and wait for the next.

Quoting decidence
Anyone have any advice on how to take profit and handle losses on M5 using CaveManager?

Unfortunately I think this needs refinement, although I win a lot more then I lose, I lose a lot more when I do then what I usually take in profit when I win.
  • #13,302
  • Sep 22, 2009 12:04am Sep 22, 2009 12:04am
Quoting caveman
My advice is not to use the advance function for the time being until you figure out money management that suits you....
That's what I've been noticing so far as well. I'm gonna spend several months demo'ing this I'm sure lol...
  • #13,303
  • Sep 22, 2009 4:19am Sep 22, 2009 4:19am
Hello all,

Anyone using Windows 7?
Is it safe to install it and run Mt4 in it?

Thanks in advance.
  • #13,304
  • Sep 22, 2009 5:32am Sep 22, 2009 5:32am
I ran the release candidate for several months and have just upgraded to the retail version. It is MUCH better than Vista and I have had no problems with MT4.
  • #13,305
  • Sep 22, 2009 6:07am Sep 22, 2009 6:07am
Quoting mmoore
I ran the release candidate for several months and have just upgraded to the retail version. It is MUCH better than Vista and I have had no problems with MT4.
Great

Thanks.
  • #13,306
  • Sep 22, 2009 1:38pm Sep 22, 2009 1:38pm
Quoting cobraforex
I'm actually coding a new toy, the THV Meter.

That is a resume of many facts, like PA above coral, above cloud, HA candle green, above DP, fast Trix geen, Slow trix green, Trix crossed to positive, Trix crossed zero etc. for a long in this example (not at the chart).

Every parameter has a value which later will be divided and give an idea of the probability of a trade.

At the moment I only use similar indications (RSI, MA's etc.) as I'm still learning how to call icustom without using buffers which I don't have anymore in the Trix indi....

Yes...Yes I know I'm late and have lots to learn, just want to say a JOB done Extremely well and beyond expectations...
  • #13,307
  • Sep 22, 2009 1:49pm Sep 22, 2009 1:49pm
Quoting cobraforex
I'm actually coding a new toy, the THV Meter.

That is a resume of many facts, like PA above coral, above cloud, HA candle green, above DP, fast Trix geen, Slow trix green, Trix crossed to positive, Trix crossed zero etc. for a long in this example (not at the chart).

Every parameter has a value which later will be divided and give an idea of the probability of a trade.

At the moment I only use similar indications (RSI, MA's etc.) as I'm still learning how to call icustom without using buffers which I don't have anymore in the Trix indi....
I think when the HA candles turn from red to green AND the first or second green candle has no bottom wick, that is an excellent sign.
  • #13,308
  • Edited 3:13pm Sep 22, 2009 3:07pm | Edited 3:13pm
I increased my account (demo) by 20% last week. After this day:

Quoting stratman
This was a perfect trade for me (see picture)

I've done 54 pips over 4 trades today ... very pleased with myself

I'm stopping for the day now. Quitting while I'm ahead ... what a buzz!
I decided to stop trading for a day and analyse what I've been doing so I could write it here.

Basically, my error was trading too much! I was looking for every THV setup and trading it ... I ended up with a lot of losing trades. It got me thinking ... why wasn't THV working for me? ... after all, it works well for the THV team.

The Eureka moment was when I finally understood that you need to do analysis of PA first ... hence the THV analyse template. What an idiot I've been ... people have been talking about this before

I've also been reading a lot too:

1) Support and Resistance can be a range ie not just a line

2) Higher timeframe PA is more consistent than smaller timeframes.

3) Don't be impatient. Only trade good setups.

Simple ... yes? So ... I started looking at higher timeframes to get the big picture and then progressively smaller timeframes eg in this order D1, H4, H1, M15, M5, M1. Obviously marking up the charts on my way down.

Now, even though 'strong?' counter trends exist on lower time frames, if you can get confluence among all timeframes and use THV for you entries and exits ... you can really increase your winning average.

Because I trade the Asian session and start of London ... it's been real tough (low volume etc). But using good analysis across lot's of currencies, there are setups still occurring and THV gets you in and out beautifully.

To that end, I starting writing an 'indicator'? I don't know what to call it ... it uses MT4 chart window as a 'workspace' for multiple currencies showing multiple timeframes. I like this because it gives me the chance to see my best setup ... the pin bar.

Note this is still a work in progress ... big note is that I don't have the current bar showing yet ... so charts currently show 'previous' bars. I hope to code the current bar part today. If anyone has ever tried to do something like this, you will appreciate the challenges eg the chart window only updates based on a tick on the single currency attached to the chart. I am getting around this by having a 'while' loop inside the start() function.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 26 KB
  • #13,309
  • Sep 22, 2009 4:13pm Sep 22, 2009 4:13pm
There is a solution for overtrading: V4

I coded an additional indicator in the Trix that shows you when the rules are met on 1M with support of 5M.

This is for scalping 1M only and can get switched off.

All 4 lights have to have the same color to take a trade.

Beside of that you have to have other good reasons to trade like enough space to the next S&R or pivot.

I coded this as the THV Meter will take some time to get finished.

Q: Do you code these mini charts in the main window or a sub?

If it's possible to have it in the main window in some space can you code me one for 4H or user defined? Would be of great help, I asked Hanover about that but he has personal reasons not to do it.

BTW: V4 is waiting only for the release of T@H's new Pivot indi.

Quoting stratman
I increased my account (demo) by 20% last week. After this day:
Attached Image (click to enlarge)
Click to Enlarge Name: thv4 new.gif Size: 31 KB
  • #13,310
  • Sep 22, 2009 4:25pm Sep 22, 2009 4:25pm
Cobra, you've reminded us time and again the USD/CHF is the opposite of EUR/USD. The current charts below truely demonstrate that. Now, with such constricting trading ranges in both charts, would not one be on the alert for a nice breakout.....?
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: # 004.gif Size: 35 KB
  • #13,311
  • Sep 22, 2009 4:26pm Sep 22, 2009 4:26pm
Quoting cobraforex
Q: Do you code these mini charts in the main window or a sub?

If it's possible to have it in the main window in some space can you code me one for 4H or user defined?
Yes ... is the main window and yes would be my pleasure to code a single one for 4H or user defined. It's easy to do one of the currency that is on the chart ... can we start with that first? Other currencies require a lot more complexity as the start() function only triggers when the currency attached to the chart gets a new tick ... hope I'm making sense.
  • #13,312
  • Sep 22, 2009 4:34pm Sep 22, 2009 4:34pm
Great, I only need it for the current symbol().

Oh, please with x and y user definable.

Quoting stratman
Yes ... is the main window and yes would be my pleasure to code a single one for 4H or user defined. It's easy to do one of the currency that is on the chart ... can we start with that first? Other currencies require a lot more complexity as the start() function only triggers when the currency attached to the chart gets a new tick ... hope I'm making sense.
  • #13,313
  • Sep 22, 2009 4:44pm Sep 22, 2009 4:44pm
Quoting cobraforex
Great, I only need it for the current symbol().

Oh, please with x and y user definable.
What stratman is doing is really cool, isn't it Cobra? You were asking about having two Day candles on the chart.....well, with stratman's coding, you can have multiple, and even select different TFs! That would make a very nice separate indy for a chart!
  • #13,314
  • Sep 22, 2009 4:47pm Sep 22, 2009 4:47pm
That's a typical case for ICCE.

Yep, yesterday I gave our friend 801 a small hint on the USDCHF, hope he could cash something out of it.


Quoting traderathome
Cobra, you've reminded us time and again the USD/CHF is the opposite of EUR/USD. The current charts below truely demonstrate that. Now, with such constricting trading ranges in both charts, would not one be on the alert for a nice breakout.....?
  • #13,315
  • Sep 22, 2009 4:48pm Sep 22, 2009 4:48pm
Yes, that's what we where talking about by email, a great help and you have 6 candles (Edit:8) !!!.

Oh Strat, btw: I really would prefere candles than bars if possible.

Quoting traderathome
What stratman is doing is really cool, isn't it Cobra? You were asking about having two Day candles on the chart.....well, with stratman's coding, you can have multiple, and even select different TFs! That would make a very nice separate indy for a chart!
  • #13,316
  • Sep 22, 2009 5:27pm Sep 22, 2009 5:27pm
Quoting cobraforex
....

Oh Strat, btw: I really would prefere candles than bars if possible.
Me too.

But user-definable would be even better.

We can dream, can't we?
  • #13,317
  • Sep 22, 2009 6:37pm Sep 22, 2009 6:37pm
For those people trading divergence signals, if you take a divergence trade and shortly after you get another divergence signal in the opposite direction would you exit and open a new trade at that point or would you let your original signal ride out?
  • #13,318
  • Edited 7:51pm Sep 22, 2009 7:49pm | Edited 7:51pm
OK ... here it is.

Made it so you can add it multiple times ... customise the size, number of bars etc ... see the shot below where I added 3 charts! (Overlay on THV)

Quoting cobraforex
Oh Strat, btw: I really would prefere candles than bars if possible.
I can make candles ... but later ... I need to concentrate on my trading skills for now. As I improve as a trader, I hope to create more stuff like this.
Attached Image (click to enlarge)
Click to Enlarge Name: chart.jpg Size: 81 KB
Attached File(s)
File Type: ex4 Stratman_MiniChart_v02.ex4   14 KB | 696 downloads
  • #13,319
  • Sep 22, 2009 8:09pm Sep 22, 2009 8:09pm
Here's another shot with a bit of an explanation:

Parameter Usage:

Note: All pixel values are referenced to top-left corner of chart window

ATRBars:
Number of bars to calculate ATR (used for scaling chart)

TopLeftX, TopLeftY:
X,Y Pixel postion of top left corner of mini chart

Width:
Width of mini chart in pixels

Height:
Height of mini chart in pixels

HeadingX, HeadingY:
Heading position - pixel offset from mini chart top-left

ScaleStartY:
Scale start position - pixel offset from mini chart top-left

ATRPixelsY:
Used in conjuction with 'ATRBars' to determine graph scaling ie makes chart vertically larger or smaller

All other parmeters are self explanatory
Attached Image (click to enlarge)
Click to Enlarge Name: chart.jpg Size: 80 KB
  • #13,320
  • Sep 22, 2009 8:11pm Sep 22, 2009 8:11pm
Quoting stratman
Here's another shot with a bit of an explanation:
The scale has '.' for each pip and '-' for every 10 pips to give an idea of bar sizes. Smaller time frames have both '-' and '.'

Larger timeframes only have '-' ie every 10 pips
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