MTF Trix system

C a parameter in the display settings begin 3,1,1,1,0.

Sorry, I did not quite understand your question...

I use the arrows for visual aid. It is the easiest way to notice where the signal candles are The candle with arrow is the signal candle according to this setup.

EURJPY 60 15 5
TP1 = 10, TP2 = 15, Trailing stop for rest of position
Result - 10 + 15 +27 (closed manually)

SM Trix_MTF (M15 & M60) added after discussions from last few days.

A slight variation - 240,60,5 + pivot break.
I would say that pivot was the central and maybe even only important part of this trade.

Sorry for breaking the rules...

Check out what a difference there is in everybody's pivot positions.

I cannot comment on that... I understand that daily pivot depends on when the day starts and ends but a difference of 67 pips... Sounds like too much.

But no problems if these pivots work for a trader even if they differ from what others have

The time frames are 5, 15, 30, 60. I have not gone on to 240 yet as it is a different kettle of fish.

perhaps MT4 broker time used a factor

Reading through this thread there was a lot of excitement surrounding the “simplicity” and “wonder” of MTF Trix, which incidentally, appears to have died off significantly.

Is the excitement justified?

The 3 block/ 2 block signals are obviously “simple” to spot, but if you use these as your primary analytical tool you would be in trouble taking every Trix signal.

So a few filters have been included: M60 trend, M30, M15, ADR, ATR, Pivots, to name a few. Unfortunately though, even if you do manage to line all these up, their combination still wont make you a consistently profitable trader.

The missing and elusive indicator, as with most methodologies and systems, is the individual’s innate capacity to assess market structure and price action in REAL TIME . . . . . independent of any “wonderful” indicator.

Unfortunately, no one to date has been able to code for the experience obtained from 10,000 or more screen hours; (the time, research has shown, it takes most to reach “expert” status in their chosen field.) Not surprising then, MTF Trix and its filters, doesn’t do it either.

So why post this?

Firstly, I’m not against MTF Trix, the thread, those having success with it, or those testing it. I myself continue to test the methodology as I write.

My motive in writing this is probably to give myself some “perspective” on the method, I to was momentarily swept along by the indicator hype.

Hopefully this post will stimulate some constructive conversation about MTFs application in real time.

PeterE


PS hope I haven’t upset any, that’s not me intention

Thanks Trader7, I'll post my trading. I am a morning trader, morning means 20:00 GMT is my trading time. See how GJ, AU, UJ behaves in the morning.

If that is allowed to be shared at least, I do two kinds of
trades with this system.

5 15 30 60 and using the trix meter or sm trix 4col on the chart
at least 3 of the time frames must strongly agree and
the fourth time frame just has to agree, ie just the same side
of 0. Very effective for me.. quicker more profitable
trades. There are often times its the 15 or 30 that just agrees
and the rest are strong, and sometimes its the 1 hr that
just agrees, it doesn't matter for me, they all just have to
agree and 3 out of 4 strongly.

And second, in line with what Vanhook has said, I have also been
using the same setup but when the 15 min turns to strongly
agree with an already strong 1 hr, or they both change to
strongly agree the same candle.

Very effective. I personally value the strength of the trend
greatly not just side of 0 agreeement and it has made a
big difference in the enjoyment and profit of the trades
taken with such a setup.

All the best

Brian

Pivot points are calculated from yesterday's High, Low and Close prices, so they are related to how you define the starting time of a day. From your charts I can see you are using MBT which is using EDT time as the chart time. EDT is in fact GMT-4, while the chart time adopted by most brokers is GMT, GMT+1 or GMT+2. GMT, GMT+1 and GMT+2 do not have too much difference, so we can see most trader's pivots do not differ too much. While, GMT-4 has a big difference, so you got very different pivot points.
In the 24-hour-trading FX market, there are mainly two ways to define the starting time of a trading day:
1. the opening time of the Asian session i.e. Tokyo 9:00 = GMT 00:00;
2. the closing time of the North American session i.e. New York 17:00 = GMT 21:00.
The first way seems to be more widely adopted.
I see most of you are using AutoPivot, which takes data from daily chart to caculate the pivot points. This way is not very much reasonable since traders are using different chart time. Here my pivot indicator is attached, it takes data form hourly chart and you can define the starting time of a day. I also use the AutoPivot indicator, only for the weekly and monthly pivots.
In the xPivotMultiday indicator, you need to input your chart time zone correctly, otherwise you will have wrong results. And,
If you want to use the Asian session open time as the starting time of a day, set DaySeparationHourGMT=0 (suggested);
If you want to use the North American session close time as the starting time of a day, set DaySeparationHourGMT=21 (22 when the US swaps to EST).

Cheers,
xecret

very nice work xecret,
captures price well, have it on my charts already, thank you

i had wondered about broker platform times and indi construction, you've sorted it.

terrific

trix doesnt work on its own, its signals need to be filtered

the best way i know of to filter indicator signals is market structure/ price action

the chart below shows a trix signal (vertical pink line) = step 1

2] short supported by M60 and M15 histogram
3] price has closed below channel, which is also a 50% fib on a 5min chart, a fib to be respected
4] channels often at least double in range, = potential exit destination

** the best entry here in my view is tucked just under that channel, an alternative is the trix way, the 2 point rule, which ever you prefer

so, personally . . . . have not decided upon the validity of Trix, still testing

regardless, for me at least, it is imperative to frame all trades within the context of market structure and price action: highs, lows, trendlines, channels, consolidation, pivots etc

You are absolutely right in your conclusions. No system works mechanically and with any system the success or failure depends very much on trader's subjective decisions. These decisions are most often based on some combination of indicators but indicators do not trade, a trader does. That is why 95 % of traders fail, no matter how good their system is.

MTF Trix system should be taken as one of the tools that a trader might have in the toolbox. Obviously it cannot be the one and only trading strategy and certainly not something that one could make living from.

I started this thread with the only purpose to develop the system to a stage where it would work in combination with advanced trader's discretion. I think that this stage has been achieved by now. Our next task - if we want to - would be to change our experience and to refine the system.

GBPUSD

30 5

Results : 20 + 25 + 32 = 77

EURJPY

60 15 5

Results : 20 - 6 - 6 = 8

GBPJPY

60 15 5

Results : -45 -45 -45 = (-)135

GBPJPY

60 15 5

Results : 25 + 30 + 34 = 89

..............25 + 30 + 4 = 59


Total : GBPUSD + EURJPY + GBPJPY

...........77 + 8 - 135 + 89 + 59 = 98

Losing trades are part of the trading game. As long as the winning trades cover the losing trades you can smile. A lose win win situation.

+540 Pips