THV system, final edition | Page 852 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

THV System Trades & Patterns Thread 857 replies

THV 4 system with SAH; My Trading Journal 163 replies

Bow's trading journal (THV, Hmaoui simple system) 4 replies

My Journal - Based on THV V3.0 by Cobraforex 30 replies

the vouchers - THV System 2 replies

Attachments: THV system, final edition
Exit Attachments

THV system, final edition

  • #17,021
  • Jan 14, 2010 11:05pm Jan 14, 2010 11:05pm
Quoting Burton
Also, if your broker's server time is not GMT +0, then you'll need to change both pivot indicator's "HrsServerTzFromGMT" value to the GMT time your broker is based out of. As for "HrsChoiceTzFromGMT" setting, I don't know actually what that is asking for, so I leave it at...
Ah... so... if my GMT time zone is -6, I should put -6 there?

Thanks for helping me clear this out.
  • #17,022
  • Jan 15, 2010 12:25am Jan 15, 2010 12:25am
Quoting Nobitacu
Ah... so... if my GMT time zone is -6, I should put -6 there?

Thanks for helping me clear this out.
Originally Posted by traderathome http://cdn.forexfactory.com/images/buttons/viewpost.gif
Say, I notice the template preview shows GMT+0, whereas during DST the London Tz is GMT+1. I thought you preferred to set pivot calcs to Midnight to Midnight London time, which would be GMT+1 until we go off DST.




Quoting cobraforex
nope, I always have it in zero, GMT, Deutsche Bank is GMT and the biggest trader in Europe (better let's say worldwide).

ODL is GMT.
Another way to do it is just keep it on 0 GMT 'cause some of the biggest brokers are 0 GMT, so no need to worry about DST

Cheers
  • #17,023
  • Jan 15, 2010 12:26am Jan 15, 2010 12:26am
Quoting Nobitacu
Ah... so... if my GMT time zone is -6, I should put -6 there?

Thanks for helping me clear this out.
Hi Nobitacu,
Burton has pointed in the right direction for the setting for "HrsServerTzFromGMT" which is basically the number of hrs difference between your brokers server and GMT.

The setting for "HrsChoiceTzFromGMT" will depend upon what you consider as close of the day for calculations of pivot points. As many brokers consider close of NY as the close of the Forex Trading day, then it should be set to -5 as NY is 5 hrs behind GMT. Incase, NY has daylight saving time also then this setting has to be adjusted accordingly.

I read somewhere that some Traders who are active in the Asian markets change the settings to suit close of Tokyo.

Trust above clarifies
Cheers
  • #17,024
  • Jan 15, 2010 12:32am Jan 15, 2010 12:32am
Hi Guys & gals,
I entered Short on the EU Trade as per 4MTF rules. I entered on 1M chart basis backed by 5M chart. On hindsight I think I may have broken the 4MTF rules by not ensuring that the PA was below the cloud in the 5M chart. Is this necessary?

Within 5 mins my SL was triggered due to a sudden spike even though there was no news release.
Did anyone get caught by this spike? What could be he reason for this spike??

Enter 1.4412
TP 1.4402
SL 1.4437

Would appreciate if others can comment on the above Trade

Cheers
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EU 1M.PNG Size: 53 KB
Click to Enlarge Name: EU 5M.PNG Size: 46 KB
  • #17,025
  • Jan 15, 2010 12:47am Jan 15, 2010 12:47am
Quoting novice198
Hi Nobitacu,
Burton has pointed in the right direction for the setting for "HrsServerTzFromGMT" which is basically the number of hrs difference between your brokers server and GMT.

The setting for "HrsChoiceTzFromGMT" will depend upon what you consider as close of the day for calculations of pivot points. As many brokers consider close of NY as the close of the Forex Trading day, then it should be set to -5 as NY is 5 hrs behind GMT. Incase, NY has daylight saving time also then this setting has to be adjusted accordingly.

I read somewhere...
LOL, damn, getting more confusing than it already is. I'm not even sure what IBFX would consider to be close of the Forex Trading day, I guess I'll just leave it at 0 for now since that's also what Cobra prefers.
  • #17,026
  • Jan 15, 2010 12:48am Jan 15, 2010 12:48am
Dear Misspips,

I have some quick question

Was your 6 light originally intended for rare - but, statistically viable pattern,
where trend is solid, price pulling back beyond coral and then re-enter in the direction of the prevailing trend?

Thanks for ur time
Cheers
  • #17,027
  • Jan 15, 2010 12:55am Jan 15, 2010 12:55am
Quoting MissPips
1) Actually that template is not my template and I don't use it. The correct configuration for the 6 point method, if you are using it is
1m f trix
5m f trix
5m s trix
15m f trix

the second histo to
15m s trix
30m f trix
30m s trix
60m f trix

Cloud 5,15

You may, however, configure the Swissarmy histo in any configuration you like.

2)Classic mode is when the fast trix is above/below the slow, fast trix is above or below zero and is still green or red for a long or short trade respectively.
Hi MissPips,
Thanks for the detailed explanation. I will stick to the 6 point method and configure the SwissArmyHisto accordingly.

Really appreciate your patience while explaining to newbies like us.
Cheers
  • #17,028
  • Jan 15, 2010 12:55am Jan 15, 2010 12:55am
Quoting novice198
Hi Guys & gals,
I entered Short on the EU Trade as per 4MTF rules. I entered on 1M chart basis backed by 5M chart. On hindsight I think I may have broken the 4MTF rules by not ensuring that the PA was below the cloud in the 5M chart. Is this necessary?

Within 5 mins my SL was triggered due to a sudden spike even though there was no news release.
Did anyone get caught by this spike? What could be he reason for this spike??

Enter 1.4412
TP 1.4402
SL 1.4437

Would appreciate if others can comment on the above Trade

Cheers
Forex doesn't need a news release to spike 30+ points , kinda like it's doing as I'm typing this! Not being a lite system trader myself, but although you got 7 outa 10 red ones, two of the greens are the 15 and 30 fast, a no-no to my way of thinking.

Cheers
  • #17,029
  • Jan 15, 2010 1:18am Jan 15, 2010 1:18am
Hey Nobitacu, change your shift?

Sweet lil move on the Yen while I was watching the Euro bounce around like a toad

Cheers All
  • #17,030
  • Edited 3:23am Jan 15, 2010 2:07am | Edited 3:23am
First, no system has 100% hit rate even if you follow it perfectly.

Second, the hours this system was tested for were one hour before German open to London close, because we need some good volume for it to work. This trade is outside those hours.

Third, even though it seems to you like this should be a purely mechanical approach it is not. Your results will be determined by how well you pay attention to where you are. If you are at a major support resistance, there will be choppiness. You can usually see this support as divergence in the 1m or 5m trix if you are paying attention (even if you don't know what's causing it), and therefore you should not trade when there is divergence in your tf or the next higher one. You need to wait to see if that support is broken first.
Attached Image (click to enlarge)
Click to Enlarge Name: divergence.png Size: 97 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 50 fib.png Size: 65 KB


Fourth, another aspect of paying attention to where you are is paying attention to the daily range. We are now in a narrow up channel that is part a bear flag on the daily chart. The daily range has been about 90 to 100 pips lately. The market had already done that range when you took that trade.
Attached Image (click to enlarge)
Click to Enlarge Name: bear.png Size: 61 KB


Lastly, you entered the trade a couple of bars late (even though you would have been stopped out anyway.

In summary ,it is not a high probability trade to take when the market is at the end of its range and at major support, shows divergence, and the trade is outside of main market hours that might drive it farther down.

Edit - now we are here. See how the London open provided volatility so that market went down to the next fib level and how it respected the next fib level once it broke support near the previous one? (I personally didn't trade that. When the market is too near the end of it's usual range I stay out until it either reverses or gives a good pull back.
Attached Image (click to enlarge)
Click to Enlarge Name: fib up.png Size: 60 KB



Quoting novice198
Hi Guys & gals,
I entered Short on the EU Trade as per 4MTF rules. I entered on 1M chart basis backed by 5M chart. On hindsight I think I may have broken the 4MTF rules by not ensuring that the PA was below the cloud in the 5M chart. Is this necessary?

Within 5 mins my SL was triggered due to a sudden spike even though there was no news release.
Did anyone get caught by this spike? What could be he reason for this spike??

Enter 1.4412
TP 1.4402
SL 1.4437

Would appreciate if others can comment on the above Trade

Cheers
  • #17,031
  • Jan 15, 2010 2:23am Jan 15, 2010 2:23am
+10 pips on E/U follow Nobitacu ruels. I think I will stay with your old screen Nobitacu. It's better see trix like chart not bar for me, because I use 1, 5 fast, and 15 fast trix confirmations to enter on 1 min chart.
Attached Image (click to enlarge)
Click to Enlarge Name: as3.gif Size: 25 KB
  • #17,032
  • Edited 3:00am Jan 15, 2010 2:35am | Edited 3:00am
Precisely. The pullback doesn't have to be beyond the coral though. Just a pull back where the fast trix has changed color against the trend, and then changed back to with the trend but not crossed again yet.

This is not that rare though, as you can see from below. (Some of my documentation from the past few days.)
Red - good 6 pt short entries (regular or divergence based)
Green - good 6 pt long entries (regular or divergence based)
Black - failed entries (stopped out before 10 pips)
Purple - don't like the looks
Gold - exit due to divergence appearing
Yellow - not relevant due to previous entry
Blue - my understanding of Nobitacu entries
Thistle - failures based on my understanding of Nobitacu entries.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.png Size: 87 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 2.png Size: 104 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 3.png Size: 91 KB

Did i take all these? No. Only some. I also base my choices on how the rainbow looks.

Here's one I did take.
Attached Image (click to enlarge)
Click to Enlarge Name: 4.png Size: 110 KB

Quoting luxeave
Dear Misspips,

I have some quick question

Was your 6 light originally intended for rare - but, statistically viable pattern,
where trend is solid, price pulling back beyond coral and then re-enter in the direction of the prevailing trend?

Thanks for ur time
Cheers
  • #17,033
  • Jan 15, 2010 3:48am Jan 15, 2010 3:48am
You're welcome!

Quoting novice198
Hi MissPips,
Thanks for the detailed explanation. I will stick to the 6 point method and configure the SwissArmyHisto accordingly.

Really appreciate your patience while explaining to newbies like us.
Cheers
  • #17,034
  • Jan 15, 2010 3:50am Jan 15, 2010 3:50am
Thanks Miss pips for the rainbow charts and info

“Success has nothing to do with what you gain in life or accomplish yourself. It's what you do for others.” and you miss pips have done a lot..

Marcus
  • #17,035
  • Jan 15, 2010 4:51am Jan 15, 2010 4:51am
Hi Ms Pips

Apologies.

My 3rd row lights "m5 coral" is always showing green, even though it is not. Have I set the parameters wrongly?

Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd.jpg Size: 105 KB
  • #17,036
  • Jan 15, 2010 4:53am Jan 15, 2010 4:53am
Quoting MissPips
First, no system has 100% hit rate even if you follow it perfectly.

Second, the hours this system was tested for were one hour before German open to London close, because we need some good volume for it to work. This trade is outside those hours.

Third, even though it seems to you like this should be a purely mechanical approach it is not. Your results will be determined by how well you pay attention to where you are. If you are at a major support resistance, there will be choppiness. You can usually see this support as divergence in the 1m...
Hi MissPips,
1) Agreed that no system is 100% accurate and this is not a mechanical system
2) Will observe the daily range as well as the market hours for future Trades
3) When I entered short at 1.4412 the support of YL 1.4406 was tested earlier but not broken. Therefore, you advise that I should let the support get pierced before entering short provided all conditions are met.
4) As regarding Divergence I totally forgot about same. However, looking back I do not see any divergence on 1M tf. On the 5M tf I see a red arrow. Is this supposed to be the Hidden (bearish) divergence as drawn be me. Even though it is a trend continuation indicator, but by your rules I should not have taken any trade whether Long or short immediately after this divergence. Do green arrows mean Bullish divergence.

I surely need some more guidance as I just got burnt on another trade with SL being hit.

Cheers
Attached Image (click to enlarge)
Click to Enlarge Name: EU 1M_BEARISH DIVERGENCE.PNG Size: 43 KB
  • #17,037
  • Jan 15, 2010 5:11am Jan 15, 2010 5:11am
Did you download the THVHelpY1 indie that I posted with the SwissArmy indie and put it in your indies folder?

Quoting Emp
Hi Ms Pips

Apologies.

My 3rd row lights "m5 coral" is always showing green, even though it is not. Have I set the parameters wrongly?

Thanks.
  • #17,038
  • Edited 7:30am Jan 15, 2010 5:25am | Edited 7:30am
Re 3: The best entries are either after support is broken and retested from below (example in the fourth screenshot in post 17032 resistance broken and retested from above), or after it has been tested once, bounced up in a nice arc, and you get a signal just at the top of the arc that it is starting down for a retest, assuming there are 8-10 pips of room there for the trade.
4. Have another look at the screen shot. The red line is where you took the trade that you asked about this morning. It is important to pay attention to divergence because it is telling you where resistance/support is even if you haven't see what is causing it for your self. If you were going to take that trade the best place was about 635 where prior support turned into resistance and caused downward divergence on the peak just before you entered. But I still wouldnt have done it because you can see the higher tf positive divergence even on the 1m chart, and when you have 2 conflicting divergences, it usually means a choppy market and best to stay out.
Attached Image (click to enlarge)
Click to Enlarge Name: divergence.png Size: 107 KB


edit added 5m chart
Attached Image (click to enlarge)
Click to Enlarge Name: 5m div.png Size: 47 KB


What you need is not guidance. What you need is to read the thread (ALL of it) and to accummulate a lot of screen time with demo money. I, for example after I do my daily or weekly pips, do demo trades just for the experience.

Quoting novice198
Hi MissPips,
1) Agreed that no system is 100% accurate and this is not a mechanical system
2) Will observe the daily range as well as the market hours for future Trades
3) When I entered short at 1.4412 the support of YL 1.4406 was tested earlier but not broken. Therefore, you advise that I should let the support get pierced before entering short provided all conditions are met.
4) As regarding Divergence I totally forgot about same. However, looking back I do not see any divergence on 1M tf. On the 5M tf I see a red arrow. Is this supposed...
  • #17,039
  • Jan 15, 2010 5:52am Jan 15, 2010 5:52am
Hi all

My Chart

THV basic pipware+Laguerre Rsi+IN10TION=99,99% win!!!

thank them!!!!!!

csino
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 60 KB
  • #17,040
  • Jan 15, 2010 5:55am Jan 15, 2010 5:55am
Quoting MissPips
Did you download the THVHelpY1 indie that I posted with the SwissArmy indie and put it in your indies folder?
Yes I did Ms Pips, restarted MT4, but still showing green all the time.
2 traders viewing now