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THV system, final edition

  • #17,321
  • Jan 22, 2010 4:23am Jan 22, 2010 4:23am
Yeah but I'd be careful here because you have divergence on the 3rd peak and 1.4164 is the predicted ADR high for the day. It could still go higher but the ADR is often good for a decent retrace first especially when price is moving counter to the main trend of the last few days.




That peak is higher than the previous , and the 5m trix was lower and the 5 f trix had gone red there. Of course it carried on up anyway but there was no way to know that it would

Really? I can't spot any on M5, am I somehow looking at it wrong? (attached)


Downloaded and installed the SwissArmyHisto, will wait patiently for that setup again [/quote]
Attached Image (click to enlarge)
Click to Enlarge Name: diverg.png Size: 101 KB
  • #17,322
  • Jan 22, 2010 4:28am Jan 22, 2010 4:28am
Quoting MissPips
Yeah but I'd be careful here because you have divergence on the 3rd peak and 1.4160 is the predicted ADR high for the day.
Ah, so even though the divergence applied to the previous peak, it's a sign to watch out as it's a sign the price might have trouble travelling higher?

What is the predicted ADR high? Sorry if that's an ignorant question!

I've also attached the recent test of the coral. Rules not met as M5 spread was decreasing. Other than that, looked good? Although, as you said before, there's a lot of bearish divergence present.

Edit: Ah, for some reason your image didn't load the first time I viewed your post. Just wondering what indicator is that infopanel you're using?
Attached Image (click to enlarge)
Click to Enlarge Name: THV220110misspips4.png Size: 29 KB
  • #17,323
  • Jan 22, 2010 4:35am Jan 22, 2010 4:35am
Quoting Sailorx
Just minutes befeore your trade, there was a long signal on EURUSD also with m5 trix confirmation, about during the break of the YH; did you get it? I believe that your short trade was more risky.
There was - I didn't take it, because I see bearish div on M15, and the 23.6 daily chart fib, and my M1 T/L coincides with the 1.4150 price. I was also weary of a rejection at 1.4151, the previous attempt to break through. Many reasons to stay out, I thought.

Quoting Emp
Hi Mindsphere,

from your chart I can see that you shorted when the price is above the Coral? Isn't it against THV rules?
Yes, this was a counter-trend trade. I believe Cobra recommends to trade in the direction of the coral when starting out. Counter-trend trades are a little trickier, because if you miss your entry it's not very forgiving. I'm only aiming for very tight TP's (~10 pips). On trades on the correct side of the coral you have the opportunity to hop into trends which can take you for long pip rides

Edit: I'm posting a lot. Sorry if I'm filling up the thread too much guys. I just find it useful to dissect the trades afterwards. Hopefully other people gain from this too. If not, I'll reduce my level of posting post-trade.
  • #17,324
  • Jan 22, 2010 4:38am Jan 22, 2010 4:38am
I think it was a decent trade too.
1.4164 is the projected ADR high for the day, and it is usually good for
a decent retrace, especially when price has been hesitant and choppy - as it has been.

Aso 1.4174-1.4180 is a big sticking point just above it. That is the 127.2 fib of that fib I've been posting of the bear flag, which has been providing good bouces so far and also the 50 percent fib of the big downtrend July to November. If you look you will see lots of support /resistance there.


Quoting Sailorx
Just minutes befeore your trade, there was a long signal on EURUSD also with m5 trix confirmation, about during the break of the YH; did you get it? I believe that your short trade was more risky.
  • #17,325
  • Edited 5:29am Jan 22, 2010 4:49am | Edited 5:29am
Well, that's my rule. If there's divergence on the previous high /low I don't take the next trade up/down.

I wouldn't take those retests because of the spread in the 5m and the divergence on the last high. There's more than enough trades to go around where everything lines up - why bother with the riskier ones?

That indicator is my version of Dean Malone's ADR calculator. I coded it based on what he explained in his videos, because I wanted a few extras his doesn't have. I don't share it because he sells his and since he was kind enough to explain his calucations I don't think it's fair to share it. I think you can buy his though for about $50. I've done a lot of tracking on how price reacts to the ADR high/low and the weekly high lows based on it and they are pretty reliable target guides


Edit: See what I mean. It could still go higher but that was not the best place to get long.

Quoting Mindsphere
Ah, so even though the divergence applied to the previous peak, it's a sign to watch out as it's a sign the price might have trouble travelling higher?

What is the predicted ADR high? Sorry if that's an ignorant question!

I've also attached the recent test of the coral. Rules not met as M5 spread was decreasing. Other than that, looked good? Although, as you said before, there's a lot of bearish divergence present.

Edit: Ah, for some reason your image didn't load the first time I viewed your post. Just wondering what indicator is that infopanel...
Attached Image (click to enlarge)
Click to Enlarge Name: b3.png Size: 105 KB
  • #17,326
  • Jan 22, 2010 5:09am Jan 22, 2010 5:09am
Did you download the indicators I posted with it?, specifically
the THV T3 Trix?

Quoting Emp
Thanks Ms Pips

Tried to use type 12, but seems that it show nothing on the Histo.
Thanks for your help.
  • #17,327
  • Jan 22, 2010 7:07am Jan 22, 2010 7:07am
Hello,
Does any one know how to program a 15M coral for the 5M chart. Any and all help would be great.
Dan
Without vision, the people will perish.
  • #17,328
  • Jan 22, 2010 7:33am Jan 22, 2010 7:33am
Thanks Ms Pips, I got it done. So .... how to read it?

I understand that type 12 shows the distance between the fast and slow trix increasing or decreasing in the direction of the trade but what does it mean?

Sorry for my ignorant.



Quoting MissPips
Did you download the indicators I posted with it?, specifically
the THV T3 Trix?
  • #17,329
  • Jan 22, 2010 7:42am Jan 22, 2010 7:42am
Quoting MissPips
Well, that's my rule. If there's divergence on the previous high /low I don't take the next trade up/down.

I wouldn't take those retests because of the spread in the 5m and the divergence on the last high. There's more than enough trades to go around where everything lines up - why bother with the riskier ones?

That indicator is my version of Dean Malone's ADR calculator. I coded it based on what he explained in his videos, because I wanted a few extras his doesn't have. I don't share it because he sells his and since he was kind enough to explain...

Hi Miss Pips
can you send me your indicator for the Trix with the Macd in it. I think in this post it is the second indicator from the bottom of your chart. Is the setting changeable??? Thanks for your help and sharing if possible.
Without vision, the people will perish.
  • #17,330
  • Jan 22, 2010 8:34am Jan 22, 2010 8:34am
Hi all,

After yesterday's miserable failure I went in to the market today determined to follow the rules and trade only if the TF's are all in same direction. (well most )

Made 60 pips on 4 trades, not one failure and all because I followed the rules to the T!!!!

I'm so glad and now I can go and enjoy my weekend... except I stopped smoking today so It might be tough but this was a good boost!

Enjoy the weekend all...
@pawpaw1000 on Twitter
  • #17,331
  • Edited 11:00am Jan 22, 2010 8:47am | Edited 11:00am
Quoting MissPips
Well, technically according to the rules I posted in the thread, no it isn't, because PA is not below the MAs representing the 15m coral and 30 m coral. If you don't have PA at least below the 15m coral, you are probably looking at a retracement (though hopefully a big enough one to get 10 pips out of) and not a new trend.
Hi MissPips - I'm just reading back through your posts in order to gain from your wisdom. I'm wondering which MA's on the template represent the 15m coral and the 30m coral? I'm using the Rainbowanalysis3a template.

Perhaps if you wouldn't mind sharing your latest template that would be great - I notice you've rearranged it a bit and have changed the colours of some of the MAs to make it easier to read.

Thanks again!

Edit: Actually the MAs on my template don't seem to line up with yours. The rainbow looks quite a bit different for the same areas.

Further edit:
I've been thinking a lot about how I see the market lately, and I've kind of got the idea in my head that the path to positive expectancy is to build a case behind each and every trade that you take. That is to say, it's best if you can give a number of reasons for and against taking any one trade, and on the balance of these decide whether the positives outweigh the negatives.

In this vein, I think higher time-frame analysis has the potential to help greatly when you are scalping, as the more factors you look for, the more aware you are of what the market is reacting to. By this I mean that there are hundreds of thousands of traders out there. They are all watching different things, different time-frames and so on. What you want to do is have as many of these traders as possible on-side. You don't want to enter into a trade and realise that you're trading straight into a significant fib retrace or T/L on the monthly, daily or hourly charts. In the case where these higher time frame S&R lines agree with your pivots and 1M & 5M T/L's you've got good confluence and can look for potential trade setups.

I've just been playing around in the daily charts, drawing fibs between swings and then dropping down to the 1H, 15M or even 1M charts, and noticing that there are frequently bounces - almost right down to the pip at these levels. This sort of thing isn't always noticeable until you drop down a few time-frames. I do wonder if simply trading 38.2 and 61.8 fib bounces drawn on the dailies with extremely tight SL's and the usual THV rules (counter-trend divergence trades that is) would see positive expectancy. Actually, on that note - can anyone more experienced comment on whether certain fib levels are actually stronger than others? (i.e. 23.6 vs 38.2 vs 50 vs 61.8) What about 76.4?

For example, today we saw the most recent daliy chart swing fib retrace 23.6 at 1.4158 tested and breached by 7 pips, before reversing and going as low as 1.4087. That's not to say that the fib was the only cause for the reversal, there were other supporting factors. Nevertheless it held reasonably well and provided a good divergence counter-trend trade.

Anyway, just my musings

Even further edit:
I'm putting a lot of things together in my head, and noticed something after looking at one of your charts MissPips. You've probably already commented on this, but in this post: http://www.forexfactory.com/showpost...ostcount=14079 - I notice that all your entries seem to sync perfectly at the turn of the M5 trix waves. That is, the slope of the fast M5 trix seems to turn around, or at least the distance between the fast/slow on M5 seems to reverse at exactly your entry points, so that you are catching the first M1 Trix wave within the M5 Trix waves each time. I'm wondering if this is co-incidental, or if you actually waited for this particular phenomenon to occur before entry each time. It looks as if your entries are perfectly in tune with the harmonics of the market.
Attached Image (click to enlarge)
Click to Enlarge Name: THV220110misspips5.png Size: 155 KB
  • #17,332
  • Edited 2:37pm Jan 22, 2010 11:36am | Edited 2:37pm
Sorry guys, I didn't trade today because I was setting up Stratman's Dashboard with my setup and was fooling around with it, I finally got everything fitted onto my screen the way I wanted. I simply used "THV3 Trix for MTFHisto" indicator and I was able to get everything to fit since I can get rid of that gray area on the right. Now I'm going to start test trading and then if goes well, might simply start using less and less indicators on my chart. I will just need to get a hang of using the dashboard effectively. I also put higher time frame charts on the bottom so I can start drawing trend/support/resistance lines. I might take off some indicators to make it a bit "cleaner" but we'll see. I need to test this setup a bit.
Attached Image (click to enlarge)
Click to Enlarge Name: Chart setup.jpg Size: 223 KB
  • #17,333
  • Edited 3:05pm Jan 22, 2010 2:32pm | Edited 3:05pm
Hello

I have used only Stratman's Dashboard signals
and 10/10 profit
Attached Image (click to enlarge)
Click to Enlarge Name: chart.gif Size: 57 KB
  • #17,334
  • Jan 22, 2010 4:35pm Jan 22, 2010 4:35pm
Quoting pawpaw1000
Hi all,

After yesterday's miserable failure I went in to the market today determined to follow the rules and trade only if the TF's are all in same direction. (well most )

Made 60 pips on 4 trades, not one failure and all because I followed the rules to the T!!!!

I'm so glad and now I can go and enjoy my weekend... except I stopped smoking today so It might be tough but this was a good boost!

Enjoy the weekend all...
Which time frames ? Because I started doing something similar earlier this week and had some success.
Look at something long enough, you will eventually get it.
  • #17,335
  • Jan 22, 2010 4:56pm Jan 22, 2010 4:56pm
Quoting csino
Hello

I have used only Stratman's Dashboard signals
and 10/10 profit
Hi !

Could you please put your history account, results for that operations ?
Thank you
  • #17,336
  • Jan 22, 2010 7:23pm Jan 22, 2010 7:23pm
Quoting Emp
This is another example.

Price breakout Coral, M15 downtrend, all THV rules met...... trade entered.
However, price retraces before reaching my TP but retested and bounced off Coral to proceed with a lower low and ultimately reach my TP of 10 pips.
Hello,

Could you share your Template?

Thanks
I am Brazilian and I never give up!
  • #17,337
  • Edited 5:47am Jan 23, 2010 3:18am | Edited 5:47am
And here is what happened after PA finished its retracement from the ADR high at 1.4164, and went back up to retest it. It bounced off the aformentioned sticking point at the confluence of the two fibs. This fib in yellow is working really well as support/resistance


Quoting MissPips
I think it was a decent trade too.
1.4164 is the projected ADR high for the day, and it is usually good for
a decent retrace, especially when price has been hesitant and choppy - as it has been.

Aso 1.4174-1.4180 is a big sticking point just above it. That is the 127.2 fib of that fib I've been posting of the bear flag, which has been providing good bouces so far and also the 50 percent fib of the big downtrend July to November. If you look you will see lots of support /resistance there.
Attached Image (click to enlarge)
Click to Enlarge Name: fib.png Size: 76 KB
  • #17,338
  • Jan 23, 2010 3:32am Jan 23, 2010 3:32am
See this post

http://www.forexfactory.com/showpost...ostcount=15374

or use the THVHELPY1 that I posted.

Just change the MA period to 180 on any of those indies.
(The idea is that on the base tf chart the MA is 60. So you divide the higher tf period by the lower and multiply the result by 60. For example to go from 1 m to 5m on the 1m chart it's 5*60 =300. To go from the 5m to the 15 on the 5 m chart it's 3*60=180 for the MA period.

Quoting bythepound
Hello,
Does any one know how to program a 15M coral for the 5M chart. Any and all help would be great.
Dan
  • #17,339
  • Jan 23, 2010 3:51am Jan 23, 2010 3:51am
Notice the first red line in the attached screen shot. Notice how right after it, you have a trix cross up and everything looks set for a long trade. Both the fast and slow trix on the 1m , 5m and 15m tfs are green, price is above coral - go long right?. But now look at the pink and aquamarine histogram showing the whether the distance between the fast and slow trix is increasing or decreasing. The 5m histogram is giving you a warning that all is not well. Next look at the second red line on the chart. The 15m fast and slow trix are still green, so you might think that the longer tf trend is up. But the histogram on the 15m has already turned red, giving you an early warning.

Type 12 just incoroporates this into the MTF SwissArmyhisto, because that one updates in real time. Unfortunately the MTF histo that actually draws on the chart sometimes fails to update unless you click on it, so you need the Swiss Army histo to tell you when the one that actually shows the trix is out of sync.

Quoting Emp
Thanks Ms Pips, I got it done. So .... how to read it?

I understand that type 12 shows the distance between the fast and slow trix increasing or decreasing in the direction of the trade but what does it mean?

Sorry for my ignorant.
Attached Image (click to enlarge)
Click to Enlarge Name: mtfhisto.png Size: 112 KB
  • #17,340
  • Jan 23, 2010 4:07am Jan 23, 2010 4:07am
Ah, it's not actually mine, I just modified it to have auto tf and a histogram, and it's not actually a MACD but here it is. You the this version of THV T3 trix to go with it (because I modified it to make more params externally configurable.)
The histogram shows whether the difference between the fast and slow trix is increasing or decreasing. It's MTF and all the settings can be changed.
Setting hot to 0.7 gives you the old trix and to 1.2 the new one in V4.

Setting Autotf to true gives you one higher tf up and setting Autotf to false and autotf2 to true gives you the tf two higher tfs up. Or you can set them both to false and input any tf you want in the Timeframe param.

Quoting bythepound
Hi Miss Pips
can you send me your indicator for the Trix with the Macd in it. I think in this post it is the second indicator from the bottom of your chart. Is the setting changeable??? Thanks for your help and sharing if possible.
Attached File(s)
File Type: mq4 THV T3 Trix MTFv1.4wcolorhist.mq4   10 KB | 793 downloads
File Type: ex4 THV T3 Trix.ex4   6 KB | 638 downloads
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