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ALF/TVI - Simple, effective daytrading

  • #81
  • Mar 19, 2010 9:17am Mar 19, 2010 9:17am
My first trade today.
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Old Benjamin was right
  • #82
  • Mar 19, 2010 9:20am Mar 19, 2010 9:20am
Same trade 2 hours later on the H1
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Old Benjamin was right
  • #83
  • Mar 19, 2010 9:26am Mar 19, 2010 9:26am
Thanks for the explorer bug tip I forgot about that got it with firefox no problem. So here is a chart from last night just wanting to clarify. The red line shows a candle that from what I gather would have been an ideal entry according to this method. I would put the stop at the top of the candle. Now do you plan on trying to make this an EA?
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  • #84
  • Mar 19, 2010 9:29am Mar 19, 2010 9:29am
Very nice explanation. Nice amount of pips, too.

Quoting enewbold
The TVI.mq4 and the TVI_2Color_alert_symbol_tf appear to match, except the second one has colors on the line. I overlay your TVI histogram over the TVI and get get a great visual display.

Thanks for the indicators.

Ed
  • #85
  • Mar 19, 2010 9:33am Mar 19, 2010 9:33am
Quoting enewbold
I find it very difficult to keep trading on the 15 minute charts (except for the yen pairs), so I normally stick to the hourly charts. Here's my trading on the GU (GBPUSD) H1 (hourly) chart.
Ed
Hi enewbold

just to add to your analysis. TVI its also a very fantastic tool for spotting divergence between price and TVI. this is seen in the attached picture at points A and point B

If this is combined with the pinbar and the double top or bottom then we will make some good trades

kos
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John 3:16 - From THIS love no power on earth can me sever.
  • #86
  • Mar 19, 2010 9:45am Mar 19, 2010 9:45am
Just closed the trade I posted earlier for net +38. PA is showing signs of slowing on the M15 and it's Friday, meaning that the position traders will soon be closing out for the week.

Note how ALF is homing in on PA on the H1 chart - a good sign that the trade is running out of gas.
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Old Benjamin was right
  • #87
  • Mar 19, 2010 9:47am Mar 19, 2010 9:47am
Quoting Lou G
My first trade today.
why did you wait till the green down arrow before entry why not the red down arrow?

that would have given more pips, any reason?

kos
Attached Image
John 3:16 - From THIS love no power on earth can me sever.
  • #88
  • Mar 19, 2010 9:50am Mar 19, 2010 9:50am
Quoting kodflakes
Thanks for the explorer bug tip I forgot about that got it with firefox no problem. So here is a chart from last night just wanting to clarify. The red line shows a candle that from what I gather would have been an ideal entry according to this method. I would put the stop at the top of the candle. Now do you plan on trying to make this an EA?
Good entry, either during the bar you have marked or (if you are more cautious) on the subsequent bar.

No plans for an EA - this method requires a fair amount of human reasoning which can't be programmed.

Anyone who puts in a reasonable amount of screen time with this method will quickly get the feel of it.
Old Benjamin was right
  • #89
  • Mar 19, 2010 9:52am Mar 19, 2010 9:52am
Quoting Kosomolate
Hi enewbold

just to add to your analysis. TVI its also a very fantastic tool for spotting divergence between price and TVI. this is seen in the attached picture at points A and point B

If this is combined with the pinbar and the double top or bottom then we will make some good trades

kos
nice, do you have an indi for automatic divergence detection ?
  • #90
  • Edited 10:01am Mar 19, 2010 9:53am | Edited 10:01am
Quoting Kosomolate
why did you wait till the green down arrow before entry why not the red down arrow?

that would have given more pips, any reason?

kos
I was sleeping (literally). I trade from the beginning of the NY open until the end of the London session - then my day ends. I entered at 7am CST.

I should add that it's perfectly fine to ambush trades with this approach - I do it it frequently. Check the M15/H1 TFs - if the trade looks strong, jump in.
Old Benjamin was right
  • #91
  • Mar 19, 2010 9:56am Mar 19, 2010 9:56am
i'm thinking to add a close deviation channel over ALF, then validate entries and closes when prices closed outside.
  • #92
  • Mar 19, 2010 10:09am Mar 19, 2010 10:09am
RE: my earlier trade today. As the coffee was brewing I booted up Linux and loaded the M15 chart. Saw the trade in progress but with a green bar on TVI. Changed to H1 and checked ALF - looked good, bending down nicely (not horizontal) and confirmed by TVI there. Hit ALT+s to run my sell script. Went out to do some errands. Came back at 9am and at about 9:30 decided to close out for a pretty effortless +38 pips.
Old Benjamin was right
  • #93
  • Mar 19, 2010 10:12am Mar 19, 2010 10:12am
Quoting dinofx
nice, do you have an indi for automatic divergence detection ?
No Sir, I have been doing that for so long that they are easy-spot for me

kos
John 3:16 - From THIS love no power on earth can me sever.
  • #94
  • Mar 19, 2010 10:12am Mar 19, 2010 10:12am
Quoting Lou G
RE: my earlier trade today. As the coffee was brewing I booted up Linux and loaded the M15 chart. Saw the trade in progress but with a green bar on TVI. Changed to H1 and checked ALF - looked good, bending down nicely (not horizontal) and confirmed by TVI there. Hit ALT+s to run my sell script. Went out to do some errands. Came back at 9am and at about 9:30 decided to close out for a pretty effortless +38 pips.
Many thanks for having pushed that nice system, have a great WE.
  • #95
  • Mar 19, 2010 10:21am Mar 19, 2010 10:21am
Quoting dinofx
Many thanks for having pushed that nice system, have a great WE.
You're welcome. Put in that screen time I mentioned, wait for clean, by-the-book setups (today's trade was a perfect example) and you will prosper. Probably...
Old Benjamin was right
  • #96
  • Mar 19, 2010 10:27am Mar 19, 2010 10:27am
Quoting Lou G
You're welcome. Put in that screen time I mentioned, wait for clean, by-the-book setups (today's trade was a perfect example) and you will prosper. Probably...
oh yeah i do
what i like with this system: the less the better spirit, easy to follow , easy to catch
  • #97
  • Mar 19, 2010 10:30am Mar 19, 2010 10:30am
Quoting Kosomolate
Hi enewbold

just to add to your analysis. TVI its also a very fantastic tool for spotting divergence between price and TVI. this is seen in the attached picture at points A and point B

If this is combined with the pinbar and the double top or bottom then we will make some good trades

kos
Great idea, Kos. Will start doing that with each chart from now on.
  • #98
  • Mar 19, 2010 10:38am Mar 19, 2010 10:38am
I'm glad to see some experienced traders following this thread - my original idea was to present something very simple for the less experienced but still sophisticated enough for the rest of you (and me).

If this approach is useful to you, throw a vote - that way we will draw in more of the newer traders who are basically floundering...
Old Benjamin was right
  • #99
  • Mar 19, 2010 10:41am Mar 19, 2010 10:41am
Quoting Lou G
I'm glad to see some experienced traders following this thread - my original idea was to present something very simple for the less experienced but still sophisticated enough for the rest of you (and me).

If this approach is useful to you, throw a vote - that way we will draw in more of the newer traders who are basically floundering...
OK
/ ... clarifying decisions ... /
  • #100
  • Mar 19, 2010 11:08am Mar 19, 2010 11:08am
Anybody catch this this morning? I got a few pips on the Euro, didn't do quite as good as Lou.
I told myself to check for 30m, 4hr setups but when I saw the Euro setup this morning, I jumped in, not as quick as Lou, about twenty minutes later, and just watched it.


The cable 30m turned a couple hours after the open right into a nice looking 4hr setup, quick 100 pips if you moved on it.


Cheers+good weekend
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