Thank you both for your replies. I'll be following along to see if I can grab some pips.
Barry
ALF revisited - simple, effective daytrading 1,194 replies
1min scalping using mtf ALF by bbolss 685 replies
How difficult is it to find an effective daytrading method? 156 replies
Alf Alert problem 2 replies
tvi histogram 0 replies
Dislikedoh¡¡ Sorryyyy is posible that the indicator freedombar needs the indicator Heiken:Ashi_Overlay, I send you now with a picture- If you have a problem... tell me.
You must configure freedombar in timeframe 60. Blue means up trend, red means down trend in 1hr. If freedombar is blue you must take long trades and if freedombar us red.. short trades.Ignored
DislikedSorry, was not my intention to intrude . Do not get me wrong, my intention were goodIgnored
DislikedNice and Simple Strategy Lou!
I'll devote some screen-time to it to get a feel for it. Just eye-balling reveals that best to wait for curve on ALF+ slope on TVI. Also, since you're only doing it on EU M15, just a thought you might consider opening up UC alongside as they are negetively co-related most of the time. Just to add up some pips.
Good trading to you!
CheersIgnored
DislikedI've been doing quite a bit of visual backtesting and am now not certain that the curve of ALF in the direction of PA should be an entry requirement.
I'm not ready to back off this completely, but I have said consistently that it is "best" if the curve is present rather than "must". Don't mean to waffle here, but this method is a work in progress...
Also experimenting with settings for TVI to improve its usefulness as an exit signal - 8,8,5 looks promising.
If you have interest in trading this method (and I do believe it has great potential...Ignored
DislikedFrom what I have been watching on the charts over the past week, I think more important than slope of ALF is what TVI is doing on higher timeframes. I like the histogram and have it configured with different colors for positive and negative, increasing and decreasing values. A screenshot is attached for reference. In the chart, dark blue above 0.00 is a strong indication to trade long, dark red below 0.00 is a strong indication to trade short. Light blue and light red are weak indications.
I'm an MTF trader, so this leaves me a bit biased, but...Ignored
DislikedFrom what I have been watching on the charts over the past week, I think more important than slope of ALF is what TVI is doing on higher timeframes. I like the histogram and have it configured with different colors for positive and negative, increasing and decreasing values. A screenshot is attached for reference. In the chart, dark blue above 0.00 is a strong indication to trade long, dark red below 0.00 is a strong indication to trade short. Light blue and light red are weak indications.
I'm an MTF trader, so this leaves me a bit biased, but...Ignored
DislikedI have noticed the Levels being a factor also, I like to scalp so I have been watching the 5 with just the 15m as confirmation. But just using the TVI 2 color indy, I mark the levels -.15 and +.15. When the TVI passes between(short from above, long from below) with a 15m confirm, well, I'm not missing many of those. Just caught a sweet 15 pipper on the Cable. A RSI of 8 set at 55-45 seems to match this TVI move often.
CheersIgnored
DislikedLou,
Good system.
Attached are MTF ALF and TVI indicators. Since the markets are closed, cannot verify them but looks good on charts.
On a M5 chart the ALF _240 is a good trailing stoploss or emergency stoploss while the ALF 60 provides multiple entries in the direction of the trend.
Have not tried it but seems viable.Ignored