ALF/TVI - Simple, effective daytrading | Page 10 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

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

Attachments: ALF/TVI - Simple, effective daytrading
Exit Attachments

ALF/TVI - Simple, effective daytrading

  • #181
  • Mar 29, 2010 11:08am Mar 29, 2010 11:08am
Quoting ravin
Hi All, Though this may not be the right time to put a trade , i tried my 1st entry and this is my set up
Looks reasonable to me - I hope it works for you.
Old Benjamin was right
  • #182
  • Mar 29, 2010 12:30pm Mar 29, 2010 12:30pm
Quoting Lou G
Looks reasonable to me - I hope it works for you.
Only concern though is that ALF is horizontal....not much of activity so could range imho..that can kill my trade...so next time i will try when the ALF too either sloping up or down The trade is done on demo...
  • #183
  • Mar 29, 2010 7:41pm Mar 29, 2010 7:41pm
Quoting ravin
Only concern though is that ALF is horizontal....not much of activity so could range imho..that can kill my trade...so next time i will try when the ALF too either sloping up or down The trade is done on demo...
Personally, I don't like to trade after the London market closes (16:00 GMT) because of the falloff in activity unless a strong trend is in progress.
Old Benjamin was right
  • #184
  • Mar 30, 2010 10:13am Mar 30, 2010 10:13am
First of all, I want to thank Lou for putting this thread together! I love the simplicity and cleanliness of the charts. I have added a couple lines to my chart just for support and resistance. I use the Fibonacci pivots because time and time again price respects these levels, and I have added the big numbers of 100 and 50. This is my first trade using this system and I thought I would post it for review. I waited for price to break previous support @ 1.3455 +- and entered at the white line. Then I closed at the other white line @1.3423 for a profit of 31 pips because price was showing signs of stalling at support 2, and 20 pips is my daily goal. I am very happy with this trade. As I write this price has continued to go down and looks like it will test 1.3400, but I agree with Lou that we should all read "Trading in the Zone", which I am almost finished with, because I am alright with leaving some pips on the table...
Attached Image (click to enlarge)
Click to Enlarge Name: alf 3-30.jpg Size: 133 KB
  • #185
  • Mar 30, 2010 10:55am Mar 30, 2010 10:55am
Below see my trade for today - a textbook example including an exit when TVI and PA meet. Net +28 pips.
Attached Image
Old Benjamin was right
  • #186
  • Mar 30, 2010 10:58am Mar 30, 2010 10:58am
Quoting forexwolf
First of all, I want to thank Lou for putting this thread together!...
I waited until a bit later to enter but otherwise we were on the same page - nice work. I wish they could all be this obvious...
Old Benjamin was right
  • #187
  • Mar 30, 2010 11:21am Mar 30, 2010 11:21am
I wish they were all this clear too! Looks like you waited till after the news. Smart man! I was watching the GU also, and it was an ugly picture... Keep up the good work!
  • #188
  • Mar 31, 2010 9:36am Mar 31, 2010 9:36am
Hi Lou,

Congratulations on this clean and simple strategy. Will check and follow it and try to add some charts (trading only the early European hours) when I am sure enough to do so. Hope your thread will stay alive. Doubt it though, as there is not much to add. Very nice.

PBB
  • #189
  • Mar 31, 2010 10:26am Mar 31, 2010 10:26am
Quoting pbb
Hi Lou,

Congratulations on this clean and simple strategy. Will check and follow it and try to add some charts (trading only the early European hours) when I am sure enough to do so. Hope your thread will stay alive. Doubt it though, as there is not much to add. Very nice.

PBB
Thanks - it works for me and hopefully for many others.

I deeply envy those who can trade the Frankfurt open on into the London open - best place to gain some significant pips.
Old Benjamin was right
  • #190
  • Edited 12:40pm Mar 31, 2010 11:57am | Edited 12:40pm
Quoting Lou G
Thanks - it works for me and hopefully for many others.

I deeply envy those who can trade the Frankfurt open on into the London open - best place to gain some significant pips.
I trade from 7-12h Brussels (gmt+2), sometimes a little longer, but I always stop before the US figures start to come out. Those early European hours are great and from where I live I luckily still have a long day for doing things that really matter.

Thanks for posting your strategy.

PBB
  • #191
  • Mar 31, 2010 5:59pm Mar 31, 2010 5:59pm
Quoting pbb
I trade from 7-12h Brussels (gmt+2), sometimes a little longer, but I always stop before the US figures start to come out. Those early European hours are great and from where I live I luckily still have a long day for doing things that really matter.

Thanks for posting your strategy.

PBB
You're welcome.
Old Benjamin was right
  • #192
  • Mar 31, 2010 6:29pm Mar 31, 2010 6:29pm
Hi there, nice and simple... but tvi 2color is not showing up on my metatrader chart.

any help?

BB
  • #193
  • Apr 1, 2010 10:14am Apr 1, 2010 10:14am
Quoting BlueBird
Hi there, nice and simple... but tvi 2color is not showing up on my metatrader chart.

any help?

BB
You need TVI.mq4 in the yourmt4/experts/indicators folder.
Old Benjamin was right
  • #194
  • Edited 8:49am Apr 2, 2010 8:34am | Edited 8:49am
Lou G

I wish to send you greetings for this so pure and so simple system. For last 3 years I checked so many, many systems based on almost everything. And my eyes are bored as hell with complicated, hard to pure analyse systems with 9-10 and more indicators at once.
Conclusion - Holy Grail does not exist but ... we can use a fundamental rules of trading to improve our trading skills.
One system is good in trending market, one in flat trend. It is masterpiece ART to recognize the the market's behaviour, yes, I'll repeat this - ART, based on inside feelings and long experience.

This system looks interesting, so interesting that I'll join it to my own trading schemes. If I can help a bit - please try a small upgrade, very simple upgrade.

Please notice that UPTREND and DOWNTREND = TVI histogram above and below zero level.

Its only idea - nothing elese, I hope it can help just a bit

The RSI 9 with three lines at 30, 50 and 70. Below 30 is oversold (check to close short positions), above 70 overbought (check to close longs) and the 50 is a signal line - in uptrend signal to buy, in downtrend signal to sell.

Here is the picture - it's better than 1000 words

Best regards and Happy Easter,

Jarek

PS. Sorry for my english, it's not my primary language and I dont have to use it everyday (so I prefer reading than writing)
Attached Image (click to enlarge)
Click to Enlarge Name: eur-usd.gif Size: 35 KB
Audaces fortuna iuvat !
  • #195
  • Apr 2, 2010 10:13am Apr 2, 2010 10:13am
Quoting chojnak
Lou G

I wish to send you greetings for this so pure and so simple system. For last 3 years I checked so many, many systems based on almost everything. And my eyes are bored as hell with complicated, hard to pure analyse systems with 9-10 and more indicators...
Your English is fine, no problem.

Several people have mentioned the TVI/zero line - I've watched it and will continue to do so but I'm not ready to make it a rule yet. However, if it works for you, do it that way. There are very few firm rules in this approach and I think that's a good thing. Fewer rules and fewer indicators requires paying more attention to PA (which is the only indicator that really counts).
Old Benjamin was right
  • #196
  • Apr 2, 2010 10:19am Apr 2, 2010 10:19am
Hello every one!
Happy Easter To you.
I decided to try this approach on 4h tf. I looked through many pairs and it seems to work fine. If anybody likes higher TF you are welcome to try.
The Road appears under the steps of walking men...
  • #197
  • Apr 2, 2010 6:40pm Apr 2, 2010 6:40pm
I will be trying this system on the 4hr charts too. I have been studying them this week, and like what I see across the majors. Just on the GU alone you could be up 300 pips from one signal at the end of last week! Looks very promising!
  • #198
  • Apr 3, 2010 5:11am Apr 3, 2010 5:11am
Hello close neighbour Soondoock

TF H4 sounds interesiting, but in fact it's too high time frame for me, I prefer M15 scalping for 10-15-20 pips, two-three signals a day beetween 8 am and 4 pm (Im trading forex during my primary work).

H4 means high TP and high SL and many signals starts at night (by GMT +1 time), it's a bit difficulty, also the signals are very rarely. But, as Lou G said, as it works for you - its ok

Im still impressed as Laguere Filter works as support/resistant area for price action. It's very valuable.


Успіх в торгівлі

Jarek
Audaces fortuna iuvat !
  • #199
  • Apr 3, 2010 6:10am Apr 3, 2010 6:10am
Quoting chojnak
Hello close neighbour Soondoock

TF H4 sounds interesiting, but in fact it's too high time frame for me, I prefer M15 scalping for 10-15-20 pips, two-three signals a day beetween 8 am and 4 pm (Im trading forex during my primary work).

H4 means high TP and high SL and many signals starts at night (by GMT +1 time), it's a bit difficulty, also the signals are very rarely. But, as Lou G said, as it works for you - its ok

Im still impressed as Laguere Filter works as support/resistant area for price action. It's very valuable.


Успіх...
Jarek, Thanks for you kind comments. Also I hope Lou G does not mind us to talk about variations of his system. Telling the truth I had successful experience using 15m approach but also I had bad trades. I trade usually at the beginning of the European session and Price moves from up to down reverse. So I often enter position according to the rules (sometimes with confirmation on 1H) and often price go against me candle closed opposite direction and according to the rules i close my position. But system looks good. I think I just need more skills to trade it. Anyway, Lou G, can you tell GMT time you usually trade? Also Lou G, can you make a list or basic rules and optional, and i will compose them to pdf file so everyone can read and understand them.
Cheers
The Road appears under the steps of walking men...
  • #200
  • Edited 8:19am Apr 3, 2010 8:12am | Edited 8:19am
Quoting Soondoock
Jarek, Thanks for you kind comments. Also I hope Lou G does not mind us to talk about variations of his system. Telling the truth I had successful experience using 15m approach but also I had bad trades. I trade usually at the beginning of the European session and Price moves from up to down reverse. So I often enter position according to the rules (sometimes with confirmation on 1H) and often price go against me candle closed opposite direction and according to the rules i close my position. But system looks good. I think I just need more skills...
I trade from about 12:00 GMT until 16:00 GMT. This period is the last 4 hours of the London market and the first 4 hours of New York. There is almost always a tradable (and profitable) move each day during this time period. Generally speaking, the first half of any of the three markets is the time most likely to be successful.

Rules (such as they are) are very simple - trade a direction change in the TVI filtered by ALF. If TVI is moving down and PA goes below ALF, sell. Reverse for long trades. TVI nearly always changes direction before PA crosses ALF so that gives time to give PA a long look and decide if the market is actually moving or only ranging. I like to see a clear, definitive break through ALF, even if it means I get to the trade late.

If ALF is horizontal and PA is cycling around ALF, it's not a good time to trade - wait for a real move to start.

The cross of the zero line by TVI may or may not be important - several posters have mentioned this but I think the jury is still out

As with any method, you need to put in some screen time to get the "feel" of what a good trade looks like.

Timeframes are up to you but, as I said in post #1, this approach is set up for M15 to H1, maybe M5 at a stretch. I have seen no convincing evidence that it's good for scalping or interday trading.

Exits are possible when ALF and PA meet after a move, or when TVI changes direction.

The attached chart shows both a good trade and a viable exit. There is room for an aggressive entry or a conservative one - these are pretty obvious. Exits at either the intersection of ALF/PA or the TVI direction change would have been good choices.

As you can see, the "rules" are more like guidelines - this is as it should be. I hope this helps...
Attached Image
Old Benjamin was right
0 traders viewing now