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ALF/TVI - Simple, effective daytrading

  • #201
  • Edited 8:37am Apr 3, 2010 8:32am | Edited 8:37am
Quoting chojnak
Im still impressed as Laguere Filter works as support/resistant area for price action. It's very valuable.


Успіх в торгівлі

Jarek

I'm still astounded by it too - perhaps the most useful indicator I've seen.

Most of the indicators we use for Forex were developed for Equity trading and are not suitable for Forex without a great deal of tinkering - John Ehlers is primarily oriented toward Futures trading and his indicators work well without a lot of adjustment.

Actually, it's possible to trade based only on ALF. I came very close to starting this thread with only one indicator but decided to add TVI for a little extra clarification.
Old Benjamin was right
  • #202
  • Apr 3, 2010 9:14am Apr 3, 2010 9:14am
I deeply appreciate Soondoock's offer to create a PDF for the ALF/TVI trading rules. I feel that I have not been responsive enough to his request for rules and I've responded to many specific questions (RE: stoploss and other things) by talking about "feel" for the trade. Many less-experienced are probably saying "but what do I do if I have no feel..."?

The answer is, proceed carefully, don't overtrade, and the feel will come with time.

I seldom place more than one trade during my trading window and sometimes none at all. I use a fixed 20 pip stop. In the three weeks of this thread I've placed 14 trades with 12 wins and 2 losses. Only one of the losses went all the way to my stop - the other lost 14 pips. Average pips for the winning trades is probably around +15 to +20.

Some things about trading just can't be condensed down to fixed rules. I wish it was otherwise...
Old Benjamin was right
  • #203
  • Apr 3, 2010 9:23am Apr 3, 2010 9:23am
Thanks for clarification Lou G,
Please check my comments on you pic. It that correct?
Attached Image
The Road appears under the steps of walking men...
  • #204
  • Apr 3, 2010 9:36am Apr 3, 2010 9:36am
Quoting Soondoock
Thanks for clarification Lou G,
Please check my comments on you pic. It that correct?
Attachment
Exactly - don't trade when ALF is flat and bisecting PA. If you entered at the open of the bar following the NFP news release and exited at the intersection of ALF/PA (or at the TVI direction change) you would have profited by 20+ pips - who could ask for more?
Old Benjamin was right
  • #205
  • Apr 3, 2010 9:44am Apr 3, 2010 9:44am
Another example (from Thursday, 4/1/10).
Attached Image
Old Benjamin was right
  • #206
  • Edited 10:29am Apr 3, 2010 10:25am | Edited 10:29am
Quoting Lou G
Another example (from Thursday, 4/1/10).
Nice,
I ve made a raw variant of PDF. Check it please. We can add anything to it. more pics will be good not only with good but also with bad trades.
Attached File(s)
File Type: pdf ALFBasics.pdf   704 KB | 2,546 downloads
The Road appears under the steps of walking men...
  • #207
  • Apr 3, 2010 10:35am Apr 3, 2010 10:35am
Try this experiment in pattern recognition:

Open A M15 bar chart and compress so that you can see several days.

Add ALF

Notice the places where PA appears to "peel away" from ALF and ALF begins to follow PA. These are the spots to look for.

This experiment is actually how I first got the idea for ALF/TVI. Obviously, each and every one of these "peel away" spots does not result in large profits but many do.
Old Benjamin was right
  • #208
  • Apr 3, 2010 11:09am Apr 3, 2010 11:09am
I wish to have ALF with two coloured line as moving average: green for ALF going up and red for ALF going down. This can be helpfull. Unfortunately, im not programmer and I cant improve the ALF's mql code
Audaces fortuna iuvat !
  • #209
  • Apr 3, 2010 1:51pm Apr 3, 2010 1:51pm
chojnak,
Interesting thought there...
but what color would be best color for when the ALF is flat?
I'm not so sure a two color ALF would actually help as PA is the key to this setup.
Just a thought.
Cliff

Quoting chojnak
I wish to have ALF with two colored line as moving average: green for ALF going up and red for ALF going down. This can be helpfully. Unfortunately, im not programmer and I cant improve the ALF's mql code
I get exercise just pushing my luck
  • #210
  • Apr 4, 2010 9:06am Apr 4, 2010 9:06am
I've changed the recommendation for TVI settings from the default (12, 12, 5) to 8, 8, 5. Also added an update to post #1.

Slightly faster response with no bad side effects that I can see. Needless to say, if you are content with the default settings (or any other settings) continue to use what works for you.
Old Benjamin was right
  • #211
  • Apr 4, 2010 6:27pm Apr 4, 2010 6:27pm
Lou , I also tried the 12 12 5 TVI setting over the past week along with 8 8 5 and found much better results with the 8 8 5. I also realized I had much better results on a 30tf to h4 tf than any other. i may be wrong but i think during high news week (such as last week) the lower TF have too much noise in them. We will keep playing with it this week and see what happens.
  • #212
  • Apr 5, 2010 9:26am Apr 5, 2010 9:26am
Hello every one.
here is my 15 pips for today.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.gif Size: 21 KB


Cheers
The Road appears under the steps of walking men...
  • #213
  • Apr 5, 2010 9:58am Apr 5, 2010 9:58am
Quoting Soondoock
Hello every one.
here is my 15 pips for today.
Attachment

Cheers
I was unable to trade this morning (circumstances beyond my control) but this is a good example of what could have been done.

Nice quick profit of 15-30 depending on your entry point. Good trading, my friend...
Old Benjamin was right
  • #214
  • Apr 5, 2010 10:02am Apr 5, 2010 10:02am
SOONDOCK I see you took the trade when TLV Histogram BAR going up above the line . Do you consistently trade this way or regardless if the bar is green and below or above the line. I know LOU dont see it as important cause you can still BUY that way .
  • #215
  • Apr 5, 2010 5:17pm Apr 5, 2010 5:17pm
Quoting wapminnin
SOONDOCK I see you took the trade when TLV Histogram BAR going up above the line . Do you consistently trade this way or regardless if the bar is green and below or above the line. I know LOU dont see it as important cause you can still BUY that way .
If you wait for TVI to cross the zero line you will be giving up many pips (on some trades). Do some visual backtesting and you will see this is true.
Old Benjamin was right
  • #216
  • Apr 5, 2010 8:06pm Apr 5, 2010 8:06pm
Soondoock, that is a cool indicator you have that shows the alternate time frame. What is it called so I can track it down?
Thanks!
  • #217
  • Apr 5, 2010 8:21pm Apr 5, 2010 8:21pm
Quoting forexwolf
Soondoock, that is a cool indicator you have that shows the alternate time frame. What is it called so I can track it down?
Thanks!
Hey forex wolf.. I believe it from stratman and the THV thread...Here is a link to some neat mini charts from stratman

http://www.forexfactory.com/showthread.php?t=198729

Bluesteele
Master your Mind,,,Master the Market
  • #218
  • Apr 6, 2010 1:06am Apr 6, 2010 1:06am
Quoting forexwolf
Soondoock, that is a cool indicator you have that shows the alternate time frame. What is it called so I can track it down?
Thanks!
Hi there,
yes it is Stratman's mini chart.

Concerning the zero line, I did it unintentionally (did not wait for cross). But I agree with Lou G, by the way I read the book by William Blau and about TVI. In his book he uses 32, 32, 5 settings and zero cross as a basic signal. But any way I was looking through the history and was amazed how this simple strategy can be different in performance. It is all about correct time period to use it. The period Lou G mentioned is very good. If you are not a piphunter and care about your account this is great choice. Also I apologize but it seems that starting of EU is not good time to trade but starting of Asia session is also perform good. Need to check it.
The Road appears under the steps of walking men...
  • #219
  • Apr 6, 2010 1:09am Apr 6, 2010 1:09am
Concerning 4h TF. There were good sell signals to follow, but did not have access to pc so no trades done. Any way it seems that this trading approach can be traded any TF. Thanks Lou G.
Have a nice trading all.
The Road appears under the steps of walking men...
  • #220
  • Apr 6, 2010 2:12am Apr 6, 2010 2:12am
Quoting Soondoock
Hi there,

Also I apologize but it seems that starting of EU is not good time to trade but starting of Asia session is also perform good. Need to check it.
Hi Soondoock,

You mentioned that the start of EU time is not a good time to trade, can I ask what times you checked? I have been looking at EU from 6.00 untill 13.00(London) and that looks ok so far.

Thanks.

pbb
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