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ALF/TVI - Simple, effective daytrading

  • #421
  • Apr 16, 2010 11:32am Apr 16, 2010 11:32am
Quoting puntalara
Just pop it on the min chart and watch - it will change the color on three candle bank sometimes - BUT if you then change the time frame to say 5min and then back to the min chart again its all back to normal. Confusing aint it

You might want to do a lil reading (Lou's posts mite be a start). This has been discussed previously, not an issue.
  • #422
  • Apr 16, 2010 11:43am Apr 16, 2010 11:43am
IMHO...
Key to this gem of a system is PA...the TVI's main function is market sentiment...From page one:
(Both TVI_2color and TVI_Histogram.....will repaint the current bar as the data changes (which they should). TVI_2color will also repaint the preceding bar when the direction of the trend changes. This is deliberate and unavoidable - because of the way MT4 paints the chart this is necessary in order to keep the line unbroken. As you learn the method you will see that this is not a problem because TVI nearly always changes direction well before ALF creates a trade signal but if it bothers you, use TVI_Histogram or just TVI by itself.)
So the repaint issue is moot since a trade is not triggered when the color makes a change...
The PA above or below the ALF helps us decide which direction to trade as long as we keep the trend of the moment in mind...From page one:
( 1. The slope of ALF is not as important as I originally thought - the relationship between ALF and PA is critical.)
Which is why the 15m chart works so well...easy to keep track of the hourly trend and to know if trade will be counter trend or with the trend...
Sometimes the minutia of what we look at on the charts to trigger our trade can get in the way.
Hope some of this helps...
Cliff

Trade well and follow the trend, not the so-called "experts."


Quoting puntalara
Just pop it on the min chart and watch - it will change the color on three candle bank sometimes - BUT if you then change the time frame to say 5min and then back to the min chart again its all back to normal. Confusing aint it
I get exercise just pushing my luck
  • #423
  • Apr 16, 2010 11:56am Apr 16, 2010 11:56am
Ta guys, feel a bit of a dope now

Should of read ALL the thread first shouldn't I
  • #424
  • Apr 16, 2010 6:50pm Apr 16, 2010 6:50pm
No worries, Mate...just part of the learning process, eh?
This really is quite a good system. I look at the ALF like a line drawn in the sand at the beach...you know it is not permanent, that it will disappear at some point...that change is the PA.
The TVI just gives one a bias as to market direction and can also be helpful in defining divergence.
See ya in the trenches.
Cliff

Quoting puntalara
Ta guys, feel a bit of a dope now

Should of read ALL the thread first shouldn't I
I get exercise just pushing my luck
  • #425
  • Apr 18, 2010 10:59am Apr 18, 2010 10:59am
Hey there pippindog,

Could I try out your 15 min template, please. Seems like a good layout and color combo to me.

Thanks,
Ed
  • #426
  • Apr 18, 2010 4:55pm Apr 18, 2010 4:55pm
Quoting enewbold
Hey there pippindog,

Could I try out your 15 min template, please. Seems like a good layout and color combo to me.

Thanks,
Ed
Hi Ed:

This is the one I'm currently using. I think it's the same as Lou's original. I open a 15min using 2/3 of the screen, then a small 1hr next to it to show longer term trend. May drop the 1hr and use something else for longer term trend soon.

If this isn't what you wanted, let me know and I'll try to get the right thing posted.

Take care,

John
Attached File(s)
File Type: tpl alf.tpl   17 KB | 345 downloads
  • #427
  • Apr 18, 2010 5:25pm Apr 18, 2010 5:25pm
Thanks for sharing. Will start testing in a demo soon.
  • #428
  • Edited 7:16pm Apr 18, 2010 7:08pm | Edited 7:16pm
Quoting cce
No worries, Mate...just part of the learning process, eh?
This really is quite a good system. I look at the ALF like a line drawn in the sand at the beach...you know it is not permanent, that it will disappear at some point...that change is the PA.
The TVI just gives one a bias as to market direction and can also be helpful in defining divergence.
See ya in the trenches.
Cliff
Thanks for defusing the repainting issue in my absence - hopefully everyone who is new here will read the posts on the first page of the thread. I've tried to keep post #1 updated with current indicators and guidelines (including a few words on the repainting question).
Old Benjamin was right
  • #429
  • Apr 19, 2010 9:26am Apr 19, 2010 9:26am
After an earlier modest loss on a short, I'm rebounding...
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 9 KB
Old Benjamin was right
  • #430
  • Apr 19, 2010 9:38am Apr 19, 2010 9:38am
I bailed out of the previous trade at +25. PA seems to be slowing a bit (and it IS Monday...)
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 9 KB
Old Benjamin was right
  • #431
  • Apr 19, 2010 9:50am Apr 19, 2010 9:50am
Hi All,

I took my first live trade using Lou's system and took 15 pips (I won't bother posting a chart as it matched the same entry Lou made on his trade). I had been sim-trading this method for a few weeks now and finally decided to go live. Just wanted to thank Lou (and all the others who've contributed) for presenting their methodology in such an easy to use format.

Over the next few weeks, I'll try posting results on markets other than EURUSD as it seems to have general applicability to many markets.

Thanks and Good luck trading All!
  • #432
  • Apr 19, 2010 9:57am Apr 19, 2010 9:57am
Hi Lou,
I met a situation that TVI just past to green but PA is already above ALF, Tell me please, if it is a valid one.
Thanks

best regards
gopsat
  • #433
  • Apr 19, 2010 10:04am Apr 19, 2010 10:04am
Quoting gopsat77
Hi Lou,
I met a situation that TVI just past to green but PA is already above ALF, Tell me please, if it is a valid one.
Thanks

best regards
gopsat
Post a chart - hard to answer without seeing the setup.
Old Benjamin was right
  • #434
  • Apr 19, 2010 10:09am Apr 19, 2010 10:09am
Quoting yahootex
Hi All,

I took my first live trade using Lou's system and took 15 pips (I won't bother posting a chart as it matched the same entry Lou made on his trade). I had been sim-trading this method for a few weeks now and finally decided to go live. Just wanted to thank Lou (and all the others who've contributed) for presenting their methodology in such an easy to use format.

Over the next few weeks, I'll try posting results on markets other than EURUSD as it seems to have general applicability to many markets.

Thanks and Good luck trading All!
That was a nice little move, wasn't it?

Several members are trading Cable with success and I seem to remember someone posting a chart on AU - I can't see why this approach should not work for any pair.
Old Benjamin was right
  • #435
  • Apr 19, 2010 10:25am Apr 19, 2010 10:25am
win 10 pips just now on long EU...

i found out that it can only be used during US Session as what Lou G suggested... cos i hit my stop loss during e asian session.. is that true?

Nevertheless, i uses 15 Mins as my main and 30 Mins as confirmation..
  • #436
  • Apr 19, 2010 10:40am Apr 19, 2010 10:40am
Quoting KPForex
win 10 pips just now on long EU...

i found out that it can only be used during US Session as what Lou G suggested... cos i hit my stop loss during e asian session.. is that true?

Nevertheless, i uses 15 Mins as my main and 30 Mins as confirmation..

you can use during Euro session .
  • #437
  • Edited 10:48am Apr 19, 2010 10:44am | Edited 10:48am
Quoting KPForex
win 10 pips just now on long EU...

i found out that it can only be used during US Session as what Lou G suggested... cos i hit my stop loss during e asian session.. is that true?

Nevertheless, i uses 15 Mins as my main and 30 Mins as confirmation..
The first half of any of the three major sessions (Asia, London, New York) is generally the best time to trade with London being best followed by NY and Asia. Depends on when you are able to trade based on where you live and on your schedule. I like the overlap of London/NY - there is almost always a profitable trade between 12:00 - 16:00 GMT.

I seldom let a trade go against me all the way to a 20 pip stop, especially if TVI turns the wrong way.
Old Benjamin was right
  • #438
  • Apr 19, 2010 10:51am Apr 19, 2010 10:51am
10 minutes to the close in London so my trading day is over.

Two trades today - minus 15 pips and plus 25 equals net 10 - pretty thin soup but better than a loss
Old Benjamin was right
  • #439
  • Edited 11:08am Apr 19, 2010 11:08am | Edited 11:08am
If you have no other viable trading time available, the Asian open is still a possibility - revise your expectations downward a bit and you can still make some pips. See the chart for last evening's opportunity. This does not happen every day but it does happen...
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 9 KB
Old Benjamin was right
  • #440
  • Apr 19, 2010 11:28am Apr 19, 2010 11:28am
I'm planning a research project to answer the question "should only short trades be taken when TVI is below the zero line - and vice versa".

It will take me a while to get this done - I plan on dumping the necessary data to a csv file and writing a quick and dirty Python program to do the analysis but it may be worth the effort.

Several members have raised this question and I hate not knowing the answer....

Stay tuned.
Old Benjamin was right
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