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ALF/TVI - Simple, effective daytrading

  • #761
  • May 7, 2010 8:17am May 7, 2010 8:17am
Strange day - mixed US economic news (new jobs and unemployment rate both up), no joy for the EU.

I may not trade today - NFP Friday is my least-favorite day of the month...
Old Benjamin was right
  • #762
  • May 7, 2010 8:25am May 7, 2010 8:25am
I dislike the entire NFP week. Typically trade .50 normal pos. size. M15 traders have not profited from this down move since news release?
Vincit qui se vincit.
  • #763
  • May 7, 2010 8:31am May 7, 2010 8:31am
Has EU bottomed out?
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 10 KB
Old Benjamin was right
  • #764
  • May 7, 2010 8:48am May 7, 2010 8:48am
Manhattan experiencing a light, but steady chop.
Vincit qui se vincit.
  • #765
  • Edited 9:09am May 7, 2010 9:04am | Edited 9:09am
Quoting trade4fun
LouG thank you very much for this awesome system.

1 question though since i am newbe here and i dont think i can attach anything.

i was using the euro/CHF and was doing fine by using 1 lot sell. made around 30 pips and sold. then around 14.30 GMT it gave an indication to buy. since the line went into green.

however at 20.30 the green line went into red again, but when the green line was active of TVI2 .the bars actually never went up but further down

so why didnt TVI2 suggested a red line instead of giving a green line? because now i lost...

Hey there trade4fun,

I have a couple of questions ...

It always helps to post a chart of setups, do you have one?
Are you watching for signals on a 15 minute chart? If so, 100 pips is probably way to much for a stop exit. This system in its base form is to be a 10 - 20 pip stop exit (when on EUR/USD) for the EUR/CHF I would guess it is the same or maybe less right now because the EUR/CHF daily range is smaller than the EUR/USD. Also price swing about the same as EUR/USD (30 - 60 pips per swing).

Warning my opinion---
The EUR/CHF has been ranging for quite a bit with big breakouts. Most candles have been under 10 pips or bigger than 30 pips. This is a warning to me that it might be better to switch currencies until candle size is not so radical and things calm down a bit in the EUR/CHF. there are also a bunch of news events for the EUR right now that is not normal financial news (i.e. Greece bail outs and stuff like that) If you are not following that entire situation carefully you could be on the wrong side of a trade when they decided to announce something unscheduled. Other pairs such as EUR/USD are still effected by the situation but also have many other factors to help balance the price movement.

End my opinion---

Now, as to the indicator. The TVI is an average of trading volume (ticks). Because the total of ticks is not permanent until the close of the bar, this TVI is calaculated at every tick during that bar and can and will change during the life of that bar. The TVI2 indicator actually calls the TVI indicator to get the value and then maps either a red color or a green color in the proper point. Now based on the way MT4 refreshes automatically, most code does not force a screen update when a new value is produced, therefore the value will get updated but not the color graphic. When the auto screen update runs the color should update. I have noticed a bug in the screen update and occasionally the color does not get updated until a screen update is forced. This can be done by reapplying a template or doubling cllicking on an indicator and clicking on the ok button.

I have kind of summarized the issue here since you are probably not a programmer.

There is a solution, but it would involve re-writing the indicator to include a forced screen refresh. The side effect to this is a slower trading platform and a kind of flicker. I have been told by metaquotes that this is fixed in the upcoming MetaTrader 5.


I had planned on playing with these indicator, but i have not had enough time as of yet and with an easy workaround (manually refresh) the need has noty been great.

Mark


PS
In the basic version of this this system, the TVI is supposed to indicate which direction you should enter Green = long red = short. The actual entry is supposed to be based on price crossing the ALF. I suggest rereading lou's posts in the thread to make sure you have the system correct.


Mark
EllisEdi Moving on to my next trade ...
  • #766
  • May 7, 2010 9:19am May 7, 2010 9:19am
Hey all,

A Quick +20 pips. I took this trade because price bounced down off of the ALF, TVI was in the proper direction. I realized I was trading into a previous support but the support area was big enough that with the news still driving price I could squeeze out +20 pips on a valid signal. Also my target profit was still above the round number 1.2650, this increased my chance of success as well because the EUR/USD likes to test most of the "50" areas.


Mark
Attached Image (click to enlarge)
Click to Enlarge Name: 2010-05-07-1000-EurUsd.JPG Size: 38 KB
EllisEdi Moving on to my next trade ...
  • #767
  • May 7, 2010 9:24am May 7, 2010 9:24am
beforehand, I will close my Eur/Usd trade at 16:00 GMT, barring some kind of miraculous reversal of PA. EDIT: Stopped at 1.2611. See you Monday.
Vincit qui se vincit.
  • #768
  • May 7, 2010 10:14am May 7, 2010 10:14am
Quoting EllisEdi
Now, as to the indicator. The TVI is an average of trading volume (ticks). Because the total of ticks is not permanent until the close of the bar, this TVI is calaculated at every tick during that bar and can and will change during the life of that bar. The TVI2 indicator actually calls the TVI indicator to get the value and then maps either a red color or a green color in the proper point. Now based on the way MT4 refreshes automatically, most code does not force a screen update when a new value is produced, therefore the value will get updated...
I wonder, could the refresh problem have something to do with what release of MT4 is being used (and who it was downloaded from)?

I spent many days with the indys running on demo for hours at a time during the development phase and never saw problems like this, in fact I just put TVI_2color back on my chart after reading your post and watched it go through a direction change just fine.

I'm trying to encourage members to move to the new candle-oriented version - haven't seen any refresh problems it that so far either.

I know you to be a more accomplished C coder than I, so any suggestions you may have are appreciated.

Best,

Lou
Old Benjamin was right
  • #769
  • May 7, 2010 10:37am May 7, 2010 10:37am
EllisEdi's post regarding possible refresh problems troubles me - here's a repost of the indicators in question.
Attached File(s)
File Type: mq4 TVI.mq4   3 KB | 655 downloads
File Type: mq4 TVI_2color.mq4   2 KB | 730 downloads
File Type: mq4 TVI_Candles.mq4   2 KB | 618 downloads
File Type: mq4 TVI_Histogram.mq4   3 KB | 692 downloads
Old Benjamin was right
  • #770
  • May 7, 2010 10:48am May 7, 2010 10:48am
Quoting Lou G
I wonder, could the refresh problem have something to do with what release of MT4 is being used (and who it was downloaded from)?


Lou
I am running metatrader with different brokers and have the problems with the tvi 2 color and histogram too. The tvi candles and vertical signal lines work fine. These candles are just perfect as they clean up your chart.....

Thanks Lou for that, it's a great gift!
  • #771
  • Edited 11:04am May 7, 2010 10:49am | Edited 11:04am
Quoting Lou G
Indecision on the part of traders?
Sorry, my response to your post was non-responsive - I just woke up, booted my machine and was not quite awake yet.

As I said in my reply to EllisEdi, I have not seen refresh problems such as you described. Try reloading the indicators in question from post #773 and let me know if your problem gets solved...

Better yet, here are the actual executables - download and copy to yourmt4/experts/indicators along with the source code from post #773.
Attached File(s)
File Type: ex4 TVI.ex4   4 KB | 508 downloads
File Type: ex4 TVI_2color.ex4   4 KB | 615 downloads
File Type: ex4 TVI_Candles.ex4   4 KB | 447 downloads
File Type: ex4 TVI_Histogram.ex4   4 KB | 511 downloads
Old Benjamin was right
  • #772
  • May 7, 2010 1:02pm May 7, 2010 1:02pm
Lou,
Your MT4 code is clean and well written and is written as it should be. The bug I think is in MT4. BTW, On my platform the bug does fix itself after a bit.

I am using version 4 build 255 from FXDD. Only rarely have I seen any hickups in displaying the color. (Attached is an example of a drawing issue for the histogram indicator.) By adding a WindowRedraw(); command it forces MT4 to redraw the objects. I have not tried this for long (just put in the line this morning) so i am not sure if this will fix it.


i.e.
WindowRedraw();
DoAlerts(i);

As for the question that trade4fun asked, the question was a little unclear to me and I made a couple of assumptions I probably should not have.
Instead of speculating I will wait till he re-posts


Mark
Attached Image (click to enlarge)
Click to Enlarge Name: histogram bug.JPG Size: 42 KB
EllisEdi Moving on to my next trade ...
  • #773
  • May 7, 2010 2:01pm May 7, 2010 2:01pm
Quoting EllisEdi
Lou,
Your MT4 code is clean and well written and is written as it should be. The bug I think is in MT4. BTW, On my platform the bug does fix itself after a bit.

I am using version 4 build 255 from FXDD. Only rarely have I seen any hickups in displaying the color. (Attached is an example of a drawing issue for the histogram indicator.) By adding a WindowRedraw(); command it forces MT4 to redraw the objects. I have not tried this for long (just put in the line this morning) so i am not sure if this will fix it.

yes it hapends
there are some bugs
start using tvi candles - woorking ok
or if you wanna stay at histo etc ehen you see shit like this on tour chart just reload the template and it will fix tbe errors for a while

ps im still looking for some filter
i checkd f/e moving avagree in color best for me was 6-8 period at h1 and take shots on 15min only in direction/color of that ma in colour..
but now i see that this sma on 1h give me same results as the ema 66 on 15min ;p
did somebody found something interesting about filter?
regards and have nice weekend!
  • #774
  • May 7, 2010 2:24pm May 7, 2010 2:24pm
Quoting EllisEdi
Lou,
Your MT4 code is clean and well written and is written as it should be. The bug I think is in MT4. BTW, On my platform the bug does fix itself after a bit.

I am using version 4 build 255 from FXDD. Only rarely have I seen any hickups in displaying the color. (Attached is an example of a drawing issue for the histogram indicator.) By adding a WindowRedraw(); command it forces MT4 to redraw the objects. I have not tried this for long (just put in the line this morning) so i am not sure if this will fix it.


i.e.
WindowRedraw();
DoAlerts(i);...
Aha, I've seen that before! The drawing error you show is caused by the way MT4 calculates the max/min of the indicator window - if you check the actual values of the histo and the 2color in data window, you will see they are both the same. If you change the TF of the chart it will correct itself. WindowRedraw may not remedy this.

You are correct - it is an MT4 oddity (hate to say error - Slawa gets testy)
Old Benjamin was right
  • #775
  • May 8, 2010 8:58am May 8, 2010 8:58am
thanks for your reply.

let me show you the picture in question. i am attaching it right now. hope it works.

as you can see between the 2 red lines. tvi_2 produces a green line. however in this case the buy would have been a lost.

again just curious why it happen. because the indicator is pretty good overall in the M15 timeframe.

also a small idea of mine would be, if there is a timeframe say between 2 or 4 hours where the currency value aint changing much. would it not be a a good idea to give an orange line? to show your entering a dangerzone? that way your sure that if you entering now either sell or buy you could lose.

again i am just a newbee in this. and have no idea if it is good or not. just an observation.

anyway back to learning mql4 programming.

trying to finnish my first indicator
Attached Image (click to enlarge)
Click to Enlarge Name: eurchf-wrong.gif Size: 14 KB
  • #776
  • May 8, 2010 12:00pm May 8, 2010 12:00pm
Quoting trade4fun
thanks for your reply.

let me show you the picture in question. i am attaching it right now. hope it works.

as you can see between the 2 red lines. tvi_2 produces a green line. however in this case the buy would have been a lost.

again just curious why it happen. because the indicator is pretty good overall in the M15 timeframe.

also a small idea of mine would be, if there is a timeframe say between 2 or 4 hours where the currency value aint changing much. would it not be a a good idea to give an orange line? to show your entering a dangerzone?...
There is no signal to buy in the area you indicate - a buy signal would only exist if PA rose clearly above ALF.

Also, in an overall downtrend such as the one shown, it would be VERY risky to trade counter-trend.

See post #564 for an explanation of ALF, TVI and PA.
Old Benjamin was right
  • #777
  • May 8, 2010 12:06pm May 8, 2010 12:06pm
Quoting bbolss
ps im still looking for some filter
i checkd f/e moving avagree in color best for me was 6-8 period at h1 and take shots on 15min only in direction/color of that ma in colour..
but now i see that this sma on 1h give me same results as the ema 66 on 15min ;p
did somebody found something interesting about filter?
regards and have nice weekend!
IMHO there is no better filter than ALF - there are a few that are almost as good but you're certainly welcome to keep searching...
Old Benjamin was right
  • #778
  • May 8, 2010 2:05pm May 8, 2010 2:05pm
yeah i get that there is no 100% working filter;]
i checkd over 30 indi and 50 types of MA width diffrent lenght/price/mode
always we miss some good treids or we get in to some wrong trade...

there is nathing beter then the alf ant your expirience ;]
gues practice make masters;]
  • #779
  • May 9, 2010 11:19am May 9, 2010 11:19am
behind the curve and rather eccentric with my set-up, but I just love these tools.
Attached Image (click to enlarge)
Click to Enlarge Name: bb.gif Size: 25 KB
Vincit qui se vincit.
  • #780
  • May 9, 2010 1:55pm May 9, 2010 1:55pm
Quoting Pippopotamus
behind the curve and rather eccentric with my set-up, but I just love these tools.
Hi your set up with the tvi indi, how do you get the 3 lines my tvi and tvi 2 colour only generate 1 line?

Cheers.
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