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ALF/TVI - Simple, effective daytrading

  • #881
  • May 14, 2010 9:25am May 14, 2010 9:25am
what people fail to realize is the definition of ALF and TVI and it's role . It replaces the need of other indicators like volume, oscillators, moving average etc.... Im not saying if one realizes the "definition" more than that is all you need for this system. In my opinion if one cloud LOU's system with too many indicators then it defeats the purpose of testing the system. However, do what feels right for you but understanding why and how it works helps.

Also, it helps to learn intermarket relationships as to "WHY" the market is moving. I'm not not an expert but I feel more confident in trading overall using LOU system and I try to trade using no indicators but thats' a different story. THat will take some time for me.

" ALF the blue line on screen functions as a continuously self-adjusting overbought/oversold line. Buy when price goes above the line, sell when price goes below (similar to a Stochastic except that ALF is both the 20 and the 80)"

TVI measures the relationship between incoming ticks for a given volume. If upticks outnumber downticks the TVI rises, and vice-versa. from LOU's first page
  • #882
  • May 14, 2010 9:31am May 14, 2010 9:31am
... in response to requests, here's a version of TVI_Candles that will (hopefully) send email at the change in direction of TVI.

SendAlert and SendEmail must both be set to "true".

Let me know if it works

See MT4 help for instructions on setting up email.
Attached File(s)
File Type: ex4 TVI_Candles.ex4   4 KB | 449 downloads
File Type: mq4 TVI_Candles.mq4   2 KB | 570 downloads
Old Benjamin was right
  • #883
  • May 14, 2010 9:32am May 14, 2010 9:32am
Quoting bbolss
yes i found it to on m15 its no need but on m5 it works well
what settings do you use?
ps. here is version 1.1
Thanks for the update, i used default settings, how about you?

Mark
  • #884
  • May 14, 2010 9:37am May 14, 2010 9:37am
but why I like to keep Price Channel on my chart(as an indicator of PA), even though one can trade quite successfully without it. At times the entries can come a bit late. Only two trades during same time interval, both winners.
Attached Image (click to enlarge)
Click to Enlarge Name: bb.gif Size: 22 KB
Vincit qui se vincit.
  • #885
  • May 14, 2010 9:44am May 14, 2010 9:44am
Quoting Pippopotamus
but why I like to keep Price Channel on my chart(as an indicator of PA), even though one can trade quite successfully without it. At times the entries can come a bit late. Only two trades during same time interval, both winners.
Exalted leader my a**
Old Benjamin was right
  • #886
  • May 14, 2010 9:48am May 14, 2010 9:48am
It's Friday - think about winding down as London closes (an hour from now).
Old Benjamin was right
  • #887
  • May 14, 2010 10:09am May 14, 2010 10:09am
below 1.2400!!!???
Vincit qui se vincit.
  • #888
  • May 14, 2010 11:11am May 14, 2010 11:11am
thanks Lou G for your system. Could someone tell me what mean the white and the black candle.
  • #889
  • May 14, 2010 11:14am May 14, 2010 11:14am
Quoting Kerst
Another quick 13pips on GBP/USD and 12 on EUR/USD using m15 with visual confirmations on m5 and m1 before the trade.

Did I leave another 10-15 pips on the table? Yes...but I'm practicing not being greedy, and being steady until I am better at it.

I'm getting the hang of this!

Kerst
Way to go - small bites where you can get them add up.
Old Benjamin was right
  • #890
  • May 14, 2010 11:17am May 14, 2010 11:17am
Quoting gloworm
15 min bars are a bit quick for an old man, but I've found it works very well on 1hr bars, means I can go & do things for an hour at a time

Many thanks Lou
You're welcome. Also works well on H4 and (I am reliably informed) D1 though I prefer not to hold trades overnight.

Be patient, wait for good-looking setups in the direction of the larger trend.
Old Benjamin was right
  • #891
  • May 14, 2010 11:28am May 14, 2010 11:28am
Hello guys,

I am not trading this system and not intending to trade it. Just stopped by to say that TVI Histogram is one of the best indicators that I have lately found in FF where I am permanently looking for new ideas.
I use the indicator instead of MACD. My settings for current timeframe are 8, 8, 5 and I always have a higher timeframe version on my charts with settings 64, 64, 40.
Wish you all the best!
  • #892
  • May 14, 2010 2:57pm May 14, 2010 2:57pm
Quoting Indrek
Hello guys,

I am not trading this system and not intending to trade it. Just stopped by to say that TVI Histogram is one of the best indicators that I have lately found in FF where I am permanently looking for new ideas.
I use the indicator instead of MACD. My settings for current timeframe are 8, 8, 5 and I always have a higher timeframe version on my charts with settings 64, 64, 40.
Wish you all the best!
I'm glad you're finding it useful. Check out ALF while you're at it; like you, I'm always open to new ideas and it's the best thing I've found in a long time.
Old Benjamin was right
  • #893
  • May 14, 2010 3:05pm May 14, 2010 3:05pm
Quoting Lou G
I'm glad you're finding it useful. Check out ALF while you're at it; like you, I'm always open to new ideas and it's the best thing I've found in a long time.
I checked ALF but it is not speaking to me I love Supertrend.
  • #894
  • May 14, 2010 5:39pm May 14, 2010 5:39pm
Quoting Pat1
The reason the cross changes when scrolling is due to Different max and min settings of the two indicators.

If you select a zero level for each of the indicators you will see that there are two zero levels on your sub chart.

Pat
Thanks Pat - one can only depend on the crossing of two or more lines in the indicator window under certain circumstances and this ain't them. It's a minor bug in MT4...
Old Benjamin was right
  • #895
  • May 15, 2010 7:57pm May 15, 2010 7:57pm
Quoting Pippopotamus
on H4 charts. Only ALF, and TVI candles necessary. NO Macd, NO MTF confirmation, NO COG, NO PSAR, NO MAs, NO Pivot Points, NO Amulets, fingers crossed, or hiding under the bed. Just following, robotically, the signals. Thanks Lou for this simple and effective method. People, if you are afraid to lose a trade, your pos. size is too large for your psyche. Reduce pos. size until you feel little or no tension with active trades. FWIW, I trade no more than .5% of acct. bal. per pos., max 2% over 4-6 pos.
I have been a making my tons of pips on EUR and GBP on 4 hr have not lost yet, but thats a trending market....
  • #896
  • May 15, 2010 8:08pm May 15, 2010 8:08pm
Quoting Pippopotamus
on H4 charts. Only ALF, and TVI candles necessary. NO Macd, NO MTF confirmation, NO COG, NO PSAR, NO MAs, NO Pivot Points, NO Amulets, fingers crossed, or hiding under the bed. Just following, robotically, the signals. Thanks Lou for this simple and effective method. People, if you are afraid to lose a trade, your pos. size is too large for your psyche. Reduce pos. size until you feel little or no tension with active trades. FWIW, I trade no more than .5% of acct. bal. per pos., max 2% over 4-6 pos.
I said this in post #684 , also say if I close out a short at plus 130-150 pips, I will wait for a 4 hour candle or two to close up then the next one that is a down candle I may reshort, meaning as long as it moves away from afl and TVI is still down, I will go again or add more if I did not exit all the way, with out it crossing up the ALF then back down.
  • #897
  • Edited 5:34am May 16, 2010 5:01am | Edited 5:34am
Lou or anybody else
can you check the tvi candles for diffrent settings?
for me they are always showing 8 8 5 settings
try to change it to anythung lets say 24 24 5
and on my chart there is no change? still showing 8 8 5 ?
can somebody check?
regards
edit
yes there was a litle bug it was set up HARD to 8 8 5 and dont use "r s u" value drawing candles

Lou i hope you don't mind nothing against - here its a last (with emails) fixed version for any settings
Attached File(s)
File Type: mq4 TVI_Candles.mq4   2 KB | 454 downloads
  • #898
  • Edited 8:08am May 16, 2010 5:27am | Edited 8:08am
See Lou's post #796 for suggested re-entry technique. Of course, this is not the only way, but certainly worthy of consideration. Typically, I use a break of 6 pd. Price Channel for re-entry.
Vincit qui se vincit.
  • #899
  • May 16, 2010 9:06am May 16, 2010 9:06am
Quoting bbolss
Lou or anybody else
can you check the tvi candles for diffrent settings?
for me they are always showing 8 8 5 settings
try to change it to anythung lets say 24 24 5
and on my chart there is no change? still showing 8 8 5 ?
can somebody check?
regards
edit
yes there was a litle bug it was set up HARD to 8 8 5 and dont use "r s u" value drawing candles

Lou i hope you don't mind nothing against - here its a last (with emails) fixed version for any settings
I don't get it - the indicator you posted is exactly the same as the one I originally posted. Parameters for call to TVI are NOT hard coded - they may be changed by the user.
Old Benjamin was right
  • #900
  • May 16, 2010 11:51am May 16, 2010 11:51am
Quoting Lou G
I don't get it - the indicator you posted is exactly the same as the one I originally posted. Parameters for call to TVI are NOT hard coded - they may be changed by the user.
no Lou
in version i have had in line 55 and 56 was from post 886
TVI1 = iCustom(NULL,0,"TVI",8,8,5,0,i);
TVI2 = iCustom(NULL,0,"TVI",8,8,5,0,i+1);

instead of
TVI1 = iCustom(NULL,0,"TVI",r,s,u,0,i);
TVI2 = iCustom(NULL,0,"TVI",r,s,u,0,i+1);

Am I right?
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