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ALF/TVI - Simple, effective daytrading

  • #921
  • Edited 11:09am May 17, 2010 10:43am | Edited 11:09am
and with TVI confirmation, I will sell break of lower channel. A new low in a down trend, after a brief rally. How low can you go??
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Vincit qui se vincit.
  • #922
  • Edited 12:47pm May 17, 2010 11:06am | Edited 12:47pm
Aud/Usd on break of lower channel at .8719, with TVI confirmation. SL at .8815. TP .8535. EDIT: I am not entirely happy to be shorting at these levels. EDIT: A print below .8700 will make me feel a lot better.
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Vincit qui se vincit.
  • #923
  • May 17, 2010 11:12am May 17, 2010 11:12am
If you have a profit, consider closing half your trade (yes, mt4 will allow you to do this) and letting the other half continue.

Just don't let the live half eat your profit if PA continues moving against you...

Here's an example - short at the arrow, PA begins to move up at the check sign, close half the trade for some positive pips, let the other half go, voila - it works...
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Old Benjamin was right
  • #924
  • May 17, 2010 12:27pm May 17, 2010 12:27pm
Quoting Lou G
If you have a profit, consider closing half your trade (yes, mt4 will allow you to do this) and letting the other half continue.

Just don't let the live half eat your profit if PA continues moving against you...

Here's an example - short at the arrow, PA begins to move up at the check sign, close half the trade for some positive pips, let the other half go, voila - it works...
I've been trying to take it all when it goes against me--then if it clears the low--reenter.
  • #925
  • May 17, 2010 12:52pm May 17, 2010 12:52pm
First of all, thank you for this very simple method. I like simple, coz my trading brain cannot handle too many options!

Anyway, I have a clarification question, which may seem obvious, but it will help newbie me:

Do you wait for a full candle to both open and close the opposite side of the ALF, or do you just want a candle of the right (TVI) color to close on the other side of the ALF?

I traded live with this method for the first time this morning. Great first trade and then some not so smart trades, but came away with a small profit, so an OK beginning.

Cheers

Invisible
  • #926
  • May 17, 2010 1:45pm May 17, 2010 1:45pm
why do i have different candle colors on the candles than the rest ? look at the top candle and a few after that ?


best regards
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  • #927
  • May 17, 2010 2:23pm May 17, 2010 2:23pm
Quoting Lou G
Candles show in normal color when they move opposite of TVI.

There you go. 'Normal was black and white'
  • #928
  • May 17, 2010 2:30pm May 17, 2010 2:30pm
In my case, it doesn't exactly repaint but, using both histogram and TVI-2colors overlapped, sometimes I notice a small difference between the two as regards the values, usually color is correct.

Reapplying the indicator or simply opening the settings of it and the reconfirming fixes the problem ....

Maybe there are some errors in the data-feed ? I use Alpari UK.

Next time I have the chance I will take some screenshots.

Thanks bye
Lorenzo
  • #929
  • May 17, 2010 3:20pm May 17, 2010 3:20pm
but look at lous pic in post 923 it have some different colors from what i have see the white candle i dont have that ?


best regards
  • #930
  • May 17, 2010 3:30pm May 17, 2010 3:30pm
Quoting Invisible
Do you wait for a full candle to both open and close the opposite side of the ALF, or do you just want a candle of the right (TVI) color to close on the other side of the ALF?

Invisible
Either way can be right - the correct color candle needs to close above or below ALF.
Old Benjamin was right
  • #931
  • May 17, 2010 3:47pm May 17, 2010 3:47pm
Thanks, Lou.
  • #932
  • May 17, 2010 3:53pm May 17, 2010 3:53pm
Quoting jgadefelth
but look at lous pic in post 923 it have some different colors from what i have see the white candle i dont have that ?


best regards
I'm not sure what you mean...

If TVI is up, up candles are green and down candles are black.

If TVI is down, down candles are red and up candles are white.

That's how it works - makes it easier to see if PA is turning against TVI.
Old Benjamin was right
  • #933
  • May 17, 2010 4:29pm May 17, 2010 4:29pm
My tvi's were acting strange until i got the tvi candles--i had downloaded them using internet explorer--apparently there is a known problem with that browser
  • #934
  • May 17, 2010 4:39pm May 17, 2010 4:39pm
Quoting jgadefelth
but look at lous pic in post 923 it have some different colors from what i have see the white candle i dont have that ?


best regards
are your settings 8 8 5 for tvi candles?
looks like not
regards
  • #935
  • May 17, 2010 4:39pm May 17, 2010 4:39pm
932 look at my pic and look at your latest pic the same candles in the pic have different colors


best regards
  • #936
  • May 17, 2010 5:01pm May 17, 2010 5:01pm
closed H4 Aud/Usd trade at .8769. Adverse TVI close of 16:00 GMT candle.
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Vincit qui se vincit.
  • #937
  • May 17, 2010 5:04pm May 17, 2010 5:04pm
it's 923---far as i can tell mine looks identical
  • #938
  • May 17, 2010 6:55pm May 17, 2010 6:55pm
it is 5885 as settings i have the tpl


best regards
  • #939
  • May 18, 2010 1:10am May 18, 2010 1:10am
Quoting ewinner
Hi,

Just wanted to say thanks for a great strategy.

Ive only been trading for a couple of days with it but with great success on the 5min chart, i found adding a Macd with divergence indicator really helps identify changes in trend, ive added the indicator to this post if anybody else would like to use it.

Mark
Truly excellent assistance. Great signals thanks very much
  • #940
  • May 18, 2010 6:38am May 18, 2010 6:38am
have marked 2 trades with arrows would this trade be entered acording to the system they look like loosers just trying to see if i get it.


best regards
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