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ALF/TVI - Simple, effective daytrading

  • #981
  • Edited 8:44am May 19, 2010 6:01am | Edited 8:44am
Gbp/Jpy, Gbp/usd, Aud/Jpy, and Aud/Usd. I did not trade Euro pairs for fear of EU intervention. ALAS! My Aud/Usd trade...Short from .8639. SL at .8669. The broken line channel is 6 pd. Keltner, ATR mode, set at .75. Upper band is SL in this trade. EDIT: I have closed this trade at .8436, as well as my Aud/Jpy trade, which was short from 79.83, at 77.00. Will allow GBP trades to run. If they will!!EDIT: Gbp/Usd trade, short from 1.4329, has been stopped out at 1.4378. Gbp/Jpy trade, short from 132.28, SL as I write 132.65, still in play. I see no point in posting additional trades. I think it has been made clear that ALF/TVI Candles combo will provide excellent entry signals time and time again. The rest is up to the trader.
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Vincit qui se vincit.
  • #982
  • May 19, 2010 8:25am May 19, 2010 8:25am
@Lou
hmm can you tell me if i wanna play exacly like you but wathing 5m charts but using m15 mtf alf on 5min chart
how to make that tvi candles show colours like on m15? is it enought to set to 24 24 15?
thanx
  • #983
  • May 19, 2010 8:41am May 19, 2010 8:41am
Quoting bbolss
@Lou
hmm can you tell me if i wanna play exacly like you but wathing 5m charts but using m15 mtf alf on 5min chart
how to make that tvi candles show colours like on m15? is it enought to set to 24 24 15?
thanx
I know nothing about mtf alf - not part of the method so you're on your own -
Old Benjamin was right
  • #984
  • May 19, 2010 8:46am May 19, 2010 8:46am
This chart (with Fractal_SR added) shows a long period of inactivity leading up to a move up through resistance.

Remember that I have mentioned this many times - when price is cycling back and forth through ALF, WAIT for a better signal.

Either of the two arrows are good entries (when resistance is clearly breached).

The Fractal_SR is posted - check the paperclip icon and use it if you need it but try to train your eye to see SR without the lines on the chart...
Attached Image (click to enlarge)
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Old Benjamin was right
  • #985
  • May 19, 2010 8:50am May 19, 2010 8:50am
Was noticing a lot of M15 moves back towards ALF line before continuation of breaks/moves/trends. This definitely applies to M1 as well.
Using a 20,1,4 ALF and 24,24,5 TVI helps catch moves and filter moves respectively.
  • #986
  • May 19, 2010 8:54am May 19, 2010 8:54am
Hi,

This is my chart on EURUSD 5M, are these things happening to me only ?
It's sort of a repaint-error .... anyone noticing it too ? Any fix ?

Anyway, many thanks again for sharing your system Lou, great job!
Attached Image
Lorenzo
  • #987
  • May 19, 2010 9:03am May 19, 2010 9:03am
i find out that sometimes fibo 50 or 61 retrace also can be good reentry point or late entry if you missed first train
see image
Attached Image
  • #988
  • May 19, 2010 9:08am May 19, 2010 9:08am
Quoting lorbax
Hi,

This is my chart on EURUSD 5M, are these things happening to me only ?
It's sort of a repaint-error .... anyone noticing it too ? Any fix ?

Anyway, many thanks again for sharing your system Lou, great job!
If I see the word "repaint" again I'm gonna break something

Please post your charts in the standard way (file/save as picture/active chart "as is"/OK) so we can see them better.

As far as I know, any so-called repainting is caused by non-matching settings between indicators. A couple of very good MQL coders (other than myself) have looked at the code and pronounced it accurate.

Sorry you are having issues but I see no error in the coding - check your settings.

By the way, TVI_Histogram is redundant if you use TVI_Candles...

Try this one - straight from my live folder:
Attached File(s)
File Type: ex4 TVI_Histogram.ex4   4 KB | 816 downloads
Old Benjamin was right
  • #989
  • May 19, 2010 9:13am May 19, 2010 9:13am
My TVI line gets broken up and/or has color that doesn't match slope at certain volatile areas. Switching to another time frame and then back to the one that was garbled has been setting things straight. A lot of indicators of this nature do that for me. Not sure if that is what was happening on the histogram.
  • #990
  • May 19, 2010 9:23am May 19, 2010 9:23am
Quoting Lou G
If I see the word "repaint" again I'm gonna break something

Please post your charts in the standard way (file/save as picture/active chart "as is"/OK) so we can see them better.

As far as I know, any so-called repainting is caused by non-matching settings between indicators. A couple of very good MQL coders (other than myself) have looked at the code and pronounced it accurate.

Sorry you are having issues but I see no error in the coding - check your settings.

By the way, TVI_Histogram is redundant if you use TVI_Candles...

Try this...
Well, I posted it as a screenshot, what does it matter ?
And... I dont use TVI_candles, my candles are red/green with the standard way. I trust you that the indicator is correct, I probably have problems with the data-feed from Alpari, I don't know ...
Lorenzo
  • #991
  • May 19, 2010 9:24am May 19, 2010 9:24am
AS this is my first post, I will hopefully do it correctly. I am only on page 25 of this thread, but I felt I should post my morning. Total of four trades, total of 234 pips. Not bad for about an hours work! (I even snagged 90 pips on the BEAST GBPJPY )
I watch 8 charts, best trading is 8amEST to 11am EST (blue work time on posted charts) as I live in Chicago. I trade 30M charts with confirmation of the ALF/TVI trade indication with current S/R and 14LWWC ma (Green line and arrows on chart), then go to 5m chart for exact entry. Stop loss when I get panicky, but I am working on that!

So far so good! Can I say I LOVE this method!!!!!
Attached Image(s) (click to enlarge)
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Click to Enlarge Name: gbpjpy.jpg Size: 333 KB
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Philippians 4:13 "I can do all things through Christ which strengthens me"
  • #992
  • May 19, 2010 9:28am May 19, 2010 9:28am
Hi lou

I think 20 pip stop loss is too low. I also used it today on the first entry as shown on your chart but I lost it. Please think of any better ideas for SL.

Thanks
Make money Not pips
  • #993
  • May 19, 2010 9:28am May 19, 2010 9:28am
Quoting agent6488
My TVI line gets broken up and/or has color that doesn't match slope at certain volatile areas. Switching to another time frame and then back to the one that was garbled has been setting things straight. A lot of indicators of this nature do that for me. Not sure if that is what was happening on the histogram.
EllisEdi has suggested that this may be a MT4 problem - I would not be surprised if it is. He is an accomplished MQL coder (much better than I) and has reviewed the code and found no problems.

I've had my chart running for almost 3 hours and have not seen any problem.

Is there some reason for the reluctance to use TVI_Candles? I've not received any complaints about that (yet)...
Old Benjamin was right
  • #994
  • May 19, 2010 9:31am May 19, 2010 9:31am
Quoting balle1973
Hi lou

I think 20 pip stop loss is too low. I also used it today on the first entry as shown on your chart but I lost it. Please think of any better ideas for SL.

Thanks
Hi
Pls I mean this in the nicest poss way, its your trade take ownership of it, check charts find a reasonable stop for you and use it. Its not Lou's job.
  • #995
  • Edited 9:39am May 19, 2010 9:32am | Edited 9:39am
Quoting lorbax
Well, I posted it as a screenshot, what does it matter ?
Post as you like then, but the standard method allows us to enlarge the .gif for a closer look and also shows the currency symbol and TF.

I notice that you have both TVI_2color and TVI_Histo in one window - this has been proven to cause problems (posted by member Pat a few pages ago) - MT4 may not display properly when multiple indicators are superimposed...

I knew I should have simply used the standard, unadorned TVI from the very beginning - there must be 20 or more posts about "repainting" which only results in taking the thread away from actual trading - my mistake.
Old Benjamin was right
  • #996
  • May 19, 2010 9:38am May 19, 2010 9:38am
Quoting Vantage
Hi
Pls I mean this in the nicest poss way, its your trade take ownership of it, check charts find a reasonable stop for you and use it. Its not Lou's job.
Thanks for your reply. I am not making Lou responsible for that. I am sure Lou understands what I want to say. So pls.......
Make money Not pips
  • #997
  • May 19, 2010 9:48am May 19, 2010 9:48am
Quoting balle1973
Thanks for your reply. I am not making Lou responsible for that. I am sure Lou understands what I want to say. So pls.......
Not wanting to fight. This trade was right around the even number in an overall downtrend. So volatility was always going to be an issue. If you gave your exact entry price it might help.

If you're going to trade around an even number especially against the overall trend expect more volatility and increase your stop. Or wait until price completes a small higher low above the even number or wait for price to go above the top of hammer (arrow right).
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  • #998
  • May 19, 2010 9:50am May 19, 2010 9:50am
Quoting balle1973
Thanks for your reply. I am not making Lou responsible for that. I am sure Lou understands what I want to say. So pls.......
EU is very jumpy today - I've been stopped out once already. 20 pips is the most I am comfortable with risking per trade based on a small percentage of my account balance.
Old Benjamin was right
  • #999
  • May 19, 2010 9:54am May 19, 2010 9:54am
Quoting Lou G
... but try to train your eye to see SR without the lines on the chart...
It is very helpful and great training wheels I've got this turned on right now and I'm trying to train my eye to see it, but I'm not quite there yet.

Thanks for another useful tool Lou.

PipsSmith
Blessed is the man who finds wisdom...
  • #1,000
  • May 19, 2010 9:55am May 19, 2010 9:55am
Aye, Cpn' rough seas indeed
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