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ALF/TVI - Simple, effective daytrading

  • #1,001
  • May 19, 2010 9:57am May 19, 2010 9:57am
Quoting Lou G
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...
I am sorry, I was just asking and plus I thanked you more than once for all this.

have a good day
Lorenzo
  • #1,002
  • May 19, 2010 10:02am May 19, 2010 10:02am
Quoting lorbax
I am sorry, I was just asking and plus I thanked you more than once for all this.

have a good day
Don't mean to offend so don't take it that way - no harm, no foul...

I'm just kicking myself for not simply using the raw TVI - I've brought the problems on myself so I'm the one who is sorry.
Old Benjamin was right
  • #1,003
  • May 19, 2010 10:04am May 19, 2010 10:04am
After this I tried trading long on a retrace and was stopped out...
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 8 KB
Old Benjamin was right
  • #1,004
  • May 19, 2010 10:08am May 19, 2010 10:08am
Quoting Lou G
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.
EU and other pairs where very jumpy this morning (EU-time) too. Thanks to some German comments there have been large moves today. Some might say: 'excellent opportunities', I would rather keep my account save and wait for the markets to ease a little. We have all seen this startegy work fine in the last few months, so in my opinion no problem to stay out sometimes and miss a little (to much) action. A new trade will be waiting for you there tomorrow! Lou, you're totally wright about the tvi candles, need nothing else for that.

Thanks,

PB
  • #1,005
  • May 19, 2010 10:11am May 19, 2010 10:11am
Quoting Vantage
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).
Vantage is absolutely correct RE: volatility in the area of big round numbers - be careful. These are the areas where the big players (large banks) make their moves and it always spills over into spot Forex...
Old Benjamin was right
  • #1,006
  • May 19, 2010 10:13am May 19, 2010 10:13am
Quoting Lou G
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...
Et voilà, as the french say, this is on the USDJPY TF15m, I actually used this system and was very profitable today on this pair, +20 pips TP but could have done much more.

Check the TVI_2colors line and you can see that is sort of scattered, but as you just said, probably it's because of the two indicators overlapped ...

Anyway, once again, thank you for your system ...it's very very nice on the M15-H1
Attached Image (click to enlarge)
Click to Enlarge Name: usdjpy-tvi.gif Size: 15 KB
Lorenzo
  • #1,007
  • May 19, 2010 10:16am May 19, 2010 10:16am
I don't mean to be an *** about this - I'm genuinely concerned that some are having problems with my indicators.

If you are experiencing drawing issues in MT4, try using the method as shown below and check TVI values in the Data Window at close calls.
Attached Image (click to enlarge)
Click to Enlarge Name: alf.gif Size: 33 KB
Old Benjamin was right
  • #1,008
  • May 19, 2010 10:22am May 19, 2010 10:22am
Quoting lorbax
Et voilà, as the french say, this is on the USDJPY TF15m, I actually used this system and was very profitable today on this pair, +20 pips TP but could have done much more.

Check the TVI_2colors line and you can see that is sort of scattered, but as you just said, probably it's because of the two indicators overlapped ...

Anyway, once again, thank you for your system ...it's very very nice on the M15-H1
Yes, that strange drawing is a glitch in the way MT4 calculates the size of the indicator window - if you add a zero line to both indys you will sometimes see two different zero lines in the window...
Old Benjamin was right
  • #1,009
  • May 19, 2010 10:40am May 19, 2010 10:40am
Not using the TVI candles: I passed on those because I like using multiple TVIs, and being able to watch the TVIs move or not move on candles that are going against the indications.

Regret: I think it's good you put all the different versions of the indicators out. If you hadn't, the repainting complaints/comments would just be replaced by complaints about the indicators being to basic, and we'd be a programming / indicator-modding thread.
  • #1,010
  • May 19, 2010 10:50am May 19, 2010 10:50am
Quoting agent6488
Not using the TVI candles: I passed on those because I like using multiple TVIs, and being able to watch the TVIs move or not move on candles that are going against the indications.

Regret: I think it's good you put all the different versions of the indicators out. If you hadn't, the repainting complaints/comments would just be replaced by complaints about the indicators being to basic, and we'd be a programming / indicator-modding thread.
No good deed goes unpunished...
Old Benjamin was right
  • #1,011
  • May 19, 2010 10:53am May 19, 2010 10:53am
Quoting Lou G
No good deed goes unpunished...
and thus capitalism was born
  • #1,012
  • May 19, 2010 11:10am May 19, 2010 11:10am
I'm hanging it up for the day -

Thanks to all who posted complimentary stuff in the last 24 hours - I wish I had time to respond to you individually. Your input is appreciated.
Old Benjamin was right
  • #1,013
  • May 19, 2010 11:52am May 19, 2010 11:52am
Sometime in the next week I'm planning on winding this thread down. We've exceeded 1000 posts which seems to me to be more than enough for a simple method.

Before I finish I'll post a summary of what I've learned about ALF/TVI and point out what has changed since the beginning of the thread (amazingly, not much) along with a final posting of current versions of indicators, templates, etc.

I'm more than pleased by the number of people who have "gotten it" with few problems and whose trading has been improved by the use of ALF/TVI.

I'm also disheartened by the people who are struggling - what I've noticed is that many of you are a bit light in the area of general Forex knowledge (SR, retracements, major trends, etc.) but this comes with time and experience - to be repetitious, I firmly believe that screen time and some study will inevitably trigger pattern recognition and your indecision will become a thing of the past.

The majority of people who trade Forex lose money. I think that part of the answer to making money is to think out of the box and do the opposite of whatever the majority is doing. Since most popular indicators are based on "moving averages on the close", I deliberately did just the opposite - neither TVI nor ALF is based on closing prices and ALF uses no moving averages at all.

I recommend and use M15 timeframe but there have been many examples posted by members using everything from M1 to H4 and having success, thus showing the flexibility inherent in a simple system.
Old Benjamin was right
  • #1,014
  • May 19, 2010 11:59am May 19, 2010 11:59am
Lou,

I wish to express sincere thanks for your efforts in developing this method, its indicators and this thread. All of us are better for it.

To any who are still struggling with this method, try rereading the thread from the begining. If that is to daunting just read Lou's posts. Please remember that you will not win every trade. Try trading the rules exactly. That includes Time to trade, pair to trade, stop loss values and take profit rules. Once you get good at that you can then modify the method as you see fit since you will have a good experience with the core of this method.

Good luck and have fun,

Mark
EllisEdi Moving on to my next trade ...
  • #1,015
  • May 19, 2010 1:06pm May 19, 2010 1:06pm
Quoting Lou G
Sometime in the next week I'm planning on winding this thread down. We've exceeded 1000 posts which seems to me to be more than enough for a simple method.

Before I finish I'll post a summary of what I've learned about ALF/TVI and point out what has changed since the beginning of the thread (amazingly, not much) along with a final posting of current versions of indicators, templates, etc.

I'm more than pleased by the number of people who have "gotten it" with few problems and whose trading has been improved by the use of ALF/TVI.

I'm also...
Thanks to you Lou for thread. I still have hard times but get better ever day Hope you will be near to keep give encourages now and then. Best of trading too you.
  • #1,016
  • May 19, 2010 1:22pm May 19, 2010 1:22pm
Lou,

I started live manually trading in Feb 2010, I lost a healthy portion of my investment. With what I learned then, and what you have provided and taught now, I am building my account back up and am very grateful.

Thanks for the time you've put into this. I have learned from your wisdom and the simplicity of this method.

Glad I could get a couple of posts in before the end of the thread and get a chance to thank you and let you know that your message sank in and is profitable to me.

BTW, I'm down to 4 indicators only and trading with success. (Adaptive Laguerre, TVI_2color, TVI_Candles, and I still have the training wheels on with the Fractal_SR)

Thanks again.

PipsSmith
Blessed is the man who finds wisdom...
  • #1,017
  • May 19, 2010 1:39pm May 19, 2010 1:39pm
hi guys,

how do you color red and green bars. i see you have black white, red and green. ?

BB
  • #1,018
  • May 19, 2010 2:31pm May 19, 2010 2:31pm
Hello people, I attach the original ALF template with black background and text colored light grey. I also removed the objects placed by the large price number and different timeframe values which is not part of the system. My humble contribution to this great system.
Attached File(s)
File Type: tpl alf black.tpl   4 KB | 458 downloads
  • #1,019
  • May 19, 2010 2:46pm May 19, 2010 2:46pm
Quoting Lou G
After this I tried trading long on a retrace and was stopped out...
Hi Lou
Thanks a lot for posting this system .. do u use 12 12 5 setting for TVI or 8 8 5

Thanks
  • #1,020
  • May 19, 2010 3:08pm May 19, 2010 3:08pm
Quoting hoichoi
Hi Lou
Thanks a lot for posting this system .. do u use 12 12 5 setting for TVI or 8 8 5

Thanks
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