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ALF/TVI - Simple, effective daytrading

  • #1,021
  • May 19, 2010 3:31pm May 19, 2010 3:31pm
Hello Lou G,

do you have mql file from TVI-histogram?

Regards
j_l
  • #1,022
  • May 19, 2010 3:48pm May 19, 2010 3:48pm
Quoting Meta1
Hello Lou G,

do you have mql file from TVI-histogram?

Regards
j_l
Read previous post #1020
  • #1,023
  • May 19, 2010 7:34pm May 19, 2010 7:34pm
Looks like the hourly may be fixin' to roll over
  • #1,024
  • May 19, 2010 8:37pm May 19, 2010 8:37pm
I just wanted to drop by and say thanks for sharing your system with us.

As a relatively new trader I found it easy to find myself in information overload. MA's, Pivot Points, S/R lines and indicators all over my screen, it was messy and incomprehensible. Over the last few weeks this system has greatly helped me to not only identify market movements but even more so I've gained confidence in what I'm doing. Easy enough for the noob to understand, deep enough to spend time mastering. Good stuff.

Thanks man.
  • #1,025
  • May 20, 2010 1:57am May 20, 2010 1:57am
thats it ! took half at +20 ans second hals let run sl to be!

in thinkink about deleting this stoch mtf from my charts mayby with time for now i like it for conformation ;]



edit
yeah second tp reached at +50 incredible !
Attached Image
  • #1,026
  • May 20, 2010 2:34am May 20, 2010 2:34am
end now realy nice retrace to 61 fibo and extra +30 !
if i play real i should sayed that im done for tooday! ;d but on demo still in a game ;]
Thanx Lou again! just a week or two more practising it and i go live;]
again BIG thanx to Lou !
Attached Image
  • #1,027
  • Edited 3:32am May 20, 2010 3:02am | Edited 3:32am
Quoting bbolss
thats it ! took half at +20 ans second hals let run sl to be!

in thinkink about deleting this stoch mtf from my charts mayby with time for now i like it for conformation ;]



edit
yeah second tp reached at +50 incredible !

Hi,
I'm study this system and I hope to do good trades.





In this trade I would wait for a pullback but I was wrong.
Now I'm long on AU, I hope it isn't a retracement.

Can you post your SL-TP ea please?


...The AU was a retracement but I was at BE.
  • #1,028
  • May 20, 2010 3:07am May 20, 2010 3:07am
Quoting bbolss
end now realy nice retrace to 61 fibo and extra +30 !
if i play real i should sayed that im done for tooday! ;d but on demo still in a game ;]
Thanx Lou again! just a week or two more practising it and i go live;]
again BIG thanx to Lou !

Here are you entered after the close of the previous bar or at the break the level 23?
  • #1,029
  • May 20, 2010 3:23am May 20, 2010 3:23am
Quoting Pipsnator
Here are you entered after the close of the previous bar or at the break the level 23?
i have re enter at .23801 - break of big number i did it on m1 and draw this fibo on m1 for better view just screenshot from m15

here its ea - it is great stuff - you can move sl/tp with doubleclick just like horizontal line ! it have some bugs sometimes you have to turn off ea and on again to make it work but its nice and helpfoul !

im working to make it a litle better with no comments marks on chart etc but work in progres
here its original version found somwhere in google
Attached File(s)
File Type: mq4 SL-TP_move-by-Mouse.mq4   17 KB | 803 downloads
  • #1,030
  • May 20, 2010 3:30am May 20, 2010 3:30am
Quoting bbolss
i have re enter at .23801 - break of big number i did it on m1 and draw this fibo on m1 for better view just screenshot from m15

here its ea - it is great stuff - you can move sl/tp with doubleclick just like horizontal line ! it have some bugs sometimes you have to turn off ea and on again to make it work but its nice and helpfoul !

im working to make it a litle better with no comments marks on chart etc but work in progres
here its original version found somwhere in google
Ok thanks
  • #1,031
  • May 20, 2010 3:57am May 20, 2010 3:57am
Quoting bbolss

here its ea - it is great stuff - you can move sl/tp with doubleclick just like horizontal line ! it have some bugs sometimes you have to turn off ea and on again to make it work but its nice and helpfoul !

niiiice ...
Lorenzo
  • #1,032
  • May 20, 2010 4:49am May 20, 2010 4:49am
Quoting bbolss
i have re enter at .23801 - break of big number i did it on m1 and draw this fibo on m1 for better view just screenshot from m15

here its ea - it is great stuff - you can move sl/tp with doubleclick just like horizontal line ! it have some bugs sometimes you have to turn off ea and on again to make it work but its nice and helpfoul !

im working to make it a litle better with no comments marks on chart etc but work in progres
here its original version found somwhere in google
Now, that is Great===thank you!
  • #1,033
  • May 20, 2010 8:06am May 20, 2010 8:06am
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.

Thanks, Lou, for sharing this system and going so far to help everyone out here learn it. You're a good guy.
  • #1,034
  • May 20, 2010 8:08am May 20, 2010 8:08am
All indicators I have created for this method are open source. To find the indicators, click the paperclip icon at the top of any page, then click "hide images" to get rid of screenshots. Be sure to download the most recent version.

Copy the source code to the yourmt4/experts/indicators folder, then shutdown and restart mt4. This will cause a re-compile of all indicators that have been changed since the last mt4 session.

Use the same procedure for templates, but copy them to the yourmt4/templates folder and do a shutdown/restart.
Old Benjamin was right
  • #1,035
  • Edited 8:20am May 20, 2010 8:14am | Edited 8:20am
An Easy Trade, Price crossed upwards over ALF, TVI pointed in right direction (up). The previous session had kinda been ranging. Stop Loss and TP both set at 20 pips.

I did wait till previous high of 1.2350 had been broken by a closed candle before entering in order to make sure price was actually going to continue upwards presumably to retest the 1.2400 area. The previous candle (opened around 1.2345) could have been an excellent entry candle. I waited because price is in such a strong downtrend over the last couple of weeks and price will sometimes hesitate at round numbers like that end in 00 or 50. I was willing to let this be a missed trade in order for confirmation.



A quick +20 pips
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EllisEdi Moving on to my next trade ...
  • #1,036
  • May 20, 2010 8:19am May 20, 2010 8:19am
I originally thought this method would be pretty self-explanatory (and said so in post #1). It was that way for some but not for all, and I posted some general rules in post #7. The only rule that has changed is the very first one:

"Don't trade when either line is horizontal, particularly when ALF bisects PA".

Revised through experience to:

"Don't trade when ALF is more or less horizontal and bisecting PA".

Bisecting does not necessarily mean "passing through the body of each candle" - it also means "passing through a group of candles which are alternately above/below ALF". I think everyone gets the idea of this rule - when PA is in a tight range, wait for something better to happen...
Old Benjamin was right
  • #1,037
  • May 20, 2010 8:40am May 20, 2010 8:40am
18 pips AUD/JPY. Felt out the M15 range and took a scalp short in M1. Quick TP since M15 wasn't really agreeing. Good tactic for when the trend isn't clear and the higher time frame TVI is idling.
Attached Image (click to enlarge)
Click to Enlarge Name: sc.jpg Size: 25 KB
  • #1,038
  • May 20, 2010 8:53am May 20, 2010 8:53am
There are some essentials for success trading this method.

Trading Time - if you trade during the busiest times of the day, you increase your chances of finding good setups. The first half of each of the three major sessions is best - London, New York, Asian, in that order.

Time Frame - this method is being traded successfully on TFs from M1 to H4. Be aware that longer TF will require larger stops.

Stop Loss - the original rule was, "slightly on the other side of ALF from the direction of the trade". This still holds good, but use common sense - if PA is 50 pips below ALF and you are contemplating a short, ask yourself why you did not enter sooner. If you are trading a retracement, just above/below the top/bottom of the retrace is a good spot for a stop. Be flexible and trade on a TF you can afford to trade.

Exits - if PA returns to ALF almost immediately after you trade, close the trade! Every method has losers. If you are fortunate and the trade becomes a swing or trend move, ALF will begin to follow PA. The closer ALF gets to PA, the more likely that a change in direction (either a retrace or a reversal) is coming. It's okay to take profits when this happens - there will be another trade or re-entry coming up. Same thing if TVI changes direction.
Old Benjamin was right
  • #1,039
  • May 20, 2010 8:57am May 20, 2010 8:57am
Hi EllisEdi

A quick question regarding your last post (1035), what prevented you taking a long 5 bars prior, when PA crossed upwards over ALF?

Cheers

Pedross
  • #1,040
  • May 20, 2010 8:59am May 20, 2010 8:59am
Quoting Lou G
If you are fortunate and the trade becomes a swing or trend move, ALF will begin to follow PA. The closer ALF gets to PA, the more likely that a change in direction (either a retrace or a reversal) is coming. It's okay to take profits when this happens - there will be another trade or re-entry coming up. Same thing if TVI changes direction.
I've observed that when the ALF is steep with a trend price will ride it in the same way that occurs in bollinger band and MA trading.
It contains the retraces until a significant retrace/reversal becomes likely as you mention.
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