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ALF/TVI - Simple, effective daytrading

  • #1,041
  • May 20, 2010 9:05am May 20, 2010 9:05am
Quoting agent6488
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.
Yes, exactly.
Old Benjamin was right
  • #1,042
  • May 20, 2010 9:06am May 20, 2010 9:06am
Picked up 2 good trades. Caught the middle-last surge of the E/U up move that started at 1.2312 for +20 pips and then reentered long on the retracement down at the Fib 50 level for another +15. I'm done for the morning! Thanks again, Lou.
  • #1,043
  • May 20, 2010 9:09am May 20, 2010 9:09am
Entering ONLY on break of Fractal Channel S/R is a step in the direction of avoiding entries in ranging conditions...I suggest, if prev. candle was an up TVI candle enter long on break of FC resistance. Opp. for short. If prev. candle was not an up TVI candle enter long on break of FC resistance if closed candle is an up TVI candle. Opp. for short. The trade off here is that entries, at times, come a bit late. On balance I think waiting for a break is better. I wait.
Vincit qui se vincit.
  • #1,044
  • Edited 9:31am May 20, 2010 9:19am | Edited 9:31am
based on ALF/TVI_Candles and channel break. EDIT: sur l'escalier...ALF/TVI_Candles will far more often than not get us in the mkt. in the right direction. Refining trade mgt., specifically, our exits, should be where our energies are now directed.
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Vincit qui se vincit.
  • #1,045
  • May 20, 2010 9:21am May 20, 2010 9:21am
Well, still trading ALF/TVI, of course but I am far from happy with the performance of the TVI.

IMHO, TVI suffers from the fact that is limited by the use of fixed periods (8,8,5 or 12,12,5, etc). ALF, on the other hand (though it does have LookBack and Median periods), does not use them in a restricive way and is not as sensitive to small variances.

I'm still pretty well sold on the idea of using up/down ticks rather than bar close but I intend to search for a new way of using them - sort of an Adaptive TVI.

If and when I discover a better companion indicator than TVI, I'll start a new thread and share with all of you. Keep an eye out for "ALF" as a part of a thread title with "Lou G" as the author.

To say that I've learned as much from you as I've imparted sounds trite but it really isn't - thanks to all for their participation in this thread. I'm sure I'll bump into all of you around these forums.

Lou G
Old Benjamin was right
  • #1,046
  • May 20, 2010 9:35am May 20, 2010 9:35am
I tried limiting period restriction by using Renko, but it's a little wonky.

The Hull MA moves similarly to the TVI, but I think it's period based.

Thanks for the thread. Good luck.
  • #1,047
  • May 20, 2010 9:51am May 20, 2010 9:51am
Quoting pedross
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
Simple, I was not trading at that time.

Mark
EllisEdi Moving on to my next trade ...
  • #1,048
  • May 20, 2010 11:25am May 20, 2010 11:25am
Quoting Lou G
Well, still trading ALF/TVI, of course but I am far from happy with the performance of the TVI.

IMHO, TVI suffers from the fact that is limited by the use of fixed periods (8,8,5 or 12,12,5, etc). ALF, on the other hand (though it does have LookBack and Median periods), does not use them in a restricive way and is not as sensitive to small variances.

I'm still pretty well sold on the idea of using up/down ticks rather than bar close but I intend to search for a new way of using them - sort of an Adaptive TVI.

If and when I discover a better...
Lou, both indicators are brilliant, the only question is how to trade with them.
I have both indicators on my chart in two versions - one for current and another for higher TF. Try it and you see that you get an absolutely new perspective
  • #1,049
  • May 20, 2010 12:07pm May 20, 2010 12:07pm
Quoting Indrek
Lou, both indicators are brilliant, the only question is how to trade with them.
I have both indicators on my chart in two versions - one for current and another for higher TF. Try it and you see that you get an absolutely new perspective
Lou, I "met" Indrek back on another thread that was focused on MTF trading.

I really believe that if you trade in the direction of the higher time frame trend you will have much better success.

I have a lot of respect for Indrek......so I think his post is one to take note of.

There is no doubt that keeping ones chart as indicator free as possible is desirable.....but knowing the trend of the higher time frame is a must...IMHO

PGPB
  • #1,050
  • May 20, 2010 6:55pm May 20, 2010 6:55pm
Quoting Indrek
Lou, both indicators are brilliant, the only question is how to trade with them.
I have both indicators on my chart in two versions - one for current and another for higher TF. Try it and you see that you get an absolutely new perspective

What are your settings
Thanks
Mombone
  • #1,051
  • May 20, 2010 10:09pm May 20, 2010 10:09pm
I agree that MTF helps keep us in the big trend.

May I suggest the following:

Put TVI_2Color (settings 24,24,15) on your TVI histogram(settings 8,8,5). (all you need do is drag one indi from the Navigator window and place it on top of the other on your charts)

Only take trades when both colors match and ALF gives signal. Used this in AUD/USD 5 min tf Asian market to-day with all winning trades. I like it best when they both change color within a bar of each other.

Works well on trending market. Only issue is you may get late entries.

Pips to all.
Just trade the pullback you idiot!
  • #1,052
  • May 20, 2010 10:11pm May 20, 2010 10:11pm
Mombone,

Take a look at Indrek's #911 post.
  • #1,053
  • May 21, 2010 12:47am May 21, 2010 12:47am
Quoting Joeyd
Mombone,

Take a look at Indrek's #911 post.
I have made a correction and use 32,32,20 instead of 64,64,40.
If one TVI is 8,8,5 and other is 32,32,20 then the difference is 4 times. It is the same than to look at H1 on M15 chart or at H4 on H1 chart.
  • #1,054
  • Edited 3:19am May 21, 2010 2:59am | Edited 3:19am
a quick over 100 pips on eur-jpy
i saw div on stoch big reversal candle on m5 and enter on break fractal
nice text-book entry ! such a shame that still on demo

edit
same situation was on eurusd but i was not watching
Attached Image
  • #1,055
  • Edited 7:31am May 21, 2010 6:37am | Edited 7:31am
i belive that was vailid signal too we will se for now +34 and +38 on 2 transactions
div on m15 (yellow) second div on m5(blue) and doubletop on m5
the most important - croos alf, tvi red ready to go !
i was a litle afraid of this yellow trendline but its a second leg? and risk/reward was good enought for me

edit
first out at +40
second sl to the alf line (about +5) and we will se

edit 2 i was right second +70for now
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  • #1,056
  • May 21, 2010 6:52am May 21, 2010 6:52am
Details on my set up.
HMA at period 14.
TVIs at 8,8,5 and 24,24,5.
Overlay 2nd TVI by opening the Nav window with Ctrl+N and dragging a second TVI over the first's window.
ALF at 20,1,4.
Attached File(s)
File Type: ex4 HMA_Color.ex4   4 KB | 451 downloads
  • #1,057
  • May 21, 2010 7:23am May 21, 2010 7:23am
Quoting Batavier

Works well on trending market. Only issue is you may get late entries.
Started taking a closer look at M5 after your post. Seems to work well with a break, a little retrace to ALF and a continuation. 24,24,15 seems to filter out the retraces. Maybe take a look at 24,24,5 for more active entries.
Good spin on the system
  • #1,058
  • May 21, 2010 8:20am May 21, 2010 8:20am
Quoting bbolss
i belive that was vailid signal too we will se for now +34 and +38 on 2 transactions
div on m15 (yellow) second div on m5(blue) and doubletop on m5
the most important - croos alf, tvi red ready to go !
i was a litle afraid of this yellow trendline but its a second leg? and risk/reward was good enought for me

edit
first out at +40
second sl to the alf line (about +5) and we will se

edit 2 i was right second +70for now
Hi bbloss

can you please post your fractal indicator.

Thanks
Make money Not pips
  • #1,059
  • May 21, 2010 8:30am May 21, 2010 8:30am
its here posted by Lou
http://www.forexfactory.com/showpost.php?p=3703004
  • #1,060
  • May 21, 2010 11:47am May 21, 2010 11:47am
Quoting pgpb
Lou, I "met" Indrek back on another thread that was focused on MTF trading.

I really believe that if you trade in the direction of the higher time frame trend you will have much better success.

I have a lot of respect for Indrek......so I think his post is one to take note of.

There is no doubt that keeping ones chart as indicator free as possible is desirable.....but knowing the trend of the higher time frame is a must...IMHO

PGPB
Sorry I did not reply sooner - I "know" Indrek as well (had a PM on this subject).

There are many ways to skin the Forex cat and the use of MTF indicators is well-known and used by many. At this point, I prefer to switch TF's to see the larger trend. Nothing against those who prefer MTF. I try very hard to be a devout pragmatist
Old Benjamin was right
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