ALF/TVI - Simple, effective daytrading

Looks good. We keep on improving Thanks.

HI Lou,
have been an avid follower of this thread and just wanted to thank you for all your efforts. This system when used with good basic trading knowledge is a brilliant method..
Hope you post a few charts here and there for posterity...

Thank you!!

Lou,

i think i found a problem with the TVI_histogram.

there is an alarm on it. which i always use to alert. however the Alarm will not always work.

it always has to do with the upswing. when line goes up. sometimes it works. sometimes it does not.

does it maybe have to do that different pair changes at the sametime and it will only alarm the first pair?

Good morning all, Lou, I really want to thank you for this thread, it has been the difference between winning and losing. I working out the bugs on a quick and easy 100/day scalp and I thought I would throw it out there for a look.
Open up EURJPY, GBPJPY, AUDJPY and either CADJPY or CHFJPY. If you notice that they all trend almost exactly the same at the same time. (The JPY's have a ADR of >200pips/day so a decent move is almost always given) I am using the 5M charts with: TVI-color bars, ALF (8,8,5), the non-lag ma previously provided in this thread (thanks a ton!!!) and a 14LWWC moving average. I have noticed that at the open of the new york session (8am EST) there is always a big move. I enter on that move when the signal dictates and have checked for S/R
Entry rules LONG: Close of Green Candle, above a green Non-lag Ma, above the 14 LWWC ma. (PA does not have to be above the ALF). Take Profit is 25 pips or use the moving stop loss.
Moving stop loss: Which ever is lower either the ALF or the 14 LWWC ma (or if you hit support)
Reverse for SHORT
I find that since all four JPY's all trend about the same you can hit all four at the same time, 25 pips for 4 charts, and voila you get your 100/day and it takes less than an hour and you don't have to watch charts going up vs charts going down.
(incidentally, I am trying this same technique out at 8pm EST and it is working the same way)

Good luck to all, and again, thanks for sharing!

Hi Dovetrader

Thanks for your post.
A couple clarification questions.
I am assuming you have TVI set as 8,8,5 , not ALF....is that correct?
I understand that you have a 14 period Linear Weighted MA to the close .....and it sounds like you also have a second non-lag MA .....what are the settings for that?

Good for you ....100 pips a day is fantastic......if it ain't broke....don't fix it.....and please do not interpret this as criticizm......but since all pairs are trending the same way....why not just open 4 positions on one pair?

Best wishes!

PGPB

Hello DoveTrader and thx to u for sharing. Woud u mind to share youre template plz?

What's the point of having ALF on your chart if your not going to trade according to rules of PA needing to be above or below ALF to qualify your taking a trade?
Your just throwing on MA's and taking trades according them. Nothing new about MA crossover systems.
PGPB...also asks a valid question...What's the point of breaking up the trade over several pairs that are supposed to mirror each other?
I can't see the benefit...defeats the purpose of focusing on PA to place a trade.

i guess at more pairs its less chance that something will go wrong?
let say that eu and eg is going same way up ok 2 trades
and now something will hapend in london anything and gpb will fall down and noono will known why bur eu will go still up?
so you have at end one win and one lose
and if you would take 2 positions on eg you are at 2 lose?
em i right?

Think about it vice versa - what if in this case something bad happens to EUR?
The most risky way to trade is to enter to the same direction with highly correlated pairs. Remember that chance of failing is always 50:50.

hmmm
yes you are right
my mistake;]

i must think about that

I think the long entry here is a 200+ pipper using this sytem on m30, and its STILL GOING

Oops, did I stir up the pot? If so, I am very sorry, it was not my intention. I am just a firm believer in the law of reciprocity. I have taken from all of you (this entire system), and I feel I need to give back. I have made my posts (the only posts I have made on this site) because I feel that what you all have created is truly a good system and I am only trying to offer proof that your work is a success and to someone new, or new to this thread, I merely want to let them know that you guys really do know what you are doing and that there is the possibility of wins with this method, if not the possibility of hope to struggling traders.

I trade these four correlated pairs mostly because the thought of four times the lots on a single pair scares the begezzes out of me. This is also the reason why some traders watch more than one pair at the same time. They also don't want to put all the pips in one basket. I just prefer to watch four that I know trend the same way. Also there is slight timing offset on the four pairs and I can often get a slightly better entry/exit with watching all four pairs. I have a limited time to trade and I feel that knowing that I can do the work of all day in just a short time, my kids are much happier. Also I don't have to guess the direction of four or more different currencies, some going up and some going down all at the same time. Oh sure the trade can go against you, that is the nature of the beast, however that is the reason that we are trying to use this method am I right? We are all on this tread because we believe that there is the possibility that this method is offering us the greatest probability of good trades, with a good indication of when to get out.
I am not trying to take this thread in a different direction as to the rules, but rather try to offer my rules. I have read the entire post and there is numerous posting of traders wanting exact entry and exit rules. I was only trying to make mine available and as "cookie cutter" as possible (that is what we all want right-exact rules). From what I can remember in the thread that there has been multiple accounts of the role of PA vs Alf. I believe that there has been no real consensus as to PA having to cross the ALF. I personally feel that to wait for PA to close on the right side of the ALF you can wait too late to get in the trade. Especially if you are only trying to scoop up 10 pips.
As to the addition of the 14LWWC ma, that is just my personal twist on an already excellent method. It helps me filter out the fake outs. I feel that sometimes the ALF is a good stop, sometimes the 14LWWC ma works better. When I have looked back at the market action, I feel that on these currencies, at the time that I am trading, using which ever is lower on a long trade(the MA or the Alf) gives me good wiggle room and not get stopped out. However, if the PA crosses both of these then for me it is time to bail.

I hope this helps, and again, I am sorry if I am out of line. I am new to posting (not to reading) and I am really just trying to earn my keep by not just taking but trying to offer something that might help someone else. I personally feel that every comment is helpful to some and useless to most. All we can do is to try to help the ones we can and respect those who are at a different level than we are.

Oh, here is my template, take it or toss it. I will never know, but I feel that I am doing my part.

To the greatest success to all traders regardless of how they obtain it!

Hmmm???...
Sorry for jumping on your comments so quickly...maybe I should have taken a Midol...cramping up and all that...

I see your points...well stated...hope you'll continue to contribute here...
Appreciate your taking time to share.
See ya in the trenches...
Cliff

Can you post few screenshots of your trades? That will help all of us.
BTW you are not stirring up any pot, but just adding your flavour to an already brilliant system by Lou. Thanks.

Just slurped 50 pips off this EJ short. Resistance had been broken a few candles prior so I figured the short was low risk. I trade m30 because the moves are robust and less head fakes than smaller TF. TP is usually the next pivot from the entry. Here it hit the tp, but I lost my nerve at +50 and closed. Thanks Lou for a system so easy even a weasel can do it.

hmm Lou why it is showimg here like that? is it correct?

.

setting are the same!
do you have this candles green insteod of white like me? check your m15 if You can?

Here u go

this is realy strange ! i have settings 8 8 5 !
i have loaded a clear chart and only tvi ! and it is clearly down here for me ? why? Lou are you still here?
can it be something with my broker ? i use fxpro?