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ALF/TVI - Simple, effective daytrading

  • #1,081
  • May 28, 2010 7:53am May 28, 2010 7:53am
Quoting bbolss
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?

A quote from Lou's first post on the TVI indicator

"TVI measures the relationship between incoming ticks for a given volume. If upticks outnumber downticks the TVI rises, and vice-versa."

Because of the math involved price can go up and TVI can go down.

TVI is very basically a moving average of the up ticks and the down ticks. More acurately it is an EMA of a double EMA (a Triple EMA?) of Volume. You can see the math calculation in the MQ4, it is pretty simple as far as indicators go.

So, Why can TVI go down when Price goes up? Since it is a Moving Average, if the previous bars had a lot of volume down, and the bars in question (going up) have very little volume ... price could go upwards while TVI would be going downward.

This is a simplified explanation. There are other scenarios when this kind of behavior can happen.

Mark
EllisEdi Moving on to my next trade ...
  • #1,082
  • May 28, 2010 7:55am May 28, 2010 7:55am
yes i known it but why rebelheart have this candles green and me not?
  • #1,083
  • May 28, 2010 8:20am May 28, 2010 8:20am
Quoting bbolss
yes i known it but why rebelheart have this candles green and me not?
Hello bbolss,my candles are too with rebelheart for that time.
  • #1,084
  • May 28, 2010 8:53am May 28, 2010 8:53am
Sorry, I misunderstood the question.

The Volume function in MT4 is a contraversial issue. It can be radically different for different Brokers. It shouldn't be, it just is. Most Brokers have similar volume numbers reporting in the platform.

As you can see on my chart is different also. The only way to tell for sure is to pull the Volume data from each platform from that time period. A lot of work to verify something we already know.

This is probably one of the reasons Lou is looking for a different filter for the Alf entry system.


Mark
Attached Image
EllisEdi Moving on to my next trade ...
  • #1,085
  • May 28, 2010 9:08am May 28, 2010 9:08am
Attached is the "Basic" Chart for that time period (from FXDD) you were asking about.

As you can see (in my highlights), If you Check the value for the TVI (by running the mouse over the indicator for each bar) you can see that it barely goes upwards on my chart for those to candles near the top of the swing. If you brokers volumes are a liitle bit different then yours may actually never turned up a bit.


A larger Broker will probably give you a better data sample in Volume.


Mark
Attached Image
EllisEdi Moving on to my next trade ...
  • #1,086
  • May 28, 2010 1:50pm May 28, 2010 1:50pm
yep it is a litle diffrent
strange
i didnt know
i thought that it is global and the same for all brokers :|
Attached Image (click to enlarge)
Click to Enlarge Name: tvi.gif Size: 24 KB
  • #1,087
  • Jun 1, 2010 8:12am Jun 1, 2010 8:12am
Quoting EllisEdi
This is probably one of the reasons Lou is looking for a different filter for the Alf entry system.
Yes, exactly. Moving averages can be very helpful - IF you understand how they work and what they are telling you.

I'm close to creating a new entry method for ALF that uses no moving averages at all - beginning today, I'm at the "putting in screen time" phase, watching the new method work and looking for ambiguities, problems and outright errors. Coming soon to a forum near you...
Old Benjamin was right
  • #1,088
  • Jun 1, 2010 8:17am Jun 1, 2010 8:17am
Happy to still see you here LouG Thx to you for all hard work for us benifits
  • #1,089
  • Jun 1, 2010 8:46am Jun 1, 2010 8:46am
Lou, I continue to be profitable using the method on M30....here's a link to two winners this morning http://clip2net.com/page/m0/6113257
Isolate yourself from the herd
  • #1,090
  • Jun 1, 2010 9:51am Jun 1, 2010 9:51am
I will start a new (and improved) ALF thread later today.

See you all there,

Lou
Old Benjamin was right
  • #1,091
  • Jun 1, 2010 9:59am Jun 1, 2010 9:59am
Hi Lou G
Thanks in advance
You are starting a new thread or in the same one?

Best regards
gopsat
  • #1,092
  • Edited 11:56am Jun 1, 2010 10:37am | Edited 11:56am
Well almost...as in,"Month of Trades," post, but exiting on pos. HA close below ALF, and neg HA close above. In pips...A/U,+634. A/J,+577. G/U,+17. G/J,-52. E/U,+735. E/J,+265. Total,+2176 for the month. Sooooo, IMHO, a great deal of filtering is not necessary to trade profitably with ALF. The very little filtering I do, mostly discretionary, improved results by about 10%. The UGLY G/J chart..EDIT:Math check revealed G/U +17, not +46.
Attached Image (click to enlarge)
Click to Enlarge Name: bb.gif Size: 23 KB
Vincit qui se vincit.
  • #1,093
  • Jun 1, 2010 10:55am Jun 1, 2010 10:55am
Looking foward to your new slant on ALF. Lets' get rich enough to build hospitals and schools in poor countries, while still driving around in Lambo Gallardos!!!
Vincit qui se vincit.
  • #1,094
  • Jun 1, 2010 11:10am Jun 1, 2010 11:10am
Quoting Pippopotamus
Looking foward to your new slant on ALF. Lets' get rich enough to build hospitals and schools in poor countries, while still driving around in Lambo Gallardos!!!
I agree very much pippo
  • #1,095
  • Jun 1, 2010 3:57pm Jun 1, 2010 3:57pm
Quoting Pippopotamus
Looking foward to your new slant on ALF. Lets' get rich enough to build hospitals and schools in poor countries, while still driving around in Lambo Gallardos!!!

well said about giving to charity and creatign avenue for people to help themsselves PIPPOPOTAMUS... also you have done an amazing job with your success in trading this method.
  • #1,096
  • Jun 1, 2010 7:37pm Jun 1, 2010 7:37pm
I would LOVE an EA or script to put on a chart where I've already entered a trade that will close that trade when a candle has changed color. This exit strategy working quite well on m30
Isolate yourself from the herd
  • #1,097
  • Jun 10, 2010 1:15am Jun 10, 2010 1:15am
Quoting Pippopotamus
Well almost...as in,"Month of Trades," post, but exiting on pos. HA close below ALF, and neg HA close above. In pips...A/U,+634. A/J,+577. G/U,+17. G/J,-52. E/U,+735. E/J,+265. Total,+2176 for the month. Sooooo, IMHO, a great deal of filtering is not necessary to trade profitably with ALF. The very little filtering I do, mostly discretionary, improved results by about 10%. The UGLY G/J chart..EDIT:Math check revealed G/U +17, not +46.
Nice work!

The only thing I'm using to filter ALF trades is volume. If volume is above average when price action closes above or below ALF, then I take the trade. If average or below I don't. Seems to filter out the moves that immediately cross back over ALF and create rangey situations.

Use the Better Volume 1.4 MT4 indicator - it provides an average volume line to measure against.
  • #1,098
  • Jun 11, 2010 3:25am Jun 11, 2010 3:25am
Quoting f451
Nice work!

The only thing I'm using to filter ALF trades is volume. If volume is above average when price action closes above or below ALF, then I take the trade. If average or below I don't. Seems to filter out the moves that immediately cross back over ALF and create rangey situations.

Use the Better Volume 1.4 MT4 indicator - it provides an average volume line to measure against.
Will take a look at BVI.
Vincit qui se vincit.
  • #1,099
  • Jun 11, 2010 8:51am Jun 11, 2010 8:51am
For those who wish to come up to speed quickly with just Lou's postings I have attached all of his posts in an HTML file. I have it as a pdf as well but it comes to 6 megs and too large to attach.

The html file will look just like this forum but only Lou's posts will be there.

I had to attach it as a zip file. So just use winzip and unzip it.
Attached File(s)
File Type: zip Lou G.zip   107 KB | 2,313 downloads
  • #1,100
  • Jun 11, 2010 9:22am Jun 11, 2010 9:22am
hello f541,

I hope you can help me.
Where can I find the better volume V. 1.4? and how do you intepret the indicator? I am sorry, I have nver use this indicator before. Thanks again and hope you care to explain.
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