THV system, final edition

Okay I try a trade some minutes ago around 8h30 GMT+1

Get the short signal and SL got touched. As I'm writing the TP GU would have been touch if I've set the SL higher but that's not the point.

Was the trade entry right ?

I followed the rules of the MTF on a M1 chart.
Wait for 6 red ou green, PA above or bellow coral.

As the SL was touched, there was a BUY signal too. Was this one OK ?

Thank you for your help.

Look at your pictures again.
First SAH and second SAH are the SAME.
The was an error in original template.
Second SAH should be like this: M15 slow, M30 fast. M30 slow, H1 fast.

Oh dear god !!!
I used the template given in the install without questionning if the parameters were originally correct...

Thank you.
I'll continue post some of my trade for analysis. I think it will help beginners like me

Would you by chance have the template with the correct second SAH?

If not how do you enter these parameters into the indicator/s
Cheers

Friend ...

As a beginner and trying 1M, little difficult.

Try THV with higher timeframe, can get more time to analyse before taking entry...[In your chart just maintain Trix, Coral , Ichimoko, Infopanel & Pivots]

Once you can trade with higher TF, then move to Lower TF and add all conditions ...

This my personal suggestion...
Happy Trading ...
Arun...

Friends ...

I am basically lazy ... I have bored to see HA, Trix, Adx and EMA bands individually... so I created #iS Candles , It takes everything...

It calculates HA, Trix Condition, ADX up/down, and EMA band/Coral....

I wont include ichimoko ,because ADX doing ichimoko's job little efficient...

Currently It looks single Timeframe ... MTF version creatd soon....

Just look the color change and place the entry ... happy na ...

Just a sample picture .... Under beta test ... Revealed Soon...



In picture some Arrows are showing , thats my other testing....

Happy Trading ...

Arun...

for those using cavemanager,

how do you feel about the capital protection? i have mine set to 5 right now. but i do find it limits my profit somewhat. then again, sometimes, it does protect me somewhat as well.

any thoughts.

There is a manual for trading the MTF lights that came with V3 and those rules havent changed. The manual does state the correct params and also that these rules were only tested for the 1m EURUSD. I don't know if anybody else has tested them for the GU. The reason that they work for the EURUSD is because it is a behemoth that usually needs a lot of time to turn around so once you get the 1m fast trix and the 5m fast trix supported by the higher tf trixes you can usually get 10 pips. Of course, as has been stated many times, you also have to do your own analysis when you get a signal regarding where you are with respect to pivots, support/resistance, daily range, etc.

I devised and tested that system, and I would like to point out that I don't use it exactly the way it is explained in the manual anymore. First of all I don't take those trades anymore if they are against the rainbow trend, only the ones that are with it.

Second, at the time I didnt know that there was an mtf trix that you can actually see on the one m chart. Since finding that, I have discovered that some of the 6 lights trades are better than others. For exampe, you get the 1 trix crossing up near a fresh 5m cross with a nice distance between the lines and also near a fresh 15 m cross with a nice distance between the lines, the odds are much better than say, for the fourth 1m trix cross up on the fourth 5m trix cross up for the same 15m trix cross.
So I find it pays to be able to see the trixes themselves on the chart.
Here is an example. The trade at the first green line shown is one of my favorite setups - 5 trix is newly crossed up, 15m trix is newly crossed up, both in direction of a double rainbow flip, and then you get a signal from the 1m trix. The 1m trix fast up signals just to the right and just to the left of the green line also work because the 15m trix color change is fresh. The second trade at the black line shows an example of a failure. Even though you would have six points here it fails because the 5m trix up part of the signal occurs two far into the 15 m trend and too far after the reversal.

More points to clarify: The stops for the EU are 15 pips PLUS spread or ATR suggestion whichever is higher and 10 pips target plus spread or .7 of the ATR suggestion if the stop is higher based on a higher atr. That is plus spread and as far as I can see if you used those then you would have been ok if you went short at 8:30 GMT plus 1. However, you may need to modify the stops if you are trading the GU to adjust for its greater volatility.

For either of them you have to take volatility into consideration. The 15/10 stop and target for the EU are based on an ATR in the THV info panel of about 10 -15 which is where it is most of the time during the London session. When that goes up you have to adjust the stops.

And lastly, unless you get a very strong signal you shouldnt take a trade right on top of R1.It is better to wait for a break and retest, and then sell the retest. (For me that would mean a double rainbow flip, new 5m trix cross, new 15m trix cross, nice spreads, and even then I'd probably like to see a retest).

I like your detailed explanation above. I also agree with you, I like to actually see the Trix cross. As you stated "So I find it pays to be able to see the trixes themselves on the chart".

I cannot find that THV3 MTF Trix you have on your chart showing the actual lines instead of the histo, if you could please direct me to it.

Thank you and regards,
Cigarguy

Thanks! I did reply to your PM but it should be here in the zip file in this post.
It's in here among other places
http://www.forexfactory.com/showpost...ostcount=21107

Thank you!

Hello,

first off, as a newbie I wanna thank everybody who made this very interesting thread possible!

May I ask you what you think about my trade with MissPips' rainbow template? Do you think that trade was reasonable enough? Or was it too risky?

Thank you & best regards

No its quite fine. What you have there is a head and shoulders reversal pattern ( you can see it a bit more clearly on the 5m chart or if you zoom out) and you sold the first top after it which is a good thing to do. Having the 15m trix crossed down together with the 5m crossed down with a nice distance between the lines on both of them is a strong signal when PA is also matching especially if you get a break and retest of support. The rainbow you have there in the chart is actually two rainbows - the 1m and the 5m. With strong signals and a good reversal pattern you can trade just the one minute rainbow also.

is it that what you mean by "head and shoulders reversal pattern"?

Good idea Arun.

Yes. You can see it better on a 5 m chart actually because the LS is complex. There are a few more points I like for this pattern which is divergence and one LL and LH after it. As it starts coming down after the second LH that is a great place to sell, which is what you did. Inside the Complex LS you can see another H&S pattern that also has a LL. But it doesn't have the second LH, the next high is a HH.

Thk Tread, this is a great book : ADXcellence_Power_Trend_Strategies_Charles_Schaap. I learn a lot form it. By the way, can sb tell me which ind point out Piot High/Low OR the ways to regconize them easily.
Thkx in advance

to arunsideas: how about this strenght cluster indicator http://www.forexfactory.com/showthre...116412&page=96

Hello friend...

If you want to ask me anything PM me... this forum already fully loaded and dont want to make overload it again...

See previous posts of mine .. I thing you may get something ..

Arun...

Today's trade



Server time GMT +1

Considerations:


1. Recent double rainbow flip with colors starting to show nicely on both rainbows

2. Recent 5m trix cross

3. Support at R1 broken and tested

4. Lower trendline of triangle broken and retested.

I took the trade even though both lines of the 15 trix had only turned red but not crossed down because PA had been in a tight range and I could see from the rainbow, the trix and the adx that downside momentum was starting.
I had to wait couple of bars after two large bars down for a couple of pips of upticks so that there would be enough room for the first lot of the trade to get 10 pips between it and the dark blue MA which is the daily median and often gets a bounce