This time I will share THV trading strategy contribution from cobraforex. A simple template display even an amateur trader will easily use it as a trading strategy. Colorful indicators such as cobra snake making chart on the computer monitor to be comfortable on the eyes.
The result is a clean and functional chart with rules that allow relative secure trades and early entries. I experienced a hit rate of about 70 to 80% of winning trades; this result depends on the trading skills of every trader. The THV team tested this system only on 1M and 5M time frame but it should work as well in higher TF’s but we don’t have experience on that trading style. THV is not a click and forget system, neither a holy grail. Like any other system, it requires good Forex skills and basic knowledge of FX techniques together with a good MM
The result is a clean and functional chart with rules that allow relative secure trades and early entries. I experienced a hit rate of about 70 to 80% of winning trades; this result depends on the trading skills of every trader. The THV team tested this system only on 1M and 5M time frame but it should work as well in higher TF’s but we don’t have experience on that trading style. THV is not a click and forget system, neither a holy grail. Like any other system, it requires good Forex skills and basic knowledge of FX techniques together with a good MM
The template and Trix functions
The Trix is the heart of the system and show us early possible trend changes on cross of faster to slower Trix line. This indicator gives warning labels:
The Bear or Bull Cross on cross of the faster Trix line to the zero level.
The Analyze Sell or Buy on cross of the faster Trix line to the slower Trix line.
The Analyze Exit (not shown here but direct above the Analyze Sell label in yellow) on color change of the faster Trix line.
Those signals have also voice support but it is disabled by default and you should enable it only to your favorite chart TF.
These are not buy, sell or exit signals, they ask for attention to analyze !!!
The Trix shows, like in the above example, divergence, watch that out always, it’s a money maker.
The Bear or Bull Cross on cross of the faster Trix line to the zero level.
The Analyze Sell or Buy on cross of the faster Trix line to the slower Trix line.
The Analyze Exit (not shown here but direct above the Analyze Sell label in yellow) on color change of the faster Trix line.
Those signals have also voice support but it is disabled by default and you should enable it only to your favorite chart TF.
These are not buy, sell or exit signals, they ask for attention to analyze !!!
The Trix shows, like in the above example, divergence, watch that out always, it’s a money maker.
Here the settings for your main chart, on the other ones enable/disable SoundAlerts (type true/false).
About divergence detection in Trix (code modified by Peterd) :
This indicator will plot divergence lines on the Fast Trix indicator and will give buy and sell signal by displaying green and red arrows. It also has a built-in alert
function. As the original indicator, bullish divergence is plotted in blue lines while bearish divergence is plotted in red. If the divergence is classic the line will be solid and if the type is reversed the line will be drawn in dots.
This indicator will plot divergence lines on the Fast Trix indicator and will give buy and sell signal by displaying green and red arrows. It also has a built-in alert
function. As the original indicator, bullish divergence is plotted in blue lines while bearish divergence is plotted in red. If the divergence is classic the line will be solid and if the type is reversed the line will be drawn in dots.
The Ichimoku cloud gives us the decision on which direction to trade, above only long, below only short. The THV Trend is in the lowest part of the workspace and indicates with colored bars the condition of the trend, be alerted when it changes to yellow (flat) because a trend pause or change can be on the plan. The Stop loss indicator is located on the very top left side of your main chart. It calculates the SL on the last moves based on ATR and give you an idea what could be your min. SL on the actual TF you are looking at. You can use it as well as a TP indicator while scalping, if the SL suggestion in 1M says 16 pips you can get a relative secure 8 pips scalp trade.
The Session indicator on the left upper corner of our chart needs to be synchronized with your brokers time, here is a web link to the Forex world session hours: Forex Hours only set the time shift to the difference that your broker time zone has to GMT, for example GMT -3. You can change the font size for the labels in the last position of the properties window.
The Session indicator on the left upper corner of our chart needs to be synchronized with your brokers time, here is a web link to the Forex world session hours: Forex Hours only set the time shift to the difference that your broker time zone has to GMT, for example GMT -3. You can change the font size for the labels in the last position of the properties window.
Why Heiken Ashi Candles?
There are five primary signals that identify trends and buying opportunities:
There are five primary signals that identify trends and buying opportunities:
- Positive candles (green) containing no wicks: There is strong uptrend momentum in the session and it will likely continue. Here, the trader will have a hands-off approach to profits while strongly considering adding on to the position. Positive candles with no lower "shadows" indicate a strong uptrend: let your profits ride!
- Positive candles (green) containing shadows or wicks: Strength continues to support the price action higher. At this point, with upside potential still present, the investor will likely consider the notion of adding to the overall position.
- A smaller candle body with longer wicks: Similar to the doji candlestick formation, this candle suggests a near-term turnaround in the overall trend. Signaling indecision, market participants are likely to wait for further directional bias before pushing the market one way or the other. Traders following on the signal will likely prefer confirmation before initiating any positions.
- Negative candles (red) containing shadows or wicks: Weakness or negative momentum is supporting the price action lower in the market. As a result, traders will want to begin exiting initial long positions or selling positions at this point.
- Negative candles (red) containing no shadows or wicks: Selling momentum is strong and will likely support a move lower in the overall decline. As a result, the trader would do well to add to existing short holdings.
These signals show that locating trends or opportunities becomes a lot easier with this system. The trends are not interrupted by false signals as often, and are thus more easily spotted. Furthermore, opportunities to buy during times of consolidation are also apparent.
Source: http://www.cobraforex.com
Source: http://www.cobraforex.com
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