I found the THV setup very easy to observe and to work with and started to get everything together on the MT4 platform in october 2008. There is not too much left from the first chart of Turhovach, we added the THV Trix indicator which is the heart of the final product.
The main V4 rules:
Entry: Above Coral only long, below Coral only short Price crosses cloud - both Trix cross each other and have the same color.
Best and most secure trend confirmation is a cross of the fast Trix on the zero level.
Exit:Faster Trix changes color and/or touch of a known good resistance/support level.
Other reasons to take profit can be: Touch of a trend line, resistance or support line, horizontal psych level (00 - 20 - 50 - -80) or a black cat that cross your screen
Stop Loss: please set your stop loss according to your money management plan, as higher your TF that you trade as lower you set the pip value and as higher the Stop Loss, also it depends on the currency pair that you are trading.
I use THV mainly for scalp trades but many traders use it in higher time frames.
The THV team proved it only on 1M and 5M. The 1M TF is only for extreme scalping and needs good FX skills !!!
The THV team proved it only on 1M and 5M. The 1M TF is only for extreme scalping and needs good FX skills !!!
These are the only rules; anything else depends on your basic knowledge on FX and your feelings.
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