Hello i wanted to share a system that I have developed with the help of THV and an indicator called DSS that I came across on one of the forums. I am using the two combined along with what I know about price action for this system. THV helps to get into trades and DSS helps to get out of trades (and somewhat get in). Also I am using HA candles and the most accurate pivot indicator I have been able to find. Putting all these pieces together AND looking at higher time frames is the best system that I have been able to create in my 10+ years of trading.
For a long:
1. Main moving average MUST be green (should be green on next time frame up to ensure you are with the overall trend!)
2. THV must have just turned green
3. DSS must have just turned green and in most cases be at or near the 20 level (lower is better)
4. You MUST have a green HA candle
For a short:
THE OPPOSITE!
I will try to do analysis on each one and why I got in; not all will work obviously...the idea is to keep a reward to risk of AT LEAST 1 to 1 and greater. You will also notice the white moving average lines which I will touch on with my analysis. Those are a great indicator of a potential reversal and pullback areas to get in. I will also touch on money management which is CRUCIAL.
For a long:
1. Main moving average MUST be green (should be green on next time frame up to ensure you are with the overall trend!)
2. THV must have just turned green
3. DSS must have just turned green and in most cases be at or near the 20 level (lower is better)
4. You MUST have a green HA candle
For a short:
THE OPPOSITE!
I will try to do analysis on each one and why I got in; not all will work obviously...the idea is to keep a reward to risk of AT LEAST 1 to 1 and greater. You will also notice the white moving average lines which I will touch on with my analysis. Those are a great indicator of a potential reversal and pullback areas to get in. I will also touch on money management which is CRUCIAL.