THV System For MT4 Intro
As you and I can see here in our lovely screenshot, we did set up the THV System For MT4 on the EURO versus the Great British Pound chart on the one hour time frame to be able to display the last days candles and see many different examples.
Mainly, I see that the THV System For MT4 used indicators in the chart looks familiar but might have different names in these article. I can see Heiken Ashi candles, moving average, support and resistance prices, and much more.
So, let us dig more into that system and explain to you how is the THV System For MT4 works.
How to use THV System For MT4
Here we will explain to you how to use the THV System For MT4 from a to z to be able to follow the system rules correctly.
First of all we will talk about the template functionality, the THV System For MT4 here is changing the ' Moving Average ' name to be Trix in our examples, and the rest of the article.
The main lines in the system are the Trix lines where it can shhow you the expected trends whether an uptrend or downtrend when the fast Trix is breaking or crossing the slow one, and that should remind you of the fast, and slow moving averages.
To be able to identify the general trading without opening a trade you will wait to see the fast Trix line crossing the level of zero, and if you need to open or analysis a buy or sell trade you should wait until the fast line crosses the slow line.
As you can see the Trix lines in the THV System For MT4 are bold so that you don't get confused between it or any other lines you have on your chart. If you need to be notified when one of these conditions happen simply you can turn that on through the indicator parameters as you will be able to enable or disable the sound alerts.
If you are not watching the chart continuously, we recommend to turn on the sound and, or email notification.
Not just that, the THV System For MT4 is also including some divergences to be able to analysis the market to you by many different factors. The divergence in that system will work for you on the fast moving average line aka the fast trix line. It will be able to notify you by alerts once there is a divergence not just that, but it will also give you a buy or sell signal based on what it sees.
Simply the automatic divergence signals will be shown to you as red or green arrows. Having that said, the divergences will be displayed to you in different colors, for example, when there is a downtrend divergence it will be shown to you by the red color while the opposite will be shown to you in blue, and if you see a solid color that means you are facing a classic divergences. If you see the divergence displayed in dotted line that means it is a reversed divergence.
The Ichimoku cloud in the THV System For MT4 is to help you to decide whether to take your trade or not as if the price is above the cloud you should not sell even if you see sell signals and the opposite is correct as well.
The colored bars you see down below are related to the THV Trend itself as you need to note that in any moment these bars turn into yellow color that means there is a pause in the trend or there might be a change in the market, or plan.
If you look on the left side on your MT4 below the one click options or on it ( the top left ) you can see the stop loss instructions where the THV System For MT4 calculates it to you based on the last market movements and other factors like the ATR, make sure to choose the right time frame before checking the stop loss level taht you should use. The average length of the stop loss is between eight to 16 pips if you are scalping.
Moving to another point this system displays to you the trading sessions that you need so that you don't need to look somewhere else to confirm when a session starts or ends. The only thing you need to do is confirming your broker time zone and set up the sessions settings that you need in the THV3 Market Hours indicator settings.
Don't worry about all these indicators! by downloading the ZIP from inside this article you will receive all the indicators, manuals and templates! To make that system works the best for you make sure that you allow the DLL imports in your properties to make it work extremely well for you.
Good news is that the pivot indicator integrated in the THV System For MT4 was advanced one back in its time so it might work good for you, and on the other side there is a news indicator API from forex factory inside the system so that you don't need to look up the news out of the platform noting that most of the MT4 brokers nowadays lets you see the news inside the Meta Trader.
It is adviced to not ignore any risk levels that the coral provides you starting from the first level unless you are well experienced trader and in that case you might not need the THV System For MT4 at all. As we explained before how to enter your trade now we will tell you when to exit it. Once the moving average or the fast trix color get changed you should leave your trade, and if the price met a strong supply or demand level that would be a good reason to leave your trade as well.
THV System For MT4 Pros & Cons
The advantage of that system is that it is merging to you many strategies and indicators, APIs as well in one place so that might be one of the best systems if you use such indicators already and just need them loaded in one shot instead of loading them one by one every time. What we don't like in that system is the repainting indicators that are used in it.
However, some people still uses the repainting indicators and believe that it will get them profits forever, from our side we don't believe in that but it is not impossible if you know how to config all these stuff to get you profits.
Summary of THV System For MT4
This system is including moving averages fast and slow ones, news API, trading sessions API, trading notifications, two types of the divergences which means that a real work has been done creating that good system. Still, you will need to test it over and over before deciding to go with it, and we always recommend to build your own trading strategy otherwise you are fine with trading systems if you believe in THV System For MT4 and similar ones.