THV Forex System is another popular one from forexfactory, developed by the Cobraforex member. Another free share for you guys, but of course all credit goes to the brilliant developer!
Here are the basic entry and exit rules the system uses:
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.
We, the THV team proved it only on 1M and 5M. The 1M TF is only for extreme scalping and needs good FX skills !!!