PRO HARMONIC BY SPOTS.FX
Greetings, fellow traders,
Today, we aim to elevate our trading approach, making it more sophisticated and financially rewarding. I will guide you through understanding what an indicator is and how to effectively utilize it.
Harmonic patterns make up a major part of the many patterns traders use to make investment decisions. The following tool aims to automatically categorize which XABCD harmonic pattern is highlighted by the user and to alert when the price reaches the PRZ or D point.
Let's commence by clarifying the concept and functionality of an indicator:
An indicator is a powerful tool engineered to identify harmonic patterns while precisely pinpointing ( PEZ Zone ) to entry and exit . It has the capability to forecast these patterns before they fully materialize. The indicator is proficient at recognizing various patterns, including
AB = CD
GARTLY
BAT
ALTERNATE BAT
CRAP
DEEP CRAP
BUTTERFLY
SHARK
Now, let's delve into how this indicator operates:
Early Pattern Recognition :
Before a harmonic pattern is fully formed, the indicator identifies it. Once three sides of a harmonic pattern are complete, all pattern's shape's manifests as points, indicating its expected presence.
Defining Entry and Exit :
A visual box is drawn to facilitate trading decisions. The upper part of the box signifies the entry zone, while the lower part designates the exit zone, particularly in bullish scenarios.
For bearish patterns, the dynamic shifts. The lower region of the box becomes the entry point, and the upper segment transforms into the stop-loss area.
In terms of targets, they will be automatically generated within the initial exit zone (T1) and the secondary exit zone (T2).
It is noteworthy that when the price crosses into the box area, the pattern's shape transitions from points to a conventional outline. Simultaneously, an additional alert notifies you that the pattern may have become active. You can initiate a trade either when the potential pattern is discerned or by simply touching the box area and activating the pattern.
note /
After completing any of the models, it is better to go on lower frames to wait for an entry opportunity, such as an engulfing candlestick pattern, a classic model, or a smart money concept.
Let's highlight some pivotal features of this indicator:
Favorable Risk-Reward Ratio: One of the primary advantages of this indicator is that the targets consistently outweigh the stop-loss, resulting in a more favorable profit-to-loss ratio.
Versatility Across Markets: This indicator is compatible with a wide array of markets, including gold, oil, forex currencies, and cryptocurrencies.
Tailored Timeframes: Depending on your personal preference, you can adapt the timeframe, ranging from 5 minutes to daily and weekly intervals.
Indicator Settings:
You can customize the Zigzag period from the default value of 8 to other values. The recommended values are 8, 12, and 21, which are based on personal preferences and user desires, whether for quick or long-term trades with higher profits.
You can also modify the period during which the patterns are displayed for testing purposes, using the start and end periods. Additionally, you have the option to display all patterns or select specific ones. Each pattern can be shown or hidden individually.
Wishing you a fruitful trading journey!
note
All proportions are adjustable but these are the default proportions for all models
Now we will review with you all the models
( Bull Bat Battern )
( Bull Gartly Pattern )
( Bull Shark Pattern )
Thank You
Enjoy..
Today, we aim to elevate our trading approach, making it more sophisticated and financially rewarding. I will guide you through understanding what an indicator is and how to effectively utilize it.
Harmonic patterns make up a major part of the many patterns traders use to make investment decisions. The following tool aims to automatically categorize which XABCD harmonic pattern is highlighted by the user and to alert when the price reaches the PRZ or D point.
Let's commence by clarifying the concept and functionality of an indicator:
An indicator is a powerful tool engineered to identify harmonic patterns while precisely pinpointing ( PEZ Zone ) to entry and exit . It has the capability to forecast these patterns before they fully materialize. The indicator is proficient at recognizing various patterns, including
AB = CD
GARTLY
BAT
ALTERNATE BAT
CRAP
DEEP CRAP
BUTTERFLY
SHARK
Now, let's delve into how this indicator operates:
Early Pattern Recognition :
Before a harmonic pattern is fully formed, the indicator identifies it. Once three sides of a harmonic pattern are complete, all pattern's shape's manifests as points, indicating its expected presence.
Defining Entry and Exit :
A visual box is drawn to facilitate trading decisions. The upper part of the box signifies the entry zone, while the lower part designates the exit zone, particularly in bullish scenarios.
For bearish patterns, the dynamic shifts. The lower region of the box becomes the entry point, and the upper segment transforms into the stop-loss area.
In terms of targets, they will be automatically generated within the initial exit zone (T1) and the secondary exit zone (T2).
It is noteworthy that when the price crosses into the box area, the pattern's shape transitions from points to a conventional outline. Simultaneously, an additional alert notifies you that the pattern may have become active. You can initiate a trade either when the potential pattern is discerned or by simply touching the box area and activating the pattern.
note /
After completing any of the models, it is better to go on lower frames to wait for an entry opportunity, such as an engulfing candlestick pattern, a classic model, or a smart money concept.
Let's highlight some pivotal features of this indicator:
Favorable Risk-Reward Ratio: One of the primary advantages of this indicator is that the targets consistently outweigh the stop-loss, resulting in a more favorable profit-to-loss ratio.
Versatility Across Markets: This indicator is compatible with a wide array of markets, including gold, oil, forex currencies, and cryptocurrencies.
Tailored Timeframes: Depending on your personal preference, you can adapt the timeframe, ranging from 5 minutes to daily and weekly intervals.
Indicator Settings:
You can customize the Zigzag period from the default value of 8 to other values. The recommended values are 8, 12, and 21, which are based on personal preferences and user desires, whether for quick or long-term trades with higher profits.
You can also modify the period during which the patterns are displayed for testing purposes, using the start and end periods. Additionally, you have the option to display all patterns or select specific ones. Each pattern can be shown or hidden individually.
Wishing you a fruitful trading journey!
note
All proportions are adjustable but these are the default proportions for all models
Now we will review with you all the models
( Bull Bat Battern )
( Bull Gartly Pattern )
( Bull Shark Pattern )
Thank You
Enjoy..
Q8alansari