Recruitment of participants Harmonic Multi-Patterns with Scanner

Harmonic Multi-Patterns with Scanner

Multi-Pattern Scan with Custom Watch-list Column
I have spent several weeks developing a proprietary algorithm and optimizing the script so that I am now able to offer a harmonic pattern scanner without encountering the dreaded «too complex» script error.



A scan script is included to easily find stocks that are forming a harmonic pattern. Additionally, the custom watch-list column can be used with the scanner to identify the detected pattern. One could also use more than one copy of the watch-list column to monitor for harmonic patterns across multiple time frames on their personal list of stocks.



Feature Comparison



Example of Bearish Bat Pattern
Things to notice in the video:

• The pattern is automatically labeled
• Once identified, the ideal pattern completion point is projected via the dashed lines
• The potential reversal zone (PRZ) is highlighted in purple near the ideal completion point
• After price has reached the PRZ, the three, user-configurable, target lines are drawn in purpl

Harmonic Trading
Harmonic Trading utilizes the best strategies of Fibonacci and pattern recognition techniques to identify, execute, and manage trade opportunities. These techniques are extremely precise and comprise a system that requires specific conditions to be met before any trade is executed. The Harmonic Trading approach offers information regarding the potential state of future price action like no other technical methods.

The Potential Reversal Zone
This area is marked as a highly probable area for a reversal. This potential reversal zone (PRZ) is marked once point “C” is identified. By calculating the various Fibonacci aspects of a specific price structure, harmonic patterns can indicate a specific area to examine for potential turning points in price action.
In the video below, the PRZ is shaded blue and is seen once the butterfly pattern has been identified.
This is a zero-lag indicator that relies on price action alone. As such, points “C” and “D” will redraw until the associated swing-high or swing-low has fully formed.



This indicator will work on any chart time frame and with any instrument (stocks, futures, currency pairs, etc.).
This indicator does not include entry or exit signals. The trader is responsible for deciding when to enter and exit a position