This indicator automatically detects and draws harmonic patterns.
For each Fibonacci ratio in Scott Carney's basic harmonic pattern, you can easily find it by Googling.
Here, we have added a certain allowable range to point b of the xabcd type patterns as shown below.
- Deep Crab: 0.886 + 5% (no minus range)
- Altbat: from 0.382 - 3% (no plus range)
- Gartley, Butterfly +- 3%
- rest pattern +- 5%
You can set up to 8 ranges per period. Depending on your strategy, you can set the period from short-term to medium-term and long-term as desired.
When an expected harmonic pattern is detected, a model is drawn up to point c, and the predicted position of the potential reversal zone (PRZ) with the possibility of point d in the future is marked.
Investors can see price movements to prz in advance and prepare to react.
If a completed pattern is detected up to point d, it draws a pattern and additionally draws the Fibonacci retracement ratio at point d.
Investors can look at the Fibonacci ratio to determine stop-loss and profit-loss points.
reference : https://kr.tradingview.com/chart/BTCUSDT/Q8NrwpFZ-Take-appropriate-long-and-short-positions-using-harmonic/
Total 18 Patterns
- Deep Gartley
- Deep Crab
- Alternate Bat
- Three Drives
- 5 - 0
- Nen Star
- White Swan
- Black Swan
- ABCD classic
- ABCD extension
- This is only an auxiliary indicator and we are not responsible for the investment results.
- Harmonic is a theory of possibilities, so it is always recommended to invest with safety in mind.
- It is recommended to double check RSI Divergence when entering.