MT4 indicators will not find such harmonic patterns

Another complex zigzag pattern that it's unlikely to be found by common MT4 indicators for pattern recognition.

Check regarding the AMP indicator -> AMP indicator releases

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Best two locations for the butterfly pattern

It was clearly explained here -> Butterfly pattern and Elliot Wave theory about the 2 best locations for the harmonic butterfly pattern.
To remind.
First, is at the end of impulse swing.

Second, is at the end of corrective move, example from EURUSD below.

Check the examples on the Forum.

Consider ignoring all the other butterflies. Note that harmonic pattern recognition indicators rarely analyse the location of the pattern on the chart, they often present butterfly pattern (meeting the Fibonacci price relations) in the wrong location. Now you should not be surprised anymore why so many of them fail. :-)

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Butterfly pattern recognition indicator - AMP indi from TradingArsenal.com

butterfly invalidated and running harmonic patterns

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Magic of the Pivot Points as trade entry confirmation

Yes! I use Pivots, especially pivot points confluence ( clustering ) from multitimeframe, example from today's EURUSD rally:

...but pivots for best effects should be combined with something. In my case, I successfully combine pivots with harmonic patterns trading, but if you are not fun on market geometry, you can combine pivot points analysis with your prefered methods.
For more on this topic check here -> Confirmation Techniques for the Gartley pattern: Pivot Points



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XABCD diagonal pattern Artwork

Check XABCD Diagonal pattern definition to learn more about XABCD diagonal pattern.
Amazing when well located!

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What is korHarmonics indicator for MT4 platform ?

korHarmonics is an indicator written in mq4 for Metatrader4 (MT4) platforms.

It automatically looks and presents (real-time and history) harmonic and price patterns appearing on any market and instrument supported by MT4.

For the user it means:

• possibility to monitor multiple markets, instruments, timeframes
• possibility to define set of favorite patterns to look for
• assurance that each pattern will be spotted and the user alerted
• at the end spending less time looking at the monitor, but not missing an opportunity

The market repeats continuously and on each timeframe. It does not draw anything new and will never draw anything new. It is just important to spot repetitive patterns, in order to remember their past behavior and get alerted on time when they show up next time. korHarmonics supports you in this.

There is no indicator that completely replaces an investor’s eyes. Some recognized formations are ‘DO NOT TOUCH”. Some look good, but still fail. It’s the responsibility of each investor to study and learn when to play and when to stay out of the market.

See www.TradingArsenal.com. This sub-forum Forum: KorHarmonics Indicator Releases is dedicated to the korHarmonics indicator and korHarmonics related initiatives. You may ask questions, look for the answers, share your strategies and entries screenshots. You will find there also information related to the latest public versions of the indicator and comments to your ideas.

Functionality in the last publicly available korHarmonics version (6.7.13):

1.       Automatic real-time and history harmonic and price patterns recognition and presentation. See korHarmonics manual korHarmonics Manual Documentation for the full list of supported formations.

2.       Support for multiple markets, instruments and timeframes

3.       Early identification of the emerging/potential formations (“Emerging patterns”).

4.       ZIGZAG with its price and time relationships

5.       Possibility to automatically save found pattern picture into a GIF file.

6.       Alerts and sound alarms.

7.       Choosing favorites patterns, filtering out the others

8.       Templates with predefined optimal parameters

9.       Default MinSwing pre-configuration for ZIGZAGs

10.    Integration with korSigMonitor the indicator which allows you to monitor multiple formations, markets, instruments, timeframes on the single page.

The latest official public version of the korHarmonics indicator is available here -> korHarmonics indicator - the latest official public release - FREE download

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Not necessary harmonics - Triangles

Non-harmonic price patterns - Triangles. 

Any worse or any better?

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Wall Street bull

Wall Street bull ;-)


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Market Correlations explanation

Market Correlations explanation.

Nicely presented ...

market Correlations explained

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harmonic Bat pattern Reward:Risk ratio

Bat pattern Reward:Risk ratio - case1

Bat pattern Reward:Risk ratio - case2

For the details regarding the Bat pattern and Reward:Risk ratio check this thread on the Forum: harmonic Bat pattern Reward Risk ratio


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XABCD harmonic diagonal pattern example

Today's EURUSD XABCD harmonic diagonal pattern:

To learn more about the XABCD diagonal pattern check out this thread -> XABCD diagonal pattern definition

These XABCD diagonal patterns together with harmonic Butterfly patterns allow to spot the very exact market tops and bottoms, so to enter the trade at the begining of new trend. Amazing ... if confirmed properly.


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Gartley pattern Entries Exits StopLoss

You may check first the previous post where is the Gartley first natural Exit presented (Entry, Exit/Take Profit and StopLoss). Since the proper Gartley pattern is a correction (corrective move) the impulse must follow and this impulse must take/reach the previous high (Gartley pattern point A) -> Gartley pattern Reward Risk ratio

Here we go even further, the Gartley pattern in the proper location should forcast the start of the strong impuls wave (Wave3 in EWA/Elliott Wave theory). Such impuls reaches 161.8% of the initial impulse move (XA swing), therefore we place the Exit at 161.8% of XA measured from point D.

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Gartley pattern Reward Risk ratio

For the details regarding the Gartley pattern and Reward:Risk ratio check this thread on the Forum: Gartley pattern Reward:Risk ratio
Since the proper Gartley pattern is a correction (corrective move) the impulse must follow and this impulse must reach the previous high.

Scenario when the impuls reaches 161.8% Fibonacci of the XA swing is presented in post Gartley pattern Entries Exits StopLoss

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Extreem butterfly bullish pattern

extreem butterfly bullish pattern

Here you can find the definition of ideal and tradable harmonic butterfly patterns -> Ideal and Tradeable butterfly pattern

Tradeable scenario description gives examples of 2 extreem cases. Today we had one such on USDPLN, see the attached example. Very precise, harmonic butterfly pattern, ...very powerful if located correctly, ... btw: additionally confired by several methods we described in Butterfly pattern confirmations

All the Best in 2013!

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Simulate Equity Curve for your System

A system with 50% success ratio can be a killer with always growing equity curve. Test is by yourself!
Very nice tool for simulating Equity Curve.

Here is more info:
http://tradingarsenal.com/tutorials-courses-webinars-books-info/559-generate-equity-curve-your-system.html



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benefits and disadvantages Harmonic Trading

We created a Skype Group to discuss the advantages and disadvantages of Harmonic Trading. Focused on the Practical aspects!

Based on the different discussions and questions that you send, it seems to be very interesting and wanted topic. Different traders see and approach it a bit differently. 

If you are willing to share your experience and activly participate in the discussion we have, drop a message to TRADINGARSENAL skype account (that holds this discussion group). 

aaa

Personally, I will also gladly share my experience, but I am even more intersted in your inputs.

here are the forum threads:

benefits of Harmonic patterns trading

disadvantages of Harmonic patterns trading

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Charts overlay correlation indicator

charts overlay mt4 indicator

Chart Overlay MT4 indicator for comparing several charts on 1 chart (example of EURUSD and GBPUSD on the same chart). 

Great if you benefit from instruments correlation in your trading system.

You can download this indicator (including source code) here -> Charts overlay indicator


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Expert4x forex GRID EA system explained

Pretty nice webinar -> http://expert4x.com/expert4x-no-stop-hedged-grid-forex-trading-ea-support-video/  Covers the pros and cons of the forex grid trading method. It presents (in details) the Expert-4x GRID EA (MT4 platform).
Presented material is rather for grid beginners and skips some important grid trading elements, ...anyway I want still recommend you see it.

Lately at TradingArsenal we verify options to combine grid trading with harmonic patterns trading. Both trading methods have pros and cons and we want to choose the best out of each.
Grid-harmonic trading systems ideas are presented here: TradingArsenal - Trading systems


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Interview with Market Expert - Bruno Estier

The best is to learn from the Experts, right?

Check the Interview with Bruno Estier -> http://www.samt-org.ch/pdf/estier_interview.pdf
Good luck!

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Ichimoku system profitable combined with Harmonic patterns trading

Just to point you to another interesting thread.
Interesting and seems like profitable way to combine Ichimoku system with Forex Harmonic patterns trading.
Comments are welcome.
Link is here: Ichimoku system
121 harmonic pattern traders will surly like the posts starting from #3.



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