How does it work ? The code uses two two models built on the theory of Harmonics to determine trade calls.
Model 1 (Default) Uses a low risk model and Model 2 (Optional) Uses an aggressive model
How to Deploy / Use
As part of the Indicator there are 1 Choices that the user can opt for
Box Resolution - The resolution of the checks , typically set at 60 , can be customized by the users.
Use Model 2 - This would add trades based on Model 2 Algorithm for the users
The Plot level display in three colored lines that are plotted by the code.
Black: Low end of the setup / Stop Loss
Red : Entry Point for the Setup
Teal: Target Point for the setup
Visual Checks - The user could manually initiate the trade at the colored lines mentioned above are placed and the trade is that same direction ,
The system would only initiate the trade when the appropriate is identified
Usage/Markets : Index Trading / Equities and also well with and Currencies
Time Frame : works well between 3 and 30 , keep the Box resolution to at least 45 for 3 mins TF and you could move upto 120 (2 hrs ) for a 30 mins TF.
Strategy Settings Used/Assumed : All of this values are provided in the Properties Tab of the Indicator Settings
and the users can customize it to suit the broker or the product they are charting it against
Initial Capital : 200 000
Order Size : 1 Lot for Model 1 , and If you are optionally selecting Model 2 : 1 more lot would be used as and when applicable
Commission : is set at 0.025%
Slippage : 100 ticks
Recalculate Option : After the Order is filled is selected by default
Disclaimer : There could be scenarios when the breakout/breakdown candle is rejected , especially when it is long one
so it is always recommended to have a confirmation candle that open-closes above the breakout candle / open-closes below the breakdown candle
If you like it and find it useful or if you find a defect or bug , Please let us know in the comments .. that would encouraging !! for us to develop it further
Thank you and have a beautiful and Profitable trading session !