The similarity between harmonic and basic chart patterns is that, for each of them, the shape and structure are key factors to recognizing and validating a specific pattern. The next price movement can thus be projected with the goal of turning these patterns into profits. However, a key difference is that harmonic patterns are defined more precisely. They are 5-point reversal structures, containing combinations of well defined consecutive Fibonacci retracements and Fibonacci extensions, leaving less room for flexible interpretation.
Harmonic patterns continuously repeat themselves, especially in consolidating markets. There are basically 2 types of patterns: 5-point retracement structures like the Gartley and the Bat and 5-point extension patterns like the Butterfly and the Crab. Trading harmonic patterns requires patience because, due to the specificity of the ratios, patterns that appear harmonic may not be if they don't align with the proper measurements.
This is the multi-octave setup using Plummer's ratios, including inner harmonics.
I start with using the number 0.16, 0.32, 0.64, 1.28, 2.56, etc et6c etc
🆓 SHI - Simple Harmonic Index by Cryptorhythms
Intro
The indicator is based on Akram El Sherbini's article "Time Cycle Oscillators" published in IFTA journal 2018.
The simple harmonic index (SHI) is based on the derivations of the simple harmonic equation.
Description
The trading tactic used for the simple harmonic index is merely the centerline crossover. A...
EXPERIMENTAL: reads the rates for the last top/bottom in a zigzag fractal series, outputs XAB, XAD, ABC, and BCD rates, im interested in earing what your opinion is as im a total noob in harmonics :p.
use with Fractals V5 for visual confirmation ;).
ZigZag Based on price oscilation.
added pattern recognition, also added recognition of head and shoulders and contracting/expanding triangles to previous list of patterns :p
Use Alt Timeframe: enables optional timeframes, use higher timeframes to reduce noise.
Timeframe: said Alt Timeframe.
Show Patterns: toggles Pattern Recognition on.
Eliot wave convergence from the 1 min to the 4 hr in combination with indicators to give the optimal entry. To use this indicator we will wait for the Eliot waves to converge at one extreme in combination with a bar flip to ensure entry on or forks, harmonics, and fibo levels. This is only to be used in combination with our training and you MUST be a member of our...
Hi
Let me introduce my Shooting Star automatic finding script.
This is a bearish reversal candlestick which occurs in an uptrend. It has a long
upper shadow with little, or no lower shadow, and a small real body near the lows
of the session.
Hi
Let me introduce my Dark Cloud automatic finding script.
This is a bearish reversal pattern formed by two candlesticks within a uptrend.
Consists of an up candlestick followed by a down candlestick which opens lower
than the prior candlestick and closes below the midrange of the prior candlestick.
It is the reverse of the Piercing Line.
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