Can anyone let me know if im doing this right please?
:20:
I think you are near to the pattern. I found this pattern also
medisoft,
That GBPUSD is a good setup. Notice that the extensions of CD have been respect by closes, this indicates that the AB=CD is valid and the 261.8 is a good trade.
I dont mind giving you tips with these patterns. Would you mind sending me the EA you have to simulate these patterns. I think I could make some good improvements.
Another IMPORTANT note. If you use the last High on the GBP, the 50% fib line falls just pips above the 88.6 convergence point. Making it all the more a better trade.
You might want to put half entry at 88.6 level and half at .5 of other XA swing, it might average out for a better price.
Dont forget to plot bid.
yeah, no problem. It is not finished, I have problems detecting the clicks on the ābuttonsā, and somewhere is a memory leak, but I can post this version here.
It is mixed in Spanish/English on the code (bad practice! hehehe)
[ul]
[li]You have 3 stored bull patterns and 3 sell patterns.[/li][li]The reset button defaults all the visible patterns on the active pair.[/li][li]The trailing stop uses various rules: ATR, 70.7 retracement from real D to current value, near target trail, move to break even when in 15 pip profit, and some more are planned.[/li][li]The visual trade allows to move stop/profit levels, and if the order is placed as limit or stop, you also can drag the entry price and the stop/profit lines are dragged with it.[/li][li]There are two scripts, DropSell and DropBuy. You must use them to place the orders, because the EA needs an specific magic number to work.[/li][li]The pivots are automatically calculated on the EA, not need to add them as a custom indicator.[/li][/ul]
[ul]
[li]To draw a pattern, simply activate one of the buy/sell buttons (gray is disabled, white is active).[/li][li]Double click the solid trend lines, and move them. After you drop the new point, the pattern will be redrawed, all the fibo levels are going to be recalculated.[/li][li]When a point, from X to C, is dropped in a bar, between the high and low, then it automatically snaps to high or low, depending if the pattern is a bull or bear one.[/li][/ul]
Known bugs:
[ol]
[li]The buttons (buys, sells, shot, trstp and reset) are not real buttons, are text labels with background, and I use some DLL functions to track the mouse and the click, but I have a problem detecting in which window the click was issued, so sometimes the click can be detected on more than two windows.[/li][li]There is some memory leak, I think is in the DLL (I didnāt made it) that handle the mouse detection.[/li][li]There is a problem calculating the xAB=CD for time when C is in one week and D is on the next week, so it works well on intraday or intraweek calculations, but not on bigger durations.[/li][/ol]
HarmonicCharter_Plus_Extras.zip (374 KB)
My take for today ā¦ Looking at AJ like a hawkā¦ double patterns ALL converging on 88.00 again!! Am selling just below 88.00
Thank you for that. It will keep me busy this weekend. Yes I will be trading the GBP setup.
I am also working on an EA, so I can better trade London sessions. It will simply open a trade during a āD formation timeā if price crosses that level. It will also close the trade if the 1 hr, closes past a certain point invalidating the trade.
Ill post it when its working
Yeah, Im liking that AUDJPY, I made 70 pips the first time it hit 88., would love to do it again.
Thatās good idea. This EA has a clock on the top-right corner. There I placed a line that tells me if current time is a āD formation timeā.
You can change the default time zone on the common_functions. Mine is GMT-6, you can place yourās there. In a next version that will be a configurable parameter.
Maybe Iām going to put a symbol on the D point when it is on the āD formation timeā, that way one can know if that D point is good or not.
Your idea about setting intelligent pendent orders is pretty good 
I think Iām going to add that idea to the scripts that place orders.
Medisoft how did you find where the D was and where did Tmoney go?
The answer to both of your questions are within this thread.
Target 100 pips, Closed for 46ā¦Learn to keep to your trading planā¦
I placed a pendent sell on GBPUSD in the monthly pivotā¦ the good thing is that the price retraced more than 100 pips from that point in only 12 hours, the bad thing is that the price never touched the pivot, so Iām outside that wonderful move.
Hi! I found a way to fix the problem with buttons. Also I added the code to handle pending orders and to place as a real ones when the price is near the target at the ād formation timeā
I also added a variable on the configuration of the EA to set your time zone.
HarmonicCharter_Plus_Extras.zip (411 KB)
I think that GBPUSD is making a very big deep crab. Do you think Iām right? or is it a butterfly?
I just finished the code to do the trades only on āD formation timeā, and mixed it with the visual trade that my EA has. Also added the functionality to tell you which pattern you are drawing, if it matches the rules I know. I, using this, detected this possible patterns. What do you think about them? I think all of them have good PRZ, with nice confluences between fibs, sometimes with trends, round numbers, pivots and support/resistance.
This one is for AUDJPY
This one is for AUDUSD
This one is for CHFJPY
Another one for EURGBP
Some other charts
An starting one for EURJPY
Other for EURUSD
And this is for GBPUSD
This is a small one for NZDJPY
Finally this last charts
Other small for NZDUSD
One more for USDCAD
And the latest one for USDCHF
Sorry for posting too many charts, but I think best way to learn is to practice, and Iām practicing a lot! Please post your comments. Thanks!
You can see on some of the charts an orange, green and red horizontal lines. This are the indications for my entry points (orange), take profits (green) and stop loss (red).
All the trades risk only 2.5 percent of the account. On some of the pairs I placed two orders of 2.5, so the total risk for that pair is 5 percent. The trades will be activated automatically when the price is near the entry point and the time is in the range of āD time formationā that TMB recommended
Thanks Medisoft for the harmonic charter and the display of the potential patterns it recognizes. You have had some amazing features in your program. How is live trading with it?
I am not an expert, but looking through your patterns, I could feel that lots of the potential patterns might looks better in a higher time frame other than in 30 m charts, as there were often too many bars in each of the legs. I actually thought your NZDUSD pattern in 30m chart is about a good match of patterns and time frames. However I was wondering why the C point was chosen as it was other than the previous swing low (the wick of the green bar left of your C). If that point was chosen, there was likely a butterfly at 100%CD/1.18 or 1.27XA.
There was also a invalid point of C in the EURGBP pattern as there was a higher point between B and C. Again if that point was chosen as a C point, it would looked more symmetrical and you might have a gartley D before your C point.
Hope it may add some thought when when you improve your program. Just my thought and it may not be right.
Thanks for your comments.
It is nice to trade live with it, it makes the charting and measuring of patterns easier than with only fibo tools, and because it can handle the move to BE and trailing stop and calculates the position size it helps a lot with money management and risk control.
Iām not very expert in harmonic patterns, I selected that C points because I think that they are OK, but thanks for your suggestions and observations, it would be wonderful to know which characteristics make a pattern invalid or bad chosen.
Some of the reasons to choose the points I choosed are because I follow the rules. For Gartley, B should be 61.8XA, C should be 78.6XA. On NZDUSD the B point is at 35.4XAB, pretty near to 38.2, following the rules, that must be a Bat or a Crab or a Alt Bat, because in the definitions they are the only two patterns that can have 38.2XAB. I then placed my D point on the best confluence point that matches some of the XA fibo levels, and I found it to be 112.8XAD, for an Alt Bat. It could be also a Crab if the price extends to 161.8XAD, but also on the definition, the ideal BC projection is 261.8BCD or 314.1BCD, and on 112.8XAD there are nice confluence with 300AB=CD(price), 314.1BCD and a daily pivot support 2, thatās the reason for NZDUSD.
On EURGBP I moved the C point as you suggested. It looks more ācuteā. It has 38.2XAB, so, following the rules, it must be also a Bat, AltBat or Crab. On 112.8XAD there is a confluence of 261.8AB=CD(price), 361.8BCD and a daily trend line, with a previous support. What I donāt like on those patterns is that they does not match with xAB=CD on time, only on price. I prefer to have all the matches, to have almost perfect setups, but sometimes some parameters does not make a match, but the pattern seems valid with the other checks.
Do you have meta trader 4? Could you redraw the patterns in the way you suggested me, to see the differences?
Thanks a lot!
Hello All,
I will comment on some of your setups, I need to do a weekly look at some other pairs NZD, AUD are looking good.
For Now, I have spent a lot of time noting my view of the EUR, I did a top down analysis starting with weekly Patterns.
Please Check it out and tell me any comments you may have.