I've been netting a few pips using the korHarmonics indicator and just trading the Gartley patterns.
Plus I've read through the Pattern EA thread in which everyone was extremely upbeat at the start but then it seemed to run out of steam.
What I'm in the process of doing it writing an EA using the MACDBB to signal the confirmation of the korHarmonics Gartley. Using a bullish pattern as the example what I'm intending to do is raise two orders both with a stop loss of X-spread, one with a target of 38.2% retrace of CD and the other with 61.8% retrace of CD. If we hit the 38.2% retrace the the stop loss of the 61.8% order is set to break even.
Using the theory that learning from others mistakes is better than making the mistakes yourself, I have a few issues that others might have come across.
1. Most importantly - can anyone think of a reason why it won't work?
2. I think everyone agrees that the Gartley pattern, over time will nett pips, but are there any more reliable patterns that can be used?
3. Is there anythibg better than the ZigZag to choose the pivot points?
Thanks in advance.