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Thread: Harmonic Patterns

  1. #1

    Default Harmonic Patterns

    Hi,

    I am looking for a correctly coded harmonic indicator that shows most if not all of the standard harmonic patterns (shark, abcd, gartley, butterfly, crab, etc)

    There are many out there such as the Korharmonics and ZUP indcitor, but both of these have the same issue with the last leg of the pattern repainting itself. This is due to the fact that they both use the zig zag indicator as its primary
    measurement for highs and lows and pattern formations. This is absolutely incorrect and not the way it should be done. What happens is that you will get a pattern formation but the final lag will go up and down with the zig zag thus you have no
    idea when or where the pattern ends and are left guessing as to its validity.

    The harmonic patterns should be drawn and based off math. Not the zig zag indicator.

    Anyone have such an indicator?

    - forexmmm

  2. #2
    Senior Member fxtester's Avatar
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    Zup (last version v150),
    korHarmonics,
    PZ Harmonic Trading (paying indicator)

  3. #3

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    All of those repaint the last leg of the harmonic pattern, as described in the first post which is what I am not looking for.

    I have all of the versions of zup and korharmonics, and have seen the PZ harmonic indicator on mql4.

    "There are many out there such as the Korharmonics and ZUP indcitor, but both of these have the same issue with the last leg of the pattern repainting itself. This is due to the fact that they both use the zig zag indicator as its primary
    measurement for highs and lows and pattern formations. This is absolutely incorrect and not the way it should be done. What happens is that you will get a pattern formation but the final lag will go up and down with the zig zag thus you have no
    idea when or where the pattern ends and are left guessing as to its validity. "

    The harmonic indicator is not suppose to be using zigzag lines or anything similar to it for finding the highs and lows, as it is susceptible to repainting the final leg of the Harmonia pattern.

  4. #4
    Senior Member fxtester's Avatar
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    Okay.

    Indeed, they are all repainting. I am not sure if the partterns have to be exact. They can vary in a certain range. The way to determine the patterns is very subjective. I find the zigzag to be a good method.

  5. #5

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    Yes, some harmonic patterns do have a range of primary and secondary Fibonacci numbers which obviously vary for the final lag to be completed.

    If that is the case then multiple harmonic patterns should be formed within each other.

    Have you come across any harmonic indicators like this?

  6. #6
    Senior Member fxtester's Avatar
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    No, not to my knowledge.

  7. #7

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    Thanks anyways, fxtester

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