Harmonic Trading - page 71
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Hello maniek,
it means that the crab has formed 16 bars ago so it ends on the 16th bar from the right.
marikoThanks tohuwabohu
Hi
As probably all u know the market is full of these patterns but the important thing is which pattern is good for trade these patterns are say then where u should jump in and where the s/l should be and getting position with some other techniques is not mentioned in harmonic trading system.
As far as I see the picks that u attached if the price even goes 150 pips higher the indicator automatically calculates the ratios and considers the shape as a pattern.
I have some quick questions:
1-from where the indicator determine the pattern and when.the advantage of these pattern is u analyze the chart and some how predict the probable reversal zone.so does your indicator determined the entry area days before establishing or the user should monitor the charts frequently and wait for the zigzag indicator to establish the High/low (falling down or going up depends on time frame many pips)for entry.
2-as far as I checked your charts we have some sharp reversan in 5 and 6 of april and at that point the indicator should recognize the pattern as gartley or bat but after this sharp reversal it went so far high then again the indicator find this patterns as a butterfly.how u manage this.is it the concept of harmonic trading????
3-if u realli believ this pattern that is recognized by the indicator as butterfly would u show us where is your entry point and s/l ????
4-if your indicator can do anything more than paiting the charts please answer me.thx1- what the indicator does is that it spots the pattern on whatever timeframe u attach the indicator to, spotting the pattern doesn't mean trade it right now, it means be prepared for reversal in price, how to find out if price reversed or when to enter the trade is outside the indicator scope, entering and confirming the reversal dependes on the trader skills, as u said there some ideas about that in the harmonic book but no clear rules, some people use RSI, some use Ergodic oscillator, some use candlestick reversal patterns,......
2- when gartley fails is usually turns to butterfly.
3- no entry/sl/profit as I mentioned in point "1"
4- indicator just spots patterns, nothing more
hi
update on the non-perfect patterns which I posted last week and some people didn't like
Hi
As probably all u know the market is full of these patterns but the important thing is which pattern is good for trade these patterns are say then where u should jump in and where the s/l should be and getting position with some other techniques is not mentioned in harmonic trading system.
As far as I see the picks that u attached if the price even goes 150 pips higher the indicator automatically calculates the ratios and considers the shape as a pattern.
I have some quick questions:
1-from where the indicator determine the pattern and when.the advantage of these pattern is u analyze the chart and some how predict the probable reversal zone.so does your indicator determined the entry area days before establishing or the user should monitor the charts frequently and wait for the zigzag indicator to establish the High/low (falling down or going up depends on time frame many pips)for entry.
2-as far as I checked your charts we have some sharp reversan in 5 and 6 of april and at that point the indicator should recognize the pattern as gartley or bat but after this sharp reversal it went so far high then again the indicator find this patterns as a butterfly.how u manage this.is it the concept of harmonic trading????
3-if u realli believ this pattern that is recognized by the indicator as butterfly would u show us where is your entry point and s/l ????
4-if your indicator can do anything more than painting the charts please answer me.thx
if u look at "harmonicanalyzer", the software Scott Carney created, it doesn't define entry/sl/profit, it just scans patterns
http://www.harmonicanalyzer.com/features.htm
the member to kamyar started this thread with the end to teach to us how you trade the harmonic patterns. it made a great work that all we appreciate and we are grateful (at least I am). I have to say that the member ziko123 didn't brought much productive thing for this thread with its indicator. I am not a programmer to say that the pointer is good or bad despite i have add some doubts of its efficiency. Morning star said everything that I thought: quote: "as far as I have checked the indicator it works based on a kind of zigzag indicator .so as all know zigzag indicator correct itself all the time consequently a pattern wich is recognized by the indicator with the tolerance of many pips can change to any pattern and it give not us a accurate and right PRZ and many other points", like stop loss, entry, and so on...
harmonic trading is not only connecting the lines and drawing triangles on a chart!
Please don't mix a good educational thread with a seller thread!
I think folks are entitled to make money anyway they like whether its by trading or selling indicators/ trading systems.
Sure, everyone can sell an indicator or a trading system, it becomes just very unethical, when this person uses free contribution from other people to "create" an indicator and then tries to resell it.
Furthermore, by posting charts with his indicator and redirecting potential buyers to the commercial zone of the forum is spam.
Anyway this thread was good for a moment, many thanks to Kamyar and any who has contributed for free. I also tried to provide with some ideas, but do not like what some people have done out of other people's work. I am therefore leaving this thread, as I cannot guarantee I'll remain polite otherwise.
Hi ziko
U have already said good thing but I should say that all people that are working on these patterns(even newbies)know that just spotting a pattern is not an entry signal .
as u say somebody uses the indicators for entry all know that the indicators all have delay and harmonic trading tends to solve this problem(trend following systems) so if i want to get in position by RSI or some other indicator confirmation so for what i should trade base on patterns i trade like another trend following strategies. also I should say that my questions are not fulfilled yet.
So I think there is no special thing about the indicator just another kind of Zigzag indicator like Gann's zigzag and so on(let say colored Zigzag). I should emphasize that already we have a good indicator coded by "nen" which is more accurate
It has the ability of studying the historical price movement and many other parameters that have made the indicator one the best ones. Of course it is free
another thing that i want to say is the indicator that u have coded just make newbies get confused and the loss provided is much more that the 10-20 $ that u want for charg
Sure, everyone can sell an indicator or a trading system, it becomes just very unethical, when this person uses free contribution from other people to "create" an indicator and then tries to resell it.
Furthermore, by posting charts with his indicator and redirecting potential buyers to the commercial zone of the forum is spam.
Anyway this thread was good for a moment, many thanks to Kamyar and any who has contributed for free. I also tried to provide with some ideas, but do not like what some people have done out of other people's work. I am therefore leaving this thread, as I cannot guarantee I'll remain polite otherwise.i think you should leave...you made some excellent contributions with your charts and i think you got alot of experence with harmonic trading but you came back lately not to help people...like me... on this thread to learn from your charts but to critize others...i not a big fan of anybody trying to sell their indicatiors but Ziko was asked where someone could update his indicator...this is when he linked to the commercial section which i feel was alright...he used the appropriate thread...
i have one request for everyone to stop agruing and let's get back to this excellent thread started by Kamyar...i would hate to see this thread die...i've learned a lot...thanks to everyone...you've helped me alot...let's continue...
Hi,
now you don't need to change it.
Cheers.ShadowWz, i can get your 05 indicator to work but the 06 shows nothing...not sure why...
Hi,
"there are many ways of making money" - and i also can sell my indicators ,but the reason i don't do that,for example - kamyar share with us his knowlege/experience and most credit goes to him and of corse to any user wich contribute to this post.
- this my opinioin and thats why i post source code now,after ziko123 started "sell" his indicator.(so you can see there is nothing special in this indicator, only hours of work)
Cheers.Thanks ShadowWz
Coyan