Pattern Rocognition Indicator (s) - page 5
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See A-B-C-D thread in tutorial section, page #119 and post #1268.
07:00 German GDP ahead, some profit taking now probably one reason for pullback. Shorts should exit soon.
Last post intended for A-B-C-D thread. We had a Bearish Butterfly register on the ZUP Feb 24th and 25th. Comments on the A-B-C-D thread.
The red box has 2 sets of fib extensions.
The aqua color is from A-B, and are the 138.2 & 161.8
The gold color is from C-B, and are 161.8 & 200
Remember the swings are X-A-B-C-D
EUR/USD 15-min Bullish Gartley, for about 20 pips. Pair now looking to close the gap that occurred at opening.
ABCD thread highlights Mar 27th-28th Bullish Gartley.
Hi fxbaja!
Its me again, I decided to buy and read scott's books and now I have read the first one im pretty confused by using the ZUP indicator. You see, ZUP finds harmonic ratios that are not even 'harmonic' according to scott. The presence of the 0.414, 1.902 and others. These are used to find patterns on the ZUP but I find they are not valid from scott. Any reason for this?
Pretty sure this was mentioned in beginning in post #9 of ZUP thread:
https://www.mql5.com/en/forum/198302/page3.
The ZUP recognizes imperfect patterns when compared to other various "Gurus'" patterns. As you know, in the Pattern Recognition thread, we posted "perfect" patterns according to Guru Carney, and compared them side-by-side to the ZUP generated patterns.
However, the distances between points of the "imperfect" patterns are still fib ratios. We said it would thus be up to each user whether to trade them. The coder did use some influences by Guru Pesavento, as mentioned in the user manuals posted in post #6 of ZUP thread..
Bravo for you that you are studying this more in depth, and good luck.
digital,
You may want to also try indicator Harmonic Patterns, which is attached. Can't seem to find it, but 100% sure it was posted before.
digital,You may want to also try indicator Harmonic Patterns, which is attached. Can't seem to find it, but 100% sure it was posted before.
fxbaja, you're awesome. and a mindreader. This is exactly what I was looking for! Will try it out.
digital,You may want to also try indicator Harmonic Patterns, which is attached. Can't seem to find it, but 100% sure it was posted before.
Hi Fxbaja,
Ok, after installing the indicator I soon realised that this indicator is like ZUP too in sense that it is finding patterns that are using ratios that are not included in Scott's book nor even close to 'ideal' . For example, 0.717, 0.808 and other unheard of ratios.(check the attached file) I heard that some new ratios are from peservento but I guess I was hoping for something that would follow to scott's rules a little more. Is there any indicator apart from that and ZUP that is a bit more conforming to scott caney's harmonic patterns? I know he own his own software but i was hoping to find something on MT4 with SMS indicators.