Harmonic Pattern Scenario Planner MT4

Introduction

The present state of Forex market can go through many different possible price paths to reach its future destination. Future is dynamic. Therefore, planning your trade with possible future scenario is an important step for your success. To meet such a powerful concept, we introduce the Harmonic Pattern Scenario Planner, the first predictive Harmonic Pattern Tool in the world among its kind.

Main Features

• Predicting future patterns for scenario analysis
• 11 Harmonic Pattern Detection
• Automatic stop loss and take profit recognition for excellent risk management
• Pattern Completion Interval (PCI) for precision trading
• Potential Continuation Zone (PCZ) detection for future price movement prediction
• Potential Reversal Zone (PRZ) detection for Point D detection
• Automatic Channel Detection to go with Harmonic Pattern (Optional)
• Multiple timeframe Pattern Analysis
• Multiple timeframe Pattern Detection
• Guided Trading Instruction for professional traders
• Pattern Locking and Unlocking feature in your chart
• Even more, please find it out.

Scenario Simulation for future harmonic pattern

There are powerful simulation techniques known to generate possible future price patterns like Monte Carlo Simulation, Brownian motion simulation, etc. To do so, we need to understand the price behaviour including distribution and its randomness. Then we repeat the simulation as many times as possible to identify various future price path. Some future price path may be very important for your trading whereas some other price path may be insignificant. Harmonic Pattern Scenario Planner collects those significant price paths only for your advance trading decision. You will get the advantage of early warning.

Recommended Usage for Your Trading

You can also apply it to any currency pairs or future contracts tradable if your broker provides them in your metaTrader terminal.

You can use several different trading setups including:

• Trade on Harmonic Pattern by confirming other technical indicators like RSI, Stoch, etc
• Trade with Bollinger bands
• Trade between Potential Continuation Zones
• Trade on Harmonic Pattern by combining other support and resistance levels like Mean Reversion Supply Demand
• Trade with our Price Breakout Pattern Scanner
• Trade with our Elliott Wave Trend

Indicator Inputs

These parameters below concerns operations of Harmonic patterns. You can change timeframe of pattern detection. However, you cannot use smaller timeframe pattern detection for higher timeframe. For example, you cannot set Timeframe to detect patterns = H1 timeframe while you are using D1 chart.

• Timeframe to detect Patterns
• Max number of patterns to display
• Pattern Index from which to display
• Enable sound alert
• Send email if pattern is found
• Send notification if pattern is found
• Display Fibo retracement (DC Future Price Projection)
• Fibo Retracement Length
• Fibo Retracement Color for pattern
• Fibo Retracment Width for pattern
• Use white background for chart
• Amount of bars to scan for pattern search (1500 = default)
• Detect Pattern at Every Tick: true or false only
• Pattern Update Frequency (Period)

Further Reference

For the detailed guide in Harmonic Pattern trading, you can have a look at the Young’s Mutual Pattern Turning Point Strategy in the book:

• Guide to Precision Harmonic Pattern Trading: Mastering Turning Point Strategy for Financial Trading (Reference to Harmonic Pattern Trading)
• Scientific Guide To Price Action and Pattern Trading: Wisdom of Trend, Cycle, and Fractal Wave (Reference to Price Action and Pattern Trading).
  
  

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