When using "Harmonic Patterns", always look at the bigger picture, please do not depend solely on the "Pattern". Use other indicators,... to confirm what you think is going on!
That said, it is quite useful!
Here we have "The Gartley", bullish and bearish.
The "Pattern" is created by checking 5 consecutive (pivot) points, starting with X, A, B, C, and ending with point D. At point D all 5 points are compared, calculated and verified.
When confirmed, a "Label" will be plotted at point D, together with the "Entry", "Take Profit" and "Stop Loss" price. The "Entry", "Take Profit" and "Stop Loss" lines will be plotted as well at point D.
Lastly, a "Drawing" automatically will be displayed which makes the "Pattern" visible. Please do mind, the "Drawing" is calculated differently, the "Drawing" sometimes can be displayed incorrectly when prices are too close to each other (for example low Satoshi price changes). THE "ENTRY", "TAKE PROFIT","STOP LOSS" PRICES AND LINES ARE NOT AFFECTED AT ALL BY THIS, THEY WILL SHOW CORRECTLY!
- 1 "TP point" can be changed ("TP Level 0.618") - "Labels", "Lines", "Drawings" can be disabled/enabled - "Labels" can be made smaller or bigger ("Size Label") - "Labels" can be placed further or closer to the bar ("Distance TP Label" > higher = closer, lower = further) - "Lines" can be made thicker or thinner ("TP Linewidth") - "Drawings" can be made thicker or thinner ("Drawings Linewidth") - "Drawings" are created by comparing with 100 bars back in history (default), should it be (very rarely) a triangle is displayed flat on the left side, possibly the first point(s) is/are further than 100 bars ago, in this case increase "Period Drawings" above 100.
- When a lot (really a lot!) of "Patterns" appear on the chart, the first ones will not be displayed anymore, first the "Drawings", then the "Lines" The last (present) ones will always be displayed in total without a problem! - If you want to see "Patterns" with less correct measurement, change "Error Marge" 0.9 - 1" and "Error Marge" 1 - 1.1"), this gives max. about 10% extra margin
Thank you very much!
Note di rilascio
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Added more settings regarding "Drawing Lines"
Note di rilascio
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Hi, The Gartley is now included within the open source Harmonic Patterns 1 (+ more patterns), also check my Harmonic Patterns 2, will update them within a few days or a couple of weeks. Also, in the future there will be more sets of Harmonic Patterns (3, 4, ...)
Thanks!
Note di rilascio
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Hi, the recent error were caused by server-side changes related to performance improvements (sec. Tradingview)
I have added the argument "max_bars_back=300) to fix it.
Well, first, the Gartley is pretty rare (the Gartley is also included in the "Harmonic Patterns 1" by the way).
Also, you need to be a bit patient, there was a nice Butterfly on BTC/USDT a few days ago
I will include more Harmonic Patterns in the (near) future, making chances greater to get a Pattern, stay tuned for the updates! ;-)
luhongda1988
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@fikira, thanks a lot mate for the great work and your spirit of sharing!! Look forward to your update
mehdikohan8
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Hh
MoAtlas
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As a mere muggle, I am always amazed at the ‘wizardly’ capabilities you have..developing a script for harmonic patterns must be a cumbersome task. I can’t thank you enough…I can rarely ID a harmonic pattern using my calibrated eyeballs..thank you so very much!
Added your Gartley into my Chart, but seems doesnt show up at all.... same goes for the other 2 Hominc Pattern codes