[DOWNLOAD] PZ Harmonic Patterns Indicator {1.MB}

Download File Size : 1 MB Value : $399

The PZ Harmonic Patterns indicator is arguably the foremost complete harmonic price formation auto-recognition indicator you’ll find for the MetaTrader Platform. It detects 19 different patterns, takes Fibonacci projections as seriously as you are doing, displays the Potential Reversal Zone (PRZ), and finds suitable stop-loss and take-profit levels.

  • It detects 19 different harmonic price formations
  • It plots primary, derived and complementary Fibonacci projections
  • It evaluates past price action and displays every past pattern
  • The indicator analyzes its own quality and performance
  • It includes a multi-symbol and multi-timeframe scanner
  • It displays suitable stop-loss and take-profit levels
  • It uses breakouts to signal suitable trades
  • It plots all the pattern ratios on the chart
  • It implements email/sound/visual alerts

Inspired by Mr. Scott M. Carney’s book -Harmonic Trading Vol. 1-, this indicator has been designed to fulfill the needs of the most purist and exigent traders. However, it implements a twist to form it easier to trade: it waits for a donchian breakout within the right direction before signaling the trade, making its signals very reliable.

  • Fibonacci projections are vector-independent
  • It implements email/sound/push alerts
  • It plots the ABCD projection

Usage Tips

  • The amplitude parameter controls the pattern size in bars
  • Load the scanner indicator once to monitor many symbols and timeframes
  • Patterns can expand but signal breakouts mostly do not: wait for signals
  • Avoid trading if higher timeframes display a strong trend against your trade
  • Use the suitable SL and TP levels displayed by the indicator

Technical Information

  • The indicator evaluates at bar closing only
  • Patterns are displayed as soon as the XD and CD ratios are valid
  • Patterns can expand, repaint and become other patterns, with different names
  • Breakouts are mostly non-repainting and enough to reverse the market movement
  • Set a higher breakout period to decrease the odds of the indicator repainting
  • Stop-loss and take-profit levels are calculated using fibo ratios
  • The scanner loads blank, it never scans patterns to the past
  • The scanner opens charts using your default chart template

Supported Harmonic Price Formations

A brief introduction

The harmonics methodology utilizes the popularity of specific price patterns and therefore the alignment of tangible Fibonacci ratios to work out highly probable reversal points within the financial markets. This methodology assumes that trading patterns or cycles, like many patterns and cycles in life, repeat themselves. The key’s to spot these patterns, and to enter or to exit an edge-based upon a high degree of probability that equivalent historic price action will occur. Although these patterns aren’t 100% accurate, these situations are historically proven. If these set-ups are identified correctly, it’s possible to spot significant opportunities with really limited risk.

Harmonacci Ratios

The indicator calculates all the important fibonacci ratios for the XA and BC vectors of the pattern, and plots them by the Point D if applicable.Primary RatiosDirectly derived from the Fibonnaci Number Sequence.
– 0.618 = Primary Ratio
– 1.618 = Primary Projection
Primary Derived Ratios- 0.786 = Square root of 0.618
– 0.886 = Fourth roof of 0.618 or Square root of 0.786
– 1.130 = Fourth root of 1.618 or Square root of 1.27
– 1.270 = Square root of 1.618
Complementary Derived Ratios- 0.382 = (1 – 0.618) or 0.618e2
– 0.500 = 0.770e2
– 0.707 = Square root of 0.50
– 1.410 = Square root of 2.0
– 2.000 = 1 + 1
– 2.240 = Square root of 5
– 2.618 = 1.618e2
– 3.141 = Pi
– 3.618 = 1 + 2.618

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