The indicator shows the harmonic patterns of ABCD, as well as the levels of entry into the market, which allows the trader to quickly make decisions on transactions. Harmonic ABCD Universal, one of the few indicators that predict the price movement, determining the pivot points with a fairly high probability, long before the price reversal itself. It supports sending signals to a mobile phone, to an e-mail, as well as in the form of alerts.
The indicator scans all possible combinations on the chart at the current moment, as well as in the history, using a specially developed tracing algorithm. If the pattern is not formed yet, the indicator draws a possible (predicted) ABCD pattern. When the price reaches the top D of the predicted pattern, it becomes formed. Thus, all ABCD patterns, as well as their possible variants that meet the parameters set in the settings, will be highlighted.
The indicator shows the likely reversal points using lines labeled “Sell limit (Sell) [Start]” or ” Buy limit (Buy) [Start]”, long before the price reversal itself. These levels are intended for setting limit orders, and also serve as a guide if you do not use limit orders. If the limit indicators are not used or the price simply did not reach the limit order, a signal arrow appears immediately after the price reversal.
[spoiler title=”Read More…”]
The indicator works on all instruments. Recommended time frames: M5 – H4.
We place limit orders on lines labeled “[Start]”, both formed and not formed patterns. If the unformed pattern disappears, we delete the pending order. Another option: we place an instant execution order after the appearance of the formed pattern or after the appearance of the signal arrow of the formed pattern. You can see one of the ways to support orders in the video, under the description.
- n_bars – number of bars to analyze, value -1 – all bars (3000)
- f_min_bc_lv – the minimum level of the C point of the pattern, according to Fibonacci (0.618)
- f_max_bc_lv – the maximum level of the C point of the pattern, according to Fibonacci (0.786)
- f_min_cd_lv – the minimum level of the D point of the pattern, according to Fibonacci (1.270)
- f_max_cd_lv – the maximum level of the D point of the pattern, according to Fibonacci (1.618)
- f_bc_cd_dev – allowed Fibonacci deviation for points C and D (0.05)
- k_st – coefficient of the start and goal levels, relative to the range f_min_bc_lv – f_max_bc_lv (0.15)
- k_sl_1 – stop loss coefficient, for method 1 (0.85 of the [Target-1] level])
- k_t – number of bars for defining points C and D (3)
- f_t2_lv – the level of the second target (the Fibo level of the entire AD pattern movement) (0.786)
- k_sl_2-stop loss coefficient, for method 2 (0.85 of the [Target-2] level])
- arrow – the arrows show (true)
- alt_sign-alternative signal (false)
- zz_depth (1), zz_dev (5), zz_backstep (35) – ZigZag settings
- trace – enable / disable tracing (true)
- tr_min_backstep – the minimum value of the Zigzag Backstep, for tracing (24)
- tr_max_backstep – the maximum value of the Zigzag Backstep, for tracing (42)
- tr_step_backstep-the step of the Zigzag Backstep value, during the trace (3)
- send_mobile_signal-sending a notification about the generated pattern to the mobile phone (true)
- send_mobile_predict-sending a notification about an unformed pattern to a mobile phone (false)
- send_mobile_test-sending a test notification to a mobile phone (true)
- send_mail_signal-send an email notification when the generated pattern appears (true)
- send_mail_predict-send an email notification when an unformed pattern appears (false)
- send_mail_test-test for sending notifications after the indicator starts (true)
- alert-indicator alerts (true)
- alert_signal-alert when a new pattern appears (true)
- alert_predict-alert when an unformed pattern appears (true)
Attention! If, during trading or testing, the indicator slows down the terminal, then the n_bars parameter should be reduced to 1500-3000 bars. If you need to analyze all historical data (n_bars: -1), but the indicator slows down, you should turn off the trace (trace: false) or reduce the range, tr_min_backstep – tr_max_backstep, or increase the step, tr_step_backstep.
Attention! Due to the peculiarities of the tester, some of the indicator functions (such as pattern selection and others) may not work correctly! These features of the tester do not affect the demonstration of the indicator as a whole. When trading on a live or demo account, the indicator works normally.