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• Archive: The Harmonacci Patterns indicator is arguably the most complete harmonic price formation auto-recognition indicator you can find for the MetaTrader Platform.
• It detects 19 different patterns, takes fibonacci projections as seriously as you do, displays the Potential Reversal Zone (PRZ) and finds suitable stop-loss and take-profit levels.It detects 19 different harmonic price formationsIt plots primary, derived and complementary fibonacci projectionsIt evaluates past price action and displays every past patternThe indicator analyzes its own quality and performanceIt includes a multi-symbol and multi-timeframe scannerIt displays suitable stop-loss and take-profit levelsIt uses breakouts to signal suitable tradesIt plots all the pattern ratios on the chartIt implements email/sound/visual alertsInspired 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 make it easier to trade: it waits for a donchian breakout in the right direction before signaling the trade, making its signals very reliable.Fibonacci projections are vector-independentIt implements email/sound/push alertsIt plots the ABCD projectionUsage TipsThe amplitude parameter controls the pattern size in barsLoad the scanner indicator once to monitor many symbols and timeframesPatterns can expand but signal breakouts mostly do not: wait for signalsAvoid trading if higher timeframes display a strong trend against your tradeUse the suitable SL and TP levels displayed by the indicatorTechnical InformationThe indicator evaluates at bar closing onlyPatterns are displayed as soon as the XD and CD ratios are validPatterns can expand, repaint and become other patterns, with different namesBreakouts are mostly non repainting and enough to reverse the market movementSet a higher breakout period to decrease the odds of the indicator repaintingStop-loss and take-profit levels are calculated using fibo ratiosThe scanner loads blank, it never scans patterns to the pastThe scanner opens charts using your default chart templateImportant: Some pattern names have been renamed to self-explanatory alternatives to comply with a trademark complaint from Mr. Scott M. Carney, who owns the following trademarks in the USA: Harmonics, Harmonic Trading, Bat Pattern, Butterfly Pattern, Shark Pattern, Crab Pattern and Five-O Pattern.Supported Harmonic Price FormationsNameMin XBMax XBMin ACMax ACMin DBMax BDMin XDMax XDFlying Fox0.3820.50.3820.8861.6182.6180.8860.886Gartley0.6180.6180.3820.8861.2721.6180.7860.786Lobster0.3820.6180.3820.8862.243.6181.6181.618Dragonfly0.7180.7180.3820.8861.6182.6181.2721.618Cypher0.3820.6181.131.4141.2722.00.7860.786Barracuda--1.131.6181.6182.240.8861.13Alt Flying Fox0.3820.3820.3820.8862.03.6181.131.13Deep Lobster0.8860.8860.3820.8862.6183.6181.6181.618White Swan1.3822.6180.2360.51.1282.01.1262.618Black Swan0.3820.7242.04.2370.50.8860.3820.886Max Bat0.3820.6180.3820.8861.2722.6180.8860.886Max Gartley0.3820.6180.3820.8861.1282.2360.6180.786Max Dragonfly0.6180.8860.3820.8861.2722.6181.2721.618Alt Barracuda0.4460.6180.6180.8861.6182.6181.1281.128A Lobster0.2760.4461.1282.6181.6182.6180.6180.618A Dragonfly0.3820.6181.1282.6181.2721.2720.6180.786A Flying Fox0.3820.6181.1282.61822.6181.1281.128A Gartley0.6180.7861.1282.6181.6181.6181.2721.272Sea Pony0.1283.6180.3820.51.6182.6180.6183.618A brief introductionThe harmonacci methodology utilizes the recognition of specific price patterns and the alignment of exact Fibonacci ratios to determine highly probable reversal points in the financial markets.
• This methodology assumes that trading patterns or cycles, like many patterns and cycles in life, repeat themselves.
• The key is to identify these patterns, and to enter or to exit a position based upon a high degree of probability that the same historic price action will occur.