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We often borrow from our tommorrows to pay our debts to our yesterdays.
As always, who knows!?!.Let see what will happen....
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I wrote this little indicator, based on the Zig-Zag indicator.
Am I doing the calculation right?
The number in [] is the number of bars since last zig-zag and the 2nd number is the number of points

Thanks

Attached Images

Harmonic.JPG (128.3 KB, 429 views)

Because we are above the 61.8% level (linear scaling) and pattern's PRZ is pointing to the same level as the 78.6% retracement.

hi Esbee
very nice reason and answer.i'm glad u r here.keep going

__________________
We often borrow from our tommorrows to pay our debts to our yesterdays.
As always, who knows!?!.Let see what will happen....
-------------------------------------------------

hi elihayun
take a look at the pic u will find the problems.

__________________
We often borrow from our tommorrows to pay our debts to our yesterdays.
As always, who knows!?!.Let see what will happen....
-------------------------------------------------

Thanks for the answer. I am not saying that this is a pattern. I wanted to create a tool that give u the ratio, every time the Zig-Zag is creating. Its up to the trader to decide if the ratios are harmonic or not.
My question was, if I am doing right the calculation.
The tools (if the calculation correct) can give you the ratios in one quick glance. Once you have close enough ratio, you can do the calculation yourself to see the reversal point and so. What do u think?

I'm not a programmer but I'm interested in finding out how one codes a past value of the zigzag indicator and draw a line from that old point to another zigzag point. Is there any sample code for that? Maybe even from another widely available indicator? Does one have to create an array and call values from it? I'm not sure I've ever done that. Or is it best to create a variable and have it dynamically updated using a loop function? I think I've seen this done in another indicator for a price field but I tried a little and I'm having difficulty calling past values of the zigzag indicator. I've been spoiled with easier charting languages and the shortcuts they provide like a peak and trough function and the ability to reference previous values easily. I haven't learned that yet with MQ4 although I do understand that MQ4 is ultimately a more powerful language. I guess all my time so far is trying to identify what particular bar I'm on. I've only recently figured out what the entire i-1 and i-- business is about and deciphered that subtracting 1 from i brings one forward and not backward, that it starts with a large number and goes down to a small number, the reverse of what I'm used to. Could anyone point me to some useful code or a thread that discusses these programming issues? Thanks.

is this a legimate bearish butterfly pattern...

Attached Images

chart2.gif (23.9 KB, 382 views)

My indicator find out the same points, but my calculation are different. see attachment. Are u guys change the calculation if it is close enough to the harmonic number? and if so, how u define "close enough"?

I added the indicator itself to answer another question in the forum.

Attached Images

harmonic_calc.JPG (197.4 KB, 484 views)

Attached Files

h0_ZigZag.mq4 (8.2 KB, 264 views)

IDK,

If B retraces 61.8% of XA, I look for a Gartley and only Gartley (and consider it as failed, if price breaks the PRZ.

If B retraces 78.6% of XA, I look for a butterfly only.

In your butterfly example, B retraces 61.8% and therefore is NOT a perfect pattern. Personally, I do not trade those (another reason, why I do not trade EUR short is shown below). Maybe some do, I don't know, would be interesting to see their winning rate on those "unperfect" patterns.

Here is the reason, why I would not go short EUR at the moment (might be wrong, of course):

A bullish bat combined with a bullish butterfly on USDCHF

Attached Images

chf.jpg (144.5 KB, 398 views)