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OK, I think I understand the difficulties there as it has to wait for a_ZZ. As I'm writing this, I'm seeing things happening on GBPUSD, look at the attachment. The first picture is when it printed a Gartley that got detected just 1 bar prior at 1.7477. On the next bar it printed AB=CD on 1.7485. Then on the bar after, it printed Butterfly on 1.7491. The consequences is that after showing a Gartley and had a signal, I would've go to short immediately on the next bar, which of course not the best entry as price still went up to 1.7491. But then again, this is a M5 TF, so things can get overide quickly. I'm just doing it on M5 instead of longer TF so I don't have to wait too long to see a pattern .
Anyway, this is a good improvement Shadow ! and thanks for the alert too.
HI
i want to say u that establishing a pattern is not an entrey signal.as i said earlier in working with pattern according to the rules and ratios of each pattern we can determine a PRZ(Price Reversal Zone) so,the reversal of price is probable in the area.
BUT
a patternd would be failed.consequently, just having a pattern is not an entry rule.
entry rules
we have many kinds of the rules.the most famous and proper rules are the candlestick reversal patterns like Doji,ShottingStar,Hammer,Hangman.these are the famous ones.so after determining a patt and the PRZ we should get confirmation for opening an order and it is occuring thse kinds of cadle stick pattern in or near(in some cases not exactly in the prz) prz.
the other important point is you should check the entry with long term trend .it gives u a significant view of price movment.
patterns failure
some times price action shows us the pattern is failed(like the case u attached)we have some signs for these phenomenan.
the most important one is candle stick Tail close (look at your case).it means, the candle breaks PRZ without shadow(in your case it has not high.in other words,the high and open is equal so the pattern is failed and we should wait for occuring another pattern or a significant reversal signal.
in working with patterns:
determining a pattern is a case
and the more important case is the best entry price.
to put it simpley,just establishing a patterns is not an entry signal.(very important)
Hi Kamyar.. yes that is very true of what you said, especially on such short TF like M5, while longer TF has better chance of successfull reversal. My sole purpose this time is just for testing the indicator and how it behaves.
Quote:
Originally Posted by mietectec
I'm just doing it on M5 instead of longer TF so I don't have to wait too long to see a pattern .
The new version gets really strange on M5, check this out.
First I want to thank all of you guys who are putting hard work on this thread. Second I want to share how I have set up this system. In order to view all parameters (lenght 1...10) I opened 9 charts with the parameters 1...10 ( I left param. 8 out) as the picture, then I save it as a profile, and do the same in other currency, that way I can see all parameters and I just change time frames. I hope this helps. any questions just ask.
thanks
First I want to thank all of you guys who are putting hard work on this thread. Second I want to share how I have set up this system. In order to view all parameters (lenght 1...10) I opened 9 charts with the parameters 1...10 ( I left param. 8 out) as the picture, then I save it as a profile, and do the same in other currency, that way I can see all parameters and I just change time frames. I hope this helps. any questions just ask.
thanks
hi polo
tanx for sharing.i should say it is amazing i'll check the way.keep going
i am posting this to make finding the last pruducts easier.
as shadowwz said said here are two kind of harmmony indicator
1-based on a_zz indicator
2-based on zigzag indicator
here are the last updated versions of those two kinds indicator
@SHADOWWZ
hello.your job is good and fantastic.
and here are the latest version of the indicators
.
Linear Mode
