Ross, what software do u use to capture the picture input settings ?

__________________
The water element is the most flexible of all elements.

wltien,
my INFO indicator does not filter false signals. It takes the signals that ZUP creates and sends you an alert. You need to use your own discretion as to whether or not the trade is "safe" and whether or not you trade on the signal.

Entry Risk as defined by INFO is the difference between the price level where the pattern is at it's maximum possible size before it is no longer a valid pattern (pattern failure point) as defined by nen, and the current price. See attached. Of course true risk is defined by your stop. With no stop your risk is infinite.

So the least risky trades are the ones where Point D (the end point of the right-most blue triangle) extends almost to the maximum level of the red box, the pattern ratios are the standard widely accepted ones, and the larger trend is in the direction of the signal.

Not all patterns identified by nen's indicator use the standard classic ratios, so in the view of many traders, they are not all valid patterns. See the famous patterns post by kamyar on page 1, post 4 of this thread.

However, nen has created an excellent indicator since it does identify the good patterns too.

WRR

Attached Images

risk.gif (18.5 KB, 1269 views)

WRR, thank you very much for your kind response.

Maybe your info can include whether it's a standard pattern or just a similar to classic pattern. I think this will great help.


Cheers,
Wltien

Wltien,
from my perspective, standard patterns, classic patterns and standard classic patterns all mean the same thing. These patterns have retracements, expansions and AB/CD ratios that are correct as defined by a number of experts over the years including Larry Pesavento.

nen's ZUP program identifies patterns that do not always fit the standard definitions. My programming skills are not advanced enough for me to be able to write code that determines if the patterns meet the standard definitions. I was hoping nen would endevour to fine tune the program to only identify the standard patterns.

ZUP does however change the colour of the retracement ratio numbers to lime green (current setting) if the ratio is one of the fibo numbers nen has coded in. If you don't see any lime green numbers then likely it is not that great of a pattern. But you still must check the pattern manually.

The alert code I have written, is simply to draw your attention to a new pattern that may be a good trading opportunity. You must decide if it is a standard pattern and if the trading conditions are suitable to take the trade.

So far, ZUP is the best free harmonic pattern code I have seen for MT4. If anyone knows of better code, please let us know.

WRR

Thanks WRR, I totally agree with you. Indicator is always a reference for trading entry, and not the absolute signal for us to enter trade.

If we really want to filter all false signal, I think there will be a very difficult indicator.

I think from now onwards, other than try to polish nen's zup indicator, we must share the success and failure of real trading experience, so that we can master this indicator.

Piper,

I use Snagit 8.2.3. Select "scrolling window" profile.

does anyone has an exitstrategy for the harmonic patterns?

thanks for your sharing.it's very interesting.

Hi,
Is the notation 0.382;0.886 in the attached image means that all numbers between the two values are acceptable, or only 0.382 and 0.886 are able to determinate a valid pattern?
thanks.

Attached Images

patterns.jpg (9.0 KB, 1059 views)