Harmonic Trading - page 347

[ozan]

poruchik , thanks for letting us to know unpopular but very powerful patterns like "Leonardo" . I really like this pattern.

I've made a 5 years backtest and it's success rate is over 80.

Bearish Leonardo on NzdJpy Weekly & Monthly

[finster869]

grandaevus:
###ZUP_v113wsv43 checks the patterns on last leg only. Past pattern search is locked. Which means, indicator will only draw a pattern if it's found on last leg=current leg. if it can't find a pattern on last leg=current leg.

In the next version, I'll unlock this future. Indicator will first search patterns in the last leg, then looks for past patterns in previous legs.

But alert,sendmail & playalert function will run if a new pattern is detected in last leg.

Let me explain it :

Last leg is a down leg and ###ZUP_v113wsv43 doesn't draw anything since nothing is detected in the current leg.

Now new version ###ZUP_v113wsv45 (beta stage)

Last leg is a down leg. But on previous up leg, ###ZUP_v113wsv45 detects a 5-0 pattern and draws it.

Wow, this will be a tremendous improvement!!! Can't wait to try it out.

[poruchik]

grandaevus:
poruchik , thanks

grandaevus you weren't at war together Gojko Mitić?

[caparzo]

hi grandaevus ,

which EA are you using for backtests?

[ozan]

poruchik:
grandaevus you weren't at war together Gojko Mitić?

poruchik, what are the fibonacci retracements of pattern "3 IND 1"?

[finster869]

When do you anticipate posting ###ZUP_v113wsv45 for us to try out?

[nigelpknight]

grandaevus:

• Never use a maximum deviation more than %5 for Fibonacci retracement deviations & leg lengths.
• Never use a maximum deviation more than %10 for time deviations.
• When a pattern is detected, I always look for a fib expansion inside the D box area. If there's not, I don't enter the trade.
• I check C point. If it's too close to D point , I don't enter the trade (depends on your time frame)

These are my main trading principles with Harmonic patterns. This discipline gives me a success rate of %80 - 85

Thank you for sharing your rules and a 80+% rate of successful trades is very impressive. I will look to replicate your results using your version of ZUP and will post some charts of setups that I find.

This thread covers the ZUP indicators progression very well, but seems limited in trader examples and their rules on how they get the best results from trading Harmonic Patterns, so I will try and contribute with what I look for when taking a trade (through giving chart examples), but I am very keen to learn from others about their rules for entering trades.

[nigelpknight]

grandaevus:
###ZUP_v113wsv43 checks the patterns on last leg only. Past pattern search is locked. Which means, indicator will only draw a pattern if it's found on last leg=current leg. if it can't find a pattern on last leg=current leg.

In the next version, I'll unlock this future. Indicator will first search patterns in the last leg, then looks for past patterns in previous legs.

But alert,sendmail & playalert function will run if a new pattern is detected in last leg.

Let me explain it :

Last leg is a down leg and ###ZUP_v113wsv43 doesn't draw anything since nothing is detected in the current leg.

Now new version ###ZUP_v113wsv45 (beta stage)

Last leg is a down leg. But on previous up leg, ###ZUP_v113wsv45 detects a 5-0 pattern and draws it.

Will you be adding the solid pattern option to ###ZUP_v113wsv45 as well as Zig Zag pattern? because I really like the old style solid patterns.

[poruchik]

Three Little Indians setup popularized by Linda Bradford Raschke (also known as Three Pushes to a Top, Three Drives, Three Waves to a Peak, Three Monkeys on a Branch, etc), and also the concept of the Wolfe Wave, a subset of Three Little Indians which has more particular rules, but which in return provides clear entry and exit targets.

[ozan]

poruchik:
Three Little Indians setup popularized by Linda Bradford Raschke (also known as Three Pushes to a Top, Three Drives, Three Waves to a Peak, Three Monkeys on a Branch, etc), and also the concept of the Wolfe Wave, a subset of Three Little Indians which has more particular rules, but which in return provides clear entry and exit targets.

Bolshoye spasiba poruchik. I'll test & add this pattern to next version. As far as I can see from the picture, this pattern needs a 5 leg = 6 dots zigzag search. This is why I've extended the regular 4th leg zigzag search of zup to a 5th leg search.