Harmonic Trading - page 592
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Hi All,
I got some difficulties to setting ZUP 148 by Nen.
These text is from ZUP explanation by Nen...Do some one translate into English ? Or Some One Has done it...
Thank you in advance
Some parameters' explanation is available on this article (which was written by Nen):
ZUP - Universal ZigZag with Pesavento Patterns. Part 2
and some more articles:
ZUP - Universal ZigZag with Pesavento Patterns. Part 1
and the last one: ZUP - universal ZigZag with Pesavento patterns. Graphical interface
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And a Word file with the parameters (in english) is attached.
Patterns
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Press review
Sergey Golubev, 2017.08.03 16:13
Harmonic Trading – Different Gartley Methods (based on the article)
"The beauty of the original Gartley pattern comes from the money management system involved. Money management with Gartley allows for hefty 1:3, 1:4 or even more as risk-reward ratios. If you want a Fibonacci and Gartley approach, look for no swing above 61.8% of the previous move lower. The series of lower highs overwhelms. Bulls look trapped. Gartley labeled this segment A-B. The longest in the pattern. And then, suddenly, bulls catch a bid. This is the B-C segment. How do we know this bounce matters? The answer comes from the A-B characteristics: the lower highs series gets broken by the B-C segment."
"Larry Pesavento took Gartley’s original work to a new level. Because of him, the Gartley 222 pattern became a well-known harmonic pattern today. The “Gartley 222” method as described by Pesavento derives its name from the page no. 222 from the original Harold’s Gartley’s book. The most simplistic representation of the Gartley 222 pattern looks like this" :
"Carney was a student of Pesavento. He didn’t like to leave to many possibilities for the retracement levels, so he worked on finding a better approach. Carney’s approach to harmonic trading was made public at the turn of the century. His approach uses specific Fibonacci ratios between the Pesavento’s Gartley 222 pattern."
"Traders need to know that harmonic patterns work best with a sound money management system. Before defining the target, one must deal with the potential loss."
Hello,
I am brand new in Harmonic Patterns.
I am using ZUPv148 in demo mode and I understood what terms like "gartley", bat or butterfly mean, but TOTAL ? What does it mean exactly ? That the pattern is no more emerging and finished ?
If that's it, so why trying to trade with the other patterns ? I read ZUP Parameters and it's possible to choose which pattern you want to trade with.. very interesting
Hello,
I am brand new in Harmonic Patterns.
I am using ZUPv148 in demo mode and I understood what terms like "gartley", bat or butterfly mean, but TOTAL ? What does it mean exactly ? That the pattern is no more emerging and finished ?
If that's it, so why trying to trade with the other patterns ? I read ZUP Parameters and it's possible to choose which pattern you want to trade with.. very interesting
I understand TOTAL as the following: the indicator is searching all the patterns available: forming and already finished as well.
For example - I see the following (from the settings) -
----------------
SelectPattern - specifying the groups of five-points patterns:
0 - searching for all the patterns;
1 - searching classical patterns only (Gartle, Butterfly, Bat, Crab, except TOTAL);
3 - seaching exotic patterns and exotic anti-patterns, excelt TOTAL;
4 - searchig anti-patterns only except TOTAL;
5 - searchig all patterns except TOTAL;
6 - searchig TOTAL only;
7 - random selection of five-points patterns for searching with the visiblePattern parameters;
8 - disabled the searching of five-points patterns.
----------------
----------------
By the way, the settings is a bit complicated ...
Thank you Serguey for your message.. :)
Well, I agree, settings are not so easy.. The word document ZUP Parameters is very helpful... and my knowledge in coding are very bad.. :(
The indicator is very powerful combinated with other indicators (I use Trend Schaff Cycle) and it gives good signals.
Anyway, As I understood your message the "TOTAL patterns" are in fact all patterns (conventionnal, antipattern, 3 points, dragons and so on..) (setting 6 in the indicator)..
But what about setting 5 ? (searching all patterns ?, if TOTAL means the totality of all patterns ?) the difference between setting 5 and 6 ?
But this indicator is anyway very powerful.. :)
...
But what about setting 5 ? (searching all patterns ?, if TOTAL means the totality of all patterns ?) the difference between setting 5 and 6 ?
...
I do not know. I just translated the comments which the coder made inside indicator using MetaEditor (from rus to eng).
There are no any words describing about TOTAL in comments inside indicator.
If someone can understand the code (I am not a coder sorry) so he can tell us about those differences ...
I just found some image related to TOTAL -
It was image from the coder ...
And there are the following patterns (ZUPv148):
// 1 Gartley
// 2 Bat
// 3 Alternate Bat
// 4 Butterfly
// 5 Crab
// 6 Deep Crab
// 7 Leonardo
// 8 Shark
// 9 Cypher
// 10 Nen STAR
// 11 5-0
// 12 A Gartley
// 13 A Bat
// 14 A Alternate Bat
// 15 A Butterfly
// 16 A Crab
// 17 A Deep Crab
// 18 A Leonardo
// 19 A Shark
// 20 A Cypher
// 21 A Nen STAR
// 22 A 5-0
// 23 Black Swan
// 24 White Swan
// 25 Navarro 200
// 26 max Bat
// 27 max Gartley
// 28 max Butterfly
// 29 TOTAL 1
// 30 TOTAL 2
// 31 TOTAL 3
// 32 TOTAL 4
// 33 TOTAL