Crown Head & Shoulder

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i found this indicator here ,

but i don't know how it works & what does it mean

 
kappari:
i found this indicator here ,

but i don't know how it works & what does it mean

This is information from www.babypips.com

I an not claiming it as mine, just thought it may help you.

Head and Shoulders

A head and shoulders pattern is also a trend reversal formation. It is formed by a peak (shoulder), followed by a higher peak (head), and then another lower peak (shoulder). A “neckline” is drawn by connecting the lowest points of the two troughs. The slope of this line can either be up or down. In my experience, when the slope is down, it produces a more reliable signal.

In this example, we can visibly see the head and shoulders pattern. The head is the 2nd peak and is the highest point in the pattern. The two shoulders also form peaks but do not exceed the high of the head.

With this formation, we look to make an entry order below the neckline. We can also calculate a target by measuring the high point of the head to the neckline. This distance is approximately how far the price will move after it breaks the neckline.

You can see that once the price goes below the neckline it makes a move that is about the size of the distance between the head and the neckline.

The indicator you posted is showing the formation, along with the neckline- thats the yellow line in your screen shot.

 

thanks Mazoem ,

but i think crown hd & shldr. is much more differnt than the original hd & shldr.,

by looking to the posted chart u can see the indicator using fibo levels to determine the pattern

 
kappari:
thanks Mazoem ,

but i think crown hd & shldr. is much more differnt than the original hd & shldr.,

by looking to the posted chart u can see the indicator using fibo levels to determine the pattern

Try this article. It explains the fib entries.

http://partners.futuresource.com/fbp/2004/041604.htm

 
Mazoem:
Try this article. It explains the fib entries. http://partners.futuresource.com/fbp/2004/041604.htm

Many thanks Mazoem

i realized the idea now ,

i found the attatched pdf while searching the net , i hope it can help ,

i began to see that pattern every where ,

pls take a look at that EUR chart and feel free to tell me what u think about the pattern

Files:
crown_hdampshldr.pdf  525 kb
 
Here is a famous book about realationship between fibo & chart patterns

Fibonacci Ratio & Pattern recognition

by larry Pesavento

page 92 " Classical chart patterns using ratio & proportion
 

hi everybody

could u help the beginner kappari about that pattern ,

is it a Crown HD & SHLDR ?

 

Hello to all.

I'm looking for head & shoulder indicator

or similar in source o ex4

Please can you help me.

 
kappari:
Here is a famous book about realationship between fibo & chart patterns

Fibonacci Ratio & Pattern recognition

by larry Pesavento

page 92 " Classical chart patterns using ratio & proportion

Where is the link?

 

Does anyone have a crown or head and shoulder indicator? I found one on the net somewhere, but it was expired so it's not working. Can someone make the expired one work again? Please pm me or upload it here if you have it. Thank you.

 

Look at ZUP indicators on the first post of this thread https://www.mql5.com/en/forum/173588 - may be it will help. But I am not sure sory.

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