Pattern Rocognition Indicator (s) - page 7
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Attached is the 1-Hour EUR/USD chart with the aforementioned Bullish Gartley I've added the indicator QTA_v4, which displays on the bottom. This indicator plots Fibonacci ratios moving left to right and into the future. Some know this as the fib time zone (on MT4 platform, click "Insert", "Fibonacci, "Time Zones"). However, when I tried to plot this using the fib time zone, from the same start point, it did not duplicate the fib points as shown by the QTA_v4. I inserted arrows at the candles denoting the major fib ratios, which coincides with turning points of this pair on the 1-Hour chart. Although not every major fib hit a turning point, this tool was much more consistent than the fib time zone. The furthest arrow to the right of this chart, pointing down, was the location of the top of the trend line (I assume its' Andrews Pitch Fork or fib channel). This also was the 78.6% retracement fib as noted on my previous post. In other words, an additional tool for exit for this scenario. Attached is the indicator QTA_v4. I'll have to research what exactly the 2 designations HH and LL mean. Higher high, lower low perhaps, but how to interpret? The QTA_v4 was used by "the contributor" as mentioned in my first post of this thread, to pair up with the ZUP.
Thank you fxbaja. But my question is, what do you look for as confirmation with the QTA_v4 indicator? a certain fib level or designation?
THank you!
Thank you fxbaja. But my question is, what do you look for as confirmation with the QTA_v4 indicator? a certain fib level or designation?THank you!
The QTA indicator make 2 plots. The goal is to find fib clusters. In other words, a point in time where both plots have a fib in the same spot/time.
The same fib ratios can be used as in horizontal plots.
Here is one example in the A-B-C-D thread:
Page 259 Post #2581
https://www.mql5.com/en/forum/198355
If your question pertains to the use of the QTA with the ZUP, then the original post explains that the coder added the QTA in an effort to see potential turning points ahead of time.
Obviously, the QTA may not always project fib clusters that correspond with the ZUP pattern's Point D (Entry).
Users can also move the plots manually by clicking on plot points. First must go into "objects list" function and turn on color of plot lines (common tab).
To find more examples, use the function "Search This Thread" and enter key words "QTA fib time zone".
This pattern iss featured in the A-B-C-D thread in the Tutorial Section today, page 301 post #3005.
Harmonic pattern (Harmonic Patterns) or often called ABCD pattern analyst tool created by Harold McKinley Gartley. To highlight the various five-point chart patterns, the user can manually draw and five points separate maneuvers (XABCD). XABCD points made four separate legs joined to form the chart patterns. The fourth leg is referred to as XA, AB, BC, and CD.
Harmonic pattern (Harmonic Patterns) or often called ABCD pattern analyst tool created by Harold McKinley Gartley. To highlight the various five-point chart patterns, the user can manually draw and five points separate maneuvers (XABCD). XABCD points made four separate legs joined to form the chart patterns. The fourth leg is referred to as XA, AB, BC, and CD.
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