Hi, Andre, first up thank you very much for your replies above!
Just curious: would it be possible for you to post an MT4 version of this
harmonic indicator? Thank you!
Although it might be possible in a strictly literal interpretation of your question, I am not going to post an MT4 version and don't use MT4 either.
I don't have any further tabularization of the pattern ratios at hand other than what's in the code. Some of the ratios are adapted from this list though:
how do I install and configure this indicator on MT5 ? Please assist.
This has the benefit that the program is configured automatically and added to your indicators in the 'Navigator'.
Alternatively, you can download the files from this site. Then you must:
There is no panel, all the settings are given as inputs. If you want to store the settings either edit the script (file 'HPFGlobals.mq5') or save a template. After editing and saving changes to 'HPFGlobals', it is still the file 'HarmonicPatternFinderV3' that must be recompiled.
First off let me say, great job on this indicator. I think i have found a potential calculation error with the Cypher pattern.
The one that is currently being drawn on my chart isn't reaching the correct point D, being the 78.6% retracement of the X to A leg.
Am i getting this correct or doing something wrong? All other legs look PERFECT :D. I have attached a screenshot
How do you take a
trade when price is getting close to your chosen pattern? Do you just set your
pending order right at ‘PRZ start’? Or do you use other techniques?
Also I notice
price often doesn’t really get to ‘PRZ start’ exactly (meaning you may miss the
entry), how do you cope with this?
Thank you for your
The cypher 78.6% retracement is measured from the X to C leg (since C exceeds A), which is the same on Nen-star too.
I set an alert at the PRZ start, a stop loss some ticks beyond the PRZ end, and generally execute manually inside but could also set a pending order at the exact PRZ level (in between the start and stop) if for some reason I can't observe the market. If the price doesn't reach the PRZ start it might be best to forget about that particular trade opportunity.