Discussing the article: "Automating Trading Strategies in MQL5 (Part 31): Creating a Price Action 3 Drives Harmonic Pattern System"
Why the ea not shown on the graph and what should be the optimization number to use the ea and minimum trading amount?
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Check out the new article: Automating Trading Strategies in MQL5 (Part 31): Creating a Price Action 3 Drives Harmonic Pattern System.
In this article, we develop a 3 Drives Pattern system in MQL5 that identifies bullish and bearish 3 Drives harmonic patterns using pivot points and Fibonacci ratios, executing trades with customizable entry, stop loss, and take-profit levels based on user-selected options. We enhance trader insight with visual feedback through chart objects.
The 3 Drives pattern is a harmonic trading formation defined by six key swing points—A, B, C, D, E, and F—existing in bullish and bearish forms, designed to identify reversal zones through a series of three consecutive price drives with specific Fibonacci retracements and extensions. In a bullish 3 Drives pattern, the structure forms a high-low-high-low-high-low sequence where A is a swing high, B a swing low (first drive), C a swing high, D a swing low (second drive), E a swing high, and F a swing low (third drive, below D and B), with each retracement (BC, DE) at approximately 0.618 or 0.786 of the prior drive and each drive (CD, EF) extending 1.13 to 1.618 of the prior retracement; a bearish pattern reverses this sequence with F above D and B. Here is a visualization of the patterns:
Bearish Harmonic 3 Drives pattern:
Bullish Harmonic 3 Drives pattern:
Author: Allan Munene Mutiiria