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forexmmm
190
forexmmm 2015.12.21 08:19 
Hi,

I am looking for a correctly coded harmonic indicator that shows most if not all of the standard harmonic patterns (shark, abcd, gartley, butterfly, crab, etc)

There are many out there such as the Korharmonics and ZUP indcitor, but both of these have the same issue with the last leg of the pattern repainting itself. This is due to the fact that they both use the zig zag indicator as its primary
measurement for highs and lows and pattern formations. This is absolutely incorrect and not the way it should be done. What happens is that you will get a pattern formation but the final lag will go up and down with the zig zag thus you have no
idea when or where the pattern ends and are left guessing as to its validity.

The harmonic patterns should be drawn and based off math. Not the zig zag indicator.

Anyone have such an indicator? Please message me

- forexmmm
Alain Verleyen
Moderator
30260
Alain Verleyen 2015.12.21 09:52  

The KorHarmonics indicator doesn't use ZigZag indicator, it use a "custom" method to find highs/lows.

The ZUP indicator is proposing lot of methods to find highs/lows, no one is effective enough ? (I didn't check my self).

The harmonic patterns should be drawn and based off math. Not the zig zag indicator.

Not sure I get your point here, before doing the maths you need the highs/lows, so you need an algorithm to find them. The last high/low can always change.

Lorentzos Roussos
8660
Lorentzos Roussos 2015.12.24 12:05  
The D Point of the pattern is based off of a ration of X to A anyway . 
Is your concern the D Point is not accurate enough?
Alain Verleyen
Moderator
30260
Alain Verleyen 2015.12.24 16:42  
Lorentzos Roussos:
The D Point of the pattern is based off of a ration of X to A anyway . 
Is your concern the D Point is not accurate enough?

I think the problem is the D point is moving (or may move), as a new high or low will appear.

I don't think there is an unique solution, it depends of the trader view, and if some deviation is accepted for the fibo numbers.

Lorentzos Roussos
8660
Lorentzos Roussos 2015.12.24 17:17  
Alain Verleyen:

I think the problem is the D point is moving (or may move), as a new high or low will appear.

I don't think there is an unique solution, it depends of the trade view, and if some deviation is accepted for the fibo numbers.

Yes it falls within a valid range . buy if points XABC have ... done repainting , the D Point will point to the same price regardless if the market went there actually.
Alain Verleyen
Moderator
30260
Alain Verleyen 2015.12.24 19:46  
Lorentzos Roussos:
Yes it falls within a valid range . buy if points XABC have ... done repainting , the D Point will point to the same price regardless if the market went there actually.
Sorry I don't get your point.
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