Advanced Pattern Software gartley bat and cypher
Advanced Pattern Recognition Indicator
If you struggle to have a consistent strategy, this indicator is just great for you. Also known as "harmonic patterns", this indicator is a tool for those who want to take money from market when the price is just a mess. This software helps you to identify patterns such as Gartley, bat and cypher. This indicator does not redraw like all the "harmonic software" you will find in the market. This feature gives you enough time to decide if it is a good trade opportunity (risk reward ratio and support/resistance levels). Remember that you should not trade all the opportunities, but only the best ones.
Suggestions for Trading with this Tool
Load 3 indicators in your chart window with this inputs: barforsearchextremum = 5. barforsearchextremum = 10. barforsearchextremum = 20.
- Entry at D point (the end of the pattern).
- Set stop loss 10 to 15 pips away from x point (the beginning of the pattern).
- Set target profit at 38 Fibonacci retracement (attached images).
- You can also set a second take profit at 61.8 Fibonacci retracement (attached images).
- Avoid trading while important news (they like to mess with patterns).
- Use 1 hour and 4 hour time frames.