PZ Five O
Are you a harmonic trader? The Five-O is a 6-point retracement harmonic pattern which usually precedes big market movements.
- Find five-o patterns easily
- Useful to find cheap and expensive zones
- Customizable XB, AC and BD ratios (for purists)
- Customizable breakout periods
- Visual/sound/push/mail alerts
Other Harmonic Trading tools you can find useful are:
The only functional parameters are the following. Everything else are self-display options.
- Size of the patterns: Minimum size of the patterns to be found
- Breakout period: Donchian breakout needed to display an arrow
- Max. History Bars: Amount of past bars evaluated by the indicator.
Some Nitty-Gritty Details
- The indicator is evaluated every bar, not every tick.
- The last point of the pattern repaints as the pattern expands.
- You can have several indicators on the chart with different pattern sizes (recommended)
- An alert is displayed when the pattern forms and also when the breakout takes place.
- A small percentage of trading signals can repaint. You can increase the breakout period.
Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.
- Added alerts for patterns and breakouts as separate events