The Gartley Online Patterns indicator is your personal generator of high-quality market entry signals. To do this, just connect it to the VPS (according to the MQ rules, indicators only migrate together with advisers, so you can use the "Trading Expert for Gartley Patterns Indicator"
). This EA does not trade, it is needed only for the migration of the Gartley indicator. After migration, you will receive PUSH notifications
on the phone immediately after the formation of the figure. The optimal timeframe is H1.
Harmonic patterns are a very accurate tool that characterizes very specific price movements. The Gartley pattern is a correctional figure indicating the continuation of an existing trend. The main trend, in this case, temporarily changes its direction before returning to the started movement. That is, there is a temporary correction in the form of an ABCD figure. The deal is entered at point D.
Determining harmonic patterns by eye is quite difficult and not for every beginner to do. The main harmonic patterns (Hartley, Butterfly, Crab, Bat, Shark and Cipher) are based on 5 key points, including an ABC or ABCD figure. Price fluctuations within the figures are always interconnected and based on certain harmonic coefficients.
Each pattern, to one degree or another, resembles the shape of the letter M or W. 5-point patterns begin to form at point X, followed by an impulse wave XA, after which the price makes a correction, forming the leg AB. Then follows the BC leg in a direction parallel to the initial impulse. The pattern ends with the corrective foot CD.
The harmonious relationships between the waves determine whether the wave is corrective or expanding - these relationships make up the uniqueness of individual figures. At the same time, all patterns are united by the presence of an ABC figure.
This is the whole point of harmonic patterns - we are looking for an ideal figure that forms the right proportion and has a natural symmetry. Then, if the figure is formed correctly, we can count on a large profit. Naturally, not everything is so simple, an additional filter is needed. As a filter, MACD and MA_6 can be used.
1) Received signal: on EURUSD 60 pattern Bear Bat. This pattern means that the growth of the pair is over and the fall will go. We look at the pair chart on our smartphone. If MA_6 is at its highest point, excellent. Next, look at the MACD - all lines above zero - fine. The figure has formed, you can safely sell. If MA_6 is not growing, but is in limbo, then the figure is not ready yet, it’s too early to sell.
2) MA_6 is growing, MACD lines are above zero, the price is rising and a signal has arrived: on EURUSD 60 pattern Bull Bat. This means that the price will continue to rise, update the maximum and drop sharply, as the bullish signal came up at the end of the trend, and not at the beginning.
3) If there is a signal on EURUSD 60 pattern Bear Crab this is great. This figure is rare, but very reliable. She says that the price is on the verge and is ready to fall down at any moment. By inertia, it can still go up 30-50 points, but at the first turn MA_6 down, feel free to sell.
This is just a small part of the examples. To fully master this method, it’s good to practice on a demo account.
Advantages of a harmonious approach:
- Harmonic patterns predict future price movement, which greatly simplifies finding an entry point, setting goals and stop loss;
- Patterns are often found on the chart, give a fairly reliable signal and are highly profitable setups;
- Almost all figures have clear standardized construction rules, which eliminates uncertainties;
- One principle works for all timeframes and types of instruments;
- They can be used together with other technical indicators / trading methods;
- When you connect your account to VPS, you can easily track 32 pairs without sitting for hours near the screen, but only at the most important moments, it is enough to have a smartphone.