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Using Japanese candlestick patterns with Price Breakout Pattern Scanner

Price Breakout Pattern Scanner combines several trading systems in one product. Properly used, they can yield excellent trading results. One of the trading system built inside Price Breakout Pattern Scanner is Japanese candlestick patterns. Price Breakout Pattern Scanner can detect 52 different Japanese candlestick patterns. They are categorized under five categories including one, two, three, four and five candlestick patterns.

To use Japanese candlestick patterns, you have enable the candlestick pattern from Price Breakout Pattern Scanner. See the attached screenshot for the purpose. Then you can switch on and off the individual category of patterns according to your preferences. For example, you can only use two and three candlestick patterns if you wish.

In addition, you can also receive sound alert, email and push notification when new Japanese candlestick patterns are detected.

https://www.mql5.com/en/market/product/4859

https://www.mql5.com/en/market/product/4858

https://algotrading-investment.com/portfolio-item/price-breakout-pattern-scanner/

Gartley Pattern Study

This study involves to exam 96 Gartley Patterns, historically formed in Forex and stock market index Chart. First screenshot is taken with Garltey Pattern only. Second screenshot is taken with Gartley pattern + Supply Demand Zone + Bollinger Bands. So there are 192 screenshots (96 x 2) in this study. This study uses non repainting and non lagging Harmonic Pattern detection algorithm. Hence, this study will show both failed and successful pattern to provide you the unbiased results. Typically, a repainting indicator will show the successful pattern making it hard to check the real performance of your strategy in historical study in your chart. If you want to become a profitable trader, you should study the strategy in the scientific manner. It basically involves checking the repeatability or reproducibility. We provide this study to enhance the forex and stock trading for the trading community. We also want to add some scientific value for the Harmonic Pattern, X3 Chart Pattern and Elliott Wave Pattern too. The Gartley Pattern in this study has the following Structure:

N: 3, C0: 0.618 to T0: 3
R0: 1.272, R1: 0.382 -0.886, R2: 0.618
Points to watch out in this study:

Price movement around the Pattern Completion Zone (= Trading Zone) in the Gartley Pattern
Supply Demand Zone interaction with Gartley Pattern
Risk management around the Trading Zone. Look for the trading entry, where at least, Reward > Risk x 2
Possibility for breakout trading around the trading zone (=use them as support and resistance)
Look for continuation pattern vs reversal pattern
You can find some Reference for this study below:

Science Of Support, Resistance, Fibonacci Analysis, Harmonic Pattern, Elliott Wave and X3 Chart Pattern (In Forex and Stock Market Trading)
Guide to Precision Harmonic Pattern Trading (Mastering Turning Point Strategy for Financial Trading)
Technical Analysis in Forex and Stock Market (Supply Demand Analysis and Support Resistance)
Profitable Chart Patterns in Forex and Stock Market (Fibonacci Analysis, Harmonic Pattern, Elliott Wave, and X3 Chart Pattern)
Scientific Guide to Price Action and Pattern Trading (Wisdom of Trend, Cycle, and Fractal Wave)
Here is the YouTube Link for Gartly Pattern Study: https://youtu.be/J3vjlHatUTI

This study was performed using the Robo Advisor built inside Optimum Chart.

https://algotrading-investment.com/2019/07/23/optimum-chart/

You can also check the similar results using the X3 Chart Pattern Scanner in MetaTrader 4 and MetaTrader 5 platform (Non repainting and non lagging algorithm).

https://www.mql5.com/en/market/product/41993

https://www.mql5.com/en/market/product/41992

https://algotrading-investment.com/portfolio-item/profitable-pattern-scanner/

Harmonic Pattern Plus is the repainting Harmonic Pattern Scanner with tons of powerful features at affordable cost.

https://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

https://www.mql5.com/en/market/product/4488

https://www.mql5.com/en/market/product/4475

Harmonic Pattern Scenario Planner is the advanced repainting Harmonic Pattern Scanner with tons of powerful features at affordable cost.

https://algotrading-investment.com/portfolio-item/harmonic-pattern-scenario-planner/

https://www.mql5.com/en/market/product/6101

https://www.mql5.com/en/market/product/6240

Fractal Pattern Scanner – Trading Operation

In this short article, we will explain the trading operation with turning point probability for Fractal Pattern Scanner in MetaTrader and in Optimum Chart. Fractal Pattern Scanner is the powerful tool to predict the Forex and Stock market. It is the highly predictive tool that quantifies the price action at every wave in your chart. Fractal Pattern Scanner provides three main features. The three features include:

1. Turning Point Probability Measurement (Essential feature that you can use everyday)

2. Breakout and Reversal Trading Signal Detection with Mother Wave detection

3. Automatic Gann Angles (Bonus feature and optional use only)

The turning point probability measurement is the essential to your daily trading. The turning point probability basically quantifies the price action in your chart. Quantifying the price action will provide you the another level of trading experience. Capability to access the turning point probability in one button click is really handy feature for every day trader on the earth. In addition, Fractal Pattern Scanner provides the probability scanning capability across all timeframe. You can also switch on and off the multiple timeframe pattern detection. When you set Detect Mother Wave = false, you can run the Fractal Pattern Scanner as the pure probability machine.

The turning point probability is a powerful tool that you can use it as both reversal trading or breakout trading within your technical analysis. You can watch this YouTube video titled as “Breakout Trading vs Reversal Trading (Turn Support & Resistance to Killer Strategy)” in this link below to get some hands on practice with breakout and reversal trading opportunity with Support and Resistance Technical Analysis.

YouTube Video Link: https://youtu.be/UbORmOacKIQ

Mother wave pattern detection can be considered as the statistical representation of the Elliott Wave Theory. For example, Mother wave pattern detect the pattern inside pattern structure, where small patterns are jagged inside big pattern, like the Elliott Wave pattern. We can use this pattern inside pattern to trade both reversal and breakout trading. Fractal Pattern Scanner does the excellent job in detecting these signals automatically. When you set Detect Mother Wave = true, then Fractal Pattern Scanner will detect trading signal using Mother wave pattern detection. Even in that, you can also perform both breakout and reversal trading automatically.

If you want to use Breakout Trading Mode, then set Detect Breakout Opportunity = true.
If you want to use Reversal Trading Mode, then set Detect Breakout Opportunity = false.
You can also watch the YouTube Video titled as “Breakout Trading Signal Explained” to understand the breakout trading with mother wave detection.

YouTube video link: https://youtu.be/4XGuMIMaV6w

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Mother Wave Pattern Explained further

The idea behind the Breakout trading with Mother wave is to detect mother wave relatively young and fresh. Those young and fresh mother wave will be typically found in the low turning point probability area. Then what does “First Child Price Probability” input do ? It is the criteria for how small first child wave could be when the mother wave pattern is detected. If this is even hard to understand, then you can think it is the size of mother wave.

If you set the First Child Price Probability = 30%, then Fractal Pattern Scanner will detect first child wave with its size less than 30% amplitude. Likewise, if you set the First Child Price Probability = 50%, then Fractal Pattern Scanner will detect first child wave with its size less than 50%. For your information, the detected mother wave patterns does not provide any sort of geometric regularity detection in the case of breakout trading. We have taught you several geometric regularity detection like support, resistance and triangle and wedge patterns. You will need similar sort of operation here.

In the reversal trading mode with Mother Wave, the size of first child wave is no longer required to be controlled. However, we can control the size of Mother wave. The idea behind the reversal trading mode is to detect mature mother wave pattern that are likely to make reversal movement. Hence, it is better to find these mother wave patterns in high probability area in the probability graph.

For this reason, we have set the mother wave price probability = 80%. You can set even higher number if you wish. When you are using reversal trading mode, we provide automatic Fibonacci expansion to help you to decide the final turning point. This is sort of geometric regularity you can use. But you can use any other geometric regularity we have taught you in our articles and books too like Harmonic Pattern or Elliott Wave patterns, etc if you are good with them.

Here is some important tips. From our experience, some Forex symbols are better with breakout trading mode. Some Forex symbols are better with reversal trading mode. To find out the best trading approach, just set Bars to Scan = 6000 or higher. Just find how each trading mode is profitable in the chart.

You can also use strategy tester for this purpose too. When you are using the strategy tester, then set Calculating with Trailing Data = true. This will tell the Fractal Pattern Scanner to calculate the probability with trailing data (i.e. technical analysis approach) rather than the statistical approach. When you are using technical analysis approach, the probability will be calculated like other technical indicators like Moving average indicator or RSI indicator using trailing data. In statistical approach, the entire data will be used to calculate probability.

Statistical approach and technical analysis approach does not matter for the latest pattern to trade. It is only matter for historical patterns for your information. I personally prefer to calculate the probability using Statistical approach because it provides the identical probability across all price series.

I guess it is too much mathematical talk. I will cut it out. If you do not want to think, then just remember these two cases.

A. If you want to see the historical patterns in your chart, then set “Calculating with Trailing Data” = false.

B. When you are using the strategy tester, then set “Calculating with Trailing Data” = true.

Landing Page to Fractal Pattern Scanner

https://www.mql5.com/en/market/product/49170

https://www.mql5.com/en/market/product/49169

https://algotrading-investment.com/portfolio-item/fractal-pattern-scanner/

Landing Page to Optimum Chart

https://algotrading-investment.com/2019/07/23/optimum-chart/

Harmonic Pattern Indicator with Japanese Candlestick Pattern

Apparently Japanese Candlestick patterns are popular and helpful tools to trader to predict the market direction. It is possible to use Japanese Candlestick patterns in your Harmonic Pattern Trading. These Japanese candlestick patterns include “Hammer”, “Doji Star”, “Harami”, “Inverted Hammer”, “Break away” and so on.

Here is some short article on how to use Japanese candlestick pattern with Harmonic Pattern Plus. This article meant to be quick guideline on enabling Japanese Candlestick pattern together with Harmonic Pattern. In addition, you can use the Japanese Candlestick Patterns from X3 Chart Pattern Scanner too.

https://algotrading-investment.com/2019/04/19/using-japanese-candlestick-patterns-with-harmonic-pattern-plus/

Link to Harmonic Pattern Plus

https://www.mql5.com/en/market/product/4488

https://www.mql5.com/en/market/product/4475

https://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

Link to X3 Chart Pattern Scanner

https://www.mql5.com/en/market/product/41993

https://www.mql5.com/en/market/product/41992

https://algotrading-investment.com/portfolio-item/profitable-pattern-scanner/

Scan Supply Demand Zone Across All Timeframe

In Ace Supply Demand Zone indicator, you can scan the supply and demand zone across all timeframe for your Forex trading. This is a powerful feature included in Ace Supply Demand Zone indicator. Controlling the Multiple Timeframe scanning is similar to our other MetaTrader products like Harmonic Pattern Plus or X3 Chart Pattern Scanner. You can control them from the inputs under the Multiple Timeframe Scanning. With the inputs, you can enable or disable multiple timeframe scanning. You can also choose to switch on or off specific timeframe from your dashboard. In addition, you can also control how frequently the indicator should scan. The default value for update frequency is M5 timeframe. However, you can use M1 for update frequency if you need to scan them more frequently.

If you enabled email or push notification in the inputs under General Setting, then you can also receive the alert for the detected supply and demand zone as well as the touched supply and demand zone. The thing you need to understand about multiple timeframe scanning is that it requires multiple computation too per each timeframe. The computation can be heavier up to 7 times or more when you enabled M1 to D1 timeframes. Hence, due to data loading issues, the calculation might be stuck sometimes. In that case, just click Show button to refresh all the calculation. Of course, it is possible to switch off the multiple timeframe scanning if you only want to trade one timeframe.

Ace Supply Demand Zone in MetaTrader 4 and MetaTrader 5

In addition, we provide the YouTube video for Ace Supply Demand Zone Indicator. Hence, you can watch this YouTube Video to learn the basic operation with the supply demand zone indicator.

YouTube “Supply Demand Zone Indicator”: https://youtu.be/lr0dthrU9jo

Landing page for Ace Supply Demand Zone.

https://www.mql5.com/en/market/product/40076

https://www.mql5.com/en/market/product/40075

https://algotrading-investment.com/portfolio-item/ace-supply-demand-zone/

Volatility Indicator for Day Trading

Volatility indicator can help you to detect any statistical advantage for your day trading. Especially, if you are trading with Price Action and Price Patterns, then we recommend using the Volatility indicator together with your strategy. Without the volatility indicator, you can make small and big mistakes often. We provide the advanced volatility indicators for MetaTrader 4 and MetaTrader 5 platform.

Fibonacci Volatility Indicator

Fibonacci Volatility indicator can provide the market volatility in visual form in your chart for your trading. You can use Daily, Weekly, Monthly and Yearly Volatility for your trading. The most important application of this Volatility indicator is to detect the potential breakout area, potential bullish reversal area and potential bearish reversal area. When you want to visualize the Volatility for your trading, this is the best tool available in the market. Additionally, you can also use the Movable Volatility indicator and you can set the alert at low and high volatile area in your chart.

https://www.mql5.com/en/market/product/52671

https://www.mql5.com/en/market/product/52670

https://algotrading-investment.com/portfolio-item/fibonacci-volatility-indicator/

Harmonic Volatility Indicator

Harmonic Volatility indicator also provides the market volatility in visual form in your chart for your trading. This tool can be used to visualize the Daily, Weekly, Monthly and Yearly Volatility. The difference between Harmonic Volatility indicator and Fibonacci Volatility indicator is that you can only use Probability Configuration mode in the Harmonic Volatility indicator whereas in the Fibonacci Volatility indicator you can access both Probability Configuration and Z Score configuration. This is cheaper than Fibonacci Volatility indicator. Hence, this is the light version of the Fibonacci Volatility indicator.

https://www.mql5.com/en/market/product/29008

https://www.mql5.com/en/market/product/29004

https://algotrading-investment.com/portfolio-item/harmonic-volatility-indicator/

Double Harmonic Volatility Indicator

This is the cheapest Volatility indicator. This indicator is specialized in the Movable Volatility indicator mostly. Hence, if you only need the Movable Volatility indicator and you want to have more cost effective tool, then use this. However, if you want to have more choice in the Volatility visualization, then use either Harmonic Volatility indicator or Fibonacci Volatility indicator.

https://www.mql5.com/en/market/product/23779

https://www.mql5.com/en/market/product/23769

https://algotrading-investment.com/portfolio-item/double-harmonic-volatility-indicator/

GARCH improved Nelder Mead – Free indicator

This is free Volatility indicator that implements the Generalized Autoregressive Conditional Heteroskedasticity (GARCH) methods with Nelder Mead algorithm. This is bit of experimental indicator to realize the GARCH (1,1) model. Hence, we provide this indicator for free. It would be interesting to see how this Volatility indicator works for your trading.

https://www.mql5.com/en/market/product/6918

https://www.mql5.com/en/market/product/6910

https://algotrading-investment.com/portfolio-item/garch-improved-nelder-mead/

In addition, you can watch this YouTube video titled as “Volatility Indicator for Day Trading” to feel what the Volatility indicator looks like in MetaTrader 4 and MetaTrader 5 platform.

YouTube Video “Volatility Indicator for Day Trading” : https://youtu.be/erWhucDT_6M

Harmonic Pattern Indicator Explained (Must Read for Harmonic Pattern Trader)

There are several variations of Harmonic pattern indicators in history of Price Action and Pattern Trading community. Not all the harmonic pattern indicators are the same. In the past the main variations of Harmonic pattern indicators can be categorized as following three different types.

Type 1: Non lagging (fast signal) but repainting – option to enter from turning point. Indicator does not show the failed pattern in chart and last pattern can repaint.
Type 2: Lagging (slow signal) but non repainting – no option to enter at turning point. Indicator does not show the failed pattern but last pattern does not repaint.
Type 3: Detecting pattern at point C but repainting – option to enter at turning point. Indicator detect pattern too early and you have to wait until the point D. Pattern may not achieve point D. Indicator does not show the failed pattern and last pattern can repaint.
Type 1. Non lagging (fast signal) but repainting

First type is non lagging but repainting harmonic indicators. This sort of Harmonic pattern indicator is the typical harmonic pattern indicators used by many traders. The advantage is that you do get the signal early as possible. You have an opportunity to trade from the turning point all the ways down to the continued trend. The disadvantage is that you are not able to test your strategy in chart because this type of harmonic pattern indicator does not show the entry of the failed patterns in chart but only successful one. In fact, Harmonic Pattern Plus and Harmonic Pattern Scenario Planner are under this category. They would provide the fastest signal but you will not able to test your strategy in your chart because they do not show the failed entry in chart.

Type 2. Lagging (slow signal) but non repainting

The second type is that lagging but non repainting. Some people use pretty words like minimal lag Harmonic pattern indicator or etc. But really lagging is just lagging. You can not make it really pretty though. As the literal meaning of lagging indicates, this type of harmonic pattern indicators provide you the lagging signal comparing to the first type. It will only provide you the signal after some times passed the turning point. Hence, you do not have an option to consider your entry from turning point. Depending on the pattern size, sometimes, the lagging can be only several bars but it can range up to several dozens of bars like 30 or 60 bars. Sometimes, your entry might be at the first reversal after the turning point. Hence you have be careful with this sort of entry. The advantage is that you will not experience repaint with the latest pattern though. I am not sure if non repainting property can offset the disadvantage of lagging signals because professional harmonic pattern traders are looking for the turning point entry.

Type 3. Detecting pattern at point C but repainting

The third type is that detecting pattern at C point completion not at D point completion. This type of Harmonic pattern indicator do exists. This type of Harmonic Pattern indicators detect patterns way too early at the point C. For this reason, you have to wait quite some time to trade at point D. If you are trade on higher time frame like H1 or H4 or D1, you might have to wait at least half days to several days. You might run out of your patience quickly with this type of Harmonic Pattern indicator by just waiting and waiting. Since, it is detecting pattern at point D, you are not able to see any failed entry in your chart either. So it does repaint. What is worse is that the pattern can be disappeared while you have been waiting some time. You are just wasting your time in this case.

Some people asked me if they can trade from point C to D. The answer is no because we only recommend to trade patterns after we have done intensive research. We did not do research on trading from point C to D.

By summarizing above three types of harmonic pattern indicator, we can draw some interesting conclusion. Non lagging means repainting and lagging means non repainting. There seems to be some balance between fast signal and repainting issues. It might be the universal or physical law.

4. Main problem of Harmonic Pattern Trading for starter

At the moment, the main problem of Harmonic pattern trading is that indicator or scanner does not show the failed patterns in chart. In fact, no harmonic pattern indicator or scanner shows anyway. Hence this is not the problem for you only but for entire harmonic pattern trader ( also including Elliott Wave pattern trader too). Because Harmonic pattern indicators (Type 1, 2 and 3) show only successful patterns in chart, some people take them as true success rate. This look like success rate of 90% or something.

But, this is not the true success rate. There are many failed patterns and they are just not shown in chart. Then why harmonic pattern indicator or scanner do not show the failed patterns in chart? Is it because we want to hide the failed patterns in the intention to show some false information to trader? Answer is no and never. We are all honest people. Simply it was considered as being impossible to create such a pattern detection algorithm showing failed patterns in chart. So the reason was simply because of the technological barrier.

Hence, experienced Harmonic pattern trader live with this fact every day including myself and others because no such a tool showing failed historical pattern in chart anywhere. We just use our experience to fill the missing information about the failed patterns.

For starters, however this makes difficult to visually understand and test strategy with patterns from chart. They have to rely on external source to learn strategy. This is hard for starters and even for experienced harmonic pattern trader. Sometimes, starters believe that harmonic pattern indicator provide the success rate that was counted from successful patterns only in chart like 90% or something as they do not know that harmonic pattern indicator (Type 1, 2 and 3) does not show failed patterns in chart.. This should be not the right motivation to get involved with harmonic pattern trading. The right motivation to trade with harmonic pattern is that you have an option to trade from turning point.

Now the question, can we have non lagging and non repainting harmonic pattern indicator showing failed historical patterns in chart? The answer is yes. We have broken the critical technological barrier. Now you can have non repainting and non lagging harmonic pattern indicator giving you the true success rate in your chart.

This would be great guidance and trading resource on its own. Because you can easily learn how to use pattern together with other technical and fundamental tools, this would relieve strategy concern for all harmonic pattern trader. You have to remember that non repainting and non lagging harmonic pattern indicator is superior than above three pattern indicators (Type 1, 2 and 3). However, because non repainting and non lagging harmonic pattern indicator shows failed patterns in chart, you might get the opposite perception. Please don’t. Repainting or lagging harmonic pattern indicator (Type 1, 2 and 3) will have equally bad or even more number of failed patterns comparing to non repainting and non lagging one.

For your advantage, it is always better to work with the indicator giving you the realistic success rate for your trading. Then you will quickly learn how to improve your trading. In long run, non repainting and non lagging harmonic pattern indicator is definitely good one to stick with. You can add extra filter or other secondary confirmation. These efforts are real because you can measure the realistic outcome with non repainting and non lagging indicator. Remember that you can readily find out the true winning system with non repainting and non lagging harmonic pattern indicator whereas it is very hard for repainting or lagging indicators (Type 1, 2 and 3).

5. Can we have non lagging but non repainting Harmonic pattern Indicator?

Now the question, can we have non lagging and non repainting harmonic pattern indicator? The answer is yes. This is the next generation of Harmonic pattern indicator which was born from intensive scientific research. We shipped the technology to our Profitable Pattern Scanner. We have provided it for the first time in history.

This type of non repainting and non lagging indicator will provide you the fastest signal entry like first type of harmonic pattern indicator. At the same time, it will show you the failed entry in your chart. Hence you can build and tune your strategy in your chart with other technical indicators at ease or even in backtesting mode. Since you can trade as you see from chart, the confidence of your trading will increase dramatically. This is the true hybrid of all above three types of harmonic pattern indicators. With little bit of knowledge on Pattern Completion Interval, you could take the entry at your favored risk to rewards ratio. We also provide Potential Continuation Zone to perfect your harmonic pattern trading. In addition, you can watch the YouTube Video titled feel what is the automated harmonic pattern indicator like. For your information, we provides two YouTube videos with title and links below.

YouTube “Harmonic Pattern Indicator”: https://youtu.be/CzYUwk5qeCk

YouTube “Non Repainting Non Lagging Harmonic Pattern Indicator”: https://youtu.be/uMlmMquefGQ

Below is the direct link to X3 Chart Pattern Scanner in MetaTrader 4 and MetaTrader 5 platform.

https://www.mql5.com/en/market/product/41993

https://www.mql5.com/en/market/product/41992

https://algotrading-investment.com/portfolio-item/profitable-pattern-scanner/

Advanced Supply Demand Zone Indicator

Here is the list of Advanced Supply Demand Zone Indicator. These supply and demand zone indicators are rich in features with many powerful features to help you to trade the right supply and demand zone to trading.

Mean Reversion Supply Demand

Mean Reversion Supply Demand indicator is our earliest supply demand zone indicator and loved by many trader all over the world. It is great to trade with reversal and breakout. You can also fully setup your trading with stop loss and take profit target.

Below are the links to the Mean Reversion Supply Demand indicator for MetaTrader 4/MetaTrader 5.

https://www.mql5.com/en/market/product/16823

https://www.mql5.com/en/market/product/16851

https://algotrading-investment.com/portfolio-item/mean-reversion-supply-demand/

Ace Supply Demand Zone

Ace Supply Demand Zone indicator is our next generation supply demand zone indicator. It was built in non repainting and non lagging algorithm. On top of many powerful features, you can also make use of archived supply and demand zone in your trading to find more accurate trading opportunity.

Below are the links to the Ace Supply Demand Zone indicator for MetaTrader 4/MetaTrader 5.

https://www.mql5.com/en/market/product/40076

https://www.mql5.com/en/market/product/40075

https://algotrading-investment.com/portfolio-item/ace-supply-demand-zone/

For your information, both mean reversion supply demand and Ace supply demand zone indicator uses completely different algorithm in detecting supply and demand zone.

Pair Trading Spread Analyser

In version 6.5, Pair Trading station can work together with Pair Trading Spread Analyser. Pair Trading Spread Analyser is free and supportive tool for our Pair Trading Station Customer. Therefore, Pair Trading Spread Analyser will work when you have the Pair Trading Station installed in your computer. Below is the download link for the free Pair Trading Spread Analyser.

https://algotrading-investment.com/FreeDownload/PairTradingSpreadAnalyzer.zip

How to use Pair Trading Spread Analyzer is simple as ABC.

1. Firstly, run our Pair Trading station in your MetaTrader (any between MT4 and MT5) as usual.

2. After you have attached Pair Trading Station, in your chart, click on Analyzer Pair button to start Pair Trading Station.

3. Now Start Pair Trading Spread Analyzer and click on Start button.

4. That is it. You will start to see spread for each currency pairs in Spread Analyzer.

Please note that Pair Trading Station is standalone trading system. Therefore, you can make the trading decision with Pair Trading Station alone too. If you feel enough with Pair Trading Station alone, then you do not need to use the Pair Trading Spread Analyzer. Pair Trading Spread Analyzer is only extra for your convenience.

From my experience, using Pair Trading Spread Analyzer, you can use the powerful sorting and searching features to identify the weak and strong currency pairs to trade. This might be not too significant. However, when you have a lot of rows in your Pair Trading Station, then you will really appreciate this sorting and search features, which helps to quickly identify important trading signals.

Important note about Pair Trading Spread Analyzer

For the Pair Trading Spread Analyzer to run, you must run Pair Trading Station in your MetaTrader first. For starter with pair trading, we recommend to use the spread around 4 for your trading (i.e. strong signal) until you get skilled with pair trading. Later you might use the insignficant spread for your trading too when you know what you are doing.

Two good references to read to trade with Pair Trading Station.

https://www.investopedia.com/university/guide-pairs-trading/

https://algotrading-investment.com/2015/11/14/introduction-to-pair-trading-station_ati/

Pair Trading Station is very unique trading system based on Statistical Arbritage trading principle. Below is the direct link to Pair Trading Station:

https://algotrading-investment.com/portfolio-item/pair-trading-station/

https://www.mql5.com/en/market/product/3303

https://www.mql5.com/en/market/product/3304

Winning Trading Logic – Detecting Supply and Demand Unbalance

As we have pointed out in our article, detecting the supply and demand unbalance is the most important key in making profits in Financial market. The excessive momentum indicator is the automated tool to detect these unbalance in supply and demand for your trading. With excessive momentum drawn in your chart, it is much easier to predict the timing of new trend and its direction.

Here is the insightful article explaining where the profits comes and how the profits are captured with the knowledge of excessive momentum. If you really want to make money in the market, must read this article. Reading does not cost you anything.

https://algotrading-investment.com/2018/10/29/introduction-to-excessive-momentum-trading/

This Excessive Momentum Zone can be considered as either Accumulation or Distribution area in the Volume Spread Analysis. You can further find the symptoms of accumulation and distribution area using our Volume Spread Pattern Indicator (Paid and Advanced version) or Volume Spread Pattern Detector (Free and Light version). You can watch the YouTube videos to find more about the Excessive Momentum Indicator.

YouTube Video Momentum Indicator: https://youtu.be/oztARcXsAVA

Here is link to Excessive Momentum Indicator available on MetaTrader 4 and MetaTrader 5 platform.

https://algotrading-investment.com/portfolio-item/excessive-momentum-indicator/

https://www.mql5.com/en/market/product/30641

https://www.mql5.com/en/market/product/30621

MT4 Elliott Wave Indicator

Elliott wave theory is nearly 100 years old trading strategy. However, it is still actively used by many professional traders from all over the world. We provide MT4 version of Elliott Wave indicator for your professional trading.

1. MT4 – Elliott Wave Trend

Elliott Wave Trend is the professional Elliott wave indicator which was released around 2016. This one allow you to perform Elliott wave counting as well as Elliott wave pattern detection. On top of them, it provides built in accurate support and resistance system to improve your trading performance. There are many other powerful features and it is best to visit product page to find out more about this great MT4 Elliott Wave indicator.

Here is the links to MT4 Elliott Wave Trend:

https://www.mql5.com/en/market/product/16479

https://algotrading-investment.com/portfolio-item/elliott-wave-trend/

2. MT4 – X3 Chart Pattern Scanner

X3 Chart Pattern Scanner is not entirely Elliott Wave tool but it contains some Elliott Wave pattern features in it (it detects Harmonic Patterns, Elliott Wave Patterns, X3 Patterns). Primarily, X3 Chart Pattern Scanner is specialized tools in detecting Chart Patterns including Harmonic Pattern and Elliott Wave Patterns. It is great tool if you want to use both Harmonic Pattern and Elliott Wave patterns in one tool. In addition, the pattern detection algorithm inside X3 Chart Pattern Scanner is customizable using X3 price pattern notation shown in this link below:

https://algotrading-investment.com/2019/07/09/defining-profitable-patterns/

Here is the link to X3 Chart Pattern Scanner

https://www.mql5.com/en/market/product/41993

https://algotrading-investment.com/portfolio-item/profitable-pattern-scanner/

Harmonic Pattern Plus Introduction

If you need to accurately predict the turning point of the market, then Harmonic Pattern Plus is the best tool in its kind. With our own research, our Harmonic Pattern Plus uses the precision harmonic pattern trading as its default trading strategy with Pattern Completion Interval, Potential Continuation Zone and Potential Reversal Zone. Yet, there are many other powerful features built in together for your superb trading experience.

11 Harmonic Pattern Detection
Automatic stop loss and take profit recognition for superb risk management
Pattern Completion Zone detection for precision trading
Potential Continuation Zone detection for future price prediction
Potential Reversal Zone detection for Point D identification
Automatic Channel Detection to go with Harmonic Pattern (Optional)
Multiple timeframe Pattern Analysis
Multiple timeframe Pattern Detection
Guided Trading Instruction for professional traders
Pattern Locking and Unlocking feature in your chart
Even more, please find it out.
Below is the direct link to the information page:

https://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

https://www.mql5.com/en/market/product/4488

https://www.mql5.com/en/market/product/4475

Also here are some articles for Harmonic pattern plus for your information.

https://algotrading-investment.com/2019/07/23/trading-education/

Introduction to Equilibrium Fractal Wave Analytics

EFW Analytics was designed to accomplish the statement “We trade because there are regularities in the financial market”. EFW Analytics is a set of tools designed to maximize your trading performance by capturing the repeating fractal geometry, known as the fifth regularity in the financial market. The functionality of EFW Analytics consists of three parts including:

1. Equilibrium Fractal Wave Index: exploratory tool to support your trading logic to choose which ratio to trade

2. Superimposed Pattern Detection as turning point analysis

3. Superimposed Channel for market prediction with Golden ratio expansion

4. Superimposed Channel for market prediction with whole number expansion

5. Equilibrium Fractal Wave (EFW) Channel detection

6. Superimposed Channel Rating (Higher rating = higher predictive power)

EFW Analytics provide the graphic rich and fully visual trading styles. In default trading strategy, you will be looking at the combined signal from Superimposed pattern + EFW Channel or Superimposed pattern + Superimposed Channel. In addition, you can perform many more trading strategies in a reversal and breakout mode. You can also run two different timeframes in one chart to enforce your trading decision. Sound alert, email and push notification are built inside the indicator.

Below is the link to the EFW Analytics:

https://algotrading-investment.com/portfolio-item/equilibrium-fractal-wave-analytics/

https://www.mql5.com/en/market/product/27703

https://www.mql5.com/en/market/product/27702

Pattern Completion Zone versus Potential Reversal Zone

In previous chapter, we have described the Pattern Completion Zone (a.k.a Pattern Completion Interval) in details. Now many harmonic pattern trader can be curious how the Pattern Completion Zone (PCZ) is different from the Potential Reversal Zone (PRZ). In first place, as the PCZ and PRZ are derived from different process, they are different tool to trader. Having said that, the deriving process for PCZ and PRZ might be too complicated causing some traders to confuse the concept of each other. For this reason, we will clarify the difference by directly comparing PCZ and PRZ look. Let us look at the Potential Reversal Zone. So what is Potential Reversal Zone? Simply speaking potential Reversal zone is the area where three or four Fibonacci levels are converging together. Potential Reversal Zone can be used to detect the final Point D of the Harmonic Pattern by projecting several Fibonacci retracements respectively from the point X, A, B and C. The area of the Potential Reversal Zone can be defined by the top and the bottom projected levels in the all projected levels as shown in Figure 5-1.

The main difference between PCZ and PRZ is that Pattern Completion Zone forms the strict Symmetrical Trading Zone around the ideal Point D (Figure 5-3 and Figure 5-4). The Potential Reversal Zone (PRZ) does not form the symmetrical zone. However, the PRZ area formation is dependent on the location of each Fibonacci level projections as shown in Figure 5-1 and Figure 5-2. Sometime PRZ area can form the symmetrical trading zone but it is only by chance. Most of time, Potential Reversal Zone will not form the symmetrical trading zone. On the other hands, Pattern Completion Zone will strictly form symmetrical trading zone for every harmonic pattern. Due to this symmetrical property of the Pattern Completion Zone (= Pattern Completion Interval), trader can use many different trading strategies around the symmetrical trading zone beyond the classic harmonic pattern trading setup. With Pattern completion Zone, you can expand your classic trend reversal entry to hedging and breakout trading by setting identical but opposite trading. For example, for bullish Harmonic Pattern formation, you are able to setup the buy and sell hedging positions or straddle breakout setup around the Pattern Completion Zone. This is possible because the Pattern Completion Zone provides the median open price, which can be mirrored around the Ideal Point D.

In addition, Pattern Completion Zone provides you the direct numerical description corresponding to the size of the Harmonic Pattern. Therefore, the size of symmetrical trading zone around the Pattern Completion Zone is a sensible measurement for your stop loss and take profit for each Harmonic Pattern. Especially, once you have mastered the Pattern Completion Zone for your trading, you can gauge your Reward/Risk Ratio with real time market data without the need of any other additional tools. You can expand this with limit and stop order for better managing your order and risk. Overall, Pattern Completion Zone can provide you precise and fast decision-making process for your Harmonic Pattern Trading. In next chapter, we will continue to show you how the symmetrical trading zone works to manage your order and risk in details.

https://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

https://www.mql5.com/en/market/product/4488

https://www.mql5.com/en/market/product/4475

You can read Guide to Precision Harmonic Pattern Trading to understand more about the Harmonic Pattern Strategy.

https://algotrading-investment.com/portfolio-item/guide-precision-harmonic-pattern-trading/

Mean Reversion Supply Demand – How to Remove Take Profit and Stop Loss Levels

One of the greatest advantage of Mean Reversion Supply Demand is that it provide a flexible Profit and stop target for your trading. After you have learnt how to use this profit targets, now you want to learn how to remove them. Of course, there is a way to remove them. The trick is simply moving the stop text above the Entry text (for the case of buy). You will do the opposite for the case of sell. In the screenshot, the bottom image describe how to remove the targets from your chart.

There is another approach to remove take profit and stop loss targets. We provide the shortcut in keyboard for doing the same task. Simply hit “z” button in your keyboard. This will also remove the stop loss and take profit targets if you do not need them any longer.

https://www.mql5.com/en/market/product/16823

https://www.mql5.com/en/market/product/16851

https://algotrading-investment.com/portfolio-item/mean-reversion-supply-demand/

YouTube Video for X3 Chart Pattern Scanner

Video can explain a lot of details about how things works. You can use this video for first guide on using X3 Chart Pattern Scanner.

This video was originally created for the previous Optimal Turning Point Pattern Scanner. However, X3 Chart Pattern Scanner uses almost same user interface (with a lot of powerful additional features). Hence, you can use this video for X3 Chart Pattern Scanner too. For your information, since X3 Chart Pattern Scanner comes with a lot of new additional features, the video does not cover for those features. For example, X3 Chart pattern scanner can provide

Harmonic Patterns
X3 Chart Patterns
52 Japanese candlestick patterns
Automatic double standard deviation channel
and many more powerful features
Non Repainting Non Lagging Harmonic Pattern Scanner: https://www.youtube.com/watch?v=uMlmMquefGQ

Chart Pattern Scanner: https://youtu.be/2HMWZfchaEM

Also here is the product page for the X3 Chart Pattern Scanner. Enjoy the powerful non repainting and non lagging Harmonic Pattern, X3 Pattern and Elliott Wave Pattern indicator.

https://www.mql5.com/en/market/product/41993

https://www.mql5.com/en/market/product/41992

https://algotrading-investment.com/portfolio-item/profitable-pattern-scanner/

Volume Spread Analysis Indicator List

We provide three different Volume Spread Analysis indicators and volume based tools. Our volume spread analysis tools are the hybrid of volume spread analysis and signal processing theory.

These tools will help you to complete your trading decision with high precision. As long as you understand the concept of the Accumulation and Distribution area in the volume spread analysis, these tools will help you to predict the presence of Accumulation and Distribution area. Hence, you can predict the best trading opportunity.

Firstly, Volume Spread Pattern Indicator is the powerful volume spread analysis indicator that operated across multiple timeframe. Volume Spread Pattern Indicator will not only provide the bearish and bullish volume spread pattern in the current time frame but also it will detect the same patterns across all timeframe. You just need to open one chart and you will be notified bullish and bearish patterns in all timeframe in real time.

Here is the link to Volume Spread Pattern Indicator.

https://www.mql5.com/en/market/product/32961

https://www.mql5.com/en/market/product/32960

https://algotrading-investment.com/portfolio-item/volume-spread-pattern-indicator/

Secondly, Volume Spread Pattern Detector is the light version of Volume Spread Pattern Indicator above. This is free tool with some limited features. However, Volume Spread Pattern Detector is used by thousands of traders. Especially, it works great with the support and resistance to confirm the turning point. This is free tool. Just grab one.

https://www.mql5.com/en/market/product/28438

https://www.mql5.com/en/market/product/28439

https://algotrading-investment.com/portfolio-item/volume-spread-pattern-detector/

Both Volume Spread Pattern Indicator and Volume Spread Pattern Detector works well with Excessive Momentum indicator as Excessive Momentum indicator helps to detect the potential Accumulation and Distribution area automatically. Hence, if you are using Excessive Momentum Indicator, then you can use one between Volume Spread Pattern Indicator or Volume Spread Pattern Detector. In addition, we provide the YouTube video to accomplish the basic operations of Excessive Momentum Indicator.

YouTube Video (Momentum Indicator): https://youtu.be/oztARcXsAVA

Here is link to Excessive Momentum Indicator for MetaTrader 4 and MetaTrader 5.

https://algotrading-investment.com/portfolio-item/excessive-momentum-indicator/

https://www.mql5.com/en/market/product/30641

https://www.mql5.com/en/market/product/30621

Thirdly, we provide the volume Zone Oscillator. This is another useful free tool that utilizes the volume information for your trading. You can use these tools for volume spread analysis, Harmonic Pattern, Elliott Wave Pattern, X3 Price Pattern further. This is free tool. Just grab one.

https://algotrading-investment.com/portfolio-item/volume-zone-oscillator/

How To Use Forex Prediction With Fibonacci Analysis For Free

In this article, we will explain how to use Forex Prediction with Fibonacci Analysis For Free in two steps. In the first step, you can access the Forex Prediction Webpage from the following link. You can book mark this Forex Prediction page below so you can access Forex Prediction any time.

https://algotrading-investment.com/2020/10/23/forex-prediction-with-fibonacci-analysis/

From above page, you will get access to the turning point prediction for Forex market including EURUSD, GBPUSD, USDJPY, BTCUSD, ETHUSD and so on. In fact, most of statistical predictions are not compatible with the actual trading strategy used by the real world trader. However, the turning point probability (and also the trend probability = 1 – turning point probability) is useful because the predictions were measured from the Fractal Wave. Remember that fractal wave is the direct representation of price action. For example, Support, Resistance, Fibonacci Ratio Analysis, Harmonic Pattern, Elliott Wave Theory, X3 Chart Pattern, Symmetric Triangle Pattern, Rising Wedge Pattern, Falling Wedge pattern, Double Top, Double Bottom, Channel, Renko Chart and so on are such technical analysis derived from Fractal Wave. You can consider the turning point probability as the quantified version of the price patterns. Hence, using the turning point probability with these price pattern is really beneficial in assessing the trend strength and risk for your trading. Especially, we recommend using the turning point probability together with any horizontal support resistance. For example, you can use the hand drawn support resistance, supply demand analysis, round number (=psychological number), pivot analysis, Fibonacci analysis, and so on. I am sure you can think of many horizontal support and resistance of your own.

In the second step, you can visualize the turning point probability and Fibonacci Analysis with this free Market Prediction tool from our website or from google drive. Anyway, you will get the same files.

Download Market Prediction Tool (Free, No Installation, No Signup and Use Straight After Download)

https://drive.google.com/file/d/1hzM8FBCMW1ZcVeMhwLTV7TEFM65o3AKg/view?usp=sharing

How to use this Market Prediction Tool is simple. Once, you have downloaded the MarketPrediction.zip file, then extract them anywhere in your hard drive. Then run the Market Prediction.exe file. After, you will find a simple user interface. Copy and paste the rows of data from the Market Prediction Webpage from the link. You can copy multiple rows if you wish. Next, click “Show Prediction” button. The Market Prediction software will automatically visualize the turning point probability and trend probability in friendly format.

If you want to use the premium version of the Forex Prediction, then you can use Fractal Pattern Scanner in MetaTrader or Optimum Chart. Below is the landing page for Fractal Pattern Scanner in MetaTrader version, which you can get the real time prediction in MetaTrader.

https://www.mql5.com/en/market/product/49170

https://www.mql5.com/en/market/product/49169

https://algotrading-investment.com/portfolio-item/fractal-pattern-scanner/

Price Breakout Pattern Scanner and Smart Renko

In the last post, we have shown you how to switch on and off many features in our Smart Renko.

https://algotradinginvestment.wordpress.com/2017/07/15/simple-instruction-on-smart-renko/

Our Price breakout pattern scanner is very unique tool in the market because it have built in feature for Smart Renko inside. There is reason for that. Smart Renko is really helpful for any pattern detection in the separate window. So they will rainforce your trading decision. Imagine that in the candlestick chart, Price Breakout Pattern Scanner is automatically detecting the patterns for you. In the indicator window, you can also detect any other important patterns readily. If you can collect evidence for your trading from both candlestick chart and renko chart, you can make very powerful trading decision.

In this post, let us show how to switch on and off the smart Renko chart from your price breakout pattern Scanner. Before you are using Smart Renko feature enabled, you might download sufficient history in your chart first. Once you have done it, set Use “Smart Renko = true” from your indicator setting. See the screenshots for your better understanding. Some of our customer know that there is great way of trading with Price breakout pattern scanner and our Harmonic Pattern Plus (or Harmonic Pattern Scenario Planner) If you are curious, you migh check our ebook. We have described the trading principle in details in this book: Price Action and Pattern Trading Course.

https://algotrading-investment.com/portfolio-item/price-breakout-pattern-scanner/

Here are the links for the Price Breakout Pattern Scanner

https://www.mql5.com/en/market/product/4859

https://www.mql5.com/en/market/product/4858

https://algotrading-investment.com/portfolio-item/price-breakout-pattern-scanner/

Harmonic Pattern Indicator Explained

Trading Indicator is an effort of developer to create trading tools comply with particular theory or trading strategy or trading ideas. There is always gap between theory (i.e. ideas or strategy) and practice.

Not all the harmonic pattern indicators are the same. In the past the main variations of Harmonic pattern indicators can be categorized as following four types.

Type 1: Non lagging (fast signal) but repainting – option to enter from turning point. Indicator does not show the failed pattern in chart and last pattern can repaint.

Type 2: Lagging (slow signal) but non repainting – no option to enter at turning point (i.e. early signal). Indicator does not show the failed pattern but last pattern does not repaint.

Type 3: Detecting pattern at point C but repainting – option to enter at turning point. Indicator detect pattern too early and you have to wait quite bit of time until price move near the point D. In fact, price may not move near point D. You might just waste your time waiting for the pattern. Indicator does not show the failed pattern and last pattern can repaint.

Type 4: Non lagging (fast signal) and non repainting – option to enter from turning point. At the same time, the pattern is not repainting. This is hybrid of all above three system and can be considered as the most powerful harmonic pattern indicator.

To accomplish this post, you can read the full blog article about the types of Harmonic Pattern Indicator from the link below.

https://algotrading-investment.com/2019/03/03/harmonic-pattern-indicator-explained/

In addition, you can watch the YouTube Video to feel what is the automated harmonic pattern indicator like. For your information, we provides two YouTube videos with title and links below.

YouTube “Harmonic Pattern Indicator”: https://youtu.be/CzYUwk5qeCk

YouTube “Non Repainting Non Lagging Harmonic Pattern Indicator”: https://youtu.be/uMlmMquefGQ

Here is the list of Harmonic Pattern Indicators for MetaTrader 4 and MetaTrader 5.

1. Harmonic Pattern Plus (Type 1)

Harmonic pattern plus is extremely good product for the price. With dozens of powerful features including Pattern Completion Interval, Potential Reversal Zone, Potential Continuation Zone, Automatic Stop loss and take profit sizing.

Below are the Links to Harmonic Pattern Plus

https://www.mql5.com/en/market/product/4488

https://www.mql5.com/en/market/product/4475

https://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

2. Harmonic Pattern Scenario Planner (Type 1 + Predictive feature)

With additional features of predicting future harmonic patterns, this is very tactical harmonic pattern indicator with advanced simulation capability on top of the powerful features of harmonic pattern plus.

Below are the Links to Harmonic Pattern Scenario Planner

https://www.mql5.com/en/market/product/6101

https://www.mql5.com/en/market/product/6240

https://algotrading-investment.com/portfolio-item/harmonic-pattern-scenario-planner/

3. X3 Chart Pattern Scanner (Type 4 = hybrid)

This is our next generation Chart Pattern Scanner. This is non-repainting and non-lagging Harmonic Pattern Indicator. On top of that, this tool can detect Elliott Wave Pattern and X3 Patterns. As a bonus, this scanner can detect around 52 Japanese candlestick patterns for your trading. This is the most advanced Harmonic and Elliott wave pattern detector in the market. You must try.

https://algotrading-investment.com/portfolio-item/profitable-pattern-scanner/

https://www.mql5.com/en/market/product/41992

https://www.mql5.com/en/market/product/41993