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Young Ho Seo  

Technical Clarificiton on pattern detection algorithm used in EFW Pattern Trader (Improve your performance for your trading)


EFW Pattern Trader does not:

  • repaint
  • recalculate
  • lagging

EFW pattern Trader is a big step ahead of many pattern scanner on the market. Consider these facts (truth) why you can not have everything you want in all in one piece. 

  • 99% of Pattern scanner will do recalculating. This means that you will see some patterns in your chart, then they can just disappear from your chart when the pattern is fail to form.
  • 99% of Pattern Scanner which is not recalculating is lagging. This means that you will always late to the party. When you enter, the profit does not remain any more for you.


EFW Pattern Trader is a magical system not lagging but not recalcuating (not repainting).

It will show you the fresh patterns for your trading. Yet, even the case of pattern fail to form, the pattern will remain in your charts even in case of recalulating.

You can do the backesting to see how the patterns works for your live trading.


Histoical pattern in backtesting VS Historical patterns detected by indicators

Historical patterns can be detected in two differnt ways.

Case A: Algorithim in the Indicator might loop through the pattern detection algorithm to show some historical patterns in your chart. This might provide you quick historical patterns in your chart but they will not bahave like real trading environment. The historical pattern detected in this way can be misleading for your trading. 

Case B: you can use backtesting in strategy tester to see the historical patterns. In fact, you will not immediately see the historical patterns in your chart until you run the indicator in your strategy tester. However, the historical patterns you see in the strategy tester is exactly how the pattern will behave in the real trading environment. This insightful information can help any trader to trade with patterns in real live trading environment.


The truth is you can not get everything in one place. It seems God or Universe limiting such a thing to my knolwedge and experience.

Human must understand that we have to make choice or we have to combine few different tools to overcome the limitation of one tool.


Your choice for trading

If you do not mind Case A, then you can use our Harmonic Pattern Plus (or harmonic Pattern scenario Planner). They will present everything clearly for you including history and present patterns in your chart. Only drawback of recalculating.

If you do mind Case A, then stay with EFW pattern Trader. I think you can perfectly use EFW Pattern Trader on its own.


Or you can use both EFW pattern Trader and Harmonic Pattern Plus as hybrid approach.


Although not every patterns are detected in both tools, several same patterns are detected by both tools like Butterfly and Gartley.

For example, you can use EFW pattern Trader to develop your trading strategy in backtesting then apply them with Harmonic Pattern Plus or (in Scenario Planner).

As you know, Harmonic Pattern Plus (Scenario Planner) provide you powerful gadget for your trading which is not provided from EFW pattern Trader.


Finally I am not God or Universe either, so this is my humanly suggestion only.









Nikolai Buchmeier  

Hello,

what that ??

2019.07.26 09:48:22.646    EFW Pattern Trader MT5 (XAGUSD.,H1)    Zig Zag:  Error copying Rates Buffers, Error:4003!!