Soon we will add a new function to lock the latest patterns from your chart.

This means that now you can lock the latest pattern (or any other chosen pattern) in your chart before you trade using that pattern.


Now you don't have to worry about if the chosen pattern will disappear after your trading due to new pattern arrivals.

Of course, you will have a function to unlock and delete the locked pattern from your chart too. You can use this unlocking feature if you believe that the pattern is no longer needed for your trading.

This locking and unlocking features can be simply done by pressing "Pattern" button on your chart.

You can use this locking and unlocking feature to enhance your real live trading.

We feel that this would provide a lot of benefits to users and we are already excited so much. :)


This update will be applicable to:

Harmonic Pattern Plus v3.5,
Price Breakout Pattern Scanner v3.6,
Harmonic Pattern Scenario Planner v3.8.


All the best for your trading. :)

Kind regards.

We have updated our Harmonic Pattern Plus (version 3.8) and Harmonic Pattern Scenario Planner (version 3.9). They might be available in next 2 days.

https://www.mql5.com/en/market/product/4488
https://www.mql5.com/en/market/product/4475

https://www.mql5.com/en/market/product/4475
https://www.mql5.com/en/market/product/6101


Here are what we have updated. Sorry it is rather long description. View the attached screen shot for faster understanding.


==========================================================================

In version 3.8 New feature 1:


We added Fibonacci projection of followings:

1. Internal Price Retracement (XA)
2. External Price Retracement (BC)
3. Correction Price Projection (ABCD)
4. Future Price projection (CD, this is existing Fibo retracement from earlier version.)


Trader can control depth of these Fibonacci Projection using following variable:

Potential Reversal Zone Projection Depth (0 to 8, 0=no drawing).

value 1: fewer Fibonacci lines (for less sophisticated trading setup)
value 8: more Fibonacci lines (for more sophisticated trading setup.)



Also individual Fibonacci projection can be switch on/off by setting these values to zero or other values:

Potential Reversal Zone Line Length for XA (0=no projection)
Potential Reversal Zone Line Length for BC (0=no projection)
Potential Reversal Zone Line Length for ABCD (0=no projection)


For Future Price projection (CD, this is existing Fibonacci retracement from earlier version.), is identical to and this can be controlled by previous Fibo Display option.




In version 3.8 New feature 2:

Now by just simply clicking over "Symbol" button on your chart, trader can detect new patterns at any tick arrival without waiting for new bar arrival. This is useful if you want to detect patterns before new bar arrivals. (Fast discovery of the patterns.)

Here is the manual about how to backtest Potential Reversal Zone using Harmonic Pattern Plus and Harmonic Pattern Scenario Planner. This manual is for educational purpose only. Hope this is helpful for your profitable trading.

Kind regards.

There are many more information here:

http://harmonicpattern.ucoz.co.uk/

http://harmonicpattern.ucoz.co.uk/index/technical_support/0-30

Update News for Harmonic Pattern Plus and Harmonic Pattern Scenario Planner.

We found small bug of getting array out of range when you set PRZ depth = 0.

We will fix this error soon and release new version.

Kind regards.

PRZ Case study. Some classic example to improve your understanding of Harmonic Pattern trading as well as your profits.

 When I do PRZ case study. I normally use full density of PRZ depth. So I set PRZ depth = 8. Just give you some idea about how you should coordiante between open price of candle bar (after pattern found) and PRZ location to set up high winning entry.

There are manual for how to do PRZ backtesting with Harmonic Pattern Plus and Harmonic Pattern Scenario Planner here:

http://harmonicpattern.ucoz.co.uk/index/technical_support/0-30

Accuracy and success rate of your trading can be increased seriously with good understanding of PRZ. Please have a look this manual.

Kind regards.

Pending order become market order and Take Profit target nearly hit.

If you have a moment, it is sensible to move you stop loss to breakeven or near but this is optional.

Note that this demonstration is educational purpose only.

Take Profit target hit and trade existed.

Again you can see how market treat next PRZ.

Harmonic pattern is most logical way of sorting and drawing supports and resistance lines.

You can thoroughly back testing this PRZ idea to improve your trading idea with Harmonic Pattern Plus.

Here you can find the PRZ backtesting manual.


http://harmonicpattern.ucoz.co.uk/index/technical_support/0-30

https://www.mql5.com/en/market/product/4488
https://www.mql5.com/en/market/product/6240

Hello Traders

We have PRZ backtesting manual updated with real world trading example.

Please check it out for your profitable trading.

Kind regards.

Some Note on Starter and Junior Trader

After observing different customers, I have noticed that quite good amount of customers are new to Forex Trading and some of them are even new to investment.

Before start to trading in Forex, please note these few tips I used to teach junior traders in the past.

1. Trading is one kind of entrepreneurship and therefore there is naturally risk involving with trading and investment.

2. Before trading, you must understand how to use basic indicators in correct form and their success rate as well as their pros and cons.

(The basic indicators I will recommend here is simple moving average, exponential moving average, RSI, Stoch, ATR, ADX, MACD, Bollinger bands, support and resistance lines.)

3. Must understand position sizing and its power.

4. Understand what drives market (Fundamental, economic news, etc). Forex mostly tied with interest rate and inflation, employment rate (Purchasing power and monetary flow).You don't have to be expert at these in a first week after your starting of trading. But always get habit of reading news and articles with more care than before.

6. Understand your own ability of interpreting market patterns, geometry, and market cycle

7. Understand that market behaviour is based on crowd behaviour or crowd psychology.

8. Know some useful correlation between markets.

9. Just like we have physical law of energy = MC^2, similarly some rules can’t be bent in financial trading too. High rewards = high risk. Lucky trading will not continue forever.

To become professional traders, you need to master set of disciplines and these tips are only basic and might be your starting point.

Plus these note are only applicable to starter and junior traders. Slightly different tips might be required for auto traders who only using EAs.

Kind regards.

I wanted to ask you a question about customizing this indicator.

Send to me a your email address plz.

prometheus.song@gmail.com

Just send you private message. Please check it out. :)

Kind regards.

Screenshots of Harmonic pattern plus with the latest version.

Please download the zip file.

Processing of Version 5.3 is completed for both Harmonic Pattern Plus and Harmonic Pattern Scenario Planner. However, it may take another 24 hours to be downloadable.

Here is some reading about guided trading instruction for you. This is newly added feature to Harmonic pattern plus and Harmonic pattern Scenario Planner.

Kind regards.

How to delete fibo becoz some time i want to see clearly chart. 

Update News 19 Oct 2015:

We are currently making some great improvement on our Harmonic Pattern Plus and Scenario Planner.

Please stay tuned for this further.

Harmonic Pattern Plus and Harmonic Pattern Scenario Planner will have much more powerful feature after this update.

Regardless of this future planned improvement, Harmonic Pattern Plus and Harmonic Pattern Scenario Planner are already one of the most sophisticate trading tools

existing in the  Market which loved by many Professional traders.

Kind regards.