Young Ho Seo / Profilo

Horizontal Support and Resistance

Support and resistance techniques are one of the most popular trading strategy for many day traders. Support is the price level at which buying is stronger than selling. Hence, the declining of the price below the support levels is often refused. Typically, support level is located below the current market price. Likewise, resistance is the price level at which selling is stronger than buying. Hence, the rising of the price above the resistance level is often refused. Typically, the resistance level is located above the current market price of the instrument. In fact, several support and resistance techniques are the direct pattern recognition techniques to deal with the equilibrium fractal waves in the price series. However, trader should note that not all the support resistance techniques are the valid tool to deal with the equilibrium fractal waves. For example, the pivot levels derived from the pivot analysis can be used as support and resistance for your trading. In fact, many textbook will introduce the pivot analysis as the kind of the support and resistance tool. However, consider how to derive the pivot levels from the standard pivot calculation equations below:

Pivot Point (P) = (High + Low + Close)/3
Support 1 (S1) = (P x 2) – High
Support 2 (S2) = P – (High – Low)
Resistance 1 (R1) = (P x 2) – Low
Resistance 2 (R2) = P + (High – Low)
, where High, Low and Close are the High, Low and Close of the previous candle bar.

As you can see, the median price, Pivot Point, of the previous candle bar is calculated first. Then the median price is used to derive the support and resistance 1 and 2. We can clearly see that this pivot analysis have nothing to do with any pattern recognition from your chart. It rather uses the concept of averaging and volatility from the centre of the pivot point. One can extend the standard pivot analysis using Fibonacci ratio. However, the extended pivot analysis is still not the direct pattern recognition either.

When we say the support and resistance as in the direct pattern recognition, we are talking about creating support and resistance levels by connecting peak to peak and by connecting trough to trough in your chart. For example, Figure 2-1 shows the support example on GBPUSD H4 timeframe. By connecting three troughs in the chart, we could identify the important support level and we can project the level for the next point for our trading. When the price was approaching to the support level fourth time, the price made a reversal (turning point) movement on the support level. This is what happened at least on the surface. However, what is exactly going on behind the scene? In fact, the support levels are the manifest of the propagation of the Equilibrium Fractal Wave through the price. To demonstrate the propagation of the Equilibrium Fractal Wave, we have added the Zig Zag line on each trough in Figure 2-1. When the price touches the support level each time, new triangle is added to the price wave. The price can continue like this making few more touches on the support level. Sometimes, it is common to see the support with five or more touches. In general, when the vertexes of several non-overlapping triangles are aligned through a straight line below the market price, the straight line becomes the support level.

In our first support example (Figure 2-1), we have visualized the reversal price action around the support. However, it is possible that we can have the support predicting the breakout movement instead of the reversal. For example, the USDJPY in Figure 2-2 penetrated through the support making the breakout on its fourth touch. When the price breakout below the support level, we can see that the size of the last triangle was transformed to be bigger. This is the typical price action when the new equilibrium source is introduced to the market.



Figure 2-1: Support example as in the direct pattern recognition on GBPUSD H4 timeframe.



Figure 2-2: Support Example as in the direct pattern recognition on USDJPY H4 timeframe.

Now let us have a look at the resistance example. As before, we can identify the important resistance levels by connecting peak to peak. In Figure 2-3, we have connected three peaks to identify the resistance level. The price made a reversal (turning point) in its fourth touch on the resistance level. As in the support level, the resistance levels are formed when the vertexes of the several non-overlapping triangles are aligned near the same horizontal level. In this time, the horizontal levels will be located above the market price. As in the support example, it is possible to have a breakout through the resistance too. For example, the EURUSD in Figure 2-4 made a clean breakout on its seventh touch on the resistance level. In this example, the last triangle was transformed in its size as in the support example of Figure 2-2. By summarizing both support and resistances examples, we can identify four different horizontal support and resistance patterns for your trading as shown in Table 2-1.



Figure 2-3: Resistance example as in the direct pattern recognition on GBPUSD H4 timeframe.



Figure 2-4: Resistance example as in the direct pattern recognition on EURUSD H4 timeframe.

Support and resistance Price Action Direction Example
Horizontal Support Reversal Buy Figure 2-1
Horizontal Support Breakout Sell Figure 2-2
Horizontal Resistance Reversal Sell Figure 2-3
Horizontal Resistance Breakout Buy Figure 2-4
Table 2-1: List of horizontal support and resistance patterns for your trading.



About this Article

This article is the part taken from the draft version of the Book: Scientific Guide to Price Action and Pattern Trading (Wisdom of Trend, Cycle, and Fractal Wave). Full version of the book can be found from the link below:

https://algotrading-investment.com/portfolio-item/scientific-guide-to-price-action-and-pattern-trading/

You can also use Ace Supply Demand Zone Indicator in MetaTrader to accomplish your support resistance analysis. Ace Supply Demand Zone indicator is non repainting and non lagging indicator with a lot of powerful features built on. Especially, you can use it like the horizontal support and resistance for your trading as well as the direction prediction trading strategy.

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/

Turning Point Probability and Trend Probability can be measured with Fractal Pattern Scanner at every price action in your chart. The turning point probability can improve the accuracy of trading with horizontal support and resistance. You can watch this YouTube video how you can turn the support resistance into the killer strategy with the turning point probability in Fractal Pattern Scanner.

Below is the landing page to Fractal Pattern Scanner in MetaTrader 4 and MetaTrader 5.

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/

Beat Corona Virus Together Discounts for MetaTrader

Since December 2019, we have observed the loss of lives due to this COVID-19 pandemic. Apart from this, COVID-19 has severely demobilized the global economy. Many of the affected countries have undergone the complete lock down. Life after the COVID 19 is tough for the entire society. We never knew that this will last this long.

During this Covid19 pandemic, we hope everyone is safe and well from this Corona Virus Crisis. We know this affect the whole world. Hence, we provide 50 USD discounts on the six MetaTrader 4 and six MetaTrader 5 products.

Discounted price is shown in the screenshot for the following six products.

Ace Supply Demand Zone indicator
Advanced Price Pattern Scanner
Elliott Wave Trend
Price Breakout Pattern Scanner
Harmonic Pattern Scenario Planner
X3 Chart Pattern Scanner (=Profitable Pattern Scanner)
This discounted price is only available when you buy these products from mql5.com

The price will go back to the original price when the discounts ends. Please take the discounted price now while it last only.

https://www.mql5.com/en/users/financeengineer/seller#products

https://www.algotrading-investment.com/

Here are some simple tips for you to stay safe from this Covid19 Crysis.

Don’t touch your face – Avoid touching your eyes, nose and mouth.
Don’t cough or sneeze into your hands – Cover your mouth and nose with your elbow or tissue when coughing or sneezing. Dispose of used tissue immediately.
Keep your distance – Maintain a distance of at least 2 meter from people who are coughing or sneezing.
Wash, wash, wash your hands
Finally, care the loved one.

Projecting Significant Channels into Future with EFW Analytics

EFW Analytics is a powerful tool for your trading. EFW analytics contains multiple of features. One of them is project significant channels into future (available from version 10.6). The concept behind this is similar to viewing neighboring Channel feature. The difference is that this feature project the channels into future instead of showing them the past footage. Of course, this is fully automatic feature in just one button click. To project the channels into upper price range, just click “Upper” button. To project the channels into lower price range, just click “Lower” button. Once button is clicked, EFW analytics will show 1 to several important lines for your trading. If you want to fine tune the lines, then you can check their rating information. To do so, just move your mouse over each line. Then you can read rating of each channel in your chart. If you believe that some lines are absolutely important, then make sure that you lock them in your chart for nurture reference. To lock the lines, just click over the lines. That is all. Your trading will be ready in 1 minutes. No rocket science at all. It is just one button click.

Below is the link to the EFW Analytics (Equilibrium Fractal Wave 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

New Version of X3 Chart Pattern Scanner Coming For MetaTrader 4 and MetaTrader 5

In version 8.71, we reinforced the zone concept in X3 Chart Pattern Scanner. Zone is the extended concept from the Horizontal Support and Resistance in technical analysis. Zone is the great tool to decide your trading entry and exit as well as managing your risk and reward. Since we understand the importance of the zone concept, we provide the reinforced version of the Pattern Completion Interval for Harmonic Pattern and X3 Chart Pattern in the new version of X3 Chart Pattern Scanner. As before, you can lock this trading zone for the multiple timeframe analysis. New version is both applicable to both MetaTrader 4 and MetaTrader 5 products. Please download the latest version of X3 Chart Pattern Scanner from the link below.

Link to X3 Chart Pattern Scanner Download Page.

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/

Support and Resistance

As a trader, I can not emphasize enough about the importance of support and resistance. Support and resistance is the most popular technical analysis tool in the world of trading. Furthermore, the concept of support and resistance are the basis of many advanced trading strategies too. In fact, many of the advanced trading strategies taught in this book including Harmonic Pattern and Elliott Wave are also partly based on the concept of support and resistance. If you do not have good understanding over the support and resistance, it is recommended staying away from the day trading. Many educational materials do mention about support and resistance but in brief. Different textbooks only discuss them in several different angles and it is difficult to find some unified language talking over the support and resistance. Many book will suggest that support and resistance consists of three or more points touching the same line. On the other hand, some book might mention that support and resistance are the respective levels that you should watch out for your trading. They are correct. However, comparing to its mega popularity, most of the textbook provide the very brief description only. As in the Fibonacci analysis, support resistance is another technique lacks with scientific relevance. In this book, we will use the concept of the Equilibrium Fractal-Wave to visualize the price action around the support and resistance. At the same time, the visualized price action can be further used to derive entry and exit for your trading. In addition, we will show you several important classes of support and resistance for your trading. To visualize the price action around the support and resistance, we use the Peak Trough Transformation with ZigZag indicator. We use the free Peak Trough Analysis tool from the website: www.algotrading-investment.com.

● Horizontal Support and Resistance

https://algotrading-investment.com/2020/06/04/horizontal-support-and-resistance/

● Diagonal Support and Resistance

https://algotrading-investment.com/2020/06/04/diagonal-support-and-resistance/

● Identification of Support and Resistance with the Template and Pattern Approach

https://algotrading-investment.com/2020/06/04/identification-of-support-and-resistance-with-the-template-and-pattern-approach/

About this Article

This article is the part taken from the draft version of the Book: Scientific Guide to Price Action and Pattern Trading (Wisdom of Trend, Cycle, and Fractal Wave). Full version of the book can be found from the link below:

https://algotrading-investment.com/portfolio-item/scientific-guide-to-price-action-and-pattern-trading/

You can also use Ace Supply Demand Zone Indicator in MetaTrader to accomplish your support resistance analysis. Ace Supply Demand Zone indicator is non repainting and non lagging indicator with a lot of powerful features built on. Especially, you can use it like the horizontal support and resistance for your trading as well as the direction prediction trading strategy.

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/

Turning Point Probability and Trend Probability can be measured with Fractal Pattern Scanner at every price action in your chart. The turning point probability can improve the accuracy of trading with horizontal support and resistance. You can watch this YouTube video how you can turn the support resistance into the killer strategy with the turning point probability in Fractal Pattern Scanner.

Below is the landing page to Fractal Pattern Scanner in MetaTrader 4 and MetaTrader 5.

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/

Scan and search future harmonic patterns with Harmonic Pattern Scenario Planner

Harmonic Pattern Scenario Planner is a tool you can scan and search future harmonic patterns in just one button click. It would detect any potential future harmonic patterns in your search range using the algorithm like Monte Carlo simulation. You can even get the potential take profit and stop loss of the future patterns even before they form. What is even more, you can use all the features and functionality of harmonic pattern plus from your harmonic pattern scenario planner too.

Have watched this interesting movie called “Next” ? Check out the guy can see the few minutes into the futures. How powerful the 2 minutes vision for future is. Predicting future is very tactical game but it is hard because future keep changing based on the presents. However, it is definitely an interesting game. As a trader, you can gain a lot of advantage over other traders by predicting futures.

http://www.imdb.com/title/tt0435705/

This movie like predicting concept was equipped in our Harmonic Pattern Scenario Planner. check the power of predictive harmonic pattern for your trading. We are only one selling this future predictive harmonic pattern scanner in the universe.

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

Trading Zone Extended From Support Resistance

Trading zone in technical analysis is the extended concept from the horizontal support and resistance. The zone is the great tool to decide your trading entry and exit as well as managing your risk and reward. Especially, when the zone is drawn around the significant peak and trough, the value for the trading zone is precious. When you use Harmonic Pattern or X3 Chart Pattern, the trading zone can be identified using the Pattern Completion Interval. The detailed process is well described in the Book: Guide to Precision Harmonic Pattern Trading (2016). When you use the supply demand analysis, the zone is identified from the base location. Especially, it is even better if the trading zone is non repainting. The non repainting zone become the powerful tool to decide the entry and exit for your trading because they stay in the location always as the reference.

https://play.google.com/store/books/details?id=8SbMDwAAQBAJ

The trading zone is useful if your trading strategy is based on predicting the market direction. In such a case, the trading zone can provide a sensible place for stop loss. Then you can scale up your take profit target according to your anticipated location. Even if your trading strategy is not based on predicting market direction, the trading zone is still useful. For example, let’s say that you never want to predict the market, but you want to react the market so that you will trade in the direction in which the price is pushed by crowd like support and resistance style. In this case, the trading zone acts like the horizontal support resistance. But the managing your reward and risk is much easier than other mean of support and resistance.

I used the word minimum stop loss instead of the stop loss because sometimes, you might need to make your stop loss slightly bigger than the actual zone. The margin for the stop loss will be depending on your reward to risk ratio. How this reward to risk system works is well described in the latest book: Technical Analysis in Forex and Stock Market (2021).

https://play.google.com/store/books/details?id=pHlMEAAAQBAJ

For your information, we also provide the MetaTrader 4 and MetaTrader 5 indicators that provide the non repainting trading zone. You can have a look at these automated scanner, which you can trade with the direction prediction strategy as well as the react to market strategy.

Here is the link to 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/

Here is the link to X3 Chart Pattern Scanner for MetaTrader 4/ MetaTrader 5.

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/

Mean Reversion Supply Demand Basic Guideline

Supply and Demand zone is the extended version of support and resistance trading with more skills. We provide our own Supply and Demand Zone indicator, Mean Reversion Supply Demand.

Here is the really basic guideline in using Mean Reversion Supply Demand.

H4 = Zone detected in H4 timeframe
S3 = Zone Strength 3
You can also show or hide zones from your chart using button click.

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/

Guided Trading Instruction for Harmonic Pattern Plus

Harmonic Pattern trading is popular trading strategy and we are the first one who combined proper money management into harmonic pattern trading. Here is a simple short article sought by thousands of harmonic pattern traders. Do not miss to read by yourself.

Article Title: Guided Trading Instruction Explained for Harmonic Pattern Plus

https://algotrading-investment.com/2015/11/14/guided-trading-instruction-explained-for-harmonic-pattern-plus_ati-2/

For your information, above article can be downloaded as pdf file and you can read it without any restriction. It is just simple pdf file anyway. You can get the same article from several website but above link is the very original uploaded by the author.

If you want to learn more about Harmonic Pattern Indicators (like their types and operational mode). Then you can also read this article.

https://algotrading-investment.com/2019/08/11/harmonic-pattern-indicator-explained-2/

1. Harmonic Pattern Plus (2014)

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. This is the repainting harmonic pattern indicator.

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 (2014)

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. This is the repainting but predictive harmonic pattern indicator.

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/

New Version of X3 Chart Pattern Scanner Coming For MetaTrader 4 and MetaTrader 5

In version 8.71, we reinforced the zone concept in X3 Chart Pattern Scanner. Zone is the extended concept from the Horizontal Support and Resistance in technical analysis. Zone is the great tool to decide your trading entry and exit as well as managing your risk and reward. Since we understand the importance of the zone concept, we provide the reinforced version of the Pattern Completion Interval for Harmonic Pattern and X3 Chart Pattern in the new version of X3 Chart Pattern Scanner. As before, you can lock this trading zone for the multiple timeframe analysis. New version is both applicable to both MetaTrader 4 and MetaTrader 5 products. Please download the latest version of X3 Chart Pattern Scanner from the link below.

Link to X3 Chart Pattern Scanner Download Page.

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/

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

MT4 Supply Demand Zone Indicator

MetaTrader 4 is one of the most popular trading platform since 2010. It is accessible for free of charge for any trader from all over the world. We provide a range of powerful supply demand zone indicator particularly designed for MetaTrader 4 platform.

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.

MT4 – 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 MT4 version of the Mean Reversion Supply Demand indicator.

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

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

MT4 – Ace Supply Demand Zone Indicator

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 MT4 version of the Ace Supply Demand Zone indicator.

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

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

In addition, we provide the YouTube video for Ace Supply Demand Zone Indicator. In terms of indicator operation, both mean reversion supply demand and ace supply demand zone indicator are similar. Hence, you can watch this YouTube Video to accomplish the supply demand zone indicator.

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

For your information, both indicators provides many powerful features to complete for your trading. You can also use this indicators together with Harmonic pattern and Elliott wave pattern indicators.

Turning Point Prediction for Forex Trading

Fractal Pattern Scanner provides the ability to predict the turning point in the financial market. In this article, we provide the practical guide line on how to use the provided turning point prediction for your day trading. The turning point prediction consists of two prediction types. The first one is the prediction of trough. In the trough prediction, we are trying to predict the possible bullish turning point while the price is falling. The second one is the prediction of Peak. In peak prediction, we are trying to predict the possible bearish turning point while the price is rising. The turning point prediction is useful because it tells us the complete story of the price series. For example, it will provide you the visual guidance of price movement + it will also provides the probability information. It is a true hybrid of statistical prediction and technical analysis. As a trader, we can manage the entry and exit with the turning point prediction. Another advantage is that the probability provides us the opportunity for the second level of decision making. This is in fact the important part because many other technical indicator miss to provide the probability information, which we can use for the more advanced level of decision making. With ability to read these probability, practically we can use these turning point prediction to decide the price action in the financial market. They are the good predictor of the price movement assuming you are not misusing the probability information.

Here are the breakdown of the price action with the turning point prediction. We also provide the screenshot to explain each peak and trough cases with some visual aid. As you can see from the screenshot, we can respectively draw two price action for each peak and trough prediction.

When We Predict the Peak:

1. Possible bullish breakout trading opportunity at low probability area

2. Possible bearish reversal trading opportunity at high probability area

When We Predict the Trough:

1. Possible bearish breakout trading opportunity at low probability area

2. Possible bullish reversal trading opportunity at high probability area.

Probably, guessing of these price actions is so natural during the turning point prediction. The screenshot below is for you to confirm your understanding. If the term of peak and trough is not familiar to you, then google some physics articles explaining Peak and Trough in wave cycle. We are using the identical term here as we do not want to reinvent the wheel again. Once, you understand the cycle with peak and trough in those articles, it would be much easier to project the action items for your trading with this article too. In my opinion, the turning point prediction is in its unique position between the statistical prediction and technical analysis. Probably we can consider it as the hybrid of both world. We will recommend you enjoying this scientific advancement for your trading.

For example, you can watch this video titled as “Breakout Trading vs Reversal Trading – Turn Support & Resistance to Killer Strategy” to understand how to control the market timing with this probability tool.

YouTube: https://www.youtube.com/watch?v=UbORmOacKIQ

Below is the landing page for Fractal Pattern Scanner in MetaTrader version.

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/

Elliott Wave Trading

Below articles will provide a guide to count Elliott Wave using scientific approach. Applying the scientific approach helps to reduce the subjectivity involved in Elliott Wave counting. Hence, you can reproduce your trading outcome over and over.

● Introduction to the Wave Principle

https://algotrading-investment.com/2020/06/04/introduction-to-the-wave-principle/

● Scientific Wave Counting with the Template and Pattern Approach

https://algotrading-investment.com/2020/06/04/scientific-wave-counting-with-the-template-and-pattern-approach/

● Impulse Wave Structural Score and Corrective Wave Structural Score

https://algotrading-investment.com/2020/06/04/impulse-wave-structural-score-and-corrective-wave-structural-score/

● Channelling Techniques

https://algotrading-investment.com/2020/06/04/channelling-technique-elliott-wave/



About this Article

This article is the part taken from the draft version of the Book: Scientific Guide to Price Action and Pattern Trading (Wisdom of Trend, Cycle, and Fractal Wave). Full version of the book can be found from the link below:

https://algotrading-investment.com/portfolio-item/scientific-guide-to-price-action-and-pattern-trading/

Elliott Wave Trend is extremely powerful indicator. 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. You can watch this YouTube Video to feel how the Elliott Wave Indicator look like:

https://www.youtube.com/watch?v=Oftml-JKyKM

Here is the landing page for Elliott Wave Trend.

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

https://www.mql5.com/en/market/product/16472

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

Repainting and Non Repainting Harmonic Pattern Indicator

Here is some quick guide on repainting and non repainting Harmonic Pattern indicators. Pattern Scanner based on Fractal Wave detection algorithm can be either repainting or non repainting one. In our products, we provide two choices between repainting and non repainting. Their capability and their price is different.

For Harmonic Pattern Scanner,

Harmonic Pattern Plus (and also Harmonic Pattern Scenario Planner) is the powerful but they are the repainting Harmonic Pattern Scanner. At the same time, they are cheaper. Below is links for them.

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/

X3 Chart Pattern Scanner is non repainting and non lagging Harmonic Pattern and X3 pattern Scanner. Below is links for them.

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/

Typically it is easier to trade with non repainting and non lagging Harmonic Pattern indicator. Of course, the signal will be reserved once they are detected. Hence, if you do not mind the cost, we recommend to use X3 Chart Pattern Scanner since it is non repainting Harmonic Pattern and X3 pattern indicator.

However, if you do not mind repainting Harmonic Pattern Indicator and you want to have something cheaper, then use Harmonic Pattern Plus (or Harmonic Pattern Scenario Planner). Many traders are still do not mind to use the repainting Harmonic Pattern Indicator. They are cheaper too.

If you are starter, we do recommend using non repainting Harmonic Pattern Scanner like X3 Chart Pattern Scanner. It is easier to trade with non repainting indicator. At the same time, there are a lot of bonus features inside X3 Chart Pattern Scanner too.

For your information, we are the only one who supply non repainting and non lagging Harmonic Pattern Indicator in the world. Of course, the first one in the world too.

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 (Repainting but non lagging)”: https://youtu.be/CzYUwk5qeCk

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

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/

Live Forex Technical Analysis Presentation by Forex Robot Advisor ARI. Sit back and enjoy the entire technical analysis for winning trading.

https://www.youtube.com/watch?v=uTnwKnX9r8E

Superimposed Equilibrium Fractal Waves

Third characteristic of equilibrium fractal wave is that smaller equilibrium fractal waves can combine to form a bigger equilibrium fractal wave (superimposed). This third characteristic is often used by a professional trader to improve the predictability of the financial market. For example, instead of puzzling with a set of small equilibrium fractal waves, it is much more accurate to puzzle with both small and big equilibrium fractal waves together to predict the market direction. Now we show some examples of our reversal prediction using this superimposed equilibrium fractal waves. In Figure 3-23 and Figure 3-24, a large Equilibrium fractal wave is overlapping with a small equilibrium fractal wave. We can make the bullish reversal prediction after the last candle is completed. Making the prediction based on the two Equilibrium fractal waves can increase the probability of winning marginally over just using one equilibrium fractal wave.



Figure 3-23: Superimposed Equilibrium fractal wave for bullish reversal trading setup (EURUSD D1).



Figure 3-24: Superimposed Equilibrium fractal wave for bullish reversal trading setup (EURUSD H1).

Likewise, we can use these superimposed equilibrium fractal waves to make the bearish reversal prediction too as shown in Figure 3-25 and Figure 3-26. You can even use three or four equilibrium fractal waves for your prediction. However, the superimposed patterns with three or four equilibrium fractal waves are rare. If they do appears then they can provide a good trading opportunity.



Figure 3-25: Superimposed Equilibrium fractal wave for bearish reversal trading setup (EURUSD H1).



Figure 3-26: Superimposed Equilibrium fractal wave for bearish reversal trading setup (EURUSD M15).



About this Article

This article is the part taken from the draft version of the Book: Scientific Guide to Price Action and Pattern Trading (Wisdom of Trend, Cycle, and Fractal Wave). Full version of the book can be found from the link below:

https://algotrading-investment.com/portfolio-item/scientific-guide-to-price-action-and-pattern-trading/

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

Supply Demand Zone Indicator on MetaTrader 5

MetaTrader 5 is the next generation trading platform developed by Meta Quote who developed MetaTrader 4. MetaTrader 5 is accessible for free of charge for any trader from all over the world. More and more brokers are now offering MetaTrader 5 trading options even including US based firms.

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. Also note that supply demand zone indicator can be used as a great support and resistance indicator too. So if you are looking for good support resistance indicator, then these tools are good too. Please check it out.

Mean Reversion Supply Demand MT5

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 MT5 version of the Mean Reversion Supply Demand indicator.

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

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

Ace Supply Demand Zone Indicator MT5

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 MT5 version of the Ace Supply Demand Zone indicator.

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

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

In addition, we provide the YouTube video for Ace Supply Demand Zone Indicator. In terms of indicator operation, both mean reversion supply demand and ace supply demand zone indicator are similar. Hence, you can watch this YouTube Video to accomplish the supply demand zone indicator.

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

For your information, both indicators provides many powerful features to complete for your trading. You can also use this indicators together with Harmonic pattern and Elliott wave pattern indicators.

Scan and search future harmonic patterns with Harmonic Pattern Scenario Planner

Harmonic Pattern Scenario Planner is a tool you can scan and search future harmonic patterns in just one button click. It would detect any potential future harmonic patterns in your search range using the algorithm like Monte Carlo simulation. You can even get the potential take profit and stop loss of the future patterns even before they form. What is even more, you can use all the features and functionality of harmonic pattern plus from your harmonic pattern scenario planner too.

Have watched this interesting movie called “Next” ? Check out the guy can see the few minutes into the futures. How powerful the 2 minutes vision for future is. Predicting future is very tactical game but it is hard because future keep changing based on the presents. However, it is definitely an interesting game. As a trader, you can gain a lot of advantage over other traders by predicting futures.

http://www.imdb.com/title/tt0435705/

This movie like predicting concept was equipped in our Harmonic Pattern Scenario Planner. check the power of predictive harmonic pattern for your trading. We are only one selling this future predictive harmonic pattern scanner in the universe.

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