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Harmonic Pattern Indicator List for MetaTrader 5

Harmonic Pattern Indicator provide a mean of detecting the turning point in the market. It is one way to solve the puzzle of market geometry, which is often not solvable with technical indicators. If the harmonic pattern detection can be done automatically, I think that is very good start for any harmonic pattern trading.

Here is the list of Harmonic Pattern Indicator for your MetaTrader 5 platform, the most popular forex trading platform in the world. These harmonic pattern indicators are not only detecting harmonic pattern but they also provide the additional features to support you to win in your trading. These listed Harmonic pattern indicators here will provide the best value for the money probably.

1. Harmonic Pattern Plus for MetaTrader 5

Harmonic Pattern Plus is the harmonic pattern scanner. It can detect harmonic patterns with predefined trading entries and stops. Pattern Completion Interval, Potential Reversal Zone and Potential Continuation Zone are supported. In addition, other dozens of powerful features are added like Japanese candlestick detection, automatic channel, etc. Please visit the product page about more information.

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

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

2. X3 Chart Pattern Scanner for MetaTrader 5

X3 Chart Pattern Scanner is non repainting and non lagging pattern scanner for Harmonic Pattern, Elliott Wave pattern and X3 patterns. It is the most advanced but user friendly harmonic pattern indicator. As a bonus, this tool can detect around 52 bearish and bullish Japanese candlestick patterns + advanced Channel features. This is the most advanced Harmonic and Elliott wave pattern scanner in the market.

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

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

3. Harmonic Pattern Scenario Planner for MetaTrader 5

With additional features of predicting future harmonic patterns, this is the tactical harmonic pattern indicator with advanced simulation capability on top of many powerful features of harmonic pattern plus. Try this tactical harmonic pattern indicator then you will know its power.

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

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

How to Identify the Best Buy and Sell Timing

Trading is practical. We trade to make the profits from our trading. Hence, if you are a trader, the most important question to ask is “How do you make profits by trading?”. Say that you and your friend bought the same stock. However, your result can be completely different from your friend. Even if both of you bought the same stock, you could still lose money whereas your friend made money. What makes the difference between you and your friend? It is the entry timing. In another words, the most important factor behind the successful trading is to know the best entry in our trading. This timing question is something that every trader should and must ask. In fact, we can formulate the answer to this question from the market cycle point of view. The simple answer is that this image can visualize such a winning opportunity.



Figure 5-1: Conceptual drawing to demonstrate best buy entry

Say that EURUSD or Bitcoin have the large cycle and small cycle. Your best buy opportunity will be in the area where both small and large cycles are boosted together shown as the dotted line in the image. That is the thin intersection where both short term trader and long term trader are jumping in together. However, this is where most of average traders are stop thinking beyond. There is one problem in this image although its concept is perfectly sound. The problem is that the market does not have the regular cycle, which we can track its peak and trough with fixed time interval as in the sine curve of the Physics text book. Hence, this image is only educational to conceptualize the best buy entry. If it was like that, the money making in Forex or Stock market would have been so much easier buying EURUSD on Monday low and selling at Friday high something like this or similar. In fact, what makes us hard is that the market cycle is not regular but it is stochastic.



Figure 5-2: Market cycle in EURUSD D1 timeframe

Market cycle is irregular. Sometimes, price moves in slow cycle and sometimes price moves in fast cycle. Sometimes price swings around big amplitude and sometimes price swings around only small amplitude. It is the observations we can make every day in Forex and Stock market, the fuzzy and dirty cycles instead of the clean sine curve. Hence, any technical analysis that does not consider this uneven and rough surface of the market is not effective to predict the market.



Figure 5-3: Fractal cycle demonstration

The good news is that understanding the fractal wave can help us to predict the market tremendously. It is because fractal wave is the tool that is theoretically designed to work with price data with many uneven cycles. Unlike the fractal wave, many other tools will suffer more with more number of uneven cycles in the price data, for example, like the normal distribution and other cyclic methods designed to operate with regular cycles. Hence, fractal wave is the best tool to predict the fuzzy and dirty cycles in Forex and Stock market. Theoretically, it is one of the best tool to model stochastic cycles in the Forex and Stock market too. The peak trough analysis is the important first step as it visualizes the fuzzy and dirty cycles in the readable form for us. Therefore, the technical analysis making good use of this peak trough analysis is the important tool to predict the market.

Now going back to the entry timing question, how can we catch the moment where the small and large cycles are boosted together using the technical analysis? Although the technical analysis is the good tool to predict the stochastic cycle, it still does not imply that they are designed to capture the multiple cycles. In fact, the answer is pretty straightforward. Catching the timing where the small and large cycles are boosted together can be done by combining two or more techniques to gauge your entry instead of just using one single technique. Combining two or more technical analysis is a good trading strategy as in practice we might need to capture the intersection for more than two cycles. Technically speaking, when you use multiple techniques, you have a high chance to capture the best entry.

In addition, using two or more chart timeframe could add some value to improve your trading performance too. Good mixture of the technical analysis and the chart timeframe will yield the fruitful results. Hence, if you want to become a successful trader, then training and practice are a must requirement. Here is one final note. As the market consists of the probabilistic cycles, your outcome is not going to be bullet proof. Therefore, you should trade with the high probability setup. You need to understand that trading is about quality and not about quantity. In addition, identifying the best sell entry is exactly the same as identifying the best buy entry. We just need to look for the intersection where both small and large cycles are falling together using the two or more technical analysis.

About this Article

This article is the part taken from the draft version of the Book: Technical Analysis in Forex and Stock Market (Supply Demand Analysis and Support Resistance). Full version of the book can be found from the link below:

https://algotrading-investment.com/portfolio-item/technical-analysis-in-forex-and-stock-market/

You can also use Ace Supply Demand Zone Indicator in MetaTrader to accomplish your technical analysis. Ace Supply Demand Zone indicator is non repainting and non lagging supply demand zone indicator with a lot of powerful features built on.

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/

Below is the landing page for Optimum Chart (Standalone Charting and Analytical Platform).

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

Using Spread Chart from the Pairs Trading Station in MetaTrader

From Pairs Trading Station in MetaTrader version, you can access the Spread Chart, which is mathematically processed to show the distance between two financial instruments (or between two assets).

You can access the Spread Chart by clicking << button or >> button near the Spread button.

Here is the brief guide on how to interpret the Spread Chart. In this example, we use AUDUSD and XAUUSD as asset 1 and asset 2. The absolute magnitude of these two assets are compared in the normalized sense to compare apple to apple and pear to pear. Two cases exist including the positive spread and negative spread.

In positive spread, AUDUSD (i.e. asset 1) is greater than XAUUSD (i.e. asset 2). Higher the positive spread means that AUDUSD is much greater than XAUUSD in the normalized sense. If the positive spread is small, then the difference between AUDUSD and XAUUSD is also small.

In negative spread, AUDUSD (i.e. asset 2) is smaller than XAUUSD (i.e. asset 2). Higher the negative spread means that AUDUSD is much smaller than XAUUSD in the normalized sense. If the negative spread is small, then the difference between AUDUSD and XAUUSD is also small.

Further you can access more detailed trading operation with below Pairs Trading Manual.

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

In addition, you can watch this YouTube Video titled as How to use Pairs Trading Station

https://youtu.be/fAE9pByxZDA

To help you understand the spread chart, we also attach the screenshot.

Pair Trading Station is very unique trading system based on Statistical Arbritage trading principle. Below is the direct link to Pair Trading Station for MetaTrader 4 and MetaTrader 5 platform:

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

So far, we have explained the functionality of Pairs Trading Station in MetaTrader version, covering both MetaTrader 4 and MetaTrader 5. In addition, we also provide the Pairs Trading Station in Optimum Chart too with more advanced features.

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

Supply Demand Zone Indicator on MetaTrader 4

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.

Mean Reversion Supply Demand on MetaTrader 4

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. Please note that Mean Reversion Supply Demand is the excellent tool but it is repainting supply demand zone indicator.

Below are the links to MetaTrader 4 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

Ace Supply Demand Zone Indicator on MetaTrader 4

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. Ace Supply Demand Zone indicator is the non repainting supply demand zone indicator. If you prefer the non repainting indicator, then you must use Ace Supply Demand Zone Indicator.

Below are the links to MetaTrader 4 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.

Pattern Completion Interval and Basic Order Management for harmonic Pattern Trading

Many harmonic pattern trader uses arbitrary order management. Some just uses Fibonacci levels but they are not able to measure or think how each winning and losing trades can affect their trading balance. You do need to know this to grow your capital safely. Risk and Order management is not the concept you can skip regardless of your trading strategy and signals.

Pattern Completion Interval is the concept, first introduced in the Book (Guide to Precision Harmonic Pattern Trading), to help you to trade with harmonic pattern in more scientific Risk management. Here is the link to the Book: Guide to Precision Harmonic Pattern Trading.

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

Especially, it helps you to achieve the desired Reward/Risk ratio while you are trading in real time tick by tick data. Here is one of many approaches how you may use the Pattern Completion Interval concept for your trading. Of course, this approach is compatible with your Harmonic Pattern Plus and Harmonic Pattern Scenario Planner. We produce this diagram so you can understand this approach intuitively without any calculator in your hands. Tr = Take Profit Ratio and Sr = Stop Loss Ratio. The diagram shows the case of two orders but you can even generate more orders taking this example further. Hopefully this new diagram is easier to understand than previous one.

Of course, this precision trading frame work is applicable to our Harmonic Pattern Indicator ranges including Harmonic Pattern Plus and Harmonic Pattern Scenario Planner and X3 Chart Pattern Scanner. These indicators are available for both MetaTrader 4 and MetaTrader 5 platforms.

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

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

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

Volatility Indicator List for Day Trading

Volatility indicator can help you to detect any statistical advantage for your trading. Especially, if you are trading with Price Action and Price Patterns, then we recommend to use the Volatility indicator together with your strategy. 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 too.

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.

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/

Excessive Momentum Indicator and Trading Operation

Excessive Momentum Indicator automatically detects the broken balance between supply and demand in the financial market. Detection of this broken balance provides the great market timing for the entry and exit for our trading. In this short article, we explain some of the controllable inputs in the Excessive Momentum Indicator.

There are the four main inputs, controlling the calculation process of Excessive Momentum Indicator. They are:

* Bars To Scan: amount of candle bars to calculate the indicator. Choose bigger numbers if you want to see the calculation over longer historical period.

* Momentum Strength Factor: Momentum Strength is the strength of Excessive Momentum to detect. It can stay between 0.1 and 0.5. In theory, it can go up to 1.0. However, you will not get many signals to trade. The default setting is 0.1. You can try various Momentum Strength Factor to optimize your trading performance if you wish.

* Equilibrium Fractal Wave Scale: This input controls the size of Fractal Wave when we detect the excessive momentum. If you put bigger number, then you get less signals to trade. The default setting is 0.5.

* Detrending Period: This input controls the statistical calculation in the algorithm. It should stay between 20 and 50.

Above four inputs are important because they can affect the number and quality of trading signals. You can use the default setting most of time. However, it is also possible that you can try different inputs and check how they perform in the historical data. Rest of inputs are probably self-explanatory from their name.

Now, let us cover the trading signals. In the Excessive Momentum indicator, you get two signal alerts. Firstly, you will get alert when the Excessive Momentum is starting in the market. In this case, it will notify you the starting price. At this stage, the excessive momentum is not completely expanded yet.

Secondly, you will get alert when the Excessive Momentum is completed in the market. At this stage, you will be notified both starting price and ending price of Excessive Momentum.

Both starting price and ending price of Excessive Momentum form the Excessive Momentum Zone. At which signal you want to trade is up to your choice. You can use the zone as the breakout trading when the zone is narrow. When the zone is sufficiently large, it might be possible to aim some reversal trading opportunity too.

At the same time, 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).

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

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Below is the landing page for Excessive Momentum Indicator.

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

Here is the link to Volume Spread Pattern Indicator (Paid and Advanced Version).

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/

Here is the link to Volume Spread Pattern Detector (Free and Light Version).

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/

Generating Income with Chart Patterns

Profitable Chart Patterns include Fibonacci Price Patterns, Harmonic Patterns, Elliott Wave, X3 Chart Patterns as well as many other tradable patterns.

Chart Patterns are the good buy and sell signal generator for trading. It provides you the early signal at the turning point. Unlike other technical indicator, you are not lagging with these patterns. Hence you can always move ahead of other trader.

In addition, it is useful because it is extremely easy to combine with other analysis technique in your trading decision. In this short book, we provide the details of these chart patterns in Forex market with some practical tutorials.

In this book below, we explain how to make the best use of Chart Patterns for your trading. What is even better, we have included the bonus chapter of support and resistance.

Website links: https://algotrading-investment.com/portfolio-item/profitable-chart-patterns-in-forex-and-stock-market/

Below is the Harmonic pattern, Elliott Wave patterns and X3 pattern detection tools developed for MetaTrader, the most popular Forex Trading platform.

1. Harmonic Pattern Plus

One of the first automated Harmonic Pattern detection tool released in 2014. It can detect 11 most popular harmonic patterns with well-defined trading entries and stops. Pattern Completion Interval, Potential Reversal Zone and Potential Continuation Zone are supported. In addition, other dozens of powerful features are added like Japanese candlestick detection, etc. Because of affordable price, this harmonic pattern detection indicator is loved by many traders.

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

It is an advanced Harmonic Pattern indicator. On top of the features of Harmonic Pattern Plus, you can also predict future harmonic patterns through simulation. This is the tactical harmonic pattern tool designed for Professional harmonic pattern trader. Because of affordable price, this harmonic pattern detection indicator is loved by many traders.

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

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

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

3. X3 Chart Pattern Scanner

X3 Chart Pattern 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 Chart Patterns. It can detect over 20 Chart Patterns. The bonus is that you can also detect around 52 Japanese candlestick patterns.

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/

Most advanced Elliott Wave Software for your Trading

Elliott Wave Trend is the most advanced Elliott Wave Trading software, which helps you to trade with various Elliott Wave patterns like Wave .12345 pattern and Wave .ABC and Wave .ABCDE, and so on. Elliott Wave Trend was built on the concept of Precision Trading with Elliott Wave Structure Score. Our Elliott Wave Trend is professional tool for professional trader. Elliott Wave Trend is available in both MetaTrader 4 and MetaTrader 5 platform.

In the following article, we explain some basics operation with Elliott Wave Trend in MetaTrader.

https://algotrading-investment.com/2018/10/25/how-elliott-wave-can-improve-your-trading-performance/

At the same time, you can watch YouTube video titled as “Elliott Wave Trend Intro to find out more about Elliott Wave Trend Indicator.

YouTube Link: https://youtu.be/Oftml-JKyKM

Our Elliott Wave Trend is available in both MetaTrader 4 and MetaTrader 5 version. Here are the links to Elliott Wave Trend.

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

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

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

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

Combining Price Breakout Pattern with Support and Resistance

Price Breakout Patterns are in fact the extension of support and resistance trading. When you grab the idea of support and resistance with Price Breakout Patterns, you can really advance your trading a lot. With Price Breakout Pattern Scanner, this is easy task because it provide the built in support and resistance mode.

In the support and resistance mode, your price breakout patterns will be turned into support and resistance. In doing so, you need to set support and resistance mode in your input setting. We will show this in our screenshot.

Once this setup is in place, Price Breakout Pattern will become support and resistance for your trading. With conventional support and resistance together, this could indicate highly probable trading entry.

Below is the YouTube Video link for Price Breakout Pattern Scanner:

YouTube Video Link: https://www.youtube.com/watch?v=aKeSmi_Di2s

Below are the links to 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/

Introduction to Equilibrium Fractal Wave (EFW) Channel

Unlike many other EFW derived patterns including Harmonic patterns and Elliott wave patterns, equilibrium fractal wave is relatively easy to use for our trading. In spite of its simplicity, equilibrium fractal wave can provide an extremely useful insight for our trading. One of the very important usage of equilibrium fractal wave is a channelling technique. The Equilibrium fractal wave channel can be constructed in two steps. In first step, you need to connect the first and third points to draw the base line. Once base line is drawn in your chart, offset the baseline to the middle point of the equilibrium fractal wave to draw the extended line. Since the base line and extended line is parallel to each other, these two lines form a single channel as shown in Figure 3-9.



Figure 3-9: Drawing Equilibrium fractal wave channel.

In the previous chapter, we have spotted that channels are merely a pair of support and resistance lines aligned in parallel. In general, there is various way of drawing channels for your trading. Sometimes, you can draw the channel by connecting several peaks and troughs in your chart. The main difference between the typical channels and EFW channel is that EFW channel is drawn using only three points of a triangle whereas the typical channels are drawn with more than three points.

When you want to control the angle of channel, equilibrium fractal wave provide the most efficient way of controlling the angles. For example, sometimes you might prefer to trade with horizontal channel only. Sometimes, you might prefer to trade with a channel with stiff angle. With equilibrium fractal wave, the angle of channel is simply controlled by the shape ratio. The shape ratio close to 1.000 provides near the horizontal channel or a channel with a near flat angle (Figure 3-10). On the other hands, the shape ratio close to 0.000 provides a channel with a stiff angle (Figure 3-11). The shape ratio around 0.500 provides a channel with a moderate angle (Figure 3-12). Especially when you want to build a mechanical rule for your trading, this property of EFW channel becomes useful.



Figure 3-10: Equilibrium fractal wave channel with the shape ratio around 1.000.



Figure 3-11: Equilibrium fractal wave channel with the shape ratio around 0.100.



Figure 3-12: Equilibrium fractal wave channel with the shape ratio around 0.500.

EFW Channel can be used for many different purposes for our trading. Trader can use channel for the reversal trading. At the same time, trader can use channel for the breakout trading. Trader can use channel for market prediction. For example, an experienced trader can predict the short-term or long-term market direction with a channel or with several channels. Typically, you can detect the four-market states with EFW Channel. Firstly, you can detect the turning point when the market changes from bullish to bearish (Figure 3-13). Likewise, you can detect the turning point when the market changes from bearish to bullish too (Figure 3-14). At the same time, you can measure the momentum of the current market. For example, when the price move over the upwards EFW Channel, it indicates the strong bullish momentum in the market (Figure 3-15). Likewise, when the price move below the downwards EFW Channel, it indicates the strong bearish momentum in the market (Figure 3-16). This logic is very similar to the way Gann’s angle (or Fan) works.



Figure 3-13: Detecting the bearish turning point with EFW channel.



Figure 3-14: Detecting the bullish turning point with EFW channel.



Figure 3-15: Measuring the strong bullish momentum with EFW channel.



Figure 3-16: Measuring the strong bearish momentum with EFW channel.

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). This article is only draft and it will be not updated to the completed version on the release of the book. However, this article will serve you to gather the important knowledge in financial trading. This article is also recommended to read before using Price Breakout Pattern Scanner, Advanced Price Pattern Scanner, Elliott Wave Trend, EFW Analytics and Harmonic Pattern Plus, which is available for MetaTrader 4 and MetaTrader 5 platform.

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/equ..

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

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

Happy Easter Discounts for Technical Indicators

During this Easter Period, we hope everyone is safe and well. We wish your best time with your family too. We provide more than 50 dollar discounts on the MetaTrader 4 and MetaTrader 5 products. Please take the discounted price now while they last only.

Here is the Discounted price. The price reduction is applicable to both MetaTrader 4 and MetaTrader 5 version of the indicators.

Ace Supply Demand Zone indicator (150 to 100 dollar, Save 50 dollar)
Advanced Price Pattern Scanner (230 to 180 dollar, Save 50 dollar)
Elliott Wave Trend (250 to 200 dollar, Save 50 dollar)
Price Breakout Pattern Scanner (150 to 100 dollar, Save 50 dollar)
Harmonic Pattern Scenario Planner (150 to 100 dollar, Save 50 dollar)
X3 Chart Pattern Scanner (358 to 280 dollar, Save 78 dollar)
Excessive Momentum Indicator (250 to 200 dollar, Save 50 dollar)
This discounted price is only available when you buy these technical indicators from mql5.com

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

You can also find a lot of information on how to use these technical indicators from the link below.

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

Ace Supply Demand Zone Indicator – How to Remove Take Profit and Stop Loss Levels

One of the greatest advantage of Ace Supply Demand Zone indicator 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.

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 learn the basic operation with the supply demand zone indicator.

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

Below is link to Ace Supply Demand Zone Indicator.

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/

New Article Released -Turning Point, Peak, Trough, Swing High, Swing Low, and ZigZag

We have released an important article for your practical financial trading. Please make sure to read this article to enhance your trading performance. This article explains the important terminology for your trading like Turning point, peak, trough, swing high, swing low and zigzag.

More articles will be followed shortly. Then enjoy this free articles for your trading education.

https://algotrading-investment.com/2020/04/06/turning-point-peak-trough-swing-high-swing-low-and-zigzag/

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

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

Below is the landing page for 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/

Below is the landing page for Optimum Chart

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

MetaTrader Indicator YouTube Links

Sometimes seeing is much better than reading. YouTube provides a great space to share videos for technical analysis in Forex and Stock Market. Here are some YouTube video links for great MetaTrader indicators with Gann Angles, Elliott Wave, Harmonic Pattern, X3 Pattern, and many other trading systems. Just click the link to open YouTube video of each MetaTrader indicator.

1. Fractal Pattern Scanner

YouTube Link: https://youtu.be/QGHvKjECX1U

YouTube Link: https://youtu.be/_bstJrIevSQ

Landing Page to Fractal Pattern Scanner

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

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

2. Advanced Price Pattern Scanner (MT4/MT5 available)

Youtube link: https://www.youtube.com/watch?v=A1-IUr6u5Tg

https://www.mql5.com/en/market/product/24679

https://www.mql5.com/en/market/product/24678

3. Elliott Wave Trend (MT4/MT5 available)

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

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

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

4. X3 Chart Pattern Scanner (MT4/MT5 available)

Youtube: https://www.youtube.com/watch?v=uMlmMquefGQ

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

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

5. Price Breakout Pattern Scanner (MT4/MT5 available)

Youtube: https://www.youtube.com/watch?v=aKeSmi_Di2s

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

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

6. Harmonic Pattern Plus (MT4/MT5 available)

YouTube link: https://www.youtube.com/watch?v=CzYUwk5qeCk

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

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

Visit our website for more information about these powerful trading tools and system.

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

www.algotrading-investment.com

Chart Pattern Detection on Multiple Timeframe

X3 Chart Pattern Scanner comes with the ability of detecting pattern across different timeframe. This feature is handy because you can scan potential buy and sell signal from one chart only. Here we show how to do it in your chart. Simply go to input setting. Then set “Use Multiple Timeframe Pattern Detection” = true. Check the screenshot for the procedure.

Of course, the pattern detection at multiple timeframe will force 6 to 9 times heavier computation to your MetaTrader. Hence, this will push your CPU and Memory higher. Before using this multiple timeframe feature, please do understand the trade off between heavy computation and the CPU and memory. If your computer has strong CPU and bigger RAM, then this would be no problem.

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/

Happy Easter Discounts for Technical Indicators

During this Easter Period, we hope everyone is safe and well. We wish your best time with your family too. We provide more than 50 dollar discounts on the MetaTrader 4 and MetaTrader 5 products. Please take the discounted price now while they last only.

Here is the Discounted price. The price reduction is applicable to both MetaTrader 4 and MetaTrader 5 version of the indicators.

Ace Supply Demand Zone indicator (150 to 100 dollar, Save 50 dollar)
Advanced Price Pattern Scanner (230 to 180 dollar, Save 50 dollar)
Elliott Wave Trend (250 to 200 dollar, Save 50 dollar)
Price Breakout Pattern Scanner (150 to 100 dollar, Save 50 dollar)
Harmonic Pattern Scenario Planner (150 to 100 dollar, Save 50 dollar)
X3 Chart Pattern Scanner (358 to 280 dollar, Save 78 dollar)
Excessive Momentum Indicator (250 to 200 dollar, Save 50 dollar)
This discounted price is only available when you buy these technical indicators from mql5.com

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

You can also find a lot of information on how to use these technical indicators from the link below.

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

Advanced Price Pattern Scanner Versus Price Breakout Pattern Scanner

Many of you can be curious how our Advanced Price Pattern Scanner and Price Breakout Pattern Scanner are different from each other. Simply speaking, Advanced Price Pattern Scanner is the non repainting price pattern scanner whereas Price Breakout Pattern Scanner is based on repainting pattern detection. You will feel that Advanced Price pattern Scanner is using completely new pattern detection algorithm from Price Breakout Pattern Scanner. Even same patterns are detected in different timing between them due the the different pattern detection algorithm.

However, Advanced Price Pattern Scanner is more expensive. Hence, if you are concerned with the price. Then you can still go ahead with Price Breakout Pattern Scanner. Price Breakout Pattern Scanner will do generally everything for your need from price pattern detection + Japanese candle stick pattern detection and so on. If you need the non repainting price pattern scanner, we certainly recommend to use Advanced Price Pattern Scanner. In addition, Advanced Price Pattern Scanner also provides the multiple timeframe pattern detection helping you to reduce number of charts to open.

Here are the links for Advanced price Pattern Scanner.

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

https://www.mql5.com/en/market/product/24679

https://www.mql5.com/en/market/product/24678

Below are the links to 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/

Introduction to Harmonic Pattern Scenario Planner

The present state of Forex market can go through many different possible price paths to reach its future destination. Future is dynamic. Therefore, planning your trade with possible future scenario is an important step for your success. To meet such a powerful concept, we introduce the Harmonic Pattern Scenario Planner, the first predictive Harmonic Pattern Tool in the world among its kind.

Main Features

Predicting future patterns for scenario analysis
11 Harmonic Pattern Detection
Automatic stop loss and take profit recognition for superb risk management
Pattern Completion Interval 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.


Scenario Simulation for Future Harmonic Pattern

There are powerful simulation techniques known to generate possible future price patterns like Monte Carlos Simulation, Brownian motion simulation, etc. To do so, we need to understand the price behavior including distribution and its randomness. Then we repeat the simulation as many times as possible to identify various future price path. Some future price path may be very important for your trading whereas some other price path may be insignificant. Harmonic Pattern Scenario Planner collects those significant price paths only for your advance trading decision.

How to Use

You can run Harmonic Pattern Scenario Planner like Harmonic Pattern Plus to pick up the turning point. At the same time, you can predict the future patterns for the advanced scenario analysis. The predicted pattern can be used for the earlier decision making for your trading.

Reduce commission and slippage using pending orders in advance
Worst case scenario planning before taking position
Early identification of important support and resistance lines automatically in advance
More accurate prediction of entry and exit timing
How to Trade

Each Harmonic Pattern provides you the potential entry for the turning point. You might apply few other filters to improve your trading. Some of the basic filters you can apply include RSI, CCI, MACD, Bollinger Bands, and Moving Average. More advanced filter can include Price Breakout Pattern Scanner, Mean Reversion Supply Demand, Elliott Wave Trend, and Harmonic Volatility Indicator. Please note that the trading performance can vary for your trading experience and trading skills.

Indicator Input

Here we list part of input setting. For full input setting, visit this webpage:

https://algotrading-investment.com/2018/10/25/short-guideline-for-harmonic-pattern-plus-and-harmonic-pattern-scenario-planner/

Harmonic Pattern Parameters 1 ( User Option ) ===========================

These parameters below concerns operations of Harmonic patterns. You can change button size, timeframe to detect patterns and alerts using these parameters. You can change timeframe of pattern detection. However, you cannot use smaller timeframe pattern detection for higher timeframe. For example, you cannot set Timeframe to detect patterns = H1 timeframe while you are using D1 chart.

Timeframe to detect Patterns
Max number of patterns to display
Pattern Index from which to display
Enable sound alert
Send email if pattern is found
Send notification if pattern is found
Display Fibo retracement (DC Future Price Projection)
Fibo Retracement Length
Fibo Retracement Color for pattern
Fibo Retracment Wdith for pattern
Use white background for chart
Amount of bars to scan for pattern search (1500 = default)
Detect Pattern at Every Tick: true or false only
Pattern Update Frequency (Period)
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