Harmonic Pattern Scenario Planner MT5
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 concept, we introduce the Predictive harmonic Pattern Scanner, Harmonic Pattern Scenario Planner. By simulating many possible price scenario, which can happen in the future, the Harmonic Pattern Scenario Planner can show you the potential future Harmonic Patterns in advance. Of course, the indicator will also show you the Harmonic Patterns formed in the present too. Knowing how present patterns will evolve into the future, you can take advantage of early planning. With our indicator, you can think at least 30 steps ahead in the future. You can gain countless benefits from this early planning. We are really proud of introducing this revolutionary Indicator to our Forex community.
Comparison between Harmonic Pattern Plus and Harmonic Pattern Scenario Planner
|Harmonic Pattern Plus||Harmonic Pattern Scenario Planner|
|Showing future patterns||No||Yes|
|Showing present patterns||Yes||Yes|
|Showing past patterns||Many||Few|
|Strategy development using past patterns||Very good||Ok|
|Fibonacci level display from point D||Yes||Yes|
|Expandability with Price Breakout Pattern Scanner||Very Good||Very Good|
|Buttons to control one by one pattern display||Yes||Yes|
|Sound alert and email alert||Yes||Yes|
|Trading Robot (EA) Development||Yes with iCustom function||No|
|Detectable Harmonic Patterns||AB=CD, Bat, Alternate Bat, Butterfly, Gartley, Crab, Deep Crab, Cypher, 3 Drives, 5-0 and Shark||AB=CD, Bat, Alternate Bat, Butterfly, Gartley, Crab, Deep Crab, Cypher, 3 Drives, 5-0 and Shark|
Advantage of Harmonic Pattern Scenario Planner
By knowing future Harmonic Patterns even before they are formed, you can take many advantages:
- Overcome Repainting issue with already formed Harmonic Pattern
- Pip saving by acting early
- Worst case scenario planning before trade entry
- Early identification of important support and resistance lines automatically in advance
- More accurate prediction of entry and exit timing
Mostly importantly, Harmonic Pattern Scenario Planner will provide the success for your trading as you will be always faster than other traders in action.
How Harmonic Pattern Scenario Planner detect 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 behaviour 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 to note by traders whereas some other price path may be insignificant. The Harmonic Pattern Scenario Planner collects those significant price path only. It shows the traders future Harmonic Patterns which will be formed if the present price take that future price path to reach the destination. According to our experience working with many investors and traders, this is what the most informed traders do before their important trading decision with huge amount of capital.
Where can you get more information and support?
You can get more information and support for Harmonic Pattern Scenario Planner from our webpage: http://harmonicpattern.ucoz.co.uk/
Important Note: Many visual objects used in the indicator might not show in the strategy tester appropriately as it previously happened in Harmonic Pattern Plus and Price Breakout Pattern Scanner. So we rather recommend our customer to watch our video clips to understand the functionality of the software than using strategy tester (watch in HD mode).
Potential Reversal Zone Type A: use to predict the reversal point at Point D.
Potential Reversal Zone Type B: use to preduct the future price movement after the pattern is formed.
Multiple Timeframe Control Feature in Single Chart
This description applied to both Harmonic Pattern Plus and Harmonic Pattern Scenario Planner since both of them are identical 95% of their functionality. Most important feature in this new version is that you can add multiple of Harmonic Pattern Plus controlling different timeframes in one chart. If you wish, you can add 4 harmonic Pattern Plus in one chart controlling M15, H1, H4, D1 timeframe or even more. One limitation when you add multiple Harmonic Pattern Plus is that you can only use the Calculation Timeframe (timeframe to detect patterns) greater than current chart timeframe. For example, if your chart timeframe is H1, then you can only use Calculation timeframe H1, H4, D1, etc. You can not use M15 calculation timeframe for H1 chart timeframe since you can not draw the M15 pattern to H1 timeframe chart.
Custom Take Profit and Stop Loss
In version 9.2, Custom Take Profit and Stop Loss are defined using Pattern Completion Interval (PCI) for more clever setup. 3 Take Profit is equivalent to the 3 x the PCI box range. 1 Stop Loss is equivalent to the 1 x the PCI box range. The ellipses (stretched circle) shows you the potential entry. When your order is placed inside this circle,
your Reward/Risk can range from 1 to 10 or even more in strictly mechanical trading. Why this happen? Do some basic math maybe looking at your chart. Note that this is the potential entry level shown only for your convenience but not limited to creating your own clever trading setup. The ellipses is like the ruler to gauge your potential entry in your preferred Rewards/Risk ratio and it is not an indicator showing direction or etc.
For more details about version 9.2, you can check this link below.
Harmonic Pattern Scenario Planner MT5 Comment Section: https://www.mql5.com/en/market/product/6101#!tab=comments&page=2
Feature 1: Options to switch on and off each pattern type. With this option, you can switch off or switch on any pattern type as you wish. For example, if you want to turn off Bat pattern from Harmonic Pattern Plus. Yes. You can. You can do the same for the price Breakout Pattern Scanner. For example, if you don’t want to see head and shoulder pattern, then you can just switch off them. How to use this feature is very intuitive. You just need to set the swton on and off in your Indicator Input settings.
Feature 2: Options to filter out small patterns. We will add “Pattern Size Filter” input. With this input, you can filter out small patterns and you can only trade with big patterns. You can use this feature in our Price Breakout Pattern Scanner too as well as with Harmonic Pattern Scenario Planner. Pattern Size Filter is simply done by counting number of candles inside patterns. So Make Pattern Size Filter large, then you will only see large patterns. If you want to see any patterns, then just set Pattern Size Filter = 0.
For example, you can use Brick Height (in pips) = 10, 20, 25, 50, 100, 200, 500, etc, as they are the fact of 100 or 1000 pips. As long as you are using these brick height, the brick will be drawn in the same level regardless of the amount of historical bars and your brokers. This is really good property as traders can develop strategy universally working across different platform.
This improved version of Smart Renko 6.0 is included in the new update for Harmonic Pattern Scenario Planner. Number of detected patterns can be different according to your brick height for Smart Renko and now you can even find that pattern specially formed around psychological number (round number) if this is one of your preferred strategy.
At the same time, user can choose to detect pattern over normal candle stick too as before. To choose the detection mode, user can use the following variable.
Use Renko Filter for Pattern detection : true or false only
We have currently set the default as Renko Filter Mode.
(Important note, Renko can be calculated using sub time frame. For example, Renko brick can be calculated using M5 or M15 time frame when you actually use this indicator for H1 chart. If the data is loaded, then there is not a problem. But sometime, data loading may be issue. But this is the issue present inside Meta Trader terminal. It might be fixed in the future when new Meta Trader version is released or maybe not. To avoid this issue, your default calculation time for Renko brick calculation is set to current time frame. But you can always change it with your own experiment. In our experience, there can be small difference when you change the calculation time frame. Smaller time frame is generally more accurate. But still higher time frame will do the job too.)
This means that you can choose pattern update frequency at different timeframe from a default one.
For example, if you are using Harmonic Pattern Plus on H1, normally pattern detection will be updated at every 1 hour but now you can even detect pattern at every 1 or 5 minutes instead of every 1 hour.
To do so, simply set Pattern Update Frequency = Period you want (PERIODM1 or PERIODM5, etc.).
This helps you to enter with much better risk/reward ratio.
Button "MTD" is used to perform multi Time Frame Pattern Detection. So press this button to see or hide the multi time frame pattern panels.
We have also added five input setting in regards to this MTD feature.
If you want to permanently run this MTD feature at every candle,
then just set Use Multi Timeframe Pattern Detection = true.
However, this MTD feature require much heavier computation. Therefore, to run this at every candle, we will leave this to your own choice.
//Use Multi Timeframe Pattern Detection
//Use Sound Alert from MTD
//MTD Panel X coordinate
//MTD Panel Y coordinate
//MTD Panel Update Frequency
Overall this MTD feature will help traders to make a lot better and more accurate trading decision.
//Show Pattern Completion Interval ('true' or 'false' only)
//Pattern Completion Interval Box Size (default = 4)
//Pattern Completion Interval Box Width (default = 2)
//Pattern Completion Interval Bullish Color
//Pattern Completion Interval Bearish Color
//Pattern Completion Interval Text Color
//Pattern Completion Interval Text Size
This Linear Regression feature is identical to the one in Harmonic Pattern Plus.
Following inputs are added for Linear Regression Channel:
// Set 'false' to switch off the Channel
// Channel line width (applicable to all three lines)
// ZigZag depth for the channel
// ZigZag deviation for the channel
// ZigZag backstep for the channel
// Set 'true' to select the channel automatically (default)
// Alert if the last price touches the upper channel
// Price deviation in pips from the channel for the alert
// Alert frequency in minutes
//Use Custom Stop Loss and Take Profit
//Custom Take Profit: Enter fibo number 0.386, 0.5, 0.618, 0.786, 1.0
//Risk Reward Ratio (Reward/Risk): user more than 1.0
//Custom Take Profit and Stop Loss Line Length
//Custom Take Profit and Stop Loss Line Width
//Custom Take Profit and Stop Loss Text Size
//Custom Take Profit Color
//Custom Stop Loss Color
//Custom Open Price Color
//Show Guided Trading Instruction
//Guided Trading Instruciton X Coordination
//Guided Trading Instruction Y Coordination
//Your Target Success Rate: 55%(0.55) = default
//Your Risk per Trade: 2% (0.02) = default
//Your Target Trade Number: 100 = default
In version 3.9 New feature 1:
We added Fibonacci projection of followings:
1. Internal Price Retracement (XA)
2. External Price Retracement (BC)
3. Correction of 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)
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 3.9 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)
1. Added ability to change button text size (Text Size button).
2. Added push notifications for sending messages to mobile terminals.