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OPEN-SOURCE SCRIPT

Auto Harmonic Patterns - Open Source

By Trendoscope
Wizard
Updated
I may not be able to spend much time on the harmonic patterns and realized that there are not much open source scripts on them either. Hence, decided to release open source version which can be used by other developers for reference and build things on top of it.

Original script is protected and can be found here:
Auto Harmonic Patterns


Logical ratios of patterns are coded as below:

Notations:
  • Lines XABCD forms the pattern in all cases. (OXABCD in case of Three drives )
  • abc = BC retacement of AB, xab = AB retracement of XA and so on



ABCD Classic
  • 0.618 <= abc <= 0.786
  • 1.272 <= bcd <= 1.618


AB=CD
  • Price difference between AB and CD are equal
  • Time difference between AB and CD are equal


ABCD Extension
  • 0.618 <= abc <= 0.786
  • 1.272 <= AD/ BC (price) <= 1.618


Gartley
  • xab = 0.618
  • 0.382 <= abc <= 0.886
  • 1.272 <= bcd <= 1.618 OR xad = 0.786


Crab
  • 0.382 <= xab <= 0.618
  • 0.382 <= abc <= 0.886
  • 2.24 <= bcd <= 3.618 OR xad = 1.618


Deep Crab
  • xab = 0.886
  • 0.382 <= abc <= 0.886
  • 2.0 <= bcd <= 3.618 OR xad = 1.618


Bat
  • 0.382 <= xab <= 0.50
  • 0.382 <= abc <= 0.886
  • 1.618 <= bcd <= 2.618 OR xad = 0.886


Butterfly
  • xab = 0.786
  • 0.382 <= abc <= 0.886
  • 1.618 <= bcd <= 2.618 OR 1.272 <= xad <= 2.618


Shark
  • xab = 0.786
  • 1.13 <= abc <= 1.618
  • 1.618 <= bcd <= 2.24 OR 0.886 <= xad <= 1.13


Cypher
  • 0.382 <= xab <= 0.618
  • 1.13 <= abc <= 1.414
  • 1.272 <= bcd <= 2.0 OR xad = 0.786


Three Drives
  • oxa = 0.618
  • 1.27 <= xab <= 1.618
  • abc = 0.618
  • 1.27 <= bcd <= 1.618


5-0
  • 1.13 <= xab <= 1.618
  • 1.618 <= abc <= 2.24
  • bcd = 0.5


This script contains everything which original script has apart from stats. Use the original script if you are not developer looking for code reference and prefer having stats table.

I have also developed a strategy based on harmonic patterns which can be found here:
Auto Harmonic Patterns - Long only Strategy

Release Notes
  • Removed deviation threshold and disable stats on load. (Can be enabled in settings)
  • Default length is set to 5

Release Notes
Update labels
Release Notes
update labels
Release Notes
Fix error
Release Notes
Remove stats again
Release Notes
Corrected errors in 3-Drive and 5-0 where B does not need to be in the middle.
Release Notes
Minor parameter adjustments.
Release Notes
Add labels.
Release Notes
Minor correction in zigzag calculation logic.

Also, check my other script on harmonic pattern (Again - open source)
Multi ZigZag Harmonic Patterns
Release Notes
No updates. But, just converted to pine 5 :)
Chart patternsDouble BottomDouble TopHarmonic PatternshewhomustnotbenamedTrend Analysistrendoscope

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Trendoscope
Wizard
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