Harmonic ScannerThe concept of harmonic patterns was introduced in H.M. Gartley's book "Profits in the Stock Market" around 1935. Gartley formation was based on XABCD framework with particular values from Fibonacci values set. With only XABCD frame and Fibonacci values we have over 4 000 atomic combinations. Gartley formation is composed from two atomic combinations. Since then, numerous other combinations have been proposed and can be found on various internet sources. Our objective is not only to utilize known combinations, but also to develop a methodology for identifying combinations that best fit the price changes of a particular financial instrument.
The Harmonic Scanner searches for popular harmonic patterns on a chart and tracks them using typical take profit and stop loss values. The script calculates ideal efficiency by entering a position at the D point and exiting either on the stop loss or at the highest take profit value.
Furthermore, you can enable the "relaxed formations" feature to search for generalized variants of the patterns.
This script can be used by any user. There is no need to have a PRO or PREMIUM account.
Harmonic Scanner is just one component of larger "Harmonic" package, which is designed to simplify the use of the ideas proposed by Gartley and to customize them for various financial instruments.
The Harmonic package includes:
⠀⠀Harmonic Scanner - A classic harmonic patterns detector that checks efficiency by entering in D point and trading move to the take profit value.
⠀⠀Harmonic Predictor - A harmonic pattern detector that checks efficiency by entering at the C point and trading the move to the D point.
⠀⠀Harmonic Scanner TakeProfitMap - A supporting script for scanner, that tracks highest potencial profits from historical transactions to better determine the appropriate take profit values for a given financial instrument.
⠀⠀More components is under developement...
If you prefer a video explanation, please refer to the "HowTo: Harmonic Idea" video.
Script with limited access, contact author to get authorization
Script settings:
Extreme area - Specifies the range in which low/high need to be the lowest/highest bar to be counted as XABCD point.
XA limit - Specifies the maximum distance between successive points in XABCD formation pattern.
Inaccuracy ‰ - It determines the maximum deviation from the conditions that must be met by the pattern. Larger value will produce more duplicates.
Relaxed formations - Formations marked with * will be relaxed on CBD retracement.
Eliminate duplicates - Eliminates formation duplicates. We can precise the maximum deviation of results that are threaded as the same (duplicates).
Verify Predictor - Special mode what can be used to verify results from the Harmonic Predictor script.
List of formations, each letter enables specific formation.
Visualization section with independent settings for the folowing groups:
- Estimated formations ( high or low are still unconfirmed but their confirmation will add new formations),
- Positions (formations tracked for statistics)
- Traded (xlosed positions, either on take profit or stop loss)
For each group of formations following settings can be customized:
- Color used for drawing formation shape
- Checkbox for enabling/disabling shape visualization
- Checkbox for enabling/disabling target visualization
- Picker for selecting the label type
⠀⠀- h(ide)
⠀⠀- s - Labels with small font
⠀⠀- S - Labels with normal font
ShapeBox - Displays a box over formations with the formation name (useful for identifying specific formations).
Color settings - Customize the color of filled and unfilled targets.
Transparency settings - Adjust the transparency of formation shapes and targets.
Statistics - Picker for statistics table type:
H(ide) - Hides the statistics table.
P(ositions) - Shows a list of positions with their corresponding stop loss and take profit values. Take profit values that have been reached are highlighted.
% - Displays the efficiency of formations, split by take profit values.
%W - Displays the efficiency of formations, split by take profit values and weighted by formation size.
Position filter - A filter that works with the P(ositions) statistics.
Troubleshooting:
In case of any problems, please send error details to the author of the script.
Xabcdpattern
Harmonic PredictorThe concept of harmonic patterns was introduced in H.M. Gartley's book "Profits in the Stock Market" around 1935. Gartley formation was based on XABCD framework with particular values from Fibonacci values set. With only XABCD frame and Fibonacci values we have over 4 000 atomic combinations. Gartley formation is composed from two atomic combinations. Since then, numerous other combinations have been proposed and can be found on various internet sources. Our objective is not only to utilize known combinations, but also to develop a methodology for identifying combinations that best fit the price changes of a particular financial instrument.
The Harmonic Predictor is predicting XABCD formations based on XABC chart patterns and simulate trading with price move between points C and D. It's the second way of using harmonic patterns in trading. The script calculates ideal efficiency by entering a position at the C point and exiting either on the stop loss or point D - the take profit value.
Furthermore, you can enable the "relaxed formations" feature to search for generalized variants of the patterns.
This script can be used by any user. There is no need to have a PRO or PREMIUM account.
Harmonic Predictor is just one component of larger "Harmonic" package, which is designed to simplify the use of the ideas proposed by Gartley and to customize them for various financial instruments.
The Harmonic package includes:
⠀⠀Harmonic Scanner - A classic harmonic patterns detector that checks efficiency by entering in D point and trading move to the take profit value.
⠀⠀Harmonic Predictor - A harmonic pattern detector that checks efficiency by entering at the C point and trading the move to the D point.
⠀⠀Harmonic Scanner TakeProfitMap - A supporting script for scanner, that tracks highest potencial profits from historical transactions to better determine the appropriate take profit values for a given financial instrument.
⠀⠀More components is under developement...
If you prefer a video explanation, please refer to the "HowTo: Harmonic Idea" video.
Script with limited access, contact author to get authorization
Script settings:
Extreme area - Specifies the range in which low/high need to be the lowest/highest bar to be counted as XABCD point.
XA limit - Specifies the maximum distance between successive points in XABCD formation pattern.
Inaccuracy ‰ - It determines the maximum deviation from the conditions that must be met by the pattern. Larger value will produce more duplicates.
Relaxed formations - Formations marked with * will be relaxed on CBD retracement.
List of formations, each letter enables specific formation.
Visualization section with independent settings for the folowing groups:
- Estimated formations ( high or low are still unconfirmed but their confirmation will add new potencial formation),
- Potencial (formations tracked for statistics)
- Existing
For each group of formations following settings can be customized:
- Color used for drawing formation shape
- Checkbox for enabling/disabling shape visualization
- Checkbox for enabling/disabling target visualization
- Picker for selecting the label type
⠀⠀- h(ide)
⠀⠀- s - Labels with small font
⠀⠀- S - Labels with normal font
StopLoss - Displays stoploss value for potencial and Estiamted formations.
Hide not precised D - It is expected that the price will change direction in D points, but for some potencial formations price is reaching D point area and continue in the same direction. With this option, you can hide these formations.
Transparency settings - Adjust the transparency of formation shapes and targets.
Statistics - Picker for statistics table type:
H(ide) - Hides the statistics table.
P(ositions) - Shows a list of positions with their corresponding stop loss and take profit values. Take profit values that have been reached are highlighted.
% - Displays the efficiency of formations, split by take profit values.
%W - Displays the efficiency of formations, split by take profit values and weighted by formation size.
Position filter - A filter that works with the P(ositions) statistics.
Troubleshooting:
In case of any problems, please send error details to the author of the script.
Carney Existing Formations v.1.5A harmonic formation pattern scanner based on the Harmonic Trading book series by Scott Carney.
Supported harmonic traiding formations:
Gartley
ButterFly
Bat
alt. Bat
Crab
Greate Crab
Shark
AB=CD
5-0
Cypher
Precise description and knowledge you can get from the Harmonic Trading book series by Scott Carney.
It's the oldest and not optimized version of harmonic formation scanner. Consider checking extensions more advanced versions:
Carney Potencial Formations - Predicting potencial harmonic formation patterns with projection of the target points (Extension to this one with the same old scanner code).
Extreme + XABCD - More advanced harmonic formation scanner that can detect both existing and potencial patterns. It provides also set of performence statistics for current stock.
Waves + XABCD - Move advanced harmonic formation scanner optimized for the Wave theory. Provides performace statistics and short feature waves estimations to notify you about formations as soon as possible.
Script settings:
| SCANNER |
Formation checkbox - Activate/deactive formation detection
Last bars to search - How far in the fast we should look to check formations.
max points distance - How big patterns we are looking for.
Inaccuracy - How large deviations from the "ideal pattern" we accept
Filter duplicates - Limit to one instance of formation type per final bar
Confirmation: precision - Defines how high/low should be the extreme X points in compare to XA value, to be valid.
Confirmation: 3 bars - X should be the extreme in a 3 bar wide neighborhood.
| SHOW |
Line color and width - To customize chart for your preferences
Labels:
H - Hidden
S - Short
F - Full
Show result dialog - You can pick format of formations labels.
| EXTENSIONS |
Carney Potencial Formations - Showing base information about Carney Potencial Formations script
Extreme + XABCD - Showing base information about Extreme + XABCD script
Waves + XABCD - Showing base information about Waves + XABCD script
Troubleshooting:
Result dialog error "Abandoned at ...." - Change "max points distance" to smaller value.
TraidingView (! character):
Loop takes too long to execute (>500ms) - Change "max points distance" to smaller value.
In case of any problems, please contact the author of the script.
[Herif's] Harmonic Patterns ProjectionBullish and bearish 5-point patterns are based on various Fibonacci retracement levels and signify potential reversal zones (PRZ).
As they become 0%-80% complete, the dashed-line pattern will appear, displaying the PRZ and giving you time to prepare for a reversal.
Different combinations of specific fib retracements and extensions result in different patterns, and each is named for identification.
Bullish patterns signify a potential turn to the upside are colored green.
Bearish patterns signify a potential turn to the downside are colored red.
1- Live harmonic patterns which are still in trade with XABCD and ratio with labels.
2- Entry, Stop and Target levels on chart for all patterns.
in Settings:
Error Percent - This is error tollerance for matching pattern ratios. Cannot expect price ratios to be exactly as per books. Hence, adding few error tolerance will help identify patterns better. In this indicator defatult 1%
When there are multiple patterns on chart, Entry, Stop, and Target labels and lines are created with specific distance from each other to provide clarity to the users.
Trailing and Targets
1-Trailing Start Stage - Defines when to start trailing stop-loss. It is recommended to set this value to either Target 1 or Target 2. Disabling the trailing or setting too far away may lead to being in trade on ranging market for too long. This may also result in drawing errors related to distance from current bar.
2- Custom Target Levels - Target and stop levels are set to optimal values based on individual patterns. If you want to override these levels, use the available input option to override targets and chose your custom Target1, Target2, Target3 and Target4
All Pending Patterns you can enable or disable
Classic Patterns : Gartley , Bat, Butterfly , Crab , Deep Crab , Cypher , Shark , Nenstar
Anti Patterns: Anti Nenstar, Anti Shark , Anti Cypher , Anti Crab , Anti Butterfly , Anti Bat, Anti Gartley , Navarro 200
Pending Patterns example here
Carney Potencial FormationsThe script is predicting potencial XABCD harmonic formation patterns on the chart.
Supported harmonic traiding formations:
Gartley
ButterFly
Bat
alt. Bat
Crab
Greate Crab
Shark
AB=CD
5-0
Cypher
Precise description and knowledge you can get from the Harmonic Trading book series by Scott Carney.
Script with limited access, contact author to get authorization
This version is predict potencial formations in current data set only. There is a separate version that is showing formations in historical data.
Script settings:
Precision - How large deviations from the standard we accept
max points distance - How big patterns we are looking for.
Line color and width - To customize chart for your preferences
Show labels - You can pick format of formations labels.
Formation filter - you can pick only one formation from the list to be visible on the screen. Visible formation are marked on the result dialog by -> <- characters. (-1 - show all, 0 show nothing, 1 - show first formation, 2 - show second formation)
Troubleshooting:
TraidingView (! character):
Loop takes too long to execute (>500ms) - Change "max points distance" to smaller value.
In case of any problems, please contact the author of the script.
Carney Existing FormationsThe script searches historical data for XABCD harmonic formation patterns
Supported harmonic traiding formations:
Gartley
ButterFly
Bat
alt. Bat
Crab
Greate Crab
Shark
AB=CD
5-0
Cypher
Precise description and knowledge you can get from the Harmonic Trading book series by Scott Carney.
Script with limited access, contact author to get authorization
This version is showing formations in historical data only. There is a separate version that is trying to predict potencial formations in current data set.
Script settings:
Precision - How large deviations from the standard we accept
Last bars to search - How far in the fast we should look to check formations.
max points distance - How big patterns we are looking for.
Line color and width - To customize chart for your preferences
Show labels - You can pick format of formations labels.
Troubleshooting:
Result dialog error "Abandoned at ...." - Change "max points distance" to smaller value.
TraidingView (! character):
Loop takes too long to execute (>500ms) - Change "max points distance" to smaller value.
In case of any problems, please contact the author of the script.
