Accuracy Of The Harmonic Scanner Forex Traders Can Rely On.
The FSO Harmonic Scanner is not a scam, instead the harmonic pattern trading tool and forex signal scanner has helped more than people around the globe to successfully master on how to trade harmonic patterns. But of course, where is success there are haters and naysayers. The New PRE HARMONIC SCANNER for MT4 has a 95% accuracy and it’s highly precise. It’s an NON-REPAINT technical analysis pattern swing scanner based on my trading style. It’s a VERY WANTED Forex indicator that will show you the swing trade to take, based on the best price entries.
Dont go for every pattern! User didn't leave any comment to the rating. Highly recommended for all traders. It works for me. Support is good if you have any problem about indicator.
The author provided me with some additional information and very fast support. In this version, Harmonic Pattern will be shown at ideal point D. This means that trader can lock as many pattern as he want in the chart.
This feature not only protects traders from the repainting and redrawing issues of the classic Pattern trading but also trader can enhance his trading performance by incorporating multiple timeframe patterns analysis at ease. Potential Reversal Zone Type A: Potential Reversal Zone Type B: This new feature will allow you to have intuitive and more efficient approach of setting your stop loss and profit target from geometric analysis.
Most important feature in this new version is that you can add multiple of Harmonic Pattern Plus controlling different timeframes in one chart. 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.
The ellipses stretched circle shows you the potential entry. 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. Guided Trading Instruction will only calculate your profit assuming you are using median open price, which is the top of the PCI box for bullish pattern, the other way around for bearish pattern.
For more details about version 9. Harmonic Pattern Plus MT4: This is only small minor change from previous 8. There is no version 8. When you are detecting patterns at tick level, make sure that you understand it uses a lot more computation which can make your MetaTrader slow. However, this might be useful for traders using Pattern Completion Interval as entry.
We have implemted 2 new features succesffully for our tools. 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. You can do the same for the price Breakout Pattern Scanner. How to use this feature is very intuitive. You just need to set the swton on and off in your Indicator Input settings. Options to filter out small patterns.
With this input, you can filter out small patterns and you can only trade with big patterns. 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. Smart Renko version 6. 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. Number of detected patterns can be different according to your brick height and now you can even find that pattern specially formed around psychological number round number if this is one of your preferred strategy.
The bug was found after our update on Renko Filter Implementation in version 7. This is equivalent to detect pattern over the dedicated Renko Chart Imagine that you have opened Renko Chart and then put this indicator over the Renko Chart. So it is very powerful due to less noise in the Renko Chart. The good news is that you don't need a dedicated Renko Chart as this indicators does renko brick calculation at the background using Smart Renko Indicator. So you are hassle free but this indicators will does a lot of work for you.
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: 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. In the version 7. If user want to check what pattern is formed in other time frame. It is now possible to check pattern formed across all time frame without changing your chart or time frame.
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. However, this MTD feature require much heavier computation. Therefore, to run this at every candle, we will leave this to your own choice. Graphical objects were drawn in background rather than foreground.
Added the new input variables. Linear regression channel alert bug was fixed. In this version 5. And the following variables were added. Enter fibo number 0. Note that this feature is great so you can study How harmonic pattern evolved through historcal data. This is very powerful feature. For example, you can learn how harmonic pattern worked in and compare its appearance on You can apply this knowledge for your trading.
Something like this can't be achieved by manual traders. However, scanning more bars requires a lot more computation time. So please be careful in using this feature. Also maxium number of patterns indicators can search is So Know this limitation too. For average traders, bars default setting is more than fine. We added Fibonacci projection of followings: Internal Price Retracement XA 2. External Price Retracement BC 3. Future Price projection CD, this is existing Fibo retracement from earlier version Trader can control depth of these Fibonacci Projection using following variable: 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. Of course, user can unlock and delete the locked pattern. This locking and unlocking pattern is done by pressing "Pattern" button on the chart.
Essentially, when you gain an understanding of harmonic price patterns and how these patterns are geometrical in nature, you can apply the.
Fibonacci sequence on them, which should show you the exact turning points. This is quite a unique trading method because its aim is to predict where the market will move to in the future. Regardless of the pattern that is chosen, there is always a potential reversal zone PRZ.
Usually, there isn't an exact price. This is due to the fact that two projections are required to form point D on the pattern. Sometimes, the different levels are in close proximity of each other, which means a trader is able to enter there. However, if the projection zone is far wider, then it is advisable to find a secondary confirmation of the idea that the price is likely to move in a certain direction.
Watching price action or finding an indicator is usually enough to do this. It is also possible to place a stop loss outside of the most distant projection. This implies that it is unlikely that the stop loss will ever be reached unless the pattern wasn't valid and moves outside of its boundaries. Doing so without a tool such as a harmonic scanner would require you to become a true expert in Fibonacci, trading, mathematics, geometry, and more.
Thankfully, with the harmonic scanner, it is much easier to measure and identify patterns, ensuring that you remain on the right track in terms of your own investments.
The best-known patterns are the crab, bat, butterfly, and Gartley and you should always look out for those. Here, an entry will be made inside the PRZ as soon as there is price confirmation that a reversal will take place.
In this case, the stop loss should be placed either above a short entry or below a long entry. That said, some still place it outside of the pattern's furthest projection. There are geometric patterns all around us, and that includes the financial markets. The harmonic scanner forex is essentially a tool that is able to detect such patterns. The fact that harmonic patterns exist in the forex market is no secret.
Harmonic Scanner Forex — The Combination of Fibonacci Numbers and Geometry In harmonic trading, patterns and mathematics are combined to create a precise trading method.
FormationSeeker Premium gives you access to the whole collection of Fibonacci Trading webinars Webinars can be found on the Webinars page.
Because I have patience, discipline and money management. Watching price action or finding an indicator is usually enough to do this.