Study Profitable Chart Patterns for Forex
When we study the profitable chart patterns like Fibonacci price patterns, Harmonic patterns and Elliott Wave patterns, we can observe interesting points about these price patterns. Firstly, all the previous pattern theory used points and lines as the main reference in their pattern structure. For example, in Harmonic Pattern, the main reference to its structure is the XABCD points. This letter is assigned to each point of the pattern. In Elliott Wave pattern, the main reference to its structure is Wave 12345 and Wave ABC. Each number in Elliott Wave represents the swing line at each wave.
The main logic of zigzag price path is that one triangle is built up from three zigzag points or two price swings. Hence, in X3 pattern, the main reference to the pattern structure is the triangles of the pattern instead of points and lines. When you have too many point and line references in your pattern structure, we will feel not easy as the number of lines and points are increasing in our chart. Hence, we are limited to study more complex patterns with points and lines. When you study the triangles of the pattern directly, you can study more complex pattern structure with less overhead cost. Secondly, Fibonacci price pattern, Harmonic pattern, and Elliott Wave theory are Fibonacci number oriented.
Thirdly, the classic patterns have its fixed structure. For example, Harmonic pattern uses five points of XABCD (i.e. three triangles) and Elliott Wave pattern uses Wave 12345 (i.e. four triangles) as an impulse wave and Wave ABC (i.e. two triangles) as corrective wave. X3 price patterns allow you to extend the pattern structure into more number of triangles because we think the profitable patterns can come from both simple and complex structure.
Chart Patterns study is the ultimate weapon for your trading in comparison to the common technical indicators like the moving average or oscillator, etc. Chart Pattern is the tool to solve the market geometry for the Forex and Stock market trader in the intuitive way. We went beyond any individual in developing the powerful Pattern detection indicators and scanner in last 10 years. These tools are already appreciated by top professional trader in the world. We supply these powerful pattern detection indicator and pattern scanner in both MetaTrader 4 and MetaTrader 5.
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.
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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 Scanner is our next generation 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. In addition, we have added the powerful channel function for more accurate buy and sell decision making.
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/
Together with above indicators, you can also use Volume Spread Zone analysis. Our volume spread analysis is free tools you can use. This means absolutely free to download and to use.
https://algotrading-investment.com/2019/09/06/harmonic-pattern-with-volume-zone-oscillator/
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