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Using Harmonic Pattern Plus and X3 Chart Pattern Scanner Together
Harmonic Pattern Plus and X3 Chart Pattern Scanner are the great harmonic pattern detection indicator. Some trader asked me if they can use Harmonic Pattern Plus and X3 Chart Pattern Scanner together.
The short answer is yes. It is possible to combine them. Even though both indicators detect harmonic patterns, they are using completely different pattern detection algorithm. Harmonic pattern Plus uses the classic pattern detection algorithm whereas X3 Chart Pattern Scanner uses non repainting pattern detection algorithm (i.e. latest pattern detection technology).
There can be some overlapping in the detected patterns. However, many patterns can be detected in different timing. If both indicator detect the same patterns, then the patterns are often more accurate. At the same time, with non overlapping patterns, you have less chance to miss out the good signals.
When you want to use the channel function together with Harmonic Pattern, then use the channel function in X3 Chart Pattern Scanner because it is more advanced version.
Of course, the same logic applies to Harmonic Pattern Scenario planner.