We have released version 1.63 for Optimum Chart. As we informed you before, version 1.63 is shipped with Fractal Pattern Indicator built inside.
This means that now you can measure the probability of each turning point in price and time. This is useful for many trading strategies including fibonacci price patterns, harmonic patterns, elliott wave patterns and X3 patterns as well as moving average cross over, etc.
In version 1.63, we have only implemented Fractal Pattern Indicator without Fractal Moving Average inside. This is due to our decision of shipping Fractal Pattern Indicator and Fractal Moving average indicator as two separate indicators.
This decision was made because constructing Fractal pattern indicator with over thousands of chart objects is too heavy for computation. Also, we will be adding more valuable stuffs to the Fractal Moving Average indicator in the future.
So Fractal Moving Average indicator will come in Optimum Chart too in another update in the future. In term of User interface of Fractal Pattern Indiacator is exactly the same as explained for MetaTrader version here.
For now, make sure to use Fractal pattern indicator for better performance. Here is some simple and straight forward usage of turning point probability in Fractal Pattern Indicator.
If you are using Harmonic Pattern or X3 pattern, make sure that turning point probability in Time > 50% at the point D or last point of the pattern. This will filter out many premature patterns increasing your success rate.
I will explain why this is the case as we have more time to write up in the future.
If you are new and do not know how to update, then here is simple procedure of updating to newer version of Optimum Chart.