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Scan Entire Symbols and Timeframes for Harmonic Pattern formation
Optimum Chart provides the ability to scan entire symbols and timeframes for harmonic pattern formation. Based on the patterns, you can make your buy and sell decision. It is only one button click. After the scanning, Optimum Chart provides many options to improve your accuracy. The idea is “let your computer works hard for you”. Then you apply the end results for your trading. Here is the five steps to follow.
1. Open any chart
2. Attach Harmonic Pattern Scanner to the chart
3. Check if you want to scan all timeframe too
4. Wait until the progress bar will indicate 100% scanning
5. Sort the column according to your preference for your trading
There are few things you need to know when scanning Harmonic Patterns across the entire database.
Firstly, scanning all symbols and all timeframe takes much longer time than scanning all symbols only. In Forex, this might be not the problem. We recommend to scan all Symbols + all timeframes. However, for stock market data, we only recommend to scan all symbols only. Otherwise, it can take too long to complete scan although the progress bar will notify you the progress. For Forex, it is fortunately fairly fast.
Secondly, by clicking the column header, you can sort the patterns according to your preference. This is an important feature to filter out the bad patterns for your trading. But often some traders forgot this because they are not familiar with Windows Graphic User Interface. For example, you can sort the patterns by the pattern size. You can only trade the large or small patterns for an example. Many other scenario is possible for your trading.
That is it. We hope you liked this simple tutorial. It is important that Optimum Chart provides you the full control over your harmonic pattern selection.