In this article, we will show some Videos about Harmonic Pattern indicator, the automated tool to detect various Harmonic Pattern in your chart automatically. However, not all the harmonic pattern detection indicators are the same. The main variations of Harmonic pattern indicators can be categorized as following four types. Users should understand the pros and cons of each variation to maximize their trading performance with harmonic patterns. Here are some videos to explain Harmonic Pattern Indicator on Youtube that shows the some features of Harmonic Pattern Indicator.
This YouTube video explains about Harmonic Pattern Indicator that scans various Harmonic patterns including Butterfly, Gartley, Bat, Alternate Bat, AB=CD, Shark, Crab, Deep Crab, Cypher, 5-0 Patterns, 3 Drives Pattern and so on. This Harmonic Pattern Indicator Video explains stop loss, take profit and Potential Continuation zone (PCZ), Potential Reversal Zone (PRZ), Pattern Completion Zone (PCZ), etc for Harmonic Pattern Plus (also applicable to Harmonic Pattern Scenario Planner).
Type 1 Harmonic Pattern Indicator: Non lagging (fast signal) but repainting
This type of Harmonic Pattern Indicator (Type 1) provides option to enter from turning point. Indicator does not show the failed pattern in chart and last pattern can repaint. This is almost considered as the standard Harmonic Pattern Indicator. Even if they are repainting, harmonic pattern trader just accept it as it is. 99% of time, this is the harmonic pattern product you will get from the market whether they are free or paid one. You can trade live with this indicators but historical patterns can not be used to fine tune your strategy.
Type 4 Harmonic Pattern Indicator: Non lagging (fast signal) and non repainting
This type of Harmonic Pattern Indicator (Type 4) provides an option to enter from turning point. At the same time, the pattern is not repainting. This is hybrid of all above three type of Harmonic Pattern Indicator and this type of Harmonic Pattern indicator can be considered as the most powerful harmonic pattern indicator. You can trade live with this indicators and you can also use historical patterns to fine tune your strategy. With this indicator, you are complying perfectly with the statement “Trade What you See”.
Here is another video tutorial on X3 Chart Pattern Scanner on YouTube. This video will provide a brief guide on X3 Chart Pattern Scanner.