The present state of Forex market can go through many different possible price paths to reach its future destination. Future is dynamic. Therefore, planning your trade with possible future scenario is an important step for your success. To meet such a powerful concept, we introduce the Harmonic Pattern Scenario Planner, the first predictive Harmonic Pattern Tool in the world among its kind.
Scenario Simulation for future harmonic pattern
There are powerful simulation techniques known to generate possible future price patterns like Monte Carlo Simulation, Brownian motion simulation, etc. To do so, we need to understand the price behavior including distribution and its randomness. Then we repeat the simulation as many times as possible to identify various future price path. Some future price path may be very important for your trading whereas some other price path may be insignificant. Harmonic Pattern Scenario Planner collects those significant price paths only for your advance trading decision. You will get the advantage of early warning.
Recommended Usage for Your Trading
You can apply it to any timeframe including M1, M5, M15, M30, H1, H4 and daily. You can also apply it to any currency pairs or future contracts tradable if your broker provides them in your MetaTrader terminal.You can use several different trading setups including:
These parameters below concerns operations of Harmonic patterns. You can change button size, timeframe to detect patterns and alerts using these parameters. You can change timeframe of pattern detection. However, you cannot use smaller timeframe pattern detection for higher timeframe. For example, you cannot set Timeframe to detect patterns = H1 timeframe while you are using D1 chart.
For the detailed guide in Harmonic Pattern trading, you can have a look at the Young’s Mutual Pattern Turning Point Strategy in the book:
Important Note (Must Read)
Harmonic Pattern Scenario Planner does not show failed patterns in chart. This means that the patterns in chart are only successful patterns. These successful patterns do not reflect the true performance of Harmonic Pattern Trading. In fact, this is the limitation of all harmonic pattern indicators and scanner in the market regardless of product type and vendors. This is because showing failed historical patterns in chart was impossible task technologically. More in depth discussion about this limitation can be found here:
|1 October 2014||11.0||30 January 2019||5597|