Fun with Thinkscript: harmonic indicator animation

I love using harmonic package of pattern indicators with the basic market structure indicator. Both sets of indicators have reduced the time I spend on analysis.

Jose R.

Harmonic Pattern Collection Lite

Updated: 05 Sep 2022


I am pleased to announce the only harmonic pattern indicator for Thinkorswim that is fully endorsed by Scott Carney, the president and founder of Scott owns all of the trademarks associated with the harmonic patterns and is the hands-down expert in teaching others how to trade the patterns.

The phrase “harmonic trading” and all related pattern names are trademarked by Scott M. Carney and are used with his permission.

This indicator is based on information from his book Harmonic Trading: Volume 1. To learn more about harmonic patterns directly from the author, visit his website— Scott offers video training through the free, basic membership on his website.

The harmonic pattern collection lite indicator identifies the following patterns:

Example of Bearish Bat Pattern

Things to notice in the video:

  • The pattern is automatically labeled
  • Once identified, the ideal pattern completion point is projected via the dashed lines
  • The potential reversal zone (PRZ) is highlighted in purple near the ideal completion point
  • After price has reached the PRZ, the three, user-configurable, target lines are drawn in purple

Works on Thinkorswim Mobile

Works on Thinkorswim Mobile

Harmonic Trading

Harmonic Trading utilizes the best strategies of Fibonacci and pattern recognition techniques to identify, execute, and manage trade opportunities. These techniques are extremely precise and comprise a system that requires specific conditions to be met before any trade is executed. The Harmonic Trading approach offers information regarding the potential state of future price action like no other technical methods.

I've been programming for almost a decade in a variety of languages. I decided to try one of Robert's indicators (Gartley and Bat patterns) instead of reinventing the wheel, and to say the least, Robert is brilliant. Indicator works well, and though I haven't traded much since purchasing it, the back tests are surprisingly accurate.

Well worth the money.


Hi Robert. I've had success trading your harmonic patterns so far. So far 2-2 for 100 pips. Thanks!

Richard O.
Fun with Thinkscript: Gartley Example

This indicator will work on any chart time frame and with any instrument (stocks, futures, currency pairs, etc.).

This indicator does not include entry or exit signals. The trader is responsible for deciding when to enter and exit a position.

The Potential Reversal Zone

This area is marked as a highly probable area for a reversal. This potential reversal zone (PRZ) is marked once point “C” is identified. By calculating the various Fibonacci aspects of a specific price structure, harmonic patterns can indicate a specific area to examine for potential turning points in price action.

In the video below, the PRZ is shaded blue and is seen once the butterfly pattern has been identified.

Finding potential trades

A scan script is included to easily find stocks that are forming a harmonic pattern.


Update: 05 Sep 2022


Added the ability to choose whether to show all patterns or only bullish or only bearish patterns. This reduces clutter on the charts and allows the trader to focus on their desired market bias.

Added a vertical line to indicate the “terminal bar”. This brings the indicator more in line with the harmonic pattern indicators that are available on other trading platforms. See image below for an explanation.

Free trial version available

If you would like to try out the harmonic pattern collection for free, just send me a message using the contact page.

Harmonic Patterns testimonial