Harmonic Pattern Collection

Fun with Thinkscript: harmonic indicator animation

Your gartley indicator is AMAZING! it identified a gartley bull from a few days ago on a position I am currently in... If I had your indicator then, I definitely would have capitalized on that.

I cant wait to play the next wave flagged by your Gartley indicator!

Marshall

Harmonic Pattern Collection Lite

Officially licensed for Thinkorswim

 

I am pleased to announce the only harmonic pattern indicator for Thinkorswim that is fully endorsed by Scott Carney, the president and founder of HarmonicTrader.com. 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.

If you purchase the HPC Lite package you will receive a free Gold membership for Scott’s Harmonic Trader program where you will learn how to trade the patterns from the expert. 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—HarmonicTrader.com. 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.

Your gartley indicator is AMAZING! it identified a gartley bull from a few days ago on a position I am currently in... If I had your indicator then, I definitely would have capitalized on that.

I cant wait to play the next wave flagged by your Gartley indicator!

Marshall
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.
Harmonic Patterns testimonial

Finding potential trades

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