RSI BAMM
The perfect companion to the harmonic pattern collection.
I have received numerous requests for a method of confirming harmonic pattern completion. In response, I have been working closely with Scott Carney to develop his RSI BAMM indicator for the Thinkorswim platform. This is the perfect companion to the harmonic pattern collection.
Scott introduced the RSI BAMM indicator in his book "Harmonic Trading Volume Two". I highly recommend that you sign up for a free basic membership on his website. By doing so, you will be able to download free PDF copies of all four of his books. Additionally, you will have access to his free harmonic pattern introduction course.
You can learn more about the RSI BAMM indicator by reading the free book mentioned above and by watching the following two videos in which Scott, himself, discusses how to use it with the harmonic patterns.
The red and green dots show the completion of the complex pattern in either the overbought or oversold region. The overbought / oversold lines will turn red / green when RSI crosses the 50 line and will remain that color until the overbought / oversold region has been retested.
