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Old 04-11-2009, 03:33 PM
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Default AFL - Harmonic Patterns

Hello All,

Here is my Harmonic Pattern Detection afl. It is under development. Ur views and suggestions are needed.

It is not based on Zig Zags. Fractals are used to identify pivot points. Each pattern is customizable. Default settings are a bit liberal.

Change "Strength" parameter to identify more patterns. best settings are 3, 4 and 5.

Regards



Second Chart has strength parameter 3

Attached Files
File Type: afl Harmonic1.1.afl (13.4 KB, 849 views)
File Type: afl Harmonic1.1.1.afl (14.6 KB, 925 views)
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Old 04-11-2009, 03:37 PM
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All patterns identified by this afl are not good. U must use ur discretion. U can make an attempt at perfect patterns by changing parameters in the afl.

At this stage the afl lacks Exploration feature and Targets and name of pattern
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Old 04-11-2009, 03:50 PM
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And here is something the afl draws that is really crazy.

It is a Bat Pattern

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Old 04-11-2009, 04:05 PM
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Originally Posted by edakad View Post
Hello All,

Here is my Harmonic Pattern Detection afl. It is under development. Ur views and suggestions are needed.

It is not based on Zig Zags. Fractals are used to identify pivot points. Each pattern is customizable. Default settings are a bit liberal.

Change "Strength" parameter to identify more patterns. best settings are 3, 4 and 5.

Regards


Second Chart has strength parameter 3

But fractals are classified only after completion of next bar, if we have 5 bar fractals then fractal at 4 will appear only after completing 5th bar, how u tackle this issue ?
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Old 04-11-2009, 04:23 PM
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Originally Posted by alex View Post
But fractals are classified only after completion of next bar, if we have 5 bar fractals then fractal at 4 will appear only after completing 5th bar, how u tackle this issue ?

Alex,

Fractals are used for points X, A, B, and C. So 5 bars need to be completed to get point C. By this time, D swing may be under development. Point D is not based on fractals. It is the highest/lowest point after point C Completion. So there is usually no delay in identifying the pattern except some super fast swing in D leg. (which is a warning the pattern might fail)
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Old 04-11-2009, 04:32 PM
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Originally Posted by edakad View Post
Alex,

Fractals are used for points X, A, B, and C. So 5 bars need to be completed to get point C. By this time, D swing may be under development. Point D is not based on fractals. It is the highest/lowest point after point C Completion. So there is usually no delay in identifying the pattern except some super fast swing in D leg. (which is a warning the pattern might fail)

but when we talking about 30 min or 60 min time frame then that D leg can swing really bad, technically we dnt hv fractal till D leg is complete? am i right ?
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Old 04-11-2009, 04:33 PM
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Originally Posted by edakad View Post
Hello All,

Here is my Harmonic Pattern Detection afl. It is under development. Ur views and suggestions are needed.

It is not based on Zig Zags. Fractals are used to identify pivot points. Each pattern is customizable. Default settings are a bit liberal.

Change "Strength" parameter to identify more patterns. best settings are 3, 4 and 5.

Regards



Second Chart has strength parameter 3


Thank you for sharing this AFL. Special thanks for telling the shortcoming. Hope you will overcome them very soon.
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Old 04-11-2009, 05:16 PM
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thnks for the afl,
PRZ top & bottom not plotted,,can u tell how calculate it so tht a line can be drawn manually
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Old 04-11-2009, 05:19 PM
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Originally Posted by alex View Post
but when we talking about 30 min or 60 min time frame then that D leg can swing really bad, technically we dnt hv fractal till D leg is complete? am i right ?

No alex, In harmonic patterns it takes some time to develop the D leg. But if the pattern is too small, then it can complete in 2 to 5 bars. There is a rhythm in harmonic patterns. if XA, AB swings takes 5 bars, then usually it takes around that much more time to complete the pattern. Such small patterns should be observed with lower "strength" levels.We can get small patterns with strength levels of 2 or 1.

These harmonic patterns should have a size and shape, this makes enough time to develop a pattern.
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Old 04-11-2009, 05:29 PM
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Originally Posted by musterion View Post
thnks for the afl,
PRZ top & bottom not plotted,,can u tell how calculate it so tht a line can be drawn manually

Use this for reference on PRZ.



With AB = CD levels and XA swing reversal level for each pattern, identify the reversal zone and watch price action there to confirm reversal.

Much more work has to be done to plot PRZ etc. Now the afl plots the pattern loosely. U can get some more control with parameters for each swing.
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