FXCodeBase.COM: Forex Chart Indicators and Development

We can write a Signal.

Hi Apprentice,

thank for this code. I like it very much.
I tested it and found an error on "AB=CD" pattern when parameter "show Price target" is set to true, I get error out of range.

I'm a beginer on Lua but for me it's lines 554-455(458-459) for bull/ bear case that are involved.

drawline(D, out[D] + AB*1.272, D + (B-A), out[D] + AB*1.272, Color);



If you can check it.
Thanks!!
Didier

Apprentice wrote:

Harmonic Pattern.png

This indicator. It is based on ZigZag indicator.
I also plan to add support for GannSwing.

Hi Apprentice,

if these patterns are based on ZigZag, why don't you try to elaborate this
by Elliott Wave Indicator

viewtopic.php?f=17&t=2380#p5135

This is slightly more complicated.
The main problem is to find the necessary time.
I have try this several times, the outcome is always uncertain.

I find this Harmonic Pattern Recognition Indicator very useful, although have some questions and enhancement suggestions

I gather that it can be fine tuned using the below values. Could we have a short explantation of how these values are used and derived, especially backstep and deviation?

Pattern Selector
---------> correction -> 25%

ZigZag Calculation
--------> Depth ->12
-------> Deviation -> 5
-------->Backstep -> 3


Show Price Targets - Sometimes causes out of range error
ie "An error occurred during the calculation of the indicator 'HARMONIC PATTERN'. The error details: [string "Harmonic Pattern.lua"]:599: Index is out of range."
Line Selector
-------> Show Price Targets -> Yes


Enhancemnets
A problem with the pattern recognition, is that -
1) Cannot preempt patterns ie takes a min of 3 plus subsequent bars. Can this be changed to less than 3bars?
- Would like the option of a potential pattern being recogniced about 5 bars before formation ie 5 bars before D confirmed, instead of 3 bars after. eg once CD leg hits a selectable range value (eg 1.2 to 2.6 on close, not zigzag ) times the XA leg
2) requires an audio alarm on a potential or a confirmed pattern formation.
3) The option of automatically adding various Fib retracements and extensions on the different legs. eg on a bull butterfly fib XA and display 1.272 and 1.619 fib extensions, to enable an estimate D entry point ie PRZ.

regards
Rod

Your request is added to the developmental cue.

As per Rod178 request, I also find them useful especially some sort of filling the first part of the pattern and alerting in advance the "D" formation. Some kind of automatic alert when pattern is formed.

Cheers

Like Rod178, I would find all his request very useful to my trading.

Cheers

Hi Apprentice,

could you check the AB=CD formula?
D must be calculated from point C and CD equal to AB or 1.27 or 1.618*AB.
Regards

Hello,

do you continue the programming of this indicator?

The addition of a signal (sound and / or text) would be welcome, I try to do it myself but this is difficult, I am not a programmer.
Thank you.