Harmonic Pattern Indicator
was basically designed for determining patterns Gartley Butterfly, which was first mentioned by Harold Hartley in the author’s book “Profit on the Stock Exchange” in 1935.
Harmonic Pattern Indicator Trading Strategy offers a whole new understanding of the price action.
Harmonic Pattern Includes six basic forex patters:
What is Harmonic Patter Indicator?
Harmonic Pattern Indicator finds on the chart pattern and in addition, shows the upper right corner of the entry point, and gives you an indication of targets for the Take Profit and level for Stop Loss:
Most favourable time for Harmonic Pattern Trading Strategy is the 1h, 4h or the Daily chart.
Harmonic pattern indicator allows calling market turning points with a high level of accuracy. Follow the Price Action Pin Bar Trading Strategy in case you are deprived of prior knowledge of how a reversal trading strategy should appear.
Most of the Forex trading platform includes a harmonic pattern indicator that makes easier to spot and measures the Forex harmonic pattern. Forex harmonic patterns use the Fibonacci numbers to define accurate trading points.
The basic tenets of harmonic pattern recognition as quantified by harmonic ratios define a system that provides immensely relevant technical information and identifies various trading opportunities unlike any other similar methodology.
Harmonic Trading comprises of a variety of measures that includes much more than simple Fibonacci measurement techniques and also an integration of various complex system
of execution and management strategies.
Benefits of Harmonic Pattern Indicator (Harmonic Trading):
The combination of harmonic patterns and the utilization of Fibonacci ratios to quantify price action is one of the finest approaches of Harmonic Trading.
Advanced Harmonic Trading strategies offer immense confirmation signals which leads to more precise executions within a pattern’s Potential Reversal Zone (PRZ).