Here we provide brief description of each element in Harmonic Pattern Plus as some of our customers questioned earlier.
- Harmonic Pattern Detection – primary functionality of Harmonic Pattern Plus.
- Potential Reversal Zone Display – most logical way of sorting possible Fibonacci levels in the market.
- Custom Take Profit and Stop Loss – custom take profit and stop loss are provided for traders who need little simpler trading methodology. Literarily the sizes of custom take profit and stop loss can be changed from indicator setting too. You may select comfortable size according to your preference.
- Japanese Candle stick Pattern Detection – 52 Japanese candle stick pattern detection can assist your trading decision.
- Automatic Regression Channel – this regression channel give you some idea about overbought and oversold indication. Therefore, it is useful to gauge turning point.
- Guided Trading Instruction (GTI) – this panel display useful number and figure for your trading. For example, it include success rate for breakeven and your achievable profit targets based on your reward/risk ratio and your trading frequency.
- Pattern Completion Interval – Pattern Completion Interval define lowest and highest price level for point D or last pattern point for Shark pattern. Below or above this pattern completion interval box, Pattern can’t be formed. Therefore, if the price goes below the pattern completion interval, then pattern formation is failed for bullish patterns.
- Mean Absolute Percent Error (MAPE) – pattern matching error between detected pattern and ideal pattern in the text book. Lower MAPE means closer to ideal pattern.
- Multiple Timeframe Pattern Detection – this feature allow you to monitor the patterns in different time frame efficiently. For example, if you attach Harmonic Pattern Plus to H1 timeframe EURUSD chart. Then you can still monitor what is happening in another time frame like M1, M5, M15, M30, etc without actually opening another chart.
For full details about our Harmonic Pattern Plus, you can visit our manual section here.
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