Show/Hide Toolbars

Harmonic Pattern Collection for MetaTrader 4

Navigation: Reference

FAQ

Scroll Prev Top Next More

Frequently Asked Questions


 

Please also see our Workstation Requirements and Known Issues sections. This FAQ section addresses some common issues that can crop up, and we also provide answers to some specific user questions:

 

Do you have a version of HPC for MetaTrader 5?

 

Yes, we do. While the pattern-detection logic is identical between the two versions there are some cosmetic and alert-related differences due to differences in the underlying programming API's.

 

The License Panel indicator does not seem to be working and I cannot find my License String.

 

See the Installer page (Subscribing or Requesting a Trial) for information on loading the License Panel.

 

Also see the top of the Installer page. We have a note there regarding the Allow DLL Imports option in MT4. This MUST be turned on before the License Panel indicator will operate.

 

I'm running MT4 with Windows XP, but I cannot get the HPC product to work at all.

 

Windows XP is 18 years old, and Microsoft officially discontinued support in 2016. Please see our Workstation Requirements page, and then update to something from this decade.

I'm running a Windows emulator on my Mac. MT4 operates correctly. Will your HPC software work in this environment?

 

Short answer is that we do not support this configuration as our HPC indicators are not standard MQL4 indicators. That being said, we do have a handful of customers that are successfully running our HPC for MT4 indicators under a Windows emulator. You are welcome to try it but, again, we cannot provide support.

 

How do I change the sounds used for the Confirmed and Pending pattern alerts?

 

Our default sound file is alert.wav. You can change this to any of the sound files that are available in the MT4 Sounds folder. This folder will be located under:

 

C:\Program Files (x86)\<???>\

 

where <???> is either MetaQuotes or the name of the broker from which you downloaded your copy of MT4.

 

Can I generate email alerts from the scanner(s) (hpcPatternScanner) for when I am away from my workstation?

Yes, you can generate standard email alerts (see the Alerts topic) and you also have the option to include a chart snapshot with the email alerts. This feature is only available in the scanner. See the Include Chart Snapshot topic for more information.

 

I not only want to trade patterns from the D point, but from the C point as well. Does HPC support this?

HPC was not designed for that but it will support it to a degree. Potential patterns (i.e., patterns that have completed all but their final leg) will be displayed when available and if they are candidates for completion within the next few bars. You can adjust when Potential patterns are available for display via the Potential Logic parameter under Settings.

 

Can I run a backtest on the patterns?

The short answer is no, the hpcPatternsIndicator does not generate specific buy or sell signals.

 

Sometimes the scanner will show a Potential or Pending pattern, but when I pull up the corresponding chart I do not see that particular pattern.

 

Review this Note on the Scanner Window Operation page.

Do the patterns repaint?

 

A Confirmed pattern cannot change, but it can evolve into a different pattern, or a larger version of the same pattern. So, for example, a Confirmed ABCD pattern can evolve into a Bat pattern several bars later. However, the original ABCD pattern is still there but it may be hidden based on the current Hide Inside Patterns and Max Points Shared indicator settings.

 

For Pending patterns (i.e., those patterns that are forming as of the current price bar and are drawn in blue) it is possible for such a pattern to exist/continue over several bars as long as all of the pattern ratios and requirements are still met, which are fairly strict. But, as stated above, once a pattern becomes Confirmed it may evolve into a new/different pattern over time, but the original Confirmed pattern will always remain. You can see this if you set Hide Inside Patterns to false and set Max Points Shared to 4.

 

I have a very high resolution monitor and the Zone Line text as well as the text in the Scanner is quite small.

 

In the hpcPatternsIndicator inputs menu there are several font-size options available (i.e., Label Font Size, Ratio Font Size, Zone Label Font Size, and Terminal Bar Font Size). Try setting larger font-size values for each until you get the output you want. Then just create a new Template using those font settings that you can apply going forward. See FAQ on Chart Templates below.

 

The hpcPatternScanner also has a font-size option that affects the title row and grid contents. Again, just set this to a larger value until you get the output you want.

 

I typed in a custom list of pairs into the scanner but not all symbols are showing up when I run the scanner.

 

You will need to check two things:

 

Not all brokers have the same naming convention for the pairs so double-check that you are typing in the pair names in the correct format for your particular broker. We use the 'standard' naming convention which is in use by the majority of the brokers out there (i.e., EURUSD, AUDJPY, etc.). Some brokers add characters before the pair name, after the pair name, or in the middle, so it is important that you understand the naming convention used by your broker and that you use that format when inputting your list of symbols to monitor in the scanner. If you use the standard naming convention then the scanner will make its best effort to convert the symbol names into the format used by the broker, but this automatic conversion may not work with all brokers.

 

In the Pairs to Scan parameter field where you input the pairs, each pair MUST be separated by a semi-colon (;).

 

See the Scanner Window Operation page for more information.

 

All of the chart indicators seem to load and operate correctly, but when I pull up the scanner there are no symbols in the list.

 

See the note above. Had this issue with a user this morning where their symbol format was different than the default list of symbols that we included in the scanner. So while on my end I might have USDCAD, on their end the correct symbol name is USDCADi.

 

The solution is to load the scanner, click on the Inputs tab, double-click on the Pairs to Scan field, and type in your list of symbols to scan in the format that is correct for your particular broker. Be sure there are no spaces between symbols, and make sure there IS a semi-colon (;) between each symbol.

 

When I click on a row in the scanner, does it link to a chart?

 

This feature has been added as of version 18.6.21. See the Chart Linking section for more information..

 

I have multiple copies of MT4 installed on my hard drive (i.e., I use different brokers). How do I install the HPC indicators for just one of these copies of MT4.

Good question. Our installer will automatically search for your MT4 data folder, but if you have multiple MT4 data folders there is no guarantee that the folder our installer selects is the one in which you want to install the HPC indicators.

 

To get around this you will need to follow the instructions on our Installer page (Install Current Version of the Harmonic Pattern Collection). When the installer gets to the Select Destination Folder dialog you should launch the copy of MT4 that you want to use, select the File option from the main menu, and then select the Open Data Folder option.

 

In the dialog that appears, right-click your mouse in the address field at the top of the dialog and select the Copy Address as Text option. This will copy the path onto the Windows clipboard.

 

Now close MT4, go back to the Installer dialog and paste this path into the field that you see there, and proceed with the rest of the installation.

 

I ran the HPC installer, but when I then load MT4 I do not see the HPC folder under Indicators.

See the note above. In all likelihood (and whether you know it or not) you have multiple copies of MT4 installed in your system, and the copy that HPC automatically selected for installation is not the copy of MT4 that you are actually using.

 

I'm running several scanner windows and some Access Violation warnings started popping up.

 

This is most likely due to an instance of the scanner module that was closed improperly. Review this section of the Scanner Window Operation page for instructions on how to properly close a scanner window.

 

If you are certain that you have been following the directions in terms of closing a scanner window but you still receive these Access Violation messages, then please let us know so that we can track down the cause of the problem.

 

We will need to know your MT4 Build number, the version of Windows you are running, your PC configuration (i.e., processor and amount of RAM) and amount of free disk space. A short description of the steps taken just prior to the appearance of the warnings will help as well.

 

How to I request a free trial of the HPC software for MetaTrader 4?

 

You should review the Installer page to be sure that you get everything set up correctly. Then follow the instructions under Subscribing or Requesting a Trial. You absolutely MUST send us an email containing your License String and your full name or the trial will not be activated.

 

I have run the HPC Installer but when I launch MT4 I do not see a HPC folder under Indicators.

 

If you have multiple copies of MT4 installed on your hard drive then it is possible that HPC has been installed for one of the other copies.

 

Pull up your copy of MT4, click on File then Open Data Folder.

 

Then move your cursor into the address bar at the top of the dialog and right-click and select Copy Address as Text.

 

Now, close MT4.

 

Then, when you run the installer and it gets to the installation path screen, remove the path that is there and paste in the path you just collected on the clipboard. Then run the installer and it should put the files in with the correct copy of MT4.

 

The path in question should look something like this:

 

C:\Users\<UserName>\AppData\Roaming\MetaQuotes\Terminal\F2262CFAFF47C27887389DAB2852351A

 

I have a few scanners loaded but whenever I change the symbol or bar interval in my chart the scanners reload.

See the discussion on the Loading a Scanner page. Even though our scanners load into separate windows, they are for all intents and purposes just another indicator. And just like any other indicator in MT4, if you change the symbol or bar interval of the chart in which they are attached, the scanner will reload. The way around this is to pick one chart (can even be a minimized chart) that you will NOT change during the trading day and load all of your scanners into this one chart.

The Chart Linking feature is not working. Any time I click on a row in the scanner, the linked chart changes to that symbol/interval but the chart linking ceases to work after that.

 

It sounds like you may have added the hpcChartLink indicator into one of your chart templates, and this should never be done. The hpcChartLink indicator should always be added manually after any template has been loaded. See the note on the Chart Linking page.

I added my custom list of pairs into the scanner module. When the scanner runs I see price info for some of the pairs but not others.

 

A couple of things to check:

 

Make sure you have typed in the pair names correctly, and you have placed a semi-colon between each pair name.

 

Even though your broker may support X number of pairs, the only pairs that are available for use in the scanner module will be those pairs that currently appear in the Market Watch dialog in MT4. You can add more symbols into your Market Watch (thus making them available for use in a scanner) by selecting View off of the main menu, then select Symbols from the drop-down menu. In the Symbols dialog select your server and then look for any pairs that are grayed out (this means the pair is not currently displayed in the Market Watch dialog). Click on each pair you want to add and then click on the Show button.

 

Is there a way to copy information from a scanner module so that I can paste it into another application?

 

Yes, if you right-click in any cell in a scanner module the contents of that cell will be copied onto the Windows clipboard.

For current patterns I cannot see the zone line text (it is past the right margin of the chart) and I cannot seem to drag the price bars to the left.

 

First, right-click in your chart and select Properties. Make sure that the Chart Shift option is checked and make sure that the Chart Autoscroll option is NOT checked.

 

Next, you can control the amount of space between the most current price bar and the right edge of the chart by repositioning the margin caret. In your chart you should see a small grey triangle at the top of the chart and near the right-hand side. Click your mouse on this triangle and you can drag it left or right to adjust the white-space/padding of the chart.

 

See the MetaTrader 4 Chart Management article for more tips and tricks.

 

I don't see the <fill in the blanks> option that is referenced in this user guide in my copy of HPC for MetaTrader 4?

 

We update the software on a regular basis so you need to make sure you are running the most current version. At the top of the Quick Start page in this User Guide we always display the current version number and provide a link to the current installer.

 

You can run the installer at any time and it will update your files. Just follow the instructions on the Installer page.

 

Are there any standard MetaTrader 4 settings that I can adjust to improve performance and reduce CPU load?

 

Sure, select the Tools option from the main menu, then select Options. In the Options dialog select the Charts tab.

 

At the bottom of that Charts dialog page you will see two edit boxes, one for Max bars in history and another for Max bars in chart. By default both of those are set quite high. Unless you have other indicators or systems that require a large number of bars, change the Max bars in chart to something like 2000. That should make a noticeable difference. Note that, in MT5, adjusting the Max bars in chart option makes a much bigger difference in terms of performance. It is strongly recommended that you set the Max bars in chart option to the smallest allowable value, which is 50000.

 

Max bars in history impacts disk space primarily, but in some ad-hoc testing my initial load time dropped when I reduced this setting from the default of 512000 to 20000. Makes sense since smaller files are typically faster to read and to write. Again, though, if you use other indicators or systems that do require a large number of bars then don't adjust these settings.

 

 

 

I ran a standard Windows update and now when I try to run HPC for MT4 it tells me I am not licensed.

 

Our license string is based on a number of hardware and software components that uniquely identify your workstation. It is possible that a Windows update and/or a BIOS or other firmware update will change that license string. If this happens to you, just send an email to hpc@sr-analyst.com with your full name, your email, and your new license string and we will make the change on our end.

 

All of your chart templates are based on a light background. I prefer to use a dark chart background.

You will need to create your own Chart Template:

 

Pull up one of our existing chart templates into a chart. Now, right-click in the chart, select the Template option, then select the Save Template option and type in a new name for your custom template.

 

Back in the chart, right-click in the chart and select the Properties option. On the Colors tab, adjust all of the available color options to your liking. When done, click on the OK button.

 

To adjust the colors used by the indicators, right-click in the chart and select the Indicators List option. Click on each of the indicators in the list in turn and click on the Edit button. In the Custom Indicator dialog, select the Inputs tab and scroll down in the menu until you reach the cosmetic options. Adjust the colors for each indicator, as needed, and then click OK to return to the chart.

 

Once the chart and all indicators look the way you want them, right-click in the chart, select the Template option, and select the Save Template option again. This time you do not need to change the template name since you did that already in step 1 above.

 

Going forward, use this new template to set up your charts.

 

My charts do not always match up with snapshots that Scott posts during the trading day.

 

There are a number of factors that can lead to different patterns being displayed for the same currency pair and timeframe over different platforms, or even different brokers on the same platform.

 

Biggest issue is the fact that Forex is a decentralized market. It is comprised of several 'contributors', such as Gain, FXCM, Oanda, CNB, HSBC, etc. So depending upon your charting platform and/or your broker, your data for a particular pair may come from a specific contributor OR may be based on a composite of several contributors.

 

There can be very small to very significant OHLC price differences when comparing data from one contributor to another (or when comparing a composite to a specific contributor). Harmonic Patterns are based on very precise measurements and ratios. So we measure the component legs of each pattern (i.e., from a bar high to a bar low further down the line) and calculate ratios to express the relationship between the various legs.

 

Even small differences in price can lead to significant differences in the ratios which might kick a pattern out of the acceptable range. So we end up with the situation where we see a particular pattern with data from one broker, but we do not see that pattern when using data from a different broker.

 

Now, while we are constantly working on ways to provide some elasticity to the measurements (while not compromising the integrity of the patterns) it is unlikely that we will ever be able to provide a 100% match from broker to broker due to the data issue described above.

 

 

I submitted my trial request hours ago and no one has gotten back to me.

 

All HPC license requests will generally be processed within 24 hours. Our business hours are 8:00am to 5:00pm EST/EDT and any license requests (trial or purchase) submitted outside of those hours will be processed the next day.

 

If I load the indicators directly from the HPC folder into my charts all works fine, but if I attempt to load one of your pre-defined Templates my copy of MT4 crashes.

We have received a handful of reports from users who have experienced this issue and we are still attempting to resolve it. We think that it may have something to do with the fact that we are using the most current build of MT4 (which is Build 1126 dated 20 Jun 2018) to compile the HPC indicators and a number of HPC users are still running earlier builds. In the most current HPC release (which is 18.09.10) we created all of the templates from scratch and we are hoping this will resolve the issue.

 

If you do encounter this problem please let us know immediately at mt4@sr-analyst.com. Please include a description of the steps you took to generate the error and please also include your MT4 Build number, which you can find by selecting the Help option in MT4 and then selecting the About option from the drop-down menu.

.

Can I use MT4 profiles in conjunction with your HPC indicators?

 

The MT4 profiles feature is not compatible with our HPC scanner module. So if you need to use profiles for whatever reason, you won't be able to use the hpcScannerModule. However, the scanner module allows you to monitor large baskets of securities without keeping a large number of charts open...so you may be able to use the scanner module instead of using profiles. So you have two choices:

 

Option 1: Continue using profiles but do NOT load any scanner modules. In this scenario you would load all of the HPC indicators into all of your charts in all of your profiles, and since no scanners are being used you would be able to switch between profiles with no issues.

 

Option 2: Stop using profiles altogether and use the scanner module(s) instead. In this scenario you would maintain only 2 charts. The first chart would be used to house all of the scanners that you decide to load. In the second chart you would load all of the indicators you need, and you would load the hpcChartLink indicator as well. Going forward, whenever you double-click on any row in any of your scanners, this chart would immediately change to that symbol/interval.

 

I have launched a scanner to monitor a specific interval, but when I compare the most recent patterns displayed in the scanner to those displayed on a chart of the same symbol and interval, they do not match up.

 

This question pops up frequently and 9 times out of 10 it is due to the fact that the chart patterns indicator and the scanner patterns indicator have different settings, or are monitoring for different patterns (i.e., you may have all patterns turned on in the chart indicator but only Crab and Bat patterns turned on in the scanner). So the first step is to make sure that the chart indicator and the scanner are using exactly the same settings and are monitoring the same patterns.

 

With regard to Potential or Pending patterns, please review this Note on the Scanner Window Operation page.

 

If you have checked the items above and you still have an issue, please contact us at mt4@sr-analyst.com.

 

 

Do the indicators work with the Metatrader Mobile App?

No, they do not. Our indicators require the desktop platform.

 

 


See Also:

 

Known Issues

Workstation Requirements

Quick Start

Chart Operation

Scanner Operation

 

© 2024 HarmonicTrader.com & Divergence Software, Inc.