Both the Bat pattern and the Alternate Bat Pattern are supported by the Harmonic Patterns Indicator.
The Bat pattern is a precise harmonic pattern discovered by Scott Carney in 2001. The pattern incorporates the 0.886XA retracement, as the defining element in the Potential Reversal Zone (PRZ). The B point retracement must be less than a 0.618, preferably a 0.50 or 0.382 of the XA leg. The Bat utilizes a minimum 1.618BC projection. In addition, the AB=CD pattern within the Bat is extended and usually requires a 1.27AB=CD calculation. It is an incredibly accurate pattern and requires a smaller stop loss than most patterns.
The Alternate Bat pattern is a precise harmonic pattern discovered by Scott Carney in 2003. The pattern incorporates the 1.13XA retracement, as the defining element in the Potential Reversal Zone (PRZ). The B point retracement must be a 0.382 retracement or less of the XA leg. The Alternate Bat utilizes a minimum 2.0BC projection. In addition, the AB=CD pattern within the Alternate Bat is always extended and usually requires a 1.618AB=CD calculation. The Alternate Bat is an incredibly accurate pattern that works exceptionally well.
The Bat pattern can be toggled on or off by checking/unchecking the Show Bat? checkbox in the parameters dialog.
Here are some example Bat patterns.
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The Terminal Bar is the price bar that reaches the minimum pattern completion requirements and will always be identified by the ☼ symbol. You can adjust the size via the Terminal Bar Font Size option in Settings.
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