See Chart Operation for instructions on how to access the parameters dialog to adjust the settings listed below.
Total Bars To Use |
Input the number of bars that should be processed for pattern activity. The default is 1000. Range is from 200 to 10000.
The pattern-scanning process is fairly cpu-intensive so we use the Bars To Process setting to limit the number of bars over which active scanning will take place. So, for example, if you loaded a chart with 10,000 bars it might take several seconds for the initial scan to complete if there was no limit. However, with the Bars to Process setting in place we will skip those older historical bars entirely and focus only on the most recent X bars, where X is the value you have specified for Bars to Process.
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Show Bullish Patterns? |
Select Yes to display all Bullish patterns found in the price data. Default value is Yes.
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Show Bearish Patterns? |
Select Yes to display all Bearish patterns found in the price data. Default value is Yes.
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Show AB=CD? |
Select Yes to display all AB=CD patterns found in the price data. Default value is Yes.
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Show Bat? |
Select Yes to display all Bat patterns found in the price data.This selection will control the Bat and Alt Bat patterns. Default value is Yes.
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Show Butterfly |
Select Yes to display all Butterfly patterns found in the price data. Default value is Yes.
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Show Gartley? |
Select Yes to display all Gartley patterns found in the price data. This selection will control the Gartley and Gartley886 patterns. Default value is Yes.
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Show Crab? |
Select Yes to display all Crab patterns found in the price data. This selection will control the Crab and Deep Crab patterns. Default value is Yes.
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Show Shark? |
Select Yes to display all Shark patterns found in the price data. Default value is Yes.
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Show 5-0? |
Select Yes to display all 5-0 patterns found in the price data. Default value is Yes.
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Strict ABCD? |
Select Yes to force a more stringent evaluation for ABCD patterns. This will generally result in fewer overall ABCD patterns being found, but those displayed will be of higher quality and, therefore, more reliable. Default value is Yes.
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Alignment ATRs |
When Strict ABCD? above is checked, you can specify an allowable ATR range for the pattern.
This basically looks at a straight line drawn from the A point, through the middle of the B/C points and it compares the end-point of this line with the actual D point of the pattern. If the distance between the two is within the specified ATR range then the pattern is allowed, if not then the pattern is rejected. This prevents the display of somewhat lopsided ABCD patterns that otherwise meet the minimum ratio requirements.
Default value is 1.5 ATRs.
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Specify the maximum number of points that patterns are allowed to share. The default is 2. By "point" we mean swing points (i.e., where the O, X, A, B, C, D, etc. labels are drawn). If a new pattern is found and if this pattern shares more than the allowable maximum points with another existing pattern then the larger of the two patterns will be kept and the other discarded. Note that this filter applies to Confirmed (completed) patterns only and does not apply to Pending or Potential patterns. Valid range is from 0 to 4. See Display Filters.
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Min Pattern Length |
Specify the minimum allowable pattern length. This measure uses the distance, in bars, from the very first point in a pattern to the very last point. Patterns that are shorter than the specified length will not be displayed. The range is between 20 bars and 3000 bars. Default value is 30 bars.
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Max Pattern Length |
Specify the maximum allowable pattern length. This measure uses the distance, in bars, from the very first point in a pattern to the very last point. Patterns that are longer than the specified length will not be displayed. The range is between 20 bars and 3000 bars. Default value is 300 bars.
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Select Yes if you wish to hide any patterns that are formed within a larger pattern. If true then any Confirmed patterns that are found to be within the boundaries of a larger Confirmed pattern will be discarded. If false then patterns are drawn regardless of whether or not they happen to be inside of larger patterns. Note that this filter applies to Confirmed (completed) patterns only and does not apply to Pending or Potential patterns. Default value is Yes. See Display Filters.
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If set to Yes, then the pattern engine will draw an imaginary line between the specified points and check all price bars between those two points against this line. If the close of any bars push through this line then the pattern is discarded. If not checked then this test is not performed. See Pattern Filters. Default value is No.
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Use B/D Filter? |
If set to Yes, then the pattern engine will draw an imaginary line between the specified points and check all price bars between those two points against this line. If the close of any bars push through this line then the pattern is discarded. If not checked then this test is not performed. See Pattern Filters. Default value is No. |
Show Potential Patterns? |
Check this box to display any Potential patterns found in the price data. A Potential pattern is any pattern that has completed all but the very last leg, and has met all of the rules and requirements for the legs that have completed.
Depending upon the harmonic pattern, there may be several Potential patterns being tracked by the pattern engine at any given time. If this feature is turned on, the pattern engine will display the Potential pattern that is closest in terms of price and time.
When displaying Potential patterns, the pattern engine will draw the completed legs and project the area in the future where price and time would have to meet in order to complete the pattern. Default value is checked (true). See Overview.
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Show Pending Patterns? |
Check this box to display any Pending patterns found in the price data. A Pending pattern is any pattern that meets all of the pattern requirements as of the current (realtime) bar. Now, this pattern will not become a Confirmed pattern until the pivot that forms the final leg has completed (which can be as of the close of the very next bar, or several bars in the future if this happens to be a multi-bar pivot).
Note that a Pending pattern is not guaranteed to become a Confirmed pattern since the current, developing, bar may still move to extremes that invalidate the pattern. However, this feature gives you an important heads-up and gives you time for planning/preparation before the pattern becomes Confirmed. Default value is checked (true). See Overview.
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Potential Logic: |
Select from "C is Formed", "B/C Midpoint Exceeded", and "B Exceeded".
This option allows you to instruct the pattern engine as to when a Potential pattern is a candidate for display (i.e., immediately after the C leg is completed, or only once price moves past the midpoint of the B/C leg, or only once price exceeds the B leg).
Note that regardless of this setting, a Potential pattern will only be displayed if and when all of the other filters/rules have been satisfied. Default value is "B Exceeded".
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Set the line length to use when drawing the PRZ (Potential Reversal Zone) zone lines. Default value is 10 bars. To disable the display of the zone lines, set this value to 0. See Zone Lines.
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Set the additional line length used to draw the T1 and T2 target lines for each pattern. Default value is 10 bars. This means that if the Zone Line Extension is 10 bars then the total line length for the T1 and T2 targets will be 20 bars.
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Select from "Once per Bar" and "Every X Seconds".
This controls how frequently the indicator will check for new and/or updated Potential and Pending patterns while intrabar. Default value is ("Every X Seconds").
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Update Interval (seconds) |
If "Every X Seconds" is selected above then the updates will occur at the interval defined here. Valid range is between 1 and 600. Default value is 20 meaning that the indicator will update every 20 seconds when in realtime, regardless of the actual bar interval.
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Fill Patterns? |
Select Yes to draw all patterns with a filled body. When checked, all bullish confirmed patterns will be filled with a pale green color, all bearish confirmed patterns will be filled with a pale red color, all pending patterns will be filled with a pale blue color, and all potential patterns will be filled with a light grey color. All fill colors are based on the Pattern Leg colors that you define below.
Default value is Yes.
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Opacity |
Input the opacity value to use for filling the pattern bodies if Fill Patterns? is checked. Valid range is a value between 0 and 255. Default is 15.
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Size (4-55) |
Select the font size to use to draw the terminal bar identification symbol. Input a value between 4 and 55. Default is 22.
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Confirmed Bullish Leg Color |
Select the color to be used to draw the legs for bullish Confirmed patterns. Default is green.
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Confirmed Bearish Leg Color |
Select the color to be used to draw the legs for bearish Confirmed patterns. Default is maroon.
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Pending Leg Color |
Select the color to be used to draw the legs for Pending patterns. Default is royal blue.
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Potential Leg Color |
Select the color to be used to draw the legs for Potential patterns. Default is grey.
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Thickness (1-10) |
Select the line thickness to use to draw all pattern legs. Default is 2.5.
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Confirmed Ratio Line Color |
Select the color to be used to draw the ratio lines for Confirmed patterns. Default is grey.
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Pending Ratio Line Color |
Select the color to be used to draw the ratio lines for Pending patterns. Default is royal blue.
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Potential Ratio Line Color |
Select the color to be used to draw the ratio lines for Potential patterns. Default is light grey.
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Thickness (1-10) |
Select the line thickness to use to draw all ratio lines. Default is 1.5.
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Confirmed Leg Label Color |
Select the color to be used to draw leg labels for Confirmed patterns. Default is royal blue.
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Pending Leg Label Color |
Select the color to be used to draw leg labels for Pending patterns. Default is navy.
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Potential Leg Label Color |
Select the color to be used to draw leg labels for Potential patterns. Default is dark grey..
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Font Size (4-55) |
Select the font size to use to draw all leg labels. Input a value between 4 and 55. Default is 9.
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Confirmed Ratio Label Color |
Select the color to be used to draw ratio labels for Confirmed patterns. Default is royal blue.
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Pending Ratio Label Color |
Select the color to be used to draw ratio labels for Pending patterns. Default is navy.
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Potential Ratio Label Color |
Select the color to be used to draw ratio labels for Potential patterns. Default is dark grey.
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Font Size (4-55) |
Select the font size to use to draw all ratio labels. Input a value between 4 and 55. Default is 7.
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Zone Line Bullish Color |
Select the color to be used to draw bullish zone lines for all patterns. Default is green.
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Zone Line Bearish Color |
Select the color to be used to draw bearish zone lines for all patterns. Default is red.
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Thickness (1-10) |
Select the line thickness to use to draw all zone lines. Default is 2.5.
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Zone Text Color |
Select the color to use to draw all text associated with the zone lines. Default is dark grey.
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Select the font size to use to draw all zone line text. Input a value between 4 and 55. Default is 9.
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Show Reverse Zone Labels? |
Select Yes if you want to frame the zone label text in the current zone line color. Default is No.
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Opacity |
Set the opacity to use for the Zone Text background. Valid range is a value between 0 and 255. Default is 160.
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Show Vertical Zone Line? |
Select Yes if you want a vertical line drawn that will connect all zone lines. Default is No.
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Auto-Extend Zone Lines? |
Select Yes if you want all zone lines to extend up until the next pattern. Default is No.
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Alert on Pending Patterns? |
Check this box if you would like an alert generated on each new Pending pattern. The default is unchecked (false).
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Alert on Confirmed Patterns? |
Check this box if you would like an alert generated on each new Confirmed pattern. The default is unchecked (false).
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Use Study Summary? |
Select Yes if you want to use the Harmonic Patterns indicator in conjunction with the Study Summary dialog. Default is Yes.
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Bullish Pattern Background |
Select the color to use for highlighting bullish patterns in the Study Summary dialog. Default is pale green.
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Bearish Pattern Background |
Select the color to use for highlighting bearish patterns in the Study Summary dialog. Default is pale red.
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