Some of it's features:
- You can check an unlimited number of the high/low points (the free version only checks the last 5 points). Use the "Number of points to check" option to configure how many points to check.
- Configurable error tolerance - you can set how many % the detected formation can differ from the "ideal" formation. (the free version uses the hardcoded 5% value)
- Formations displayed on top of each other can be moved using the "Move chart" option. When two or more formations share the same points on the chart, only the topmost is visible. With the "move chart" option enabled (it's enabled by default), we move all those points up/down a bit to make all the lines nicely visible and easy to follow
- Each formation uses different color on the chart, so it's easier to follow them
- You can change the width of the and formation lines
- Detects the , , Bat, , , , and .
Important: Checking for more than 200 points and displaying the pattern + "No formation" labels at the same time might make the script too slow to render and result in a "Script error". When that happens, disable the /"No formation" labels or decrease the number of points to check.
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Works for different types of commodities:
Works for different intervals:
Some securities work better than others with patterns:
- The most requested feature - alerts - are finally here. You can add alerts to get notifications when new patterns appear.
- You can disable specific patterns. If you only want to see, let's say, "Gartley Up" or "Cypher Down" patterns, you can disable all other patterns.
- Before, when you used a short interval (seconds or minutes), the script was crashing after the first few bars. This has been fixed, and the script is much more stable. If you want to use it for short intervals, make sure to decrease the "Number of points to check" for better performance (you're anyway interested in the newest points on the chart).
- When multiple patterns share the same points on the chart, they will shadow each other (that is, the topmost chart and label will hide everything that's beneath). This problem was solved in the previous version by the "Move charts" option. But "Move charts" was always moving the charts by the same percentage of the price (TradingView doesn't support moving lines by a specific number of pixels). For 1H, 1D, or 1W intervals, this wasn't a problem, but for small intervals, the charts were moved too much. Now you can select by how much you want to move the charts in the configuration.
- We also added an option to move the labels (if multiple patterns share the same label location).
Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact PatternsHunters for more information, or follow the author's instructions below.
TradingView does not suggest paying for a script and using it until you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Public Library.
You can gain access to the script through our website: https://www.patternshunters.com/harmonic...
Warning: please read before requesting access.