Manual Harmonic Patterns - With interactive inputs

Updated

This script is a drawing tool which allows users to draw XABCD on the chart and script will tell whether there is any harmonic patterns on the drawings made. The script is based on interactive inputs and requires users to chose XABCD points.

Please note

This is not a scanner and it will not scan historical bars for harmonic patterns. This needs to be used rather as drawing tool instead.
Script will not check if selected pivots are correct. It assumes users to know how to select the right XABCD based on pivot high/lows. Bullish pattern will have X, B and D as pivot lows and A,C as pivot highs. Similarly bearish patterns will have X, B, D as pivot highs and A, C as pivot lows.
Script will not check for overflow conditions. For example, if price crosses, XB or BD line, then pattern is considered to be invalid. But, this check cannot be made in this script and we require users to be aware of this condition and select input accordingly.
Order of inputs should be in ascending order. X pivot should come before A and then, B, C, D and F. This again is users responsibility to select pivots in right order.

What happens after selecting XABCD?

If selected pattern is valid harmonic pattern, it will

Draw XABCD lines and labels
Fill harmonic triangles
Show PRZ box which shoes the name of valid patterns.

If it is not valid harmonic pattern, then users will see blank XABCD line without any PRZ or filled harmonic triangles.

Example:
1. When it is valid pattern

2. When it is not valid pattern

Release Notes

Small update to avoid overlapping drawings

Release Notes

Library updates and calculation of PRZ range. XABCD label location fixed.

Release Notes

Update PRZ calculation logic which is both simplified and more efficient. Updated library version for harmonics

Release Notes

Added more patterns using eHarmonicpatternsExtended library

Also added option to enable/disable patterns via settings.

Release Notes

Update library reference

Release Notes

Update Libraries
Remove max_bars_back

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.

Want to use this script on a chart?

Trendoscope

Trial - trendoscope.io/trial
Subscribe - trendoscope.io/pricing
Telegram: p.trendoscope.io/telegram
Rate us : trustpilot.com/review/trendoscope.io

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.