PatternsHunters

Gartley Predictor

This script predicts the Gartley pattern .
What does it mean "predicts"? It checks the recent high/low points and tries to fit them into the X, A, B, and C points of the Gartley formation (both bearish and bullish ). If there is a match, it draws the possible location for point D.

Does it mean that if there is a Gartley prediction, the price will surely go in that direction? Absolutely not! It means that if the price starts going in the direction of point D, it can change direction again around point D (it's called Potential Reversal Zone). In the above chart, it's more likely that the price will keep going up instead of turning direction and going down towards point D. You can read more about "good" and "bad" predictions on our blog.

"Gartley Predictor" a lightweight version of our Harmonic Predictor script that predicts all the common harmonic patterns ( Gartley , Butterfly , Bat, Alternate Bat , Crab , Deep Crab , and Cypher ).
Release Notes: Version 1.1 - Alerts, more configuration options and stability improvements

  • Alerts - you can now add alerts to get a notification when a new Gartley prediction appears.
  • Configurable line style. You can select between the solid, dotted, or dashed lines. This is useful when you have both the predictions and actual patterns (from our harmonic scanner indicator) on the same chart. To avoid confusion - change the line style of predictions to dots or dashes, and it will be immediately obvious which line is a prediction and which is an actual pattern.
  • Configurable "Move charts" option - you can select by how many percent you want to move charts that are hiding each other. This is useful when you use a small interval where moving charts by 1% of a total price will move them too much.
  • Indicator is much more stable for smaller intervals. Before, when you used a short interval (seconds or minutes), the script crashed almost immediately after the first few bars. Now it should work much better. However, it might still crash from time to time - that's when it's referencing points from the past that TradingView discards when new bars are added to the chart. If this happens, refresh the page or hide and show the indicator again (also, decrease the "Number of points to check" for better performance). If you are using 1H or a larger interval, you probably won't see this problem at all.
Release Notes: Version 1.2 Configurable retracement levels and displaying the retracement values

  • Added checkboxes to the options that allow you to disable any retracement level that you don't want to use.
  • The new "Show retracement levels?" option displays the retracement levels when a pattern is found. You can see the exact values of XAB, ABC, and other pattern legs displayed directly below the pattern name. The same information is also displayed when you hover your mouse cursor over the label with the pattern name (no matter if the "Show retracement levels?" option is enabled or disable). This is useful when labels are hard to read because they are on top of each other.
  • Improved accessibility by adding options to change the color of the labels and text. If you don't like (or don't see well) the default black text on a red (sell pattern) or green (buy pattern) background, you can change those colors.
  • Updated default of "Depth of a zigzag pattern" from 6 to 10 (it's a better default value for any interval).
Protected script
This script is published closed-source and you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
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You can find more information about our scripts at https://www.patternshunters.com/