Disliked{quote} Thanks for the prompt reply but this is not a SHS pattern, In this case one leg has to be longer than the other (signifying a break of structure in a particular direction)Ignored
You could use one of the available Harmonic Patterns indicators.
I think they also call this version the Quasimodo pattern.
BTW. No indicator can actually recognise these patterns perfectly.
And, this strategy is nothing new. I know people who only trade this pattern. They plot a grid of pending stop orders. And they use money stop loss.
It's either the whole grid reaches TP, or Stop Loss on money. No excuses. The idea is is based on the assumption that TP pays for all the losses multiple times. I have watched personally, live as one of such traders did not close 4000 Euro profit because the price didn't reach TP which was at 6000 Euro profit, and got SL -300 Euro.
https://indicatorspot.com/indicator/...odo-indicator/
Attached File(s)
FIGHTForex_Quasimodo_Zone_EA_V1.ex4
15 KB
|
203 downloads
ZigZag_XABCD_Indicator.ex4
21 KB
|
233 downloads
Quasimodo.zip
< 1 KB
|
251 downloads
Quasimodo-MT4.zip
< 1 KB
|
274 downloads
If you're looking for the Holy Grail indicator - STOP!
2