OPEN-SOURCE SCRIPT
Harmonic Pattern Detection [LuxAlgo]

Harmonic patterns make up a major part of the many patterns traders use to make investment decisions. The following tool aims to automatically categorize which XABCD harmonic pattern is highlighted by the user and to alert when the price reaches the PRZ or D point.
The tool can categorize Bat, Gartley, Butterfly, and Crab patterns.
Settings
The X, A, B, C, D settings determine the location of the harmonic pattern vertices. The user does not need to change them from the settings, instead only requiring adjusting their location on the chart like with a regular drawing tool. Setting these vertices is required when adding the indicator to your chart.
Usage

Upon setting the harmonic pattern vertices, the segments, as well as each ratio and PRZ, will be displayed. A dashboard in the top right displays which harmonic pattern has been detected.

Detected bearish crab pattern on BTCUSD15.

Bullish butterfly pattern on MATICUSD15. It is important not to use an XA precision value that would return overlapping ranges between the Gartley/Harmonic and other patterns. Using the default value is recommended.
The upper limit of the PRZ is determined as vertex D plus 38.2% of segment DX, while the lower limit is the vertex D minus 38.2% of segment DX. Various methods exist for the determination of the PRZ, this one is general but the user can use one proper to the detected harmonic pattern.
Finally hovering on the label highlighting the segment ratios return the proper ratio used by each harmonic pattern for that precise segment.
The tool can categorize Bat, Gartley, Butterfly, and Crab patterns.
Settings
- XA Precision: The Gartley and Butterfly patterns require precise ratios for the XA segment, this setting allows giving some headroom for the detection of these patterns. For example, the Gartley pattern requires a ratio for the XA segment of 0.618, using an XA precision of 0.01 will allow the segment to be considered correct if above 0.608 and under 0.628.
- Bullish: Color of a bullish pattern
- Bearish: Color of a bearish pattern
The X, A, B, C, D settings determine the location of the harmonic pattern vertices. The user does not need to change them from the settings, instead only requiring adjusting their location on the chart like with a regular drawing tool. Setting these vertices is required when adding the indicator to your chart.
Usage
Upon setting the harmonic pattern vertices, the segments, as well as each ratio and PRZ, will be displayed. A dashboard in the top right displays which harmonic pattern has been detected.
Detected bearish crab pattern on BTCUSD15.
Bullish butterfly pattern on MATICUSD15. It is important not to use an XA precision value that would return overlapping ranges between the Gartley/Harmonic and other patterns. Using the default value is recommended.
The upper limit of the PRZ is determined as vertex D plus 38.2% of segment DX, while the lower limit is the vertex D minus 38.2% of segment DX. Various methods exist for the determination of the PRZ, this one is general but the user can use one proper to the detected harmonic pattern.
Finally hovering on the label highlighting the segment ratios return the proper ratio used by each harmonic pattern for that precise segment.
Nota Keluaran
Minor changes.Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
Get access to our exclusive tools: luxalgo.com
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat sebenar TradingView, pencipta skrip ini telah menjadikannya sumber terbuka supaya pedagang dapat menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupun anda boleh menggunakannya secara percuma, ingat bahawa menerbitkan semula kod ini adalah tertakluk kepada Peraturan Dalaman kami.
Get access to our exclusive tools: luxalgo.com
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Join our 150k+ community: discord.gg/lux
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.