Carney Existing Formations v.1.5

8 Apr 2022

A harmonic formation pattern scanner based on the Harmonic Trading book series by Scott Carney.

Supported harmonic traiding formations:

• Gartley
  
• ButterFly
  
• Bat
  
• alt. Bat
  
• Crab
  
• Greate Crab
  
• Shark
  
• AB=CD
  
• 5-0
  
• Cypher
  

Precise description and knowledge you can get from the Harmonic Trading book series by Scott Carney.
It's the oldest and not optimized version of harmonic formation scanner. Consider checking extensions more advanced versions:

*Carney Potencial Formations - Predicting potencial harmonic formation patterns with projection of the target points (Extension to this one with the same old scanner code).
*Extreme + XABCD - More advanced harmonic formation scanner that can detect both existing and potencial patterns. It provides also set of performence statistics for current stock.
*Waves + XABCD - Move advanced harmonic formation scanner optimized for the Wave theory. Provides performace statistics and short feature waves estimations to notify you about formations as soon as possible.

Script settings:

| SCANNER |
Formation checkbox - Activate/deactive formation detection
Last bars to search [bars] - How far in the fast we should look to check formations.
max points distance [bars] - How big patterns we are looking for.
Inaccuracy [‰] - How large deviations from the "ideal pattern" we accept
Filter duplicates - Limit to one instance of formation type per final bar
Confirmation: precision [‰] - Defines how high/low should be the extreme X points in compare to XA value, to be valid.
Confirmation: 3 bars - X should be the extreme in a 3 bar wide neighborhood.

| SHOW |
Line color and width - To customize chart for your preferences
Labels:
H - Hidden
S - Short
F - Full
Show result dialog - You can pick format of formations labels.

| EXTENSIONS |
Carney Potencial Formations - Showing base information about Carney Potencial Formations script
Extreme + XABCD - Showing base information about Extreme + XABCD script
Waves + XABCD - Showing base information about Waves + XABCD script

Troubleshooting:

Result dialog error "Abandoned at ...." - Change "max points distance" to smaller value.
TraidingView (! character):
Loop takes too long to execute (>500ms) - Change "max points distance" to smaller value.

In case of any problems, please contact the author of the script.