AMPmonitor - Most powerful pattern recognition indicator for MT4 platform which boasts of an advanced search engine, fully configurable patterns and built in confirmation methods provided by professional harmonic traders.
AMPMonitor has a unique layout that splits the patterns according to their maturity:
a.Emerging Patterns will identify and inform you about potentially forming patterns early enough before it actually forms. This is a huge advantage, giving you time to review the prospective trade, applying your own confirmation technics and qualify the opportunity.
b.Completed Patterns present patterns that have already met all defined price, time and other conditions.
c.Live Patterns show you how the market evolved since the completed pattern. Both successful and failed/invalidated patterns are displayed here.
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AMP indicator / AMPmonitor has functionality to present pattern in advance (so called emerging pattern). Emerging pattern is very useful. It allows a trader to prepare for the trade, apply his/her own confirmation techniques and decide if it's worth to trade the pattern.
From Emerging status pattern changes to Completed. This means all swings within the pattern meet the pattern criteria. This is the moment to execute the trade (if analysis performed by the trader says so).
Completed pattern can move into Running or Invalidated status. Running means that pattern is on the way to reach the Take Profit level (TP1 and/or TP2 are 2 default TP levels defined in AMPindicator / AMPmonitor). Invalidated status means that price hit the Stop Loss level.
Emerging pattern:
Completed pattern:
Running pattern:
Harmonic trading secret lies not in the pattern itself (its definition and relations between swings) but in the confirmations techniques used. Different methods can be used here. Our suggested list of methods (ones that we consider very useful) can be found on the TradingArsenal forum.
For Gartley confirmation methods check -> Gartley pattern - table of content
For Bat confirmation methods check -> Bat pattern - table of content
note1 that not all threads are populated at this time, but we keep on inserting the content regularly.
note2 that content for butterfly, crab and 121 pattern confirmations is planned but not ready yet.
Last edited by kor4x; 04-24-2012 at 10:06 PM.
In the previous post we said "Completed pattern can move into Running or Invalidated status". Definition and examples of Running patterns were provided there.
What are the invalidated (also called failed) patterns? These are the patterns that hit the StopLoss price level before reaching any of TakeProfit levels (TP1 or TP2).
Following examples present invalidated/failed patterns:
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Last edited by kor4x; 04-08-2012 at 01:00 AM.
AMPmonitor's functionality to present invalidated/failed patterns should not be undervalued. Looking how the patterns were failing in the history may give you really good ideas for improving your trading strategies. This may give you some ideas regarding placing the StopLoss. Damn, stopped by a pip or two.
Check out the Live Patterns column (the history), take the opportunity to learn from the Running and Invalidated patterns.
[QUOTE=kor4x;2269]In the previous post we said "Completed pattern can move into Running or Invalidated status". Definition and examples of Running patterns were provided there.
What are the invalidated (also called failed) patterns? These are the patterns that hit the StopLoss price level before reaching any of TakeProfit levels (TP1 or TP2).
Following examples present invalidated/failed patterns:
[/QUOte
Yes Harmonics take precedent< however check out all the flags on the "failed" patterns _ same with Supply and Demand. therr are many other factors
TradeMonster
@TradeMonster, can you explain in more words what you mean please. Thanks.
@duggils: not possible on the web (not sure via iPhone application), but we will park your request for the future.
Hello Kor.
From where I can download the AMP indicator?. Help me, thanks.