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Thread: Different Confirmation Techniques for Harmonic Patterns

  1. #31
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    In the past have found the Fourier indi somewhere and recoded it, added my own way for cycles recognition. I am not sharing this one.

  2. #32
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    Quote Originally Posted by kor4x View Post
    In the past have found the Fourier indi somewhere and recoded it, added my own way for cycles recognition. I am not sharing this one.
    Cycle indicators are really powerfull if you can find one that works. Yours looks good :-).

  3. #33
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    Agreed! very good confirmation technique.

  4. #34
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    Quote Originally Posted by kor4x View Post
    Agreed! very good confirmation technique.
    I find that I stoch with a trix to be pretty good but am looking for something better.

  5. #35
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    Quote Originally Posted by Admin View Post
    Candle Volume Analysis

    Volume is an important aspect in Technical Analysis as it can be used to confirm price patterns / harmonic patterns.


    Attachment 7
    How have you found this confirmation methods with harmonic patterns on a range of time frames?

  6. #36
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    Quote Originally Posted by kor4x View Post
    Best trades are always confirmed by multiple different trading methods.
    Interesting, there is even couple more methods pointing to the same possible truning point.
    This time worked well !
    Attachment 1397

    FOREX Harmonic Trading: best trades are CONFIRMED by mutliple methods
    This is a great diagram to illustrate a series of confirmation methods.
    What MACD indicator do you use for divergence and with what settings?

  7. #37
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    any MACD indicator will be good enough. Default settings are fine for me.

  8. #38
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    Quote Originally Posted by kor4x View Post
    any MACD indicator will be good enough. Default settings are fine for me.
    In that case I think have a MACD indicator that draws divergence on the chart.
    Let me know if you are interested and I will post it in the indicator section.

  9. #39
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    sure, create a proper thread in the Indicators section and post it there. It may be useful for some people. thanks.

  10. #40
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    Quote Originally Posted by Samtastico View Post
    This is a great diagram to illustrate a series of confirmation methods.
    What MACD indicator do you use for divergence and with what settings?
    Hi Samtastico,
    Just saw your request for divergence indicator information. I find the RSI is very good, but the secret is to use two of them in the same indicator window. Set one to high and the other to low, both period of 4, and give them different colours.

    Use the low RSI to look for bullish divergence (where you are looking at the price lows and a potential long trade) and the RSI high for looking at price highs divergence for a potential short trade.

    This allows you to spot many more instances of divergence than just one RSI set to close.


    Mike
    kor4x and Samtastico like this.

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