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Thread: Different Confirmation Techniques for Harmonic Patterns

  1. #61
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    Hi Sam,

    Ok, thanks for posting the two RSI indis anyway. I think I'll go back to eyeballing the two RSI manually. What's the 'Trix' you speak of?


    Mike

  2. #62
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    Quote Originally Posted by blott View Post
    Hi Sam,

    Ok, thanks for posting the two RSI indis anyway. I think I'll go back to eyeballing the two RSI manually. What's the 'Trix' you speak of?


    Mike
    I will post a little more about it once it has been tested a little more.

  3. #63
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    Ok Sam.

    Re two RSI indis - I think it works better if Fixed Max & Fixed min are unticked, otherwise the max/mins are constrained to certain limits.


    Mike

  4. #64
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    Quote Originally Posted by Samtastico View Post
    I will post a little more about it once it has been tested a little more.
    So I have managed to look over another indicator for divergence and the TRIX seems great use with Sams SupDem Zones and Harmonic Patterns etc.

    Here is a screenshot...
    You will see that each time it enters and Supply and Demand Zone and a Harmonic Pattern completes divergence is shown and a nice move follows.
    Sometimes you don't need to wait for a pattern but I would advise you do and work only within the supply and demand zones.

    Hope to hear your thoughts.


    Different Confirmation Techniques for Harmonic Patterns-untitled-31.jpg


    Samtastico

  5. #65
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    hi Samtastico, we were looking for people that want to work to define the proper SupDem indicator. Probably you use the II_SupDem and this is not really what Sam Seiden teaches.
    you can check on this project idea here: Supply/Demand indicator based on Sam Seiden's Rules

    and more on SupDem indicators here -> supply demand indicator

    harmonic+supdem+divergence is very powerful, agree!

  6. #66
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    Quote Originally Posted by kor4x View Post
    hi Samtastico, we were looking for people that want to work to define the proper SupDem indicator. Probably you use the II_SupDem and this is not really what Sam Seiden teaches.
    you can check on this project idea here: Supply/Demand indicator based on Sam Seiden's Rules

    and more on SupDem indicators here -> supply demand indicator

    harmonic+supdem+divergence is very powerful, agree!
    This is where I got my indicator from ( Trading Arsenal )
    I am not much of a programmer but I will take a look. :-)

  7. #67
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    Could you post the TRIX you are using here? Thank you

  8. #68
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    Quote Originally Posted by dakiki View Post
    Could you post the TRIX you are using here? Thank you
    I will do soon. I am just trying to fix email and alarm alerts when divergence is spotted.
    dakiki likes this.

  9. #69
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    Volume as confirmation.

    I have started to use the better volume indicator along with other methods to confirm a likely reversal in price.
    If you look at the chart you will see a large red spike on the volume indicator after piercing the TMG bands. The TRIX also confirms this move.
    I would usually take this move when it is within the major supply and demand zones and with a harmonic patter but this illustrates the point just fine.




    Different Confirmation Techniques for Harmonic Patterns-untitled-36.jpg



    Please do study a little more into volume before you use this indicator live.

    BetterVolume 1.4_TRO_MODIFIED_VERSION.mq4

    For those who were asking about the TRIX it is the standard THV4 trix that I am trying to fix the email notifications for but not quite got there yet.
    Here is the TRIX so far.

    THV3 Trix v4.01 Div.mq4

    Let me know your thoughts.

    Samtastico
    Last edited by Samtastico; 08-17-2012 at 10:56 AM.

  10. #70
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    Quote Originally Posted by Samtastico View Post
    I have started to use the better volume indicator along with other methods to confirm a likely reversal in price.
    If you look at the chart you will see a large red spike on the volume indicator after piercing the TMG bands. The TRIX also confirms this move.
    I would usually take this move when it is within the major supply and demand zones and with a harmonic patter but this illustrates the point just fine.




    Click image for larger version. 

Name:	Untitled 36.jpg 
Views:	234 
Size:	98.8 KB 
ID:	2078



    Please do study a little more into volume before you use this indicator live.

    BetterVolume 1.4_TRO_MODIFIED_VERSION.mq4

    For those who were asking about the TRIX it is the standard THV4 trix that I am trying to fix the email notifications for but not quite got there yet.
    Here is the TRIX so far.

    THV3 Trix v4.01 Div.mq4

    Let me know your thoughts.

    Samtastico

    Here are some additional instructions on how the Better Volume works....


    How to use the Better Volume Indicator

    Volume analysis takes time to learn and master as it is somewhat counterintuitive. The combination of volume and size and close of a bar is the key to analyzing it. Without relating one to the other leads to the wrong interpretation.

    Volume traders vow that volume analysis can help identify whether professionals are buying or selling. They keep an eye for unusually high volume and compare it to the background and the range and close of the bar.

    High Volume Method.
    Very large climatic volume indicates that larger than usual activity is present in the market. It can, therefore, help identify significant reversal points.

    Below is an example of an ultra high climatic volume bar and how it pretty much hinted that the weakness was over, at least temporarily. The volume created a significant reversal point and an area of support that stopped the subsequent fall. (The retest of the area is where you want to look to go long)

    The high volume or activity in that bar represented a high level of buy orders, due to price not moving lower afterwards. If the very high volume was all sell orders then the subsequent price action would have been an immediate push lower.

    Trader tips

    Your best opportunities come following ultra-high climatic volume, where reading the bar, previous and following bars will give you a clue of whats to come. Tom Williams denotes it as a learning a language.

    It is recommended to learn about price action, reading bars is the most important concept when it comes to volume analysis. This includes the size and close of the bar, compared to size volume.

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