Butterfly/Gartley/Crabs/Bats Patterns Indicator

Created at 01 Aug 2013
JS

jsTrader

Joined 01.07.2013

Status

Closed


Budget

80.00 EUR


Payment Method

via  Freelancer

Job Description

All patterns are formed by five points starting with point X followed by points A B C D.
Bearish patterns have the shape of a W and Bullish patterns the shape of an M


Pattern Structures

Gartley:

harmonic forex patterns gartley
The Gartley is a Retracement pattern. That means the X point has some significance.
Namely, the X-point can be a significant Support/Resistance (Demand/Supply) level - and also the pattern is invalidated if the D point exceeds the X point.
Must have an AB // CD pattern that converges in the same area as the .786 Fibonacci on the XA, and also the 1.27 or 1.618 BC
Pattern Symmetry - ideally the number of bars in the AB leg should be the same as the number of bars on the CD leg.
The B point retracement ideally at .618 of the XA leg.

Butterfly pattern

harmonic forex patterns butterfly
Must contain an AB // CD
B point must be a .786 Fibonacci extension of the XA leg
D point should ideally be a 1.27 Fibonacci extension of the XA leg (for an early reversal ) or a 1.618. Scott Carney maintains the most critical number is the 1.27 XA leg.
D point must not exceed the 2.618 extension of the XA leg.

Bat

harmonic forex patterns bat
A .886 XA retracement to the D point is necessary. The D point cannot exceed the X point - if it does, then the pattern is invalid.
Other Fibonacci levels should be closely grouped in tne PRZ
An extended AB//CD where the CD leg is 1.27 of the AB leg. Although, an AB//CD where AB and CD are the same length is acceptable, but is a minimum for the pattern to be valid.
Minimum 1.618 BC extension to the PRZ. Its preferable if the BC extension is 2.0. Could also be as much as 2.618.
The B point retracement must be less than .618 to be a valid pattern. e.g. B could be 0.5 or .382 retracement of the XA.

Crab

harmonic forex patterns crab
D point defined by a 1.618 Fibonacci extension of the XA
A deep BC Fibonacci extension between 2.24-3.618.
B point retracement to be .618 or less

 

Thanks.

Comments
VI
vito · 10 years ago

 

 

Basis - the known graph connected by "golden ratio".

What is the time on realization?