The PZ harmonic Trading indicator has been designed for traders of armed instruments looking for a first-class indicator and have indicators of additional indicators of "extravagant triangles"
A Brief introduction:
Harmonic trading is a methodology that uses the recognition of specific pricing patterns and the alignment of exact FIBONACCI rates to determine highly probable reversion points in financial markets. This methodology includes patterns or commercial cycles, such as many patterns and cycles in life, are repeated. The key is the identification of these patterns, and the entry or exit of a position based on a high degree of probability that the same historical action of the price occurs. Although these patterns are not 100% accurate, these situations have been historically proven. If these configurations are correctly identified, they may be worth significant opportunities at a very limited risk.
Commercial execution
Once a pattern is detected, the following steps should be taken, which can be carried out or discarded from the trade. Keep in mind that a pattern is not valid for itself and can be expanded as long as you want. His work has a arms operator that evaluates the validity of the employer and the possible investment zone before entering the market.
1. Pattern Recognition
This indicator automatically detects and alerts harmonic patterns.
2. Find the reverse potential zone (PRZ)
Evaluate the FIBONACCI projections plotted on the chart using the indicator and look for signs of strength. Can you find at least three converging projections? Do you see primary proportions? is the projection AB = CD present?
3. Wait until the sea PRZ rejected by the market
The PRZ can be tested and rejected by a single terminal price bar, or the market can reverse and break the PRZ without testing all FIBONACCI projections. In any case, the market has to move before taking the trade. You're a follower, not a predictor.
4. Enter the market offer of the right time stop
Change the rupture or rejection of the PRZ and set the appropriate stop-loss. The price level furthest from the PRZ or point X of the pattern are adequate stop-loss levels.
5. Position Management
It is recommended to get partial benefits as soon as possible to ensure a free trip. Scott M. Carney proposes a very interesting position management system based on a Stop trailing 0382, measured from the point of investment to the end of investment.
PZHarmonicTrading. ex4
PZHarmonicTrading. TPL
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Hello is this harmonic scanner tide with a account?
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