Harmonic Patterns Indicator for ThinkorSwim (ZigZag, Bat, Butterfly, ABCD)

K

Ken_Adams

New member
@Playstation

Haha, yea I was pretty excited to find them. Can’t wait to see how this forum adds to and betters them.

One thing I noticed is sometime it will paint several different patterns over each other. This can be seen if you notice more than one label over a pattern. For instance two “A.”

Also for the mobile version I turn off the “prz...” lines and turn on “target zones” and it looks good.
 
P

Playstation

Active member
VIP
Yep sometimes mobile does screw things up. hey thanks man for this free script.
I will observe if these truly don't repaint.
 
P

Playstation

Active member
VIP
Btw, the signals are too good to be true. Hence I suspect they repaint.
But this is natural since it will keep finding the points to complete the patterns.
 
tenacity11

tenacity11

Active member
2019 Donor
@Ken_Adams Thanks so much for this. I've traded patterns since working with Larry Pesavento in 1998. I used to use Ensign software which had them built in. I wish they had given codes for the 3 and 5 drives. Butterfly is my absolute favorite as you can tell by my pic. :)
 
W

wen

New member
@Ken_Adams I saw two clouds: 1. itarget zone( I turn it on) 2. show on the chat already . can u give me more information about that? thanks!
 
P

Playstation

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unfortunately, the patterns do repaint, and will adjust or disappear if price breaches a certain level that causes the patterns to not be accurate.
As expected, but hope you guys understand how harmonics work, don't use it blindly, but it's certainly extremely useful.
 
T

Trader Raider

Member
VIP
@wen, the target zones appear to be based on fib levels to indicate potential zones to consider taking some profits off the table.

@Ken_Adams, it looks like the PRZmax and PRZmin are designated limits of the Potential Reversal Zone. The max appears to be the area where if exceeded, the pattern may no longer be valid. The min looks to be the area where price must reach at minimum to complete a valid pattern. Of course I didn't write the code so I can't say for sure, but that's my impression after playing with it for a bit. THANK YOU for posting these codes!

@Playstation, agree this is very useful but must be considered with overall price action in view, not traded blindly.
 
M

mcdon030

Member
@Ken_Adams this some really good coding, but some of it looks familiar. This misses a few times, but it's not easy to rotate pivots into a perfect ZZ. thanks for the share.
 
J

joshua74133

Member
VIP
I don't really understand I changed the time to 1min and nothing works but if its listed as day it works fine but I don't see how it finds that pattern
 
M

mcdon030

Member
@Ken_Adams Thanks so much for this. I've traded patterns since working with Larry Pesavento in 1998. I used to use Ensign software which had them built in. I wish they had given codes for the 3 and 5 drives. Butterfly is my absolute favorite as you can tell by my pic. :)
Tenacity,
Copy and replace the code below for 3 drives. I modified it, but just take "-tol” and “+tol" out should you not find it useful. Depending on the script, 5 Drives is not needed as it is quite common for 3 drives to form into 5. This was my experience from back tests and input from professional pattern traders.

Additionally, the Cypher structure is below as another asked. Personally, Cypher and Crab require a lot less technical analysis so I get real interested when they occur on an hourly or daily chart.

Hope your focusing on trading failed patterns since 60% of all harmonic patterns fail :)

Code:
#McDon030 4/23/2020
#Larry Pes added tolerance for choppy markets - default is .04 and no more than .07 for choppy markets. Additions && notes are:
## order should be XAB,ABC,BCD,XAD and ABCD
## 3drives
def hf0 = 1.130-tol;  ##XAB1
def hf1 = 1.618+tol;  ##XAB2
def hf2 = 0.500-tol;  ##ABC1
def hf3 = 0.786+tol;  ##ABC2
def hf4 = 1.000;      ##ABCD1   #note: should be a second ABCD in PRZ as this is ABCD1 and ABCD2==1.27
def hf5 = 1.270-tol;  ##XAD1
def hf6 = 2.618+tol;  ##XAD2
def hf7 = 1.130-tol;  ##BCD1
def hf8 = 1.618+ tol; ##BCD2


## Cypher
def hf0 = 0.382-tol;  ##XAB1
def hf1 = 0.618+tol;  ##XAB2
def hf2 = 1.130-tol;  ##ABC1
def hf3 = 1.414+tol;  ##ABC2
def hf4 = 1.000;      ##ABCD1   #note: should be a second ABCD in PRZ as this is ABCD1 and ABCD2==1.27
def hf5 = 0.786-tol;  ##XAD1
def hf6 = 0.786+tol;  ##XAD2
def hf7 = 1.272-tol;  ##BCD1
def hf8 = 2.000+ tol; ##BCD2
:)

-Mcdon030
 
tenacity11

tenacity11

Active member
2019 Donor
@mcdon030 Greatly appreciated and yes on pattern failure.
 
J

joshua74133

Member
VIP
so for what ever reason its not letting me just plot ABCD can someone help me with this?
 
S

SparkyFlary

Member
Is there a way to get this to work but for moving averages used in indicators such as RSI?
 
E

ezrollin

Member
I have 2 harmonics indicators and I can certainly draw my own harmonics patterns but I have no way to scan for them.
The script is too long and complex to be put into a scan.
It would really help to have a way to scan for them!
I know this is asking way too much.
Thanks
 
S

SparkyFlary

Member
What is the purpose of the higher time frame part on the code? What does it do?
 
V

venkat

New member
not that I am an Elliot expert, but according to most stuff I read your waiting until the 4th and 5th wave. so called smart traders wait until the 5th. without all the cycles built in, the concept of trading Elliott waves is extremely difficult. Even the TOS scripts which promote themselves as "Elliott" only have one cycle. Seems counter productive not to include mono cycles. I've added a few more "Elliott" type stuff and other patterns I mess with as I wanted to share with all the scripters which helped me, but I would have a health skepticism with it as it requires a better script. https://tos.mx/056xjyp

side note: if you really want wave 3, ill add it.
EW wave3 are very important as they gives those massive moves.... Please see if you can add Wave3
 
J007RMC

J007RMC

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2019 Donor
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@BenTen I am wondering if it's possible to add price change labels ant the bottoms and tops?
 

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