A very good tool for those who are learning Harmonic Patterns. Makes use of Tradingview's interactive input feature which lets the user select the pivots manually and the indicator will highlight if there are any harmonic patterns in the price action. Makes use of the same libraries as our premium Harmonic Pattern indicators.
Link to the Indicator: Manual or Interactive Harmonic Pattern
Abstract - what is Interactive Harmonic Pattern?
Interactive input is a Tradingview and Pinescript feature where a programmable indicator lets the user choose the time and price data on the map interactively. Manual or Interactive Harmonic Pattern makes use of this feature and allows users to choose pivots manually on the chart and then scans for patterns within these points.
Process - How to work with Interactive Harmonic Patterns?
This script is a drawing tool that allows users to draw XABCD on the chart and the script will tell whether there are any harmonic patterns on the drawings made. The script is based on interactive inputs and requires users to choose XABCD points.
- This is not a scanner and it will not scan historical bars for harmonic patterns. This needs to be used rather as a drawing tool instead.
- Script will not check if selected pivots are correct. It assumes users know how to select the right XABCD based on pivot highs/lows. The bullish pattern will have X, B and D as pivot lows and A, and C as pivot highs. Similarly bearish patterns will have X, B, and D as pivot highs and A, and C as pivot lows.
- Script will not check for overflow conditions. For example, if the price crosses, XB or BD line, then the pattern is considered to be invalid. But, this check cannot be made in this script and we require users to be aware of this condition and select input accordingly.
- Order of inputs should be in ascending order. X pivot should come before A and then, B, C, D and F. This is the user's responsibility to select pivots in the right order.
What happens after selecting XABCD?
If the selected pattern is a valid harmonic pattern, it will
- Draw XABCD lines and labels
- Fill harmonic triangles
- Show the PRZ box which shows the name of valid patterns.
If it is not a valid harmonic pattern, then users will see a blank XABCD line without any PRZ or filled harmonic triangles.
Here is a video tutorial explaining how to use Interactive Harmonic Patterns and Interactive Harmonic Projection Technical Indicators.
What patterns are covered in Interactive Harmonic Pattern Indicator?
Interactive Harmonic Pattern Indicator makes use of an open-source library to scan for patterns. These are the same libraries used in premium indicators
Hence, the indicator covers all the patterns which are included in the premium auto-scanning indicators.
- Classic Patterns
- Deep Crab
- Anti Patterns
- Anti Nenstar
- Anti Shark
- Anti Cypher
- Anti Crab
- Anti Butterfly
- Anti Bat
- Anti Gartley
- Non-Standard Patterns (Disabled by default)
- Three Drives
- White Swan
- Black Swan
- Sea Pony