HARMONIC TRADING TOOLSOVERVIEW

analyze and validate harmonic patterns, differently
Harmonic Patterns trading tools flow within TradingSpine's forex trading toolkit

A TOTAL OF 10 HARMONIC TOOLS

The 10 harmonic patterns trading tools categorized

The harmonic tools covers 3 main functions:

  1. Validating major and custom patterns
  2. Providing proactive rates for ongoing patterns
  3. Analyzing a price path from harmonic perspective

They are directly connected to trading management tools, thus a harmonic pattern can be instantly sized according to the active checkpoint's thresholds.

THE CONS BEFORE THE PROS

cons, really ?

We think that cons is a very strong word to use but it had to be said to alert forex traders seeking ready to trade harmonic patterns, and this toolset is definitely not going to provide that since one of the core values we maintain in the toolkit is to never generate a trade setup on your behalf, the harmonic tools are no exception.

All the tools are off-chart, they don't know your trading platform or trading conditions or even the pair being traded. The tools operate using swing rates defined manually, not much of a user friendly method but our goal was to provide a very precise and versatile harmonic toolkit, and more importantly enable you to be ahead of the market by having proactive data for the patterns spotted. These goals and a few more "perks" discussed below below, were not possible to achieve using any other method but the "manual" one.

NOW THE PROS!

trade them manually, enjoy the "perks"
Harmonic patterns trading tools pros - precise & smart

PRECISE & SMART

Quality of validated patterns can be controlled by defining a maximum deviation percentage from a perfect pattern. That percentage is applied smartly to each individual Fibonacci relation included in the pattern, making sure that each of (point B, point C, and the PRZ) are only marked valid if they meet the acceptable deviation, analysis goes even deeper by calculating a precision value for each of them.

Harmonic patterns trading tools pros - proactive

PROACTIVE

The tools are activated as soon as a single swing is defined, possible rates and ranges for the next point (or the PRZ) are generated instantly so the user can either be ready to enter the market, or watch the price action at each phase of the pattern till deciding if the pattern is worth trading or not.

Harmonic patterns trading tools pros - simultaneous

SIMULTANEOUS

All the tools operate simultaneously using a single path, a watch window showing the status for all the patterns will keep the user informed with all the different harmonic patterns' status, eliminating the limitation of validating a single harmonic pattern type at a time. The question is no more "Is that a Gartley pattern or not?", the question becomes "Is that a harmonic pattern or not?".

Harmonic patterns trading tools pros - versatile

VERSATILE

By default, each tool validates using settings tailored specifically for the pattern validated by that tool. But we are not limiting the user's options in any way, each tool have its own settings that can be freely changed to meet the preferred validation method.

Harmonic patterns trading tools pros - detailed

DETAILED

All the tools will extract as much data as possible from the pattern being validated, and provide as much proactive data as possible based on the already validated data. Rates, ranges, precision, PRZ size and components, swing lengths, Fibonacci relations, stop loss and take profit, are all provided at the moment their calculation becomes possible.

Harmonic patterns trading tools pros - integrated

INTEGRATED

Tools with "take trade" functionality are seamlessly linked to "Custom Trade" tool so that a validated pattern can be directly sent to the trading tool in order to get sized according to the active money management rules, that trade will have a reference to the originating harmonic pattern so an accurate history is kept for all harmonic trading activites.

Harmonic patterns trading tools pros - visualized

VISUALIZED

Since all the tools are operating off-chart, they have charts of their own. Charts will plot all the Fibonacci relations, entry, targets and stop loss. The time spent entering the rates manually into the toolkit, will spare the user much more time that a manual trader usually spend on measuring and plotting relations on the chart to validate a single harmonic pattern type.

Harmonic patterns trading tools pros - save, reload, study

SAVE, RELOAD, STUDY

A pattern can be saved even if the user is not willing to trade it. With detailed history keeping for saved patterns and the ability to reload any saved pattern back into the originating tool, patterns can be easily studied and compared. As the "library" of saved pattern grows, the user will have much more data and patterns that can be studied to further enhance pattern trading performance and knowledge.

THE SPECIAL TOOLS

2 tools for studying and validating any custom 5-point harmonic move

FIBONACCI PATH

DISCOVER HARMONY IN ANY 5-POINT MOVE

In a nut shell, this tool can analyze any 5-point move with respect to 111 ratios representing 14 Fibonacci relations.

Fibonacci relations are everywhere on all charts and they are the core of all harmonic patterns! When a 5-point move don't validate as one of the common harmonic patterns, that doesn't mean the move don't contain Fibonacci harmony, it just means that harmony in the move isn't complying with any of the conditions for these "normal" patterns.

By using this tool, moves that didn't validate as a common pattern can be studied from a pure Fibonacci perspective. The tool will find Fibonacci relations between the 5-points and illustrate those relations while providing options to save the pattern in harmonic format.

Jump to tool
HARMONIC COMPLIANT
Fibonacci Path tool overview - Harmonic compliant

Designed with the common harmonic patterns' structure in mind, the tool can analyze and save any 5-point move in a harmonic structure that you choose freely, with a single relation for each of point B & point C, and a PRZ for the last point D containing a critical relation and two complementary ones.

SCANNED RELATIONS
Point B
  • XA retracement - from A (common)
  • XA projection - from A (exotic)
Point C
  • AB retracement - from B (common)
  • XA extension - from X (common)
  • XA retracement - from X (exotic)
  • AB projection - from B (exotic)
  • XA retracement - from A (exotic)
  • XA extension - from A (exotic)
Point D(PRZ)
  • XA retracement - from A (common)
  • XA extension - from A (common)
  • BC projection - from C (common)
  • 8 AB=CD patterns (common)
  • XC retracement - from C (common)
  • BC retracement - from C (exotic)

The tool analyzes a 5-point move with respect to 111 different ratios representing a total of 14 Fibonacci relations. These 14 relations contains the 8 most common relations used by the major harmonic patterns and 6 exotic relations.

2 CALCULATION ALGORITHMS
Fibonacci Path tool overview - 2 calculation algorithms

Choose from 2 different calculation algorithms to determine the best match for each of point B, point C and point D(PRZ). The first algorithm will favor relations with smaller percentage deviation, while the second algorithm favors relations with smaller pip distance deviation.

RELATION STRENGTH
Fibonacci Path tool overview - Relation strength

To ensure the tool is versatile when saving a path, the top three matches for each of point C and point D(PRZ) will be assigned strengths according to the calculation algorithm selected. You can choose any of the top 3 matches to be saved for point C, and choose which relation of the top 3 matches for the PRZ is to be saved as critical relation while the other two will be saved as complementary ones.

SAVING FORMAT

Any pattern analyzed by the tool can be saved in the common PRZ-based harmonic patterns, with a single relation for each of point B & point C, and three relations for the PRZ. Saved patterns can be reloaded back into the tool at any time.

CUSTOM HARMONIC

VALIDATE YOUR OWN HARMONIC PATTERN

Whether to validate a major harmonic pattern using fine-tuned conditions or to validate any custom pattern in mind, this tool can be configured to do the job.

It can be configured to use any combination of ratios available for the 14 Fibonacci relations to validate a 5-point move accordingly. Configuring the Fibonacci ratios (levels) for each relation, and choosing the critical relation & the complementary ones is an easy process performed using a user-friendly interface made specially for this tool.

The tool is fully featured with configurable relations, take profit targets and stop loss. Just like all the other tools in the toolset, trade setups found can be sent directly to "Custom Trade" trading tool.

It can be used to implement a validation process for trading patterns like 2618, fine-tuned versions of common harmonic patterns, or even harmonic versions of simple technical patterns like triangles.

It is fully compatible with the other special harmonic tool "Fibonacci Path", so that a validation conditions can be based on findings in the Fibonacci Path tool.

Jump to tool
VALIDATED RELATIONS
Point B
  • XA retracement - from A (common)
  • XA projection - from A (exotic)
Point C
  • AB retracement - from B (common)
  • XA extension - from X (common)
  • XA retracement - from X (exotic)
  • AB projection - from B (exotic)
  • XA retracement - from A (exotic)
  • XA extension - from A (exotic)
Point D(PRZ)
  • XA retracement - from A (common)
  • XA extension - from A (common)
  • BC projection - from C (common)
  • 8 AB=CD patterns (common)
  • XC retracement - from C (common)
  • BC retracement - from C (exotic)

The tool can be configured to validate patterns using any combination of the 14 Fibonacci relations available, with the ability to a choose a single ratio or a range of ratios for each relation chosen for a point.

Furthermore, the validation method for a range of ratios can be set to validate with respect to the whole range or just the ratios contained within that range.

VERSATILE
Custom harmonic pattern tool ovreview - Versatile

The condition sets that can be implemented using the tool are endless, enabling the user to construct a validation tool for fine-tuned versions of a common harmonic pattern, or validate known strategies/patterns that never had a tool to validate before, or simple patterns like triangles or double tops/bottoms, or even validate a totally new harmonic pattern.

For example, the pattern used to illustrate the tool in its in-depth page is based on the "2618" trading strategy, a very well known strategy that can be concluded using Fibonacci relations, thus can be validated using this tool.

EASY TO CONFIGURE
Custom harmonic pattern tool ovreview - Easy to configure

There are a lot of inputs needed to create a custom pattern validator, which can be very confusing and hard to understand. For that reason, we made a standalone tool specifically for this tool that will handle the process of creating custom conditions to be validated.

The process will be completed chronologically and interactively for each of point B, point C, PRZ, stop loss, and finally the targets. Please check how to setup this tool in its in-depth page.

INTEGRATED
Custom harmonic pattern tool ovreview - Integrated

Just like all the other harmonic trading tools, this tool is fully capable of sending trade setups to "Custom Trade" trading tool, and capable of saving patterns in harmonic format with detailed pattern data.

THE STANDARD TOOLS

proactive data & validation for 8 major harmonic patterns

AB=CD

harmonic pattern validator

This tool validates any 4-points A-B-C-D move against 8 AB=CD patterns (1 Equivalent, 4 Alternates, and 3 Extremes).

  • Validated patterns:
    • Equivalent AB=CD ( 100.0% ) view
    • Alternate AB=CD ( 112.9%, 127.2%, 141.4%, and 161.8% ) view
    • Extreme AB=CD ( 200.0%, 224.2%, and 261.8%) view

The tool provides ideal rates of Points/PRZ for all 8 patterns, and the acceptable validation range around each of them according to the deviation value entered. The primary goal of the tool is to provide another layer of analysis to the major harmonic patterns that contain AB=CD as a complementary relation by breaking down that relation down to its own components.

Please note that both the AB=CD & Fibonacci Path tools are designed for guidance and studying purpose, thus they don't have "take trade" functionality.

Jump to tool

GARTLEY

harmonic pattern validator

This tool validates any given 5-point move with respect to the common Gartley pattern conditions by default. Settings available covers validation method, take profit levels, and stop loss safety.

  • Default validation conditions: view
    • Point B: 61.8% XA retracement - from A
    • Point C: (38.2%, 50.0%, 61.8%, 78.6%, or 88.6%) AB retracement - from B
    • PRZ components: (78.6% XA retracement - from A, complementing AB=CD & BC projection - from C )
    • Take profit: (38.2% & 61.8%) CD retracement - from D
    • Stop loss: rate of point X (100% XA retracement - from A)

The tool provides proactive rates for each of (point B, point C, and the PRZ) as the pattern is progressing. Trade setups can be sent to the "Custom Trade" tool to get sized according to the active money management rules at the time.

  • Available pattern settings:
    • C validation: (Fibonacci levels only) or (Whole Fibonacci range)
    • Take profit: (38.2% & 61.8% CD retracements) or (61.8% & 100.0% CD retracements) or (38.2% & 61.8% AD retracements)
    • Stop loss safety: specified in (% of XA) or (pips)
Jump to tool

BUTTERFLY

harmonic pattern validator

This tool validates any given 5-point move with respect to the common Butterfly pattern conditions by default. Settings available covers validation method, take profit levels, and stop loss safety.

  • Default validation conditions: view
    • Point B: 78.6% XA retracement - from A
    • Point C: (38.2%, 50.0%, 61.8%, 78.6%, or 88.6%) AB retracement - from B
    • PRZ components: (127.2% XA extension - from A, complementing AB=CD & BC projection - from C )
    • Take profit: (38.2% & 61.8%) CD retracement - from D
    • Stop loss: 141.4% XA extension - from A

The tool provides proactive rates for each of (point B, point C, and the PRZ) as the pattern is progressing. Trade setups can be sent to the "Custom Trade" tool to get sized according to the active money management rules at the time.

  • Available pattern settings:
    • C validation: (Fibonacci levels only) or (Whole Fibonacci range)
    • Take profit: (38.2% & 61.8% CD retracements) or (61.8% & 100.0% CD retracements) or (38.2% & 61.8% AD retracements)
    • Stop loss safety: specified in (% of XA) or (pips)
Jump to tool

BAT

harmonic pattern validator

This tool validates any given 5-point move with respect to the common Bat pattern conditions by default. Settings available covers validation method, take profit levels, and stop loss safety.

  • Default validation conditions: view
    • Point B: 50.0% XA retracement - from A
    • Point C: (38.2%, 50.0%, 61.8%, 78.6%, or 88.6%) AB retracement - from B
    • PRZ components: (88.6% XA retracement - from A, complementing AB=CD & BC projection - from C )
    • Take profit: (38.2% & 61.8%) CD retracement - from D
    • Stop loss: rate of point X (100% XA retracement - from A)

The tool provides proactive rates for each of (point B, point C, and the PRZ) as the pattern is progressing. Trade setups can be sent to the "Custom Trade" tool to get sized according to the active money management rules at the time.

  • Available pattern settings:
    • C validation: (Fibonacci levels only) or (Whole Fibonacci range)
    • Take profit: (38.2% & 61.8% CD retracements) or (61.8% & 100.0% CD retracements) or (38.2% & 61.8% AD retracements)
    • Stop loss safety: specified in (% of XA) or (pips)
Jump to tool

ALTERNATE BAT

harmonic pattern validator

This tool validates any given 5-point move with respect to the common Alternat Bat pattern conditions by default. Settings available covers validation method, take profit levels, and stop loss safety.

  • Default validation conditions: view
    • Point B: 38.2% XA retracement - from A
    • Point C: (38.2%, 50.0%, 61.8%, 78.6%, or 88.6%) AB retracement - from B
    • PRZ components: (112.9% XA extension - from A, complementing AB=CD & BC projection - from C )
    • Take profit: (38.2% & 61.8%) CD retracement - from D
    • Stop loss: 141.4% XA extension - from A

The tool provides proactive rates for each of (point B, point C, and the PRZ) as the pattern is progressing. Trade setups can be sent to the "Custom Trade" tool to get sized according to the active money management rules at the time.

  • Available pattern settings:
    • C validation: (Fibonacci levels only) or (Whole Fibonacci range)
    • Take profit: (38.2% & 61.8% CD retracements) or (61.8% & 100.0% CD retracements) or (38.2% & 61.8% AD retracements)
    • Stop loss safety: specified in (% of XA) or (pips)
Jump to tool

CRAB

harmonic pattern validator

This tool validates any given 5-point move with respect to the common Crab pattern conditions by default. Settings available covers validation method, take profit levels, and stop loss safety.

  • Default validation conditions: view
    • Point B: (50.0% or 61.8%) XA retracement - from A
    • Point C: (38.2%, 50.0%, 61.8%, 78.6%, or 88.6%) AB retracement - from B
    • PRZ components: (161.8% XA extension - from A, complementing AB=CD & BC projection - from C )
    • Take profit: (38.2% & 61.8%) CD retracement - from D
    • Stop loss: 200.0% XA extension - from A

The tool provides proactive rates for each of (point B, point C, and the PRZ) as the pattern is progressing. Trade setups can be sent to the "Custom Trade" tool to get sized according to the active money management rules at the time.

  • Available pattern settings:
    • B validation: (Fibonacci levels only) or (Whole Fibonacci range)
    • C validation: (Fibonacci levels only) or (Whole Fibonacci range)
    • Take profit: (38.2% & 61.8% CD retracements) or (61.8% & 100.0% CD retracements) or (38.2% & 61.8% AD retracements)
    • Stop loss safety: specified in (% of XA) or (pips)
Jump to tool

DEEP CRAB

harmonic pattern validator

This tool validates any given 5-point move with respect to the common Deep Crab pattern conditions by default. Settings available covers validation method, take profit levels, and stop loss safety.

  • Default validation conditions: view
    • Point B: 88.6% XA retracement - from A
    • Point C: (38.2%, 50.0%, 61.8%, 78.6%, or 88.6%) AB retracement - from B
    • PRZ components: (161.8% XA extension - from A, complementing AB=CD & BC projection - from C )
    • Take profit: (38.2% & 61.8%) CD retracement - from D
    • Stop loss: 200.0% XA extension - from A

The tool provides proactive rates for each of (point B, point C, and the PRZ) as the pattern is progressing. Trade setups can be sent to the "Custom Trade" tool to get sized according to the active money management rules at the time.

  • Available pattern settings:
    • C validation: (Fibonacci levels only) or (Whole Fibonacci range)
    • Take profit: (38.2% & 61.8% CD retracements) or (61.8% & 100.0% CD retracements) or (38.2% & 61.8% AD retracements)
    • Stop loss safety: specified in (% of XA) or (pips)
Jump to tool

CYPHER

harmonic pattern validator

This tool validates any given 5-point move with respect to the common Deep Crab pattern conditions by default. Settings available covers validation method, take profit levels, and stop loss safety.

  • Default validation conditions: view
    • Point B: (38.2%, 50.0%, or 61.8%) XA retracement - from A
    • Point C: 127.2% XA extension - from X
    • PRZ components: 78.6% XC retracement - from C
    • Take profit: (38.2% & 61.8%) CD retracement - from D
    • Stop loss: rate of point X (100% XC retracement - from C)

The tool provides proactive rates for each of (point B, point C, and the PRZ) as the pattern is progressing. Trade setups can be sent to the "Custom Trade" tool to get sized according to the active money management rules at the time.

  • Available pattern settings:
    • B validation: (Fibonacci levels only) or (Whole Fibonacci range)
    • C validation: (127.2% XA extension - from X) or (range 127.2% to 141.4% XA extension - from X)
    • Take profit: (38.2% & 61.8% CD retracements) or (61.8% & 100.0% CD retracements)
    • Stop loss safety: specified in (% of XC) or (pips)
Jump to tool