Harmonic Pattern Scanner – Trading Systems – 14 June 2021

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Harmonic Scheme Scanner is the automatic tool for detecting harmonic schemes. Here is a very simple explanation of a kind of pattern detection algorithm behind Harmonic Scan Scanner. Not all harmonic pattern detection algorithms are the same. In the past the main variants of Harmonic pattern detection algorithms can be classified as following four types.

Type 1: No delay (fast signal) but repainting – option to enter from a turning point. An indicator does not show the failed pattern in a chart and a last pattern can be repainted.

Type 2: Late (slow signal) but not repainted – no possibility to enter at turning point (i.e. early signal). Indicator does not show the failed pattern but last pattern does not repaint.

Type 3: Detecting pattern at point C but repainting – option to enter at turning point. An indicator detects a pattern too early and you have to wait a while until a price moves close to point D. In fact, price may not move close to point D. You may just be wasting your time waiting for the pattern. Indicator does not show the failed pattern and last pattern can be repainted.

Type 4: No delay (fast signal) and no repainting – option to enter from a turning point. At the same time the template is not repainted. This is a hybrid of all over three system and can be considered as the most powerful harmonic pattern indicator.

List of Harmonic Scheme Scanner available on the MetaTrader platform

1. Harmony Scheme Plus (2014)

Harmonious pattern plus is an extremely good product for the price. It is the Type 1 Harmonic Scanner Scanner as explained above. With dozens of powerful features including Pattern Complete Interval, Possible Reversal Zone, Possible Continuation Zone, Automatic Suspension and Loss of Profit.

https://www.mql5.com/en/market/product/4488

https://www.mql5.com/en/market/product/4475

https://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

2. Harmonic Scheme Planner (2014)

Harmonic Scheme Planner is also the Type 1 Harmonic Scheme Scanner as explained above. With additional features to predict future harmonic patterns, this is a highly tactical harmonic pattern scanner with an advanced simulation capability in addition to the powerful features of a harmonic pattern plus.

https://www.mql5.com/en/market/product/6101

https://www.mql5.com/en/market/product/6240

https://algotrading-investment.com/portfolio-item/harmonic-pattern-scenario-planner/

3. X3 Diagram Scanner (2019)

This is our next generation of Harmony Pattern Detector. This is a non-repainting and non-late Harmonic Pattern Scanner as explained above. Therefore, this is the Type 4 Harmony Scheme Scanner. In addition to this, this tool can detect Elliott Wave Pattern and X3 Price Patterns. As a bonus, this scanner can detect about 52 Japanese candelabra for your business. This is the most advanced harmonic and Elliott wave detector on the market.

https://algotrading-investment.com/portfolio-item/profitable-pattern-scanner/

https://www.mql5.com/en/market/product/41992

https://www.mql5.com/en/market/product/41993

harmonic pattern detection indicator MT4 3

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