The Eurhythmic Patterns V11 indicator, is arguably the most complete harmonic price formation auto-recognition indicator, that you can find for the ProRealTime Platform, it detect 20 Harmonic patterns.
In technical analysis, Harmonic patterns are figures that are characterized by a particular configuration that adheres to certain percentage proportions derived from Fibonacci retracement levels.
By using harmonic patterns it is possible to find precise turning points where the market would change direction.
Eurhythmic patterns are formed on any timeframe and have a good chance of success. There are different types of harmonic patterns, our indicator detects 20 different ones as listed above.
Inspired by Mr. Scott M. Carney’s book -Harmonic Trading Vol. 1-, this indicator has been designed to fulfill the needs of the most purist and exigent traders.
This theory has been studied by several technical analysts, and the literature on the subject is enormous. If you don’t know the topic, we recommend this very interesting reading.
In Eurhythmic Patterns V11 we added different tools to help analysis of the user like:
Visualization of fibonacci retracement of XA-AB-BC-CD segments .
The “phantom pattern”, appear in real time on the last candle, when the XABC points have the configuration of an harmonic pattern.
Visualization of ABCD pattern of the Harmonic Pattern (improved)
Customization of Trasparencies of the objects
Unlike the Eurhythmic Patterns indicator for 10.3, which does not repaint, since the harmonics figures having values determined by the conditions of the retracements, we decided to make a version that repaintes, because it has positive aspects for this indicator, which you can see in the various videos, that are shown on this page, and on youtube.
This software was designed to find all those Harmonic patterns described by the various authors. Here’s how it works: