Using ZZO flex statistic tokens for harmonic pattern detection
To access past data (rotation, price retracement, etc) for completed leg information, the easiest way is to use the flex statistics options of the ZigZag Oscillator tokens, as highlighted in this video :
For example, to get the “components” (i.e. tokens) needed to detect the AB=CD conditions harmonic pattern (and detect such a harmonic pattern whenever the pivot D is confirmed), the following ZZO tokens parameter provides the rotation in ticks of the past AB and CD legs
This way, a custom indicator with a syntax such as
100*ABS(ZZO_AB_TICK-ZZO_CD_TICK)/ZZO_CD_TICK
returns the %deviation between both AB and CD legs
Full Indicator syntax for a Bullish AB=CD harmonic pattern
For the other AB=CD harmonic pattern rules, one needs to add
Conditions around the ZZO flex statistic tokens corresponding to the BC and CD price retracement value (I also make sure AB retracement is above 100, i.e a trend is already in place). A C#2 margin is used to define the acceptable interval of both Fib Retracement ratios
a filter so that all conditions are tested whenever the pivot D is confirmed, ie whenever the overall ZZ retracement criteria is hit. For the bullish case, this bar can be detected with the signal ZZO_CFD_PRICE> ZZO_CFD_PRICE.1 with the ZZO tokens set up as the Confirmed Pivot Price. To cover both bullish and bearish case, one can use PNZ(CI) with the PNZ token returning the sign of the following Custom Indicator
Thanks, Eddy. I sort of get the first one. I am lost on the second one. Will wait for the chart definition.
Also, how would I go about creating a signal for the first one, when the two swing legs match within a tolerance?
To access past data (rotation, price retracement, etc) for completed leg information, the easiest way is to use the flex statistics options of the ZigZag Oscillator tokens, as highlighted in this video :
https://www.linnsoft.com/videos/zzo-flex-stats
For example, to get the “components” (i.e. tokens) needed to detect the AB=CD conditions harmonic pattern (and detect such a harmonic pattern whenever the pivot D is confirmed), the following ZZO tokens parameter provides the rotation in ticks of the past AB and CD legs
This way, a custom indicator with a syntax such as
100*ABS(ZZO_AB_TICK-ZZO_CD_TICK)/ZZO_CD_TICK
returns the %deviation between both AB and CD legs
For the other AB=CD harmonic pattern rules, one needs to add
(ZZO_CFD_PRICE<ZZO_CFD_PRICE.1)+(ZZO_CFD_PRICE>ZZO_CFD_PRICE.1)*(-1)
A full chart definition will be available shortly.
Thanks, Eddy. I sort of get the first one. I am lost on the second one. Will wait for the chart definition.
Also, how would I go about creating a signal for the first one, when the two swing legs match within a tolerance?