Pattern Scanner is the automated tool to detect harmonic patterns. Here is very simple explanation on type of pattern detection algorithm
behind Harmonic Pattern Scanner. Not all the harmonic pattern detection algorithms are the same. In the past the main variations of
Harmonic pattern detection algorithms can be categorized as following four types.
1: Non lagging (fast signal) but repainting – option to enter from turning point. Indicator does not show the failed pattern in
chart and last pattern can repaint.
2: Lagging (slow signal) but non repainting – no option to enter at turning point (i.e. early signal). Indicator does not show the
failed pattern but last pattern does not repaint.
3: Detecting pattern at point C but repainting – option to enter at turning point. Indicator detect pattern too early and you have to wait
quite bit of time until price move near the point D. In fact, price may not move near point D. You might just waste your time waiting for the
pattern. Indicator does not show the failed pattern and last pattern can repaint.
4: Non lagging (fast signal) and non repainting – option to enter from turning point. At the same time, the pattern is not
repainting. This is hybrid of all above three system and can be considered as the most powerful harmonic pattern indicator.
Profitable Pattern Scanner (2019)
is our next generation profitable Pattern Detector. This is non-repainting and non-lagging Harmonic Pattern Scanner. On top of that, this
tool can detect Elliott Wave Pattern and X3 Patterns. As a bonus, this scanner can detect around 52 Japanese candlestick patterns for your
trading. This is the most advanced Harmonic and Elliott wave pattern detector in the market.
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