This is an expert adviser/robot that places orders based on harmonic patterns including Bat, Butterfly, Crab, Cypher, Gartley and Shark. Whenever a harmonic pattern is detected, the EA will place a buy or sell pending order according to the signal type.
The EA places pending orders on the initial recognition of the pattern and any repaints will result in deletion of the existing pending order and creating a new pending order. The pending orders will have an expiration time and therefore if the charts goes on the opposite direction, it may not cause any harm as the pending order will expire after the set time. In addition, we have unique algorithms built in to filter and identify the most potential harmonic patterns.
However, you also have the option the create OCO (once cancels other) pending orders on both sides. If you enable this option, then, even if the harmonic pattern does not work and the price continues in the same direction, you will still have a trade (provided PO activated before expiration time).
Harmonic patterns traded by this EA include:
- Gartley Pattern
- Butterfly Pattern
- Bat Pattern
- Crab Pattern
- Shark Pattern
- Cypher Pattern
1.Go to MT4>Options>Expert Advisors and tick “Allow webrequests for Listed url” and then add following urls:
2. Place EA file in the Experts folder of your MT4
3. Place template file in the Templates folder of your MT4
4. Place indicator files in Indicators folder in your MT4
5. Refresh/restart MT4
6. Load the the template file on any chart
7. Change the settings as you like (Default settings are fine to get started)
NB: Please load the EA when forex market is working if not some news filter settings may not get adjusted properly.
(NB: this video is based on an older version and current setup can be different from the initial versions)
|Product name||FRZ Harmonic Pattern EA|
|Time frames supported||15 Minute Chart|
|Recommended pairs||Any currency pair (Recommended: EURUSD/AUDUSD/USDJPY/USDNZD/USDCAD)|
|Suitable market sessions||Any|
|Risk assessment||Comparatively low risk as it does NOT use any risky strategies such as martingale, grids, hedging, averaging or arbitrage. Only one trade per chart at any given time with fixed lot size, TP & SL.|
|Recommended broker||Any broker (preferably ECN broker) with low spreads|
|Recommended min. deposit||Any amount; however lot size to be decided given the the deposit size.|
|License||Single purchase includes license for two (02) trading accounts (including 01 DEMO and 01 real account). You can submit your account numbers after purchase. Both accounts should be submitted at once after purchase. You can NOT change the account numbers afterwards. We offer no refunds or returns.|
|Support||Free installation support|
NB: EA may delete the past patterns on chart drawn by the indicator to avoid confusions
Setting 1 – This is the lot size, you can increase or decrease depending on your deposit size.
Setting 2 – This is the expiry time for pending orders; you can change this as necessary.
Setting 3 – This is the pending order distance from current price. Distance is defined as a multiplier of ATR (Average True Range). ATR pip distance can be different as per the market conditions.
Setting 4 – This is the stop loss; you can increase or decrease as necessary. Distance is defined as a multiplier of ATR (Average True Range). ATR pip distance can be different as per the market conditions.
Setting 5 – This is the take profit; you can increase or decrease as necessary. Distance is defined as a multiplier of ATR (Average True Range). ATR pip distance can be different as per the market conditions.
Setting 6 – You can pause EA after a losing trade. Here you can set the time in minutes.
Setting 7 & 8 – Here you can define the time period for the EA to work. You can change it as necessary.
Setting 9 – This is the break-even point. This is define as a % of the take profit defined earlier.
Setting 10 – Here you can select to place pending orders (PO) on both sides (one buy PO and one sell PO) which will be OCO (Once Cancels Other which means if one pending order is activated, then other pending order will be deleted) If you enable this option, then, even if the harmonic pattern does not work and the price continues in the same direction, you will still have a trade (provided PO activated before expiration time).
Back testing Results (News impacts may not work well in back testing without special tools and preparations)
Please note that past performance of any trading system is not necessarily indicative of future results. Full terms and conditions are given here