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Sri Lanka Equity Forum » Stock Market Charts & Graphs » Technical Analytics & Charts (1)

Technical Analytics & Charts (1)

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1 Technical Analytics & Charts (1) on Wed Mar 14, 2012 8:42 am

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
First topic message reminder :

In this lesson, we'll be looking at harmonic price patterns. These bad boys may be a little harder to grasp but once you spot these setups, it can lead to some very nice profits!

The whole idea of these patterns is that they help people spot possible retracements of recent trends. In fact, we'll make use of other tools we've already covered - the Fibonacci retracement and extensions!

Combining these wonderful tools to spot these harmonic patterns, we'll be able to distinguish possible areas for a continuation of the overall trend.

In this lesson, we're going to discuss the following Harmonic Price Patterns:
ABCD Pattern
Three-Drive Pattern
Gartley Pattern
Crab Pattern
Bat Pattern
Butterfly Pattern
Phew! That's quite a lot to cover!

But don't you worry... Once you get the hang of things, it'll be as easy as 1-2-3! We'll start off with the more basic ABCD and three-drive patterns before moving on to Gartley and the animals.

After learning about them, we'll take a look at the tools you need in order to trade these patterns successfully.

For all these harmonic patterns, the point is to wait for the entire pattern to complete before taking any short or long trades. You'll see what we're talking about later on so let's get started!



source:baby pips  Very Happy


41 Re: Technical Analytics & Charts (1) on Fri Mar 16, 2012 8:23 am

K.Haputantri


Co-Admin
Thank you TAH for the quick response. I think, I have not made myself clear in the second issue raised. In fact, I have confused you asking the wrong question. The lenght of those dotted arrows at the end of in your ABCD charts are irrelavent as they mearly give Sell/Buy signals. Kindly correct me if I am wrong.

Actually, my quarry relates to the red arrow Up/down pointing Target Zones in your charts of 14th instant on Swarnamahal, Dial & OGL. It appears they are drawn manually. As you are aware, manual work can be arbitrary some times. Hence, ?Can you help in the correct method of identifying the target zone with any guide lines etc.

42 Re: Technical Analytics & Charts (1) on Fri Mar 16, 2012 8:30 am

traderathome


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@K.Haputantri wrote:Thank you TAH for the quick response. I think, I have not made myself clear in the second issue raised. In fact, I have confused you asking the wrong question. The lenght of those dotted arrows at the end of in your ABCD charts are irrelavent as they mearly give Sell/Buy signals. Kindly correct me if I am wrong.

Actually, my quarry relates to the red arrow Up/down pointing Target Zones in your charts of 14th instant on Swarnamahal, Dial & OGL. It appears they are drawn manually. As you are aware, manual work can be arbitrary some times. Hence, ?Can you help in the correct method of identifying the target zone with any guide lines etc.
If you look at the initial posts from baby pips i put, can you see the BLUE arrow those are the levels but i prefer to keep 1 Fib level below the target to be safe. Laughing so that our targets will hit more often than not. Very Happy

43 Re: Technical Analytics & Charts (1) on Fri Mar 16, 2012 3:10 pm

K.Haputantri


Co-Admin
Thanks TAH for your valuable advise.

44 Re: Technical Analytics & Charts (1) on Sat Mar 17, 2012 10:59 pm

Kumar


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Thanks traderathome.
Good work and new strategy.

45 Re: Technical Analytics & Charts (1) on Sun Mar 18, 2012 9:50 pm

traderathome


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Here is my analysis for AHUN N, I will try to put my analysis once a week before monday morning.Please accept my advance apology in case i miss or delay in the future.

The Share price pattern is confirmed as a falling wedge. A Typical trend reversal pattern and known as a bullish pattern.

I have depicted possible price reversal zones with Resistance level, So trade with caution. Due to I see a bearish gartley pattern in the formation at PRZ1 and PRZ2 price action can form to be a bearish crab.


Happy Trading,


[You must be registered and logged in to see this image.]

Please do your due diligence and consult your stock broker and this is not a BUY/SELL or Hold advise.

46 Re: Technical Analytics & Charts (1) on Sun Mar 18, 2012 11:13 pm

smallville

avatar
Associate Director - Equity Analytics
Associate Director - Equity Analytics
TAH,

Thanks for the valuable effort.. If you look at most of the charts, they fall into falling wedges as I noticed but they keep fallin so finding a reversal point is a bit difficult.. Wink
Added to this ASI is nowhere signelling a reversal as last Friday high TO was due to several high calibre crossings.. not much of retail activities..

Therefore aprt from the trades we make, a point to consider is the crowd mentality at a greater extent.. A possible price action on a chart can get changed due to unfavourable news even...

Keep up the good work, I'm sure we can analyse few potential winners with gartley Wink

47 Re: Technical Analytics & Charts (1) on Sun Mar 18, 2012 11:20 pm

chamith

avatar
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Yes. AHUN shows a bearish W type gartley pattern.

As you can see bellow my program picked up a bullish M type gartley pattern. EAST, So you might wanna keep it under watch. But you know what they always say, This M is not like this m.

[You must be registered and logged in to see this image.]

Hey trader@home can you show how come AB=CD ?
HOw to measure it using Fibonacci ?

Thanks

48 Re: Technical Analytics & Charts (1) on Mon Mar 19, 2012 9:09 am

stumpy

avatar
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
Yeah
Falling Wedge is one of the hardest patterns to identify exact buy point!
Better to wait till pullback closes above the breakout's high!

49 Re: Technical Analytics & Charts (1) on Mon Mar 19, 2012 9:43 am

smallville

avatar
Associate Director - Equity Analytics
Associate Director - Equity Analytics
If anyone is interested, here's the HARMONIC PATTERN DETECTION AFL code for AmiBroker Wink This is what I used so far..


/* HARMONIC PATTERN DETECTION */



_SECTION_BEGIN("Price");
SetChartOptions(0,chartShowArrows|chartShowDates);
_N(Title = StrFormat("{{NAME}} - {{INTERVAL}} {{DATE}} Open %g, Hi %g, Lo %g, Close %g (%.1f%%) {{VALUES}}", O, H, L, C, SelectedValue( ROC( C, 1 ) ) ));
Plot( C, "Close", ParamColor("Color", colorBlack ), styleNoTitle | ParamStyle("Style") | GetPriceStyle() );
_SECTION_END();

_SECTION_BEGIN("Gartley");

GBmin = Param("Swing B Min.",0.55,0.3,1,0.01);
GBmax = Param("Swing B Max.",0.72,0.4,1,0.01);
GCmin = Param("Swing C Min.",0.38,0.3,1.27,0.01);
GCmax = Param("Swing C Max.",1.0,0.4,1.27,0.01);
GDmin = Param("Swing D Min.(XA)",0.55,0.3,1,0.01);
GDmax = Param("Swing D Max.(XA)",1.0,0.4,1.0,0.01);

_SECTION_END();

_SECTION_BEGIN("Bat");

BatBmin = Param("Swing B Min.",0.38,0.3,1,0.01);
BatBmax = Param("Swing B Max.",0.55,0.4,1,0.01);
BatCmin = Param("Swing C Min.",0.38,0.3,1.62,0.01);
BatCmax = Param("Swing C Max.",1.27,0.4,1.62,0.01);
BatDmin = Param("Swing D Min.(XA)",0.5,0.3,1,0.01);
BatDmax = Param("Swing D Max.(XA)",1.0,0.4,1.0,0.01);

_SECTION_END();

_SECTION_BEGIN("Butterfly");

BtBmin = Param("Swing B Min.",0.55,0.3,1,0.01);
BtBmax = Param("Swing B Max.",0.9,0.4,1,0.01);
BtCmin = Param("Swing C Min.",0.38,0.3,1.62,0.01);
BtCmax = Param("Swing C Max.",1.27,0.4,1.62,0.01);
BtDmin = Param("Swing D Min.(XA)",1,1,1.8,0.01);
BtDmax = Param("Swing D Max.(XA)",1.38,1,1.8,0.01);

_SECTION_END();

_SECTION_BEGIN("Crab");

CBmin = Param("Swing B Min.",0.38,0.3,1,0.01);
CBmax = Param("Swing B Max.",0.65,0.4,1,0.01);
CCmin = Param("Swing C Min.",0.38,0.3,1.62,0.01);
CCmax = Param("Swing C Max.",1.270,0.4,1.62,0.01);
CDmin = Param("Swing D Min.(XA)",1.25,1,1.8,0.01);
CDmax = Param("Swing D Max.(XA)",1.8,1,2,0.01);

_SECTION_END();

_SECTION_BEGIN("Patterns");

strength = Param("Strength",5,2,15,1);
bu = ParamToggle("Bullish Pattern","Off|On",1);
be = ParamToggle("Bearish Pattern","Off|On",1);

bi = Cum(1)-1;

function GetTop(bars)
{
Top = H == HHV(H,2*bars) AND Ref(HHV(H,bars),bars) < H;
Top = Top AND LastValue(bi)-ValueWhen(Top,bi) > bars;
return Top;
}

function GetValley(bars)
{
Valley = L == LLV(L,2*bars) AND Ref(LLV(L,bars),bars) > L;
Valley = Valley AND LastValue(bi)-ValueWhen(Valley,bi) > bars;
return Valley;
}


// Build fractals array

P1 = GetTop(strength);
V1 = GetValley(Strength);

P1 = IIf(P1,IIf(ValueWhen(P1,bi,2) < ValueWhen(V1,bi),P1,IIf(ValueWhen(P1,H,2) > H,False,P1)),P1);
//P1 = IIf(P1 AND ValueWhen(P1,bi,0) > bi,IIf(ValueWhen(P1,bi,0) < ValueWhen(V1,bi,0),IIf(ValueWhen(P1,H,0) >= H,False,P1),P1),P1);
P1 = IIf(P1 AND ValueWhen(P1,bi,0) > bi AND NOT(ValueWhen(V1,bi,0) > 0 AND ValueWhen(V1,bi,0)

V1 = IIf(V1,IIf(ValueWhen(V1,bi,2) < ValueWhen(P1,bi),V1,IIf(ValueWhen(V1,L,2)//V1 = IIf(V1 AND ValueWhen(V1,bi,0) > bi ,IIf(ValueWhen(V1,bi,0) < ValueWhen(P1,bi,0),IIf(ValueWhen(V1,L,0) <= L, False,V1),V1),V1);
V1 = IIf(V1 AND ValueWhen(V1,bi,0) > bi AND NOT(ValueWhen(P1,bi,0) > bi AND ValueWhen(P1,bi,0)=ValueWhen(V1,L,0),False,V1),V1);


P1H1 = ValueWhen(P1,H);
P1Bar1 = ValueWhen(P1,bi);
P1H2 = ValueWhen(P1,H,2);
P1Bar2 = ValueWhen(P1,bi,2);
V1L1 = ValueWhen(V1,L);
V1Bar1 = ValueWhen(V1,bi);
V1L2 = ValueWhen(V1,L,2);
V1Bar2 = ValueWhen(V1,bi,2);


//Bullish Patterns

PTvalid = (P1Bar1 > V1Bar1 AND V1Bar1 > P1Bar2 AND P1bar2 > V1Bar2) AND P1; // Peaks and troughs are in order

// 4 swings of developing Gartley/Bat etc.

BullGartley4 = PTvalid AND (P1H2-V1L1)/(P1H2-V1L2) > GBmin AND (P1H2-V1L1)/(P1H2-V1L2) < GBmax
AND (P1H1-V1L1)/(P1H2-V1L1) > GCMin AND (P1H1-V1L1)/(P1H2-V1L1) < GCMax;

BullBat4 = PTvalid AND (P1H2-V1L1)/(P1H2-V1L2) > BatBmin AND (P1H2-V1L1)/(P1H2-V1L2) < BatBmax
AND (P1H1-V1L1)/(P1H2-V1L1) > BatCMin AND (P1H1-V1L1)/(P1H2-V1L1) < BatCMax;

BullButterfly4 = PTvalid AND (P1H2-V1L1)/(P1H2-V1L2) > BtBmin AND (P1H2-V1L1)/(P1H2-V1L2) < BtBMax
AND (P1H1-V1L1)/(P1H2-V1L1) > BtCmin AND (P1H1-V1L1)/(P1H2-V1L1) < BtCmax;

BullCrab4 = PTvalid AND (P1H2-V1L1)/(P1H2-V1L2) >CBmin AND (P1H2-V1L1)/(P1H2-V1L2) < CBmax
AND (P1H1-V1L1)/(P1H2-V1L1) > CCmin AND (P1H1-V1L1)/(P1H2-V1L1) < CCmax;


// Bullish Gartley/Bat found. D retacement level is not evaluated

BullGartley = IIf(LowestSince(BullGartley4,L) < ValueWhen(BullGartley4,P1H2)-(ValueWhen(BullGartley4,P1H2)-ValueWhen(BullGartley4,V1L2))*GDmin AND
LowestSince(bullGartley4,L) > ValueWhen(BullGartley4,P1H2)-(ValueWhen(BullGartley4,P1H2)-ValueWhen(BullGartley4,V1L2))*GDmax AND
HighestSince(BullGartley4,H) <= ValueWhen(BullGartley4,P1H1 ) AND
LowestSince(bullGartley4,L)==L, True,False);
BullGartley = BullGartley AND LowestSince(BullGartley4,L) < ValueWhen(BullGartley4,V1L1);

BullBat = IIf(LowestSince(BullBat4,L) < ValueWhen(BullBat4,P1H2)-(ValueWhen(BullBat4,P1H2)-ValueWhen(BullBat4,V1L2))*BatDmin AND
LowestSince(BullBat4,L) > ValueWhen(BullBat4,P1H2)-(ValueWhen(BullBat4,P1H2)-ValueWhen(BullBat4,V1L2))*BatDmax AND
HighestSince(BullBat4,H) <= ValueWhen(BullBat4,P1H1 ) AND
LowestSince(BullBat4,L)==L, True,False);
BullBat = BullBat AND LowestSince(BullCrab4,L) < ValueWhen(BullCrab4,V1L1);


BullCrab = IIf(LowestSince(BullCrab4,L) < ValueWhen(BullCrab4,P1H2)-(ValueWhen(BullCrab4,P1H2)-ValueWhen(BullCrab4,V1L2))*CDmin AND
LowestSince(BullCrab4,L) > ValueWhen(BullCrab4,P1H2)-(ValueWhen(BullCrab4,P1H2)-ValueWhen(BullCrab4,V1L2))*CDmax AND
HighestSince(BullCrab4,H) <= ValueWhen(BullCrab4,P1H1 ) AND
LowestSince(bullGartley4,L)==L, True,False);
BullCrab = BullCrab AND LowestSince(BullCrab4,L) < ValueWhen(BullCrab4,V1L2);


BullButterfly = IIf(LowestSince(BullButterfly4,L) < ValueWhen(BullButterfly4,P1H2)-(ValueWhen(BullButterfly4,P1H2)-ValueWhen(BullButterfly4,V1L2))*BtDMin AND
LowestSince(BullButterfly4,L) > ValueWhen(BullButterfly4,P1H2)-(ValueWhen(BullButterfly4,P1H2)-ValueWhen(BullButterfly4,V1L2))*BtDmax AND
HighestSince(BullButterfly4,H) <= ValueWhen(BullButterfly4,P1H1 ) AND
LowestSince(bullButterfly4,L)==L, True,False);
BullButterfly = BullButterfly AND LowestSince(BullButterfly4,L) < ValueWhen(BullButterfly4,V1L2);



// to remove redumbdent lines

BullHar4 = BullGartley4 OR BullButterfly4 OR BullBat4 OR BullCrab4 ;
BullHar = BullGartley OR BullButterfly OR BullBat OR BullCrab ;

Point4 = IIf(BullHar,ValueWhen(BullHar4,bi),Null);
BullHar = IIf(BullHar, IIf(Point4 == ValueWhen(BullHar,point4,0) AND ValueWhen(BullHar,bi,0) > bi ,False,BullHar),BullHar);

X = ValueWhen(BullHar4,V1L2);
Xbar = ValueWhen(BullHar4,V1Bar2);
A = ValueWhen(BullHar4,P1H2);
Abar = ValueWhen(BullHar4,P1bar2);
B = ValueWhen(BullHar4,V1L1);
Bbar = ValueWhen(BullHar4,V1bar1);
C1 = ValueWhen(BullHar4,P1H1);
C1bar = ValueWhen(BullHar4,P1bar1);
D = ValueWhen(BullHar,L);
Dbar = ValueWhen(BullHar,bi);
ABdXA = (A-B)/(A-X);
BCdAB = (C1-B)/(A-B);
ADdXA = (A-D)/(A-X);
BCdCD = (C1-D)/(C1-B);

PlotPattern = Dbar > C1bar;
if(LastValue(PlotPattern) AND bu)
{
Plot( LineArray(LastValue(Xbar),LastValue(X),LastValue(Abar),LastValue(A)),"",colorBlue,styleThick);
Plot(LineArray(LastValue(Abar),LastValue(A),LastValue(Bbar),LastValue(B)),"",colorBlue,styleThick);
Plot(LineArray(LastValue(Bbar),LastValue(B),LastValue(C1bar),LastValue(C1)),"",colorBlue,styleThick);
Plot(LineArray(LastValue(C1bar),LastValue(C1),LastValue(Dbar),LastValue(D)),"",colorBlue,styleThick);
Plot(LineArray(LastValue(Xbar),LastValue(X),LastValue(Bbar),LastValue(B)),"",colorBlue,styleDashed);
Plot(LineArray(LastValue(Xbar),LastValue(X),LastValue(Abar),LastValue(A)),"",colorBlue,styleThick);
Plot(LineArray(LastValue(Abar),LastValue(A),LastValue(C1bar),LastValue(C1)),"",colorBlue,styleDashed);
Plot(LineArray(LastValue(Bbar),LastValue(B),LastValue(Dbar),LastValue(D)),"",colorBlue,styleDashed);
Plot(LineArray(LastValue(Xbar),LastValue(X),LastValue(Dbar),LastValue(D)),"",colorBlue,styleDashed);

PlotText(NumToStr(LastValue(ABdXA),1.2),(LastValue(Bbar)+LastValue(Xbar))/2,(LastValue(B)+LastValue(X))/2,colorBlue);
PlotText(NumToStr(LastValue(BCdAB),1.2),(LastValue(C1bar)+LastValue(Abar))/2,(LastValue(C1)+LastValue(A))/2,colorBlue);
PlotText(NumToStr(LastValue(ADdXA),1.2) ,(LastValue(Dbar)+LastValue(Xbar))/2,(LastValue(D)+LastValue(X))/2,colorBlue);
PlotText(NumToStr(LastValue(BCdCD),1.2),(LastValue(Bbar)+LastValue(Dbar))/2,(LastValue(B)+LastValue(D))/2,colorBlue);
}

// Bearish Patterns

PTvalid = (V1Bar1 > P1Bar1 AND P1Bar1 > V1Bar2 AND V1Bar2 > P1Bar2) AND V1;

// Swing 4

BearGartley4 = PTvalid AND (P1H1-V1L2)/(P1H2-V1L2) > GBmin AND (P1H1-V1L2)/(P1H2-V1L2) < GBmax AND
(P1H1-V1L1)/(P1H1-V1L2) > GCmin AND (P1H1-V1L1)/(P1H1-V1L2) < GCmax;

BearBat4 = PTvalid AND (P1H1-V1L2)/(P1H2-V1L2) > BatBmin AND (P1H1-V1L2)/(P1H2-V1L2) < BatBmax AND
(P1H1-V1L1)/(P1H1-V1L2) > BatCmin AND (P1H1-V1L1)/(P1H1-V1L2) < BatCmax;

BearButterfly4 = PTvalid AND (P1H1-V1L2)/(P1H2-V1L2) > BtBmin AND (P1H1-V1L2)/(P1H2-V1L2) < BtBmax AND
(P1H1-V1L1)/(P1H1-V1L2) > BtCmin AND (P1H1-V1L1)/(P1H1-V1L2) < BtCmax;

BearCrab4 = PTvalid AND (P1H1-V1L2)/(P1H2-V1L2) > CBmin AND (P1H1-V1L2)/(P1H2-V1L2) < CBmax AND
(P1H1-V1L1)/(P1H1-V1L2) > CCmin AND (P1H1-V1L1)/(P1H1-V1L2) < CCmax;

// Poin D

BearGartley = IIf(HighestSince(bearGartley4,H) > ValueWhen(BearGartley4,V1L2) + (ValueWhen(BearGartley4,P1H2) - ValueWhen(BearGartley4,V1L2))*GDmin AND
HighestSince(bearGartley4,H) < ValueWhen(BearGartley4,V1L2) + (ValueWhen(BearGartley4,P1H2) - ValueWhen(BearGartley4,V1L2))*GDMax AND
LowestSince(BearGartley4,L) >= ValueWhen(BearGartley4,V1L1 ) AND
HighestSince(BearGartley4,H) == H, True, False);
BearGartley = BearGartley AND HighestSince(BearGartley4,H) > ValueWhen(BearGartley4,P1H1);

BearBat = IIf((HighestSince(BearBat4,H) > ValueWhen(BearBat4,V1L2) + (ValueWhen(BearBat4,P1H2) - ValueWhen(BearBat4,V1L2))*BatDmin AND
HighestSince(BearBat4,H) < ValueWhen(BearBat4,V1L2) + (ValueWhen(BearBat4,P1H2) - ValueWhen(BearBat4,V1L2))*BatDMax AND
LowestSince(BearBat4,L) >= ValueWhen(BearBat4,V1L1 ) AND
HighestSince(BearBat4,H) == H), True, False);
BearBat = BearBat AND HighestSince(BearBat4,H) > ValueWhen(BearBat4,P1H1);

BearButterfly = IIf(HighestSince(BearButterfly4,H) > ValueWhen(BearButterfly4,V1L2) + (ValueWhen(BearButterfly4,P1H2) - ValueWhen(BearButterfly4,V1L2))*BtDmin AND
HighestSince(BearButterfly4,H) < ValueWhen(BearButterfly4,V1L2) + (ValueWhen(BearButterfly4,P1H2) - ValueWhen(BearButterfly4,V1L2))*BtDMax AND
LowestSince(BearButterfly4,L) >= ValueWhen(BearButterfly4,V1L1 ) AND
HighestSince(BearButterfly4,H) == H, True, False);
BearButterfly = BearButterfly AND HighestSince(BearButterfly4,H) > ValueWhen(BearButterfly4,P1H2);

BearCrab = IIf(HighestSince(BearCrab4,H) > ValueWhen(BearCrab4,V1L2) + (ValueWhen(BearCrab4,P1H2) - ValueWhen(BearCrab4,V1L2))*CDmin AND
HighestSince(BearCrab4,H) < ValueWhen(BearCrab4,V1L2) + (ValueWhen(BearCrab4,P1H2) - ValueWhen(BearCrab4,V1L2))*CDMax AND
LowestSince(BearCrab4,L) >= ValueWhen(BearCrab4,V1L1 ) AND
HighestSince(BearCrab4,H) == H, True, False);
BearCrab =BearCrab AND HighestSince(BearCrab4,H) > ValueWhen(BearCrab4,P1H2);


BearHar4 = BearGartley4 OR BearButterfly4 OR BearBat4 OR BearCrab4 ;
BearHar = BearGartley OR BearButterfly OR BearBat OR BearCrab ;

Point4 = IIf(BearHar,ValueWhen(BearHar4,bi),Null);
BearHar = IIf(BearHar, IIf(Point4 == ValueWhen(BearHar,point4,0) AND ValueWhen(BearHar,bi,0) > bi ,False,BearHar),BearHar);

X = ValueWhen(BearHar4,P1H2);
Xbar = ValueWhen(BearHar4,P1Bar2);
A = ValueWhen(BearHar4,V1L2);
Abar = ValueWhen( BearHar4,V1bar2);
B = ValueWhen(BearHar4,P1H1);
Bbar = ValueWhen(BearHar4,P1bar1);
C1 = ValueWhen(BearHar4,V1L1);
C1bar = ValueWhen(BearHar4,V1bar1);
D = ValueWhen(BearHar,H);
Dbar = ValueWhen(BearHar,bi);

ABdXA = (B-A)/(X-A);
BCdAB = (B-C1)/(B-A);
ADdXA = (D-A)/(X-A);
BCdCD = (D-C1)/(B-C1);

PlotPattern = Dbar > C1bar;

if(LastValue(Plotpattern) AND be)

{
Plot( LineArray(LastValue(Xbar),LastValue(X),LastValue(Abar),LastValue(A)),"",colorRed,styleThick);
Plot(LineArray(LastValue(Abar),LastValue(A),LastValue(Bbar),LastValue(B)),"",colorRed,styleThick);
Plot(LineArray(LastValue(Bbar),LastValue(B),LastValue(C1bar),LastValue(C1)),"",colorRed,styleThick);
Plot(LineArray(LastValue(C1bar),LastValue(C1),LastValue(Dbar),LastValue(D)),"",colorRed,styleThick);
Plot(LineArray(LastValue(Xbar),LastValue(X),LastValue(Bbar),LastValue(B)),"",colorRed,styleDashed);
Plot(LineArray(LastValue(Xbar),LastValue(X),LastValue(Abar),LastValue(A)),"",colorRed,styleThick);
Plot(LineArray(LastValue(Abar),LastValue(A),LastValue(C1bar),LastValue(C1)),"",colorRed,styleDashed);
Plot(LineArray(LastValue(Bbar),LastValue(B),LastValue(Dbar),LastValue(D)),"",colorRed,styleDashed);
Plot(LineArray(LastValue(Xbar),LastValue(X),LastValue(Dbar),LastValue(D)),"",colorRed,styleDashed);

PlotText(NumToStr(LastValue(ABdXA),1.2),(LastValue(Bbar)+LastValue(Xbar))/2,(LastValue(B)+LastValue(X))/2,colorRed);
PlotText(NumToStr(LastValue(BCdAB),1.2),(LastValue(C1bar)+LastValue(Abar))/2,(LastValue(C1)+LastValue(A))/2,colorRed);
PlotText(NumToStr(LastValue(BCdCD),1.2) ,(LastValue(Dbar)+LastValue(Bbar))/2,(LastValue(D)+LastValue(B))/2,colorRed);
PlotText(NumToStr(LastValue(ADdXA),1.2) ,(LastValue(Dbar)+LastValue(Xbar))/2,(LastValue(D)+LastValue(X))/2,colorRed);

}

LatPattern = bullHar OR bearHar;
Lastpattern = LastValue(ValueWhen(LatPattern,IIf(BullGartley,1,IIf(BearGartley,-1,IIf(BullBat,2,IIf(BearBat,-2,
IIf(BullButterfly,3,IIf(BearButterfly,-3,IIf(BullCrab,4,IIf(BearCrab,-4,Null))))))))));
PatternName = WriteIf(LastPattern == 1,"Bullish Gartley",WriteIf(LastPattern == -1,"Bearish Gartley",WriteIf(LastPattern == 2,"Bullish Bat",
WriteIf(LastPattern == -2,"Bearish Bat",WriteIf(LastPattern == 3,"Bullish Butterfly",WriteIf(LastPattern == -3,"Bearish Butterfly",
WriteIf(LastPattern == 4,"Bullish Crab",WriteIf(LastPattern == -4,"Bearish Crab","None"))))))));


plotFractals = ParamToggle("Plot Fractals","Off|On",0);
if(PlotFractals)
{
PlotShapes(shapeSmallCircle*P1,colorRed,0,H,10);
PlotShapes(shapeSmallCircle*V1,colorBlue,O,L,-10);
}

GfxSetTextColor(IIf(LastPattern > 0, colorGreen,colorRed));
GfxTextOut("Last Pattern : " + PatternName,0,20);

Filter = BullHar OR BearHar;
Bull = BullHar; Bear = BearHar;
Color = IIf(Bull,colorGreen,colorRed);
AddColumn(IIf(Bull,1,IIf(Bear,-1,Null)),"Pattern",1.0,colorWhite,Color);

50 Re: Technical Analytics & Charts (1) on Mon Mar 19, 2012 10:38 am

smallville

avatar
Associate Director - Equity Analytics
Associate Director - Equity Analytics
Yes AHUN has a falling wedge, in addition I also see the following for AHUN;

[You must be registered and logged in to see this image.]

So there can be a possible uptrend for 70-75 region and a fall too.. trade with care Wink

51 Re: Technical Analytics & Charts (1) on Mon Mar 19, 2012 11:18 am

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@smallville wrote:TAH,

Thanks for the valuable effort.. If you look at most of the charts, they fall into falling wedges as I noticed but they keep fallin so finding a reversal point is a bit difficult.. Wink
Added to this ASI is nowhere signelling a reversal as last Friday high TO was due to several high calibre crossings.. not much of retail activities..

Therefore aprt from the trades we make, a point to consider is the crowd mentality at a greater extent.. A possible price action on a chart can get changed due to unfavourable news even...

Keep up the good work, I'm sure we can analyse few potential winners with gartley Wink
Hi small, excellant code for amibokers. thanks n appreciate your effort.
is there a way we can link cse live tick data with meta trader 4 Laughing

52 Re: Technical Analytics & Charts (1) on Mon Mar 19, 2012 1:15 pm

smallville

avatar
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@traderathome wrote:
Hi small, excellant code for amibokers. thanks n appreciate your effort.
is there a way we can link cse live tick data with meta trader 4 Laughing

Sorry bro never worked in Meta.. why dont u switch to Ami cuz most of us are working on it Wink he hee..

53 Re: Technical Analytics & Charts (1) on Mon Mar 19, 2012 1:26 pm

chamith

avatar
Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Smll,
Its the same AFL that I use.

54 Re: Technical Analytics & Charts (1) on Sun Mar 25, 2012 5:23 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Here is a chart worth watching how it will form Very Happy [You must be registered and logged in to see this image.]

Appreciate your comments.

I have indicated possible price levels the share probably looking before short reversal.

55 Re: Technical Analytics & Charts (1) on Mon Mar 26, 2012 7:06 am

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
The targets are drawn at strategic fib levels and not hypothetical PRZ Very Happy at the designated target levels we should see slight pull back to the halfway of current leg up before continuation.

anything below the pull back look for for downside. Very Happy

trade @100 Risk.this is not a trading advise,please check with your broker/investment advisor. Basketball

56 Re: Technical Analytics & Charts (1) on Mon Mar 26, 2012 7:19 am

Rajaraam


Vice President - Equity Analytics
Vice President - Equity Analytics
@traderathome wrote:The targets are drawn at strategic fib levels and not hypothetical PRZ Very Happy at the designated target levels we should see slight pull back to the halfway of current leg up before continuation.

anything below the pull back look for for downside. Very Happy

trade @100 Risk.this is not a trading advise,please check with your broker/investment advisor. Basketball

I admire your great effort tradeathome. Thank you for indicating positive movements of some counters. we could closely watch only a few counters and not all shares in the Market. Your TA analysis above help us to focus on a few good shares.

57 Re: Technical Analytics & Charts (1) on Tue Mar 27, 2012 8:27 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
[You must be registered and logged in to see this image.]


The Milanka Index, is trending upward cautiously, and the Low,High and Low High pattern is respected and if this pattern to invalidate the Index should close @ 4760 below with further sliding below 4720. the immediate Res 1 is at 4910 which is previous HIGH closed on 19 Mar 2012. Major RES is at 5705 on 30/01/2012. Very Happy

My immediate concern is the Index should not close below 4760. which could hamper positive sentiments.

The Index should close this week above 4910 if we are to harbour any thoughts on market recovery. If the upward momentum continues we will very well see short term targets of 5350~ 5600 in coming weeks/months.

Regards
TAH

58 Re: Technical Analytics & Charts (1) on Wed Mar 28, 2012 2:59 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Here is the chart of AHUN N.

I am currently Bullish bias on the stock.

I have drawn possible PRZ levels, for those who are holding this particular counter.

The 1st PRZ (77.60) is where we could see the confirmation of a Bearish Gartley pattern completion if reverses from PRZ1 levels to below Rs 60/-. The Extension from 161.8 Fib to 261.8 and 361.8 will confirm Alt Bearish CRAB formation.

Short term profit taking is recommended at these levels, while keeping a part of it to ride with the bullish trend. Very Happy

[You must be registered and logged in to see this image.]

Happy Trading
TAH

59 Re: Technical Analytics & Charts (1) on Thu Mar 29, 2012 8:40 am

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Here is my midweek chart on the daily time frame for parq N

I had drawn up this chart couple of days back. Did not want to publish till yesterday.

This might be worth monitoring for swing traders... and short term traders.

And we will see the price testing the support of Rs 13/- mid feb 2012 levels , in coming days/weeks.

Price could bounce off support level with intraday/swing traders trying to cashing in on short term profit taking thus pushing prices to Rs 18/- ~ Rs 20/-.

[You must be registered and logged in to see this image.]

Kindly note stock trading inherits high risk and may loose your entire capital/investment.This is not a stock advice.Kindly excercise extreme caution and consult your stock broker/investment advisor for further clarification.

Happy Trading
TAH

60 Re: Technical Analytics & Charts (1) on Fri Mar 30, 2012 6:48 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Dear Traders,

Another week has gone by, and we are in the process of gaining , loss territory so as to speak. Look at the bullish crab formation completed @ 161.8 FIB Lvl around Rs 30/-.

A new formation/pattern is emerging and which is nearing completion and a confirmation of same could be seen @ Rs 55/~Rs 65/-.

The momentum would lead to a short term price correction towards max Rs 50/- due to selling pressure/profit taking and continuation of its original upward direction can not be ruled out.

Happy Trading

TAH
Disclaimer: Kindly DYODD, seek advise from your Investment Advisor/Broker.This is not an Trading advise to ACT upon without further research.

[You must be registered and logged in to see this image.]

61 Re: Technical Analytics & Charts (1) on Sat Mar 31, 2012 9:53 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
PARQ N. update....

We are nearing an important PRZ around Rs 13.10. I am looking for Rs 20/- and Rs 30/- possible profit taking levels.

Please use your own discretionary....when BUYING this stock.It is your responsibility and your money.the analysis provided by me is purely technical in nature, Please analyse financial reports concurrently of this company before deciding to purchase any share.

Happy hunting.... Very Happy

[You must be registered and logged in to see this image.]

62 Re: Technical Analytics & Charts (1) on Thu Apr 05, 2012 6:58 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
BFL
This afternoon i purchased few shares of BFL, and thought i would share my thoughts on the purchase.[You must be registered and logged in to see this image.]

major reversal zone around 126/125Rs youwould see the fib levels of 261.8% further below i would place an order around rs 50/- should BFL prices slides further below.I am anticipating the prices to pull to Rs 215/- around Rs 123/-. If we go by AB=CD pattern the next reversal should also confluence around Rs 123/-. Did you notice around 27/7/2011 prices moved up Rs 100/-.perhaps not in the same amounts at least i am expecting 90/-Rs up from Rs 123-125 to have a Lower High established.

Good Luck.... Very Happy

margin Kills you,so trade with your own real money,if you are so desperate to make money,visit the nearest casino to burn your hard earned wealth.Stock trading is not a gamble.I am not responsible for your decisions nor this is an investment advise.this post is only for information purpose.i am neither promoting this share just because i bought it.

63 Re: Technical Analytics & Charts (1) on Thu Apr 05, 2012 8:02 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Advise : Please take small profits in bear market. Very Happy Keep part of your shares to go with the trend,this way you may get lucky to ride the trend up Basketball on the way up or down collect the shares at important price reversal zones. cheers

64 Re: Technical Analytics & Charts (1) on Thu Apr 05, 2012 8:04 pm

Redbulls

avatar
Director - Equity Analytics
Director - Equity Analytics
@traderathome wrote:Advise : Please take small profits in bear market. Very Happy Keep part of your shares to go with the trend,this way you may get lucky to ride the trend up Basketball on the way up or down collect the shares at important price reversal zones. cheers
Thanks.

65 Re: Technical Analytics & Charts (1) on Wed Apr 11, 2012 9:04 am

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
[You must be registered and logged in to see this image.]

Looking at the chart of Primal Glass,I can not ignore that the current price levels are very attractive which is co-incidentally confluence of 2 major FIB levels.
Buyers were willing to purchase at even 6.20, If I am not mistaken. Possible PT can be drawn around Rs 8/- or Rs 10/-.Anyone holding Primal,kindly share your experience.

Gud Luck cheers
TAH

66 Re: Technical Analytics & Charts (1) on Tue Apr 24, 2012 6:25 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Hi All, Hope most of the retailers are with a smile on their faces...looking for good times ahead.I think there are few more counters at attractive price levels if you are interested.It is not correct to name though..the last thing thing i would need would be a label for promoting indirectly.

My Portfolio is currently 2% DOWN, which has improved to a great extent. I am also planning to increase by investing an equivalent amount of my current portfolio value. This is no way averaging but increasing my no of shares.In the process i will sell of some of the shares so that i restructure my holdings.

Will keep you posted with charts, as and when purchases are made. Very Happy

67 Re: Technical Analytics & Charts (1) on Tue Apr 24, 2012 8:07 pm

manula


Vice President - Equity Analytics
Vice President - Equity Analytics
@traderathome wrote:Hi All, Hope most of the retailers are with a smile on their faces...looking for good times ahead.I think there are few more counters at attractive price levels if you are interested.It is not correct to name though..the last thing thing i would need would be a label for promoting indirectly.

My Portfolio is currently 2% DOWN, which has improved to a great extent. I am also planning to increase by investing an equivalent amount of my current portfolio value. This is no way averaging but increasing my no of shares.In the process i will sell of some of the shares so that i restructure my holdings.

Will keep you posted with charts, as and when purchases are made. Very Happy

Though our portfolio currently down... we can gain in this market with new shares if you buy in the correct time.

68 Re: Technical Analytics & Charts (1) on Wed Apr 25, 2012 10:21 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@manula wrote:
@traderathome wrote:Hi All, Hope most of the retailers are with a smile on their faces...looking for good times ahead.I think there are few more counters at attractive price levels if you are interested.It is not correct to name though..the last thing thing i would need would be a label for promoting indirectly.

My Portfolio is currently 2% DOWN, which has improved to a great extent. I am also planning to increase by investing an equivalent amount of my current portfolio value. This is no way averaging but increasing my no of shares.In the process i will sell of some of the shares so that i restructure my holdings.

Will keep you posted with charts, as and when purchases are made. Very Happy

Though our portfolio currently down... we can gain in this market with new shares if you buy in the correct time.
true Very Happy

69 Re: Technical Analytics & Charts (1) on Mon May 14, 2012 12:37 am

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@traderathome wrote:Dear Traders,

Another week has gone by, and we are in the process of gaining , loss territory so as to speak. Look at the bullish crab formation completed @ 161.8 FIB Lvl around Rs 30/-.

A new formation/pattern is emerging and which is nearing completion and a confirmation of same could be seen @ Rs 55/~Rs 65/-.

The momentum would lead to a short term price correction towards max Rs 50/- due to selling pressure/profit taking and continuation of its original upward direction can not be ruled out.

Happy Trading

TAH
Disclaimer: Kindly DYODD, seek advise from your Investment Advisor/Broker.This is not an Trading advise to ACT upon without further research.

[You must be registered and logged in to see this image.]
Took out @44/- last week Smile not holding any shares of VFIN atm.

70 Re: Technical Analytics & Charts (1) on Mon May 14, 2012 10:57 am

stumpy

avatar
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
huh! TAH,

Glad that u're still alive! Razz
Where were u dude?

71 Re: Technical Analytics & Charts (1) on Wed May 16, 2012 8:58 am

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@stumpy wrote:huh! TAH,

Glad that u're still alive! Razz
Where were u dude?
Very Happy in abu dhabi, but my radar is ON bounce

72 Re: Technical Analytics & Charts (1) on Wed May 16, 2012 9:04 am

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I have not got the adsl line to my apartment so have limited connectivity, will update with my charts in the near furture.

on the forex side i am on BUY eurusd @2790 sell limit on USDCHF order not filled, BUY EURJPY around 100 mark not filled yet.

on srilankan equity, im holding AGAL,GLAS,COMM X,DFCC,HDFC,ODEL,PARQ,BFL,AHUN,LWL are some pirat and few other counters.

73 Re: Technical Analytics & Charts (1) on Fri May 18, 2012 12:27 am

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Seeing something positive coming out from the government which is good.then who would believe dr pbj statements, a slow down in most major mkts are anticipated whilst ems such as srilanka will profit from such a scenario. If you are in with for the longhaul come back in 12 to 18 months you are in for surprise India n china will slow down specially our closest neighbor struggling and our stocks end in green last two days

74 Re: Technical Analytics & Charts (1) on Fri May 18, 2012 12:30 am

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I'm reading the numbers cautiously but will load on dips on major caps you will surely gonna find some interesting stocks trading less than navps which is encouraging

75 Re: Technical Analytics & Charts (1) on Fri May 18, 2012 5:11 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Gold is doing Gud, I'm long from 1575 take profit @1615 anyone long

76 Re: Technical Analytics & Charts (1) on Fri May 18, 2012 5:16 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Back to equity market, bought lioc with global economies slowing down surely lubricant companies will earn fat profits due to low demand for crude I haven't seen dividends declaration by lioc on the cse website do lioc declare profits

77 Re: Technical Analytics & Charts (1) on Fri May 18, 2012 8:47 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Planning to buy Plc.n

78 Re: Technical Analytics & Charts (1) on Fri May 18, 2012 11:10 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@traderathome wrote:Planning to buy Plc.n
[You must be registered and logged in to see this image.] A stock im holding guess we may see 35-50rs / share near term Very Happy i will load in the 40ish region so that i will not miss the ride Cool

79 Re: Technical Analytics & Charts (1) on Fri May 18, 2012 11:50 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
consumables , pharma, bank and insurance stocks will drive the market also do not forget engineering and construction sector will look growth Very Happy keep your eyes n ears open to push the BUY button Razz

80 Re: Technical Analytics & Charts (1) on Sat May 19, 2012 1:21 am

malanp


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Hi Tradeathome

Thank you buddy, I am learning a lot from your charts, keep it up.

81 Re: Technical Analytics & Charts (1) on Sun May 20, 2012 10:56 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Tomorrow is another day will be re injecting as I build my equity investment portfolio

82 Re: Technical Analytics & Charts (1) on Sun May 20, 2012 11:27 pm

stumpy

avatar
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
tomorrow is good for selling! Razz

83 Re: Technical Analytics & Charts (1) on Mon May 28, 2012 12:54 am

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
next week or 2 it will be a make or break with greece elctions the FII (Foreign Institutional Investors) will decide where to dump their monies imo. With Bloomberg stating most of them are eyeing EM (Emerging Markets), but surely we(SEC) need to put CSE in order.Surely the market is at attractive levels.Just we need a jump start Very Happy

84 Re: Technical Analytics & Charts (1) on Mon May 28, 2012 3:49 am

val2004


Stock Trader
Hi traderathome,

can you Please explain how to trade the following Harmonic Price Patterns:

ABCD Pattern
Three-Drive Pattern
Gartley Pattern

thanks a lot

V

85 Re: Technical Analytics & Charts (1) on Mon May 28, 2012 10:02 pm

traderathome

avatar
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@traderathome wrote:next week or 2 it will be a make or break with greece elctions the FII (Foreign Institutional Investors) will decide where to dump their monies imo. With Bloomberg stating most of them are eyeing EM (Emerging Markets), but surely we(SEC) need to put CSE in order.Surely the market is at attractive levels.Just we need a jump start Very Happy
Hi Investors

Its been long since i updated BFL stock which i purchased sometime back.As you most us are suffering due to down trend, extreme selling pressure due to economic woes all over not only related SL,but USA,India,Europe due to uncertainities ...and slow-down of growth.we are bound to have this sort of scenarios. Most people exit to cut short losses as no one can in certainity tell when the market will reverse. But there are signs people will get over greece and spain issues. so to avoid any spill over effect on rest of the eurozone. so come greece elections we will for sure know how issues will span out and options will be on the table for germany and france to decide.

Regarding the BFL i attach herewith possible PRX around current market level and around Rs 62 levels. I will reload between 90-60 the remaining 2 lots. as you know i trade /buy in 3 lots eg. with 1,000,000 investment i take 7.5-10% and divide in to 3lots and purchase at different levels. That about an insight to my trading.

The chart is self explanatory....[You must be registered and logged in to see this image.]

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