Summary of "💎 Dragon Harmonic Pattern Indicator to TradingView – Free – [TradingFinder]"
The video presents the Dragon Harmonic Pattern Indicator, a powerful and effective tool available for multiple trading platforms and accessible directly on TradingView via the TradingFinder website. This indicator automatically identifies and displays Dragon Harmonic Patterns on price charts, helping traders pinpoint potential buy or sell entry points based on key levels such as the D point or the Potential Reversal Zone (PRZ).
Main Financial Strategies and Market Analyses:
- Pattern Identification: The indicator detects Dragon Harmonic Patterns, signaling potential market reversals or trend continuations.
- Entry Points: Traders can use the D point or PRZ as confirmation signals to enter buy or sell trades.
- Trend Confirmation: The indicator helps confirm bearish or bullish trends by highlighting pattern points in distinct colors (e.g., red for bearish D point).
- Risk Management: By enabling certain settings, traders can filter for high-confidence patterns to reduce noise and false signals.
Key Features and Customization Options:
- Calculation Period: Adjust the pivot calculation period to control the sensitivity and reliability of pattern detection.
- Higher values = longer periods, more reliable patterns.
- Lower values = shorter periods, more patterns but less credible.
- High Confidence Patterns: Toggle to display only precise, noise-free patterns or all possible patterns including less reliable ones.
- Pattern Completion Filter: Choose to show only fully completed patterns or include incomplete ones.
- Pivot Detection Period: Set strictness for pivot point detection; higher values mean stricter filtering.
- Pattern Display Options: Enable/disable bullish or bearish pattern visibility and customize their colors.
- Visual Customization: Adjust line thickness, label size, and theme (light/dark/off) to suit preferences.
- Alert System: Configure alerts for pattern formation with options for frequency (all, once per candle, or at candle close) and set alert names and UTC time for notifications.
- Status Display: Enable or disable the display of the indicator’s status on the chart.
Step-by-Step Usage Guide:
- Access the indicator on TradingView by searching its name in the indicator section.
- Add it to favorites for quick access.
- Apply the indicator to your chart to automatically identify Dragon Harmonic Patterns.
- Use the D point or PRZ signals to determine entry points for trades.
- Customize settings to balance between pattern reliability and quantity based on your trading style.
- Enable alerts to stay informed about new pattern formations.
Presenters/Sources:
- The tutorial is presented by TradingFinder, the creators of the Dragon Harmonic Pattern Indicator.
Category
Business and Finance
