We provides the testing results for Gartley Pattern in Forex and stock market. Gartley Pattern is considered as the harmonic pattern too. This study uses non repainting and non lagging Harmonic Pattern detection algorithm and the detection algorithm is synchrozined between history and live trading. Hence, this study will show both failed and successful pattern to provide the unbiased results, which is close to the real performance. Typically, a repainting indicator will show the successful pattern only making it hard to check the real performance of your strategy. Hence, you can not check the real performance of the strategy using the repainting indicator. With our Pattern Detection algorithm, you can trade what you see. That can be done by only one button click.
If you want to become a profitable trader, you should study the strategy in the scientific manner. It basically involves checking the repeatability or reproducibility. We provide this study to enhance the forex and stock trading for the trading community. We also want to add some scientific value for the Fibonacci pattern, Harmonic Pattern, X3 Chart Pattern and Elliott Wave Pattern too.
We used the Optimum Chart to test this pattern. You can also use X3 Chart Pattern Scanner in MetaTrader 4 and MetaTrader 5 to get similar results. The Gartley Pattern in this study has the following Structure:
- N: 3, C0: 0.618 to T0: 3
- R0: 1.272, R1: 0.382 -0.886, R2: 0.618
Points to watch out in this study:
- Price movement around the Pattern Completion Zone (= Trading Zone) in the Gartley Pattern
- Risk management around the Trading Zone. Look for the trading entry, where at least, Reward > Risk x 2
- Possibility for breakout trading around the trading zone (=use them as support and resistance)
- Look for continuation pattern vs reversal pattern
You can use this Reference to find out how to use these price patterns for your trading.
- Science Of Support, Resistance, Fibonacci Analysis, Harmonic Pattern, Elliott Wave and X3 Chart Pattern (In Forex and Stock Market Trading)
- Guide to Precision Harmonic Pattern Trading (Mastering Turning Point Strategy for Financial Trading)
- Technical Analysis in Forex and Stock Market (Supply Demand Analysis and Support Resistance)
- Profitable Chart Patterns in Forex and Stock Market (Fibonacci Analysis, Harmonic Pattern, Elliott Wave, and X3 Chart Pattern)
- Scientific Guide to Price Action and Pattern Trading (Wisdom of Trend, Cycle, and Fractal Wave)
Here is the PDF file presenting Gartley Pattern In Forex Market.
Here is the PDF file presenting Gartley Pattern in Stock Market.
Here is the YouTube Link for Gartly Pattern Trading.
This study was performed using the Robo Advisor built inside Optimum Chart.
You can also check the similar results using the X3 Chart Pattern Scanner in MetaTrader 4 and MetaTrader 5 platform (Non repainting and non lagging algorithm).
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