Patterns by HWAFM

How to use it in short way :

- after installation to MT5 - please, make sure to place it to correct folder - use the following :



and open chart with black-and-white color (right mouse click on the chart - Properties - Color - Scheme)

- attach HWAFM_instrument EA to the chart

- wait for data loading

- use separate window to navigate

I installed it on MT5, build 910, Asus tablet with Windows 8 (I can update to 8.1 but I do not want) - and it works with no problem.

As to MetaEditor so this tool is ex5 files (MetaEditor does not work with ex5 or ex4; MetaEditor works with source codes only sorry - author did not provide source codes and that is why we can not improve this tool).

Developing/forming patterns for EURUSD for right now.

MN1 Bearish Retrecement :

W1 Bearish Retrecement :

W1 Bearish 3-Drives :

H12 Bearish Retracement :

H2 Bearish Retracement:

1. Forming patterns.

I was uploading forming/developing patterns (in your example). It means that patterns were not finished/developed yet. It may be the same as the signal on open bar - open bar is continuing painting, and forming patternds are continuing forming (not finished yet). Some traders are using forming patterns for trading but they use additional indicators in separate window (MACD or Stochastics in overbought/oversold levels for example, because MACD and Stochastics are not repainted).

2. Formed patterns.

There are formed patterns - we see 'bearish' and price moved by 'bearish' ... but it is too late sometimes to open any trade, and it may be used for technical analysis only.

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As to bearish or bullish so I look at the arrow on separate window (up arrow is bullish/uptrend, and down arrow is bearish/downtrend - on separate monitor window).

How to identify - formed patterns or forming patterns?
Formed patterns are in blue arrow, forming patterns are in magenta/red arrow.

I am not a specialist with patterns sorry. But I feel that we may use forming patterns together with the other indicators (MACD or Stochastics in overbought/oversold levels for example) just to predict the price movement in the near future.

As to forming patterns ...

When I see (for example) bearish (or bullish) forming pattern so I understand that we will have downtrend (or uptrend). We do not know when we will have downtrend (or uptrend). But we will have it
So, using this tool for forming patterns - we know : uptrend or downtrend.

To know - when we will have uptrend or downtrend - we may use additional indicators.

Example, if forming pattern is showing downtrend together with Stochastics in overbought condition (about 70 or 80 by value) so it is indicating that this downtrend will be very soon (just few bars after).

If all forming patterns for some pair is showing bearish for all the timeframes started with H1 to W1 or MN so it is indicating that this pair will go to downtrend in the near future. Good to open sell trade using MACD for example - I traded this case (to prove it) with MACD.
Same with bullish.

About this post?
I am expecting bearish.

I will upload some charts during this weekend with more explanation.
But I am not professional with patterns so I just explained about what I know by practics with it (with this tool).

Originally Posted by lobogabor

Thank you, I still do not know what your expectations were based on the EURUSD pics you sent. Sorry.
Is it possible we pick one case during the weekend, or on Monday and we work through of what we see and what we can expect? What are the hours of yours to communicate and look at the market more or less real time?
I will try to adjust, so we could do it if you agree.
Please let me know,
Tnx

It was long time ago when one coder on tsd forum created EA for me and uploaded it to 10points thread there. It was semi-automatic EA based on MACD. It worked on the following way: I need to know - buy or sell during the day, make EA for buy only or sell only, and EA is trading. EA was very profitable.

To know - buy or sell during a day - I used this HWAFM tool. And it was very profitable.

That is why I like this tool.

When all developing/forming patterns started with H1 till W1 or MN are showing bearish so I am trading manual systems for downtrend only by using any time manual systems (any my manual system for my timeframe - any timeframe). In this case I am using MACD or Stochastic anyway (I like Stochastics in overbought/oversold levels) with my timeframe just for confirmation.

If I want to take one single pattern into consideration for one timeframe (H2 Ret bearish for example) so I am using "Macd/MA cross/RSI and other oscillator entry method" for same timeframe (H2 for example).

- What TFs you pick for direction

Time frame of pattern, or timeframe of my trading system in case of all patterns are with same direction

- what patterns you pick for direction

I am using forming/developing patterns. Any with direction.

- what is your entry TF with your Macd/MA cross/RSI and other oscillator entry method?

In case of one pattern - entry tf is timeframe of pattern, in case of all patterns with same direction - any timeframe (timeframe of my trading system).

Just an example - EURUSD - look at red arrow - those arrows are showing the direction of patterns, if all of them are in one dorection so it is very good (for trading).

In my example (image) - all red arrows (forming/developing patterns) are showing downtrend except H1 and H2 timeframes (but it should be all in one direction) :

Yes.

But please note that those are developing/forming patterns - means - the patterns are continuing forming. I mean - everything may be changed ...