Product guideline for price action and pattern trading

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Title of the submitted instruction or manual Product Guideline for Price Action and Pattern Trading

English

Smart Renko, Technical Analysis, Support, Resistance,Harmonic Pattern Plus, Price Breakout Pattern Scanner, Sideways Market Statistical Analyzer, Elliott Wave Trend

31 May 2016

d Date) 1.1 (7 June 2016)

trading platform or any of our products (leave empty if you don’t use)

MetaTrader 4 or MetaTrader 5

Build 950

Smart Renko (5.7), Price Breakout Pattern Scanner (5.2Plus (7.3), Elliott Wave Trend (3.7)

5.7, 5.2, 7.3, 3.7,

2 This document was submitted and shared by trading community to help other traders through www.algotrading-investment.com

Product Guideline for Price Action and

Technical Analysis, Support, Resistance, Forex, Investment, Harmonic Pattern Plus, Price Breakout Pattern Scanner, Sideways Market Statistical Analyzer, Elliott Wave Trend

trading platform or any of our products (leave empty if you don’t use)

MetaTrader 4 or MetaTrader 5

), Price Breakout 5.2), Harmonic Pattern

, Elliott Wave Trend (3.7)


Product Guide Line for Price Action & Pattern Trading






Individual Product Facts

Here we present the specialized Price Action and Pattern Trading

Algotrading-Investment.com. We have many more products than this but these are the main Price

Action and Pattern Trading Products we are offering at the moment.

heavy usage of traditional technica

indicators are lagging due to their smoothing algorithm inside. Therefore, serious traders tend to

prefer to use the information based on

mean that traditional technical indicators are totally eliminated from our analysis. Even if you are

using Price Action based strategy, there are many traders still use traditional technical indicators as

supplementary tools. The thing is that our

main analysis tools for your trading

Price Action and Pattern Trading products are very much specialized one. When they are developed

and crafted by experienced developer with advanced discipline in mathematics, they can be your

invaluable tool for your trading and for your research.

working with institutional level

Deutsch bank and Bank of America.

specialized at. Below we present

individual product page at http://algotrading

products to trade with some supplementary technical indicators.

please read this article as well as detailed product description on our webpage.


Here we present the specialized Price Action and Pattern Trading products developed in house at

We have many more products than this but these are the main Price

Action and Pattern Trading Products we are offering at the moment. Our software will get rid o

usage of traditional technical indicators like moving average or RSI. Traditional technical


prefer to use the information based on Pure Price Action directly. Having said that, we still



The thing is that our Price Action and Pattern Trading products will be

main analysis tools for your trading and you will use very little of traditional technical indicators



invaluable tool for your trading and for your research. We have the extensive experience in this area

level traders who trade commodity, fixed income and

Deutsch bank and Bank of America. This is indeed what Algo Trading & Investment team is

Below we present the brief description of each product. For full specification, visit

http://algotrading-investment.com . Of course, you can use individual

products to trade with some supplementary technical indicators. Before making purchase decision,

please read this article as well as detailed product description on our webpage.


products developed in house at

We have many more products than this but these are the main Price

software will get rid of

l indicators like moving average or RSI. Traditional technical


Price Action directly. Having said that, we still did not



Price Action and Pattern Trading products will be your

and you will use very little of traditional technical indicators.



extensive experience in this area

y, fixed income and Forex market from

This is indeed what Algo Trading & Investment team is

the brief description of each product. For full specification, visit

Of course, you can use individual

Before making purchase decision,


Product Name Trading Style

Harmonic Pattern

Plus

Trend Reversal (turning

points)

Harmonic Pattern

Scenario Planner


points), predicting and

forecasting future

trend reversal

Price Breakout

Pattern Scanner

Detecting various

breakout patterns used

by professional traders

Sideways Market

Statistical

Analyzer

Detecting statistically

significant sideways

consolidation zone.

Trade in breakout style

Elliott Wave

Trend

Solid Trend detection

plus objective Elliott

Wave counting tool to

predict long term

movement of Market

Mean Reversion

Supply Demand

Trend Reversal and

Mean Reversion ty

of trading

Table 1: Brief Description of our

Use Real Time Renko or not to use?

Real Time Renko is the great supplementary tool can be used for Price Action Trading. It requires

opening one chart, independent from timeframe,

strategy must be used with normal candlestick chart, it is fine. You can still use Smart Renko filter

built in your harmonic pattern plus and price breakout pattern scanner. For Price Action Trading,


Trading Style Operational

Cycle

Combined usage with Real

Time Renko

Optimization ability for each

Trend Reversal (turning Short to

Medium

Yes, can be applied to

separate Real Time Renko

chart

Nearly non parametric and

default setting works well for

all currency pairs. Historical

patterns can be replayed.


points), predicting and

forecasting future

Short to

Medium



chart





breakout patterns used

by professional traders

Short to

Medium



chart




pattern can be replayed.

Detecting statistically

significant sideways or

zone.

Trade in breakout style

Short to

Medium

Not too much

improvement with Real

Time Renko. Preferred to

use on normal candlestick

chart.

Yes, you can optimize profit

for each currency pairs and

for each timeframe.

Solid Trend detection

plus objective Elliott

Wave counting tool to

movement of Market

Medium to

long

Not too much




chart.



for each timeframe.

d

ype

Short to

Medium

Not too much




chart.



all currency pairs.

our Price Action and Pattern Trading Products.

Use Real Time Renko or not to use?


, independent from timeframe, besides your normal candlestick chart. If your

rmal candlestick chart, it is fine. You can still use Smart Renko filter



Optimization ability for each

currency pairs











currency pairs. Historical

pattern can be replayed.



for each timeframe.



for each timeframe.



all currency pairs.


besides your normal candlestick chart. If your

rmal candlestick chart, it is fine. You can still use Smart Renko filter



normally Real Time Renko Chart will offer quite unmatched clarity

be honest, it is much easier to use normal candle stick chart and Renko chart at the same time. In

any case, the price level of open price, stop and take profit will be visible from normal candlestick

chart as well as in the separate real ti

When Harmonic Pattern Plus and Price Breakout Pattern Scanner are applie

chart, the pattern will be detected ba

number of patterns and type of patterns detect

different. Just think that when you are using our Harmonic Pattern Plus and Price Breakout Pattern

Scanner with Real Time Renko, you are looking at totally different version of patterns from normal

candle stick chart. Although we recommend to use the Real Time Renko chart for clarity of the

market view, there is the case where you still prefer to apply our harmonic pattern plus or price

breakout pattern scanner on normal candlestick chart. For example, you migh

entry signal from Harmonic Pattern Plus or Price Breakout Pattern Scanner to other signal based on

your candlestick chart. In this case, you don’t have to use Real Time Renko.

Note that when you apply Harmonic Pattern Plus and Price

Renko Chart, make sure that you set “Use Renko Filter for Pattern Detection = false”. If you are using

Renko Filter to Real Time Renko again, then it will apply Renko Filter Twice and the algorithm is not

meant to be applied twice.

Figure 1: Harmonic Pattern Plus applied to Real Time Renko chart.


Renko Chart will offer quite unmatched clarity in terms of pattern



chart as well as in the separate real time Renko chart.

When Harmonic Pattern Plus and Price Breakout Pattern Scanner are applied to the Real Time Renko

the pattern will be detected based on the brick height of the Renko chart. Therefore, the

number of patterns and type of patterns detected from normal candle stick chart can be quite

Just think that when you are using our Harmonic Pattern Plus and Price Breakout Pattern


Although we recommend to use the Real Time Renko chart for clarity of the


breakout pattern scanner on normal candlestick chart. For example, you might want to confirm the


your candlestick chart. In this case, you don’t have to use Real Time Renko.

Note that when you apply Harmonic Pattern Plus and Price Breakout Pattern Scanner to Real Time

ake sure that you set “Use Renko Filter for Pattern Detection = false”. If you are using


Figure 1: Harmonic Pattern Plus applied to Real Time Renko chart.


in terms of pattern detection. To



d to the Real Time Renko

enko chart. Therefore, the

ed from normal candle stick chart can be quite

Just think that when you are using our Harmonic Pattern Plus and Price Breakout Pattern


Although we recommend to use the Real Time Renko chart for clarity of the


t want to confirm the


Breakout Pattern Scanner to Real Time

ake sure that you set “Use Renko Filter for Pattern Detection = false”. If you are using



Combining different Price Action Tools

Each of our Price Action & Patte

preferred technical indicators like Stoch

mastered each trading strategy, you can always move on to next product to master another

Action Trading Strategy. Plus you can combine

there is no bullet proof trading st

strength and weakness. You need to understand them if you want to be good at the strategy.

this reason, when you combine two or more strategy

assuming you are good at both.

hunting ability of lion, can you imagine how powerful the hybridization will be in the survival game in

the jungle?

Figure 2: Concept of Hybridization of multiple strategies


Combining different Price Action Tools

ern Trading products can be used individually with

like Stoch, RSI, moving average, etc as supplementary. As

mastered each trading strategy, you can always move on to next product to master another

Plus you can combine them according to your style of trading.

trading strategy in Financial Market. Any trading Strategy comes with

You need to understand them if you want to be good at the strategy.

this reason, when you combine two or more strategy together, you get better hybridization

If it is possible to combine the flying ability of eagle and the ground


ncept of Hybridization of multiple strategies


with the help of your

as supplementary. As you have

mastered each trading strategy, you can always move on to next product to master another Price

them according to your style of trading. Note that

Any trading Strategy comes with their

You need to understand them if you want to be good at the strategy. For

t better hybridization

If it is possible to combine the flying ability of eagle and the ground



Here is some combination example of our products

1. Harmonic Pattern Plus + Price Breakout Patter Scanner with/without Real Time Renko

Price movement leaves some footage like patterns and trend

footage give us good clue to what next price move can be.

allows you to get benefits through

line in first place. You will learn quite often patterns are interacting together. This means

that you are taking advantage of knowing both harmonic pattern trading and price breakout

pattern trading. You will go far more than who trade only one style of price

You will often see that two different trading styles will give you the entry signal at the same

time. The opportunity like this

2. Harmonic Pattern Plus + Price Breakout Pattern

Wave Trend tool: This combination allows making best use of reversal, breakout and trend.

Mastering these three tool

are not a separate process in the mar

Typical order is trend reverse (new trend), consolidation, breakout and trend. Sometime,

some elements among these four

are not present. The advanta

Price Action strategy is countless. This will help you to have the birds eye’s view on the

market. At the same time, your trading strategies have definitely stop and profit targets too.

When you are right with each analysis in reversal, breakout and trend, it is very difficult for

you to be wrong.

3. Sideways Market Analyzer + Elliott Wave Trend:

too. Remember that both

means that you can tune the system to trade best for that currency pairs. Also y

gauge the profitability with your entry

simple. You can optimize both tools at the best p


Here is some combination example of our products. But this is not exhaust list of the combination.

Harmonic Pattern Plus + Price Breakout Patter Scanner with/without Real Time Renko

es some footage like patterns and trend as they progress

give us good clue to what next price move can be. The combination of these

you to get benefits through combining horizontal and diagonal support and resistance

You will learn quite often patterns are interacting together. This means


You will go far more than who trade only one style of price


time. The opportunity like this is very low risk and high probability winning setup normally.

Harmonic Pattern Plus + Price Breakout Pattern Scanner with Real Time Renko + Elliott

This combination allows making best use of reversal, breakout and trend.

Mastering these three tools may take some time to practice. Reversal, breakout and trend

not a separate process in the market but rather they will come one after the other.


s among these four might have extremely short span. You

are not present. The advantage of combining long sight tool like Elliott Wave Trend in your

strategy is countless. This will help you to have the birds eye’s view on the


ou are right with each analysis in reversal, breakout and trend, it is very difficult for

Sideways Market Analyzer + Elliott Wave Trend: This unique combination works quite well

both tools have the interactive backtesting feature available.

means that you can tune the system to trade best for that currency pairs. Also y

gauge the profitability with your entry from this backtesting feature. The way they work is

simple. You can optimize both tools at the best profitability and trade in a direction where


. But this is not exhaust list of the combination.

Harmonic Pattern Plus + Price Breakout Patter Scanner with/without Real Time Renko:

as they progress and those

ombination of these tools

horizontal and diagonal support and resistance

You will learn quite often patterns are interacting together. This means


You will go far more than who trade only one style of price action strategy.


is very low risk and high probability winning setup normally.

Scanner with Real Time Renko + Elliott

This combination allows making best use of reversal, breakout and trend.

eversal, breakout and trend

they will come one after the other.


ou will feel like they

ge of combining long sight tool like Elliott Wave Trend in your

strategy is countless. This will help you to have the birds eye’s view on the


ou are right with each analysis in reversal, breakout and trend, it is very difficult for

This unique combination works quite well

ng feature available. This

means that you can tune the system to trade best for that currency pairs. Also you can

. The way they work is

rofitability and trade in a direction where


both tools agree. Your profitability can be reinforced through the effect of i

Reward to Risk ratio.

4. Price Breakout Pattern Scanner + Elliott Wave Trend:

of Sideways Market Analyzer + Elliott Wave Trend. If breakout is successful, then the price

will likely to have the momentum. Then the Elliott Wave Trend tool will be reactive to

further to confirm your legitimacy of holding your position which you have entered with

your price breakout pattern.

5. Harmonic Pattern Plus +

Plus and Mean Reversio

Mean reversion trading.

accurate prediction of tu

normal candle stick char

Renko filter too.

In fact, you can combine all these tools for your analysis. You can drill down your analysis in fine

granular level if they are necessary for you or for your firm.

excel quite fast. As we mentioned above, market cycles in few phases including trend reversal (new

trend), consolidation, breakout and trend. Each product will ensure to tell you what phase you are at

with the market. When two or three signals agree to each other, we often

opportunities which offer you high probability winning setup

When we combine all our analysis, we use one

Scanner and Harmonic Pattern Plus,

timeframe. Even if you have to open a separate Real Time Renko chart, the clarity on market view

you will get from the Renko Chart is worth for that extra chart.

analysis with these two charts in fact

for you to predict quite long term move too.

Elliott Wave analysis is a lot simpler with our Elliott Wave Trend tool because it will de

Elliott Wave in first place. So all you have to do is just mark up some simple 1

from your chart to predict long term forecasting of that currency pairs.


both tools agree. Your profitability can be reinforced through the effect of i

Price Breakout Pattern Scanner + Elliott Wave Trend: Similar principle to the combination

s Market Analyzer + Elliott Wave Trend. If breakout is successful, then the price



your price breakout pattern.

+ Mean Reversion Supply Demand: When you u

on Supply Demand, your trading strategy will be

. Hybridization will results in increased Reward/

urning point. For this setup, you will apply Harm

rt and you can use Smart Renko Filter but you m


granular level if they are necessary for you or for your firm. Probably you feel t

As we mentioned above, market cycles in few phases including trend reversal (new


with the market. When two or three signals agree to each other, we often call this as

which offer you high probability winning setup.

mbine all our analysis, we use one Real Time Renko chart for our Price Breakout Pattern

Scanner and Harmonic Pattern Plus, and then we use another normal candlestick chart with H1

Even if you have to open a separate Real Time Renko chart, the clarity on market view

you will get from the Renko Chart is worth for that extra chart. You can perform quite through

analysis with these two charts in fact. When you implement, Elliott Wave Analysis, it is even possible

for you to predict quite long term move too. Unlike people does not use good Elliott Wave tool, your

Elliott Wave analysis is a lot simpler with our Elliott Wave Trend tool because it will de

Elliott Wave in first place. So all you have to do is just mark up some simple 1-2-

from your chart to predict long term forecasting of that currency pairs.


both tools agree. Your profitability can be reinforced through the effect of increasing

Similar principle to the combination

s Market Analyzer + Elliott Wave Trend. If breakout is successful, then the price



use Harmonic Pattern

e highly specialized in

/Risk ratio plus more

monic Pattern plus to

may switch off Smart


that your trading will

As we mentioned above, market cycles in few phases including trend reversal (new


call this as the golden

Real Time Renko chart for our Price Breakout Pattern

candlestick chart with H1

Even if you have to open a separate Real Time Renko chart, the clarity on market view

You can perform quite through

. When you implement, Elliott Wave Analysis, it is even possible

Unlike people does not use good Elliott Wave tool, your

Elliott Wave analysis is a lot simpler with our Elliott Wave Trend tool because it will detect significant

-3-4-5-a-b-c patterns


Figure 3: Harmonic Pattern Plus and Price Breakout Pattern

chart.

Figure 4: Elliott Wave Trend and Sideways Market Analyzer applied to hourly candle stick chart.

Note that you don’t have to combine both harmonic Pattern Plus and Harmonic Pattern scenario

Planner. Both of them are quite similar in term of what they do. So use only one of them.


Figure 3: Harmonic Pattern Plus and Price Breakout Pattern Scanner applied to the Real Time Renko



them are quite similar in term of what they do. So use only one of them.


Scanner applied to the Real Time Renko



them are quite similar in term of what they do. So use only one of them.

Product guideline for price action and pattern trading

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