Manually Mapping Harmonic Patterns and Potential Reversal Zones

Summary

This TradingView indicator lets a user mark the five price and time points X, A, B, C, and D, then checks those prices against a library of harmonic pattern definitions. It supports classic, alternate, and nonstandard formations, with a configurable tolerance, and draws the pattern legs, ratio labels, and shaded triangles on the chart.

The script also estimates a potential reversal zone using either an XAD range or a combined BCD and XAD range, then displays that zone near point D. Users can choose which pattern families to include and adjust display settings. The document describes an interactive charting and classification aid; it gives no performance evidence, entry rules, or exit validation. Pattern identification depends on the user's selected points, tolerance, and imported pattern library, so the displayed formation or zone should not be read as proof of a reversal or a profitable trade.

Key ideas

• The user supplies the price and chart time for each of the five XABCD points.
• The indicator compares the selected points with enabled harmonic pattern definitions using a configurable error tolerance.
• It can display pattern legs, Fibonacci-style ratios, and shaded triangular sections.
• The potential reversal zone can be based on XAD projections alone or combined with BCD projections.
• The script offers visual analysis but provides no evidence that patterns predict profitable reversals.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.