The Harmonic Pattern Collection software was developed by the creator of harmonic patterns, author Scott Carney.
The Harmonic Trading concept was first revealed by Scott Carney with the release of his book "The Harmonic Trader" in 1998. In this book, Scott defined the ratio requirements for a variety of patterns. These same patterns are automatically identified by the Harmonic Pattern Collection software, and now his groundbreaking book is being made available to you as a free gift. Please subscribe (use the subscribe form to the right) to receive access to the book.
Since the release of this book, Scott has written two other books:
In these books he introduced new patterns and refined some of the original discoveries.
The Harmonic Pattern Collection is currently available for the NinjaTrader, eSignal, and ChartIQ/Technician platforms on a monthly subscription basis. We are currently working on versions for MultiCharts, and MetaTrader with others to follow.
The harmonic pattern definitions used in our software adhere to the specifications of Scott's discoveries. This is an important consideration because other programs have attempted to mimic Scott's work but have failed to accurately define the ideal structural opportunities that determine overall success. Harmonic patterns are extremely effective but must be measured properly and managed effectively to optimize profitability.
Harmonic Trading is a methodology that utilizes the recognition of specific price patterns and the alignment of exact Fibonacci ratios to determine highly probable reversal points in the financial markets.
This methodology assumes that trading patterns or cycles, like many patterns and cycles in life, repeat themselves. The key is to identify these patterns, and to enter or to exit a position based upon a high degree of probability that the same historic price action will occur. Although these patterns are not 100% accurate, these situations have been historically proven. If these set-ups are identified correctly, it is possible to identify significant opportunities with a very limited risk.
Scott has defined a system of price pattern recognition and Fibonacci measurement techniques that comprises the Harmonic Trading approach.