Gartley Pattern Settings

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Gartley Pattern Alerts Criteria Settings

Select Gartley Pattern from the Alert Items list and click OK to display the Gartley Pattern Scan Properties dialog box:


A more extensive explanation of Gartley Patterns, and the basis on which these setting operate, can be found in the Gartley Pattern Hi-Lite's help topic.

Gartley Search Criteria

The following settings can be altered by the user:

Bullish / Bearish Pattern selection

Set whether to detect only bullish, only bearish or both bullish and bearish patterns.

Complete / Incomplete Pattern selection

Set whether to detect only complete, only incomplete or both complete and incomplete patterns.

Swing Compression

Set the interval for analyzing the swings. The Default is Daily.

Swing Periods

Set the number of intervals for analyzing the swings.

Similar to the Turning Points Hi-Lite, the Swing 'Period' defines how many consecutive bars up or down are required to change the trend.

A setting of 3 would look for X, A, B, C and D based on 3 Daily Turning Points. The higher the number used, the longer the time frame of the patterns found.

Consider increasing the Max Data Bars figure when using long time frames, e.g. greater than a 3 period Swing.

Max Data Bars

Set the maximum number of previous trading intervals to search for Gartley formations. The Default is 100.

Max XA Turns

This setting allows the XA range to include previous invalid A points, this is accomplished by ignoring invalid A points until a valid A point is detected and a Gartley formation can be plotted. For example a setting of 3 will allow the Gartley formation to be plotted using the first valid A point of three potential A points.

Effectively this allows for turning points within the XA range based on the period used, as not all XA ranges will be a single swing up or down.

Tolerance Settings

As mentioned previously, the mathematical requirements are very strict (refer to the table above) and very few formations meet the exact criteria. To allow detection of formations that largely meet the criteria, and which can be expected to provide profitable trades, users can adjust the level of tolerance for each of the Ranges.

Adjusting the tolerances does not affect the relationships that they must have between another range, but it expands the price range at which they can meet the criteria in both directions from the price or price range set out in the table above.

The default is set at 10% for all of the ranges.

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