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2) Fibonacci ratios in Harmonic Pattern

2) Fibonacci ratios in Harmonic Pattern

A ratio of 1,618 as well as its inverse ratio (یعنی 0.618) are used in the main calculations of Harmonic Pattern patterns. These two ratios indicate the levels to which the market reacts in the form of support or resistance. The Fibonacci numbers used in the harmonic patterns are derived directly or indirectly from 0.618 and 1.618. These two ratios are from the Fibonacci series. When these two main ratios are combined with the ratios derived from the Fibonacci sequence, they create harmonic patterns that represent important market return zones.
It should be noted that some of the derivative ratios are not exactly derived from Fibonacci sequences. For example, the number Pi (3.14) is not directly derived from Fibonacci’s numerical series, but this number, combined with the prime numbers 0.618 and 1.618, creates effective harmonic patterns.
The use of ratios is very important in harmonic trading techniques. These Fibonacci ratios play a key role in determining price patterns and determining the most likely return range. The specific combination of these ratios provides the trader with important information about the various price structures and the determination of trading opportunities.
The use of Fibonacci ratios is not limited to harmonic patterns and is used in other trading techniques. But the special feature of Harmonic Pattern patterns is the unique and special combinations of Fibonacci ratios. This is the main difference between harmonic trading techniques and other Fibonacci-based trading techniques. For example, many traders use only the Fibonacci estimate of 1.618 in their analysis. However, in some special cases, a correction of 0.886 can indicate a strong level of support or resistance in combination with an estimate of 1.618.

Important ratios in Harmonic Pattern

Main ratios:

These ratios are derived directly from Fibonacci’s numerical series:

  • Original ratio: 0.618
    Original estimate: 1,618

Derived main ratios:

  • 0.786
    0.886
    1. 13
    1. 27

Derived supplementary ratios:

  • 0.382
    0.50
    0.707
    1. 411
    2.0
    2. 24
    2,618
    3. 14
    3,618

Use of Fibonacci Retracement in MetaTrader

آیکون فیبوناچی اصلاحی

To identify harmonic patterns, you need to be familiar with how the corrective Fibonacci works. In this section, we explain how to use corrective Fibonacci. There are two ways to access Fibonacci corrective drawing tools. Either use the MetaTrader toolbar or click the Fibonacci option from the Insert menu. Then click on the Fibonachi correction icon.

If the toolbar is activated in MetaTrader, you can activate the drawing tool by selecting the Fibonacci correction icon.

  • To draw a corrective Fibonacci, you must select the starting and ending points of the wave. Click on the starting point of the price wave and hold down the mouse button. Fibonacci will appear in the chart. Finally, move the mouse to the end of the wave and release the mouse. For descending waves, you need to draw Fibonacci from the top to the bottom of the wave. For ascending waves, you have to draw Fibonacci from the bottom to the top.

Fibonacci ratios in harmonic patterns: Note that in the downward wave, the Fibonacci level corresponds to 0.0% with the bottom of the wave.

  • You can use the Object window to change the Fibonacci settings. To access this window, just use the shortcut keys Ctrl + B, or right-click on an empty space and select the Object List option.

Right-click in the space bar.

  • In the Object window, select Fibo and click the Edit button.

Harmonic Pattern: Click Fibo to open the Edit button to open the Fibonacci settings window.

  • In the Fibo settings window, the two Common and Fibo Levels tabs are more important. You can select the custom Fibonacci color from the Common window. You will need to use the Fibo Levels tab to change the color of the Fibonacci surfaces. Also, if you want to add a new Fibonacci level to Fibonacci or delete the existing ratio, use the Add and Delete buttons. Click Defaults to reset the default settings.

Harmonic Pattern-style trading: Fibonacci correction adjustments

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