Me thinks that the Bullish & Bearish Gartley patterns shown there should be reversed. Lower price peaks are usually a bearish sign, whilst higher troughs are a sign of bullish conditions.

Anyway, the chances of price following an exact set of retracements is unlikely. One would have to have a buffer zone for retracements, and herein lies the rub: Fib/Gann/etc "techniques" are far from an exact science.


jose '-)

the gartleys are taking into consideration the larger elliot wave.... so the bullish gartley's downtrending abc wave is the correction of the larger up wave, so therefore possibly bullish at point d..... the somewhat converse is true for the bearish gartley.....

hey ghost..... there are probably only a few people in the world that could code that into an exploration.... jose, being one, and readin between his lines, sounds like it might be tough......... i would think it might be very tough.... perhaps you could ask roy if its possible......

you might be aware of mary over at ehtios, she's kinda expert on gartleys.... no site in the world comes close to chart posting as they do over there.... likely they have more posted charts than the entire rest of the worlds sites combined....

the gartley has somewhat limited application so a exploration for it might return scarce results...... not a big fan of elliot myself but i bet your exploration, if possible, would be interesting..... wish ya luck with it....h

hey alam..... mary's on ethois's site..... here is a link, that will open to the gartly area on a long list of charts.... there are some better ones posted in the dascharts archives..... some pretty smart cookies over there, mary is one.... .... mary mary ain't contrary, if ya know what i mean......h

Thanks all for the replies,
So it's taken me a while to reply to you posts but I've been abroad.

As to coding in Metastock Gartley Formations;

I've managed to dig around a bit more for some more info to see if it is possible to code this in Metastock and if anyone else is using it in a software package (My line of thinking is, if it can be coded in another piece of software then it could be coded in Metastock;???? :-)).
Thanks Hayseed for your comments. I notice Jose, you are regarded as one of the best Programmers of Metastock out there. Do you think this pattern could be coded into Metasock? I'm not doubting someone like your abilities, but rather if you think it couldn't it would be a limitation in the formula builder within Metastock?

I've found a few useful links and some info as to some criteria for an exploration.

1.
Gartley Pattern Elements:

· Precise 61.8% B point retracement of XA leg.
· BC projection must not exceed 1.618.
· Equivalent AB=CD pattern is most common.
· 0.786 XA retracement.
· C point within range of 0.382-0.886 retracement.

This was found at;
http://www.harmonictrader.com/gcontroversy.htm
also abit more info at;
http://www.harmonictrader.com/excerpt2ht.htm


I've managed to find a piece of software that does explorations for Gartley at;
http://www.ensignsoftwar...radingtips65.htm#Gartley
This has a good explanation also of the Gartley.

My thinking again is; if they have managed to code this software to recognise thise patterns, then surely it can be replicated into Metastock? (I think this question might be aimed at you Jose or Hayseed, as you would be the experts to ask on this, because if you two think it can't, well, then it can't:-)

As I mentioned in my first post, this pattern was brought to my attention from an article I read in Trader Magazine interviewing Mr Larry Pesavento a few months ago. I believe he has spent around 40 years studying Fibonacci, and I did read these patterns do have a high success rate.
(I would like to see some actual figures on their success rates, similar to how "Thomas N. Bulkowski" does in his "Encyclopedia of Chart Patterns ". That guy has spread sheets for spread sheets!:-). But I respect how he backs up his figures of chart pattern probability success rates with hard evidence.

As to a few more Gartley examples, and a bit more on Pesavento;
http://www.tradingtutor.com/chart-examples.php

I think this is Mr. Pesaventos actual website. Again some Gartley Patterns, and it looks to be shown using the esign software in one of the above links.

Also
http://www.ensignsoftware.com/help/pesavento.htm


I hope some of these weblinks might be useful, especially to you coding expert guys, as it might open a few more doors to clues to if coding for Gartley in Metastock would be possible.

Many Thanks
TheGhost

http://www.ensignsoftware.com/help/pesavento.htm

I would say yes,
not that this particular indicator will work but some of my "better" (LOL) indicators I have written in Metastock have come from first making the effort, seeing the indicator fail, then with the additional programming education I just gave myself, ask: ok, how "CAN" I make this work,
maybe if I do this.... and start playing around with it, you know... the scientist drops the vile on the floor
approach.
So, since you are the "king" I would rather you:
quickly list the steps (in English- not programming language)
of how you would approach the problem..
then wish him luck.

Thanks for the Info Hayseed. "Planetary Harmonics, Astro Cycles,Harmonic Vibrations, Garltleys.......The Bradley Model, Neural Nets............ I think I need a beer!. :-)

can you give gartely bullish and bearish pattern indicators formula

Does anybody know or has anybody tried to program metastock to search for these patterns?


NOOR