Applying XABCD Pattern in your Chart
Optimum Chart provides the several smart ways of applying Harmonic Pattern in your chart. Some of them are fully automated approach and some of them are semi automated approach. One of them is using XABCD chart object. I will show you how to use this XABCD chart object.
Firstly of all, you go to menu: Chart >> Objects >> Harmonic Pattern >> XABCD
Click on XABCD menu. Now you are required to click 5 times to create XABCD pattern because it is 5 click chart object. For example, in the screenshot, I have added new XABCD pattern.
Once you have create XABCD pattern in your chart, you will get some indication of which pattern is very close to your current five points. In our example, the clicked five points was closest to the Alternate Bat pattern. You can recognize it by seeing the smallest pattern matching error in the text in your chart. In our case, Alternate Bat pattern has 17.5% pattern matching accuracy to the selected five points.
The possibility is not ending there. While you are moving each point, Optimum Chart will automatically update its Pattern matching error for each pattern. Hence, it will lead you to the various trading scenario.
Once you know that your are likely to use the XABCD pattern for reversal projection, then you can remove the pattern matching error text in your chart too. For example, if set Draw Text on Chart = false, then Optimum Chart will remove the pattern matching error text from your chart. Of course, if you set it to true again, then you will see the pattern matching error again in your chart.
This is only one way of applying XABCD pattern with Optimum Chart. Please remember that Optimum Chart provides at least 6 different methods to apply Harmonic Pattern for your trading in Forex and Stock Market. Optimum Chart is the most powerful Price Action and Pattern Trading tool kit for your trading.
Below is link to the landing page of Optimum Chart.
YouTube Video: https://www.youtube.com/watch?v=tVG0oI8fg9E&feature=youtu.be