Gartley Butterfly AB= CD Pattern  Indicator.mq4

 

 

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Download Gartley Butterfly Pattern Indicator.mq4 - H.M. Gartley’s 1935 book Profits in the Stock Market describes patterns and technical analysis techniques. However the standout pattern illustrated was on page 222.  Hence the nick name, Gartley’s 222 pattern includes the AB=CD pattern and express a classic retracement area which rises to an overall trend continuation or reversal. Today’s tidied variation of the pattern includes point x to the shape in which the ABCD legs are within the boundaries of the XA leg. The Gartley characteristics between the points are:

  • Point B and D cannot exceed point X
  • Point C cannot exceed point A

The Butterfly pattern is almost the same as the Gartley pattern except for the CD leg extends beyond point X. usually to the 1.272 and not beyond the 1.618 Fibonacci retracement of XA. This can also be seen as a divergence in price to some of the indicators mentioned throughout this document.  - KorHarmonics [v6.7.11].mq4

 

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