Real Trading Examples With Harmonic Scanner
If you want to see how harmonics scanner is used in trading with price action strategy check the link below.
What is IM Harmonics Scanner?
IM Harmonics scanner in Forex is a trading indicator available in IML academy that automatically plots Harmonic patterns on the trading platform.
Harmonic patterns that are mostly covered with harmonic scanner are:
You will have 8 harmonic patterns with support and resistance levels detection.
Machine learning algorithms filter out the bad patterns for you.
Access to the scanner on any device, from desktop computer to smart phones.
There is no FREE plan.
Harmonic patterns are covered:
- Alternate bat
- Deep Crab
Dashboard or monitor that shows you a list of all patterns across all securities. You can use filters to help you shorten the list including pattern status, asset class, pattern, pattern type, timeframe and individual securities.
- Web platform
Which Harmonic Scanners Exist
There are two types of harmonic scanners.
Two types of harmonic scanners are:
- Repainting Harmonic Scanner
- Non-Repainting Harmonic Scanner
And there are other harmonic scanners in Forex which you can pay for and use. Some of them have a free trial period and some of them can be used on Metatrader 4 on your PC.
Read more: Harmonic Scanner in Forex for Beginners
How do I get the IM Harmonics Scanner for Free?
IM Harmonics Scanner is not available for free, but you can get it for a relatively cheap fee.
But, there is an option 7 days FREE trial on another scanner, harmonics.app.
How Much is the Harmonic Scanner Worth?
You can get it by:
- purchasing FRX harmonics where harmonics is included in both FRX base package ($234.95 first month and $174.95 a month)
- and ELITE package ($324.95 first month and $274.95 a month)
If this is too much you can get the most powerful scanner at harmonics.app.
How do You Get a Harmonic Scanner on IM Academy?
There are two ways how you can get an IM Scanner.
- go to im.center > “strategies” tab in the menu > “FRX academy” > harmonics
- go to: Harmonics.im
The easiest way is to enter into im.center and then from your dashboard select harmonics like it is shown above.
How Do You Use an IM Harmonics Scanner?
You open an IM harmonics scanner by opening the application in a browser where you will have a chart with harmonic scanner on it.
You can change settings and select which pattern to follow and get notification for when it appears on the chart.
You can also access a guide on how to set up and use harmonic scanner so you get familiar with all possibilities you have.
It is good to use a tutorial, so I suggest you check this video.
Which Harmonic Pattern is the Best?
There is no best harmonic pattern you can say it is the best because IM harmonics scanner works together with other trading tools.
That means you need to use additional analyzing tools, like support and resistance, trend lines, to confirm the harmonic pattern shown on the harmonic scanner.
When you confirm the pattern then you can enter into the trade. So, there are a lot of combinations which makes each harmonic pattern good to trade with.
At the start it is good to select one harmonic pattern, like Butterfly, and then practice and test it with your trading analysis.
If you get good results with your trading strategy then use that harmonic pattern all the time. If not, then select the second one and do the same analysis again.
Eventually you will get the best harmonic pattern which will give you the best trading results.
As addition you use currency strength meter to see which currency is strong at the moment and trade that currency.
Who Created the Harmonic Scanner?
IM Harmonics Scanner was created by the CEO of imarketslive academy, Christopher Terry.
If you read more information about the IM Harmonics scanner on imarketslive website you can find what they say about the creator of IM harmonics scanner.
“It is the flagship product created by our very own CEO, 20+ year trader, Chris Terry“
How Accurate is the IM Harmonic Scanner
I suggest you read here more details about overview what IM harmonic scanner can do.
Finally, a Scanner and Charting Package that accurately identifies key Harmonic Patterns!
Our Pattern Recognition Indicator identifies in advance all the key Harmonic Patterns that Scott Carney and Larry Presevento have pioneered in the past 20 years.
By using the using the same strict Fibonacci ratios for each of these 8 incredible patterns, we have created an Automated masterpiece.
We have back tested over 30,000 Harmonic Pattern Scans, we took the most popular and most profitable Harmonic Patterns with the time frames that proved to be the most robust.
Our system has been backtested for over 5 yrs and every market condition during our rigorous testing period.
In our strict back-testing we discovered that the 1 Hour Charts, the 4 Hour Charts and the Daily time frames have tested out to have the highest odds of profitability and pattern stability within the Harmonic Pattern Criteria for the FOREX Market.
Our Harmonic Scanner searches 24 hours per day, 5 days per week for Trading Opportunities.
Once a Harmonic Pattern is qualifies with the highest odds, the Scanner will ALERT you by Email that a new pattern has been posted.
On the Chart, it will list the Pair, its time frame, the pattern, the age of the pattern and the Potential Reversal Zone, so you can be confident when to buy and sell.
What’s great about our scanner is once it lists the forex pair that qualifies, you can click on it and see the chart, there is nothing else like this in the industry, it was made by trades for traders.
Harmonics Scanner Example
Here you can see how harmonic scanner at harmonics.app is working on EURUSD pair.
Below image shows you Shark pattern which has all entry and exit levels.
Harmonic scanner plots you all levels automatically so you need only to use them and enter into trading platform.
If you want you can use technical analysis to increase success of each pattern if you know how to make one.
Here is used price action analysis with technical tools like support/resistance levels and candlestick patterns.
As you can see the pattern was successful and more than 100 pips were taken from the market.
I hope this blog post has answered your questions you have about IM harmonics scanner.
If not, feel free to send me a question.
If you have more questions like:
- Which IM Harmonics Scanner Strategy exist and to use
- How do you identify Forex Harmonic Patterns
I suggest you join Traders Crunch traders team and get answers to the above questions.
When you join you will get even more details about trading so feel free to check it. It is FREE.
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