Harami is a Client Side VTL Indicator to identify Bullish and Bearish Harami candle stick patterns. When the Harami pattern appears, it depicts a condition in which the market is losing its steam in the prevailing trend direction. The Harami consists of a small real body (candle open close range is the real body) that is contained within the preceding large candles' (Master Candle) real body.
A
bullish Harami comes after an upward price move and bearish Harami comes after
a downward price move. The VTL indicator plots an up or down arrow after the
Harami pattern is confirmed, that is, on the next candle after the Harami.
A buy signal could be triggered on
the day after the bullish Harami occurred, if price close higher than Harami
candle’s close price. Confirming the reversal with a down trend lines is a good
practice.
A sell signal could be triggered on the day after bearish Harami
occurs, if price close lower than Harami candle’s close price and an uptrend
line break happened. Note that the Harami candle in the chart is the candle
prior to the up or down arrow in chart. A sell trade example is show the chart.
The Harami detection algorithm can be customized through parameters. Open the VTL script in VTL editor and parameter values are located at the top of the script file. Change the parameter values and compile the script and apply to chart.
The Harami detection algorithm can be customized through parameters. Open the VTL script in VTL editor and parameter values are located at the top of the script file. Change the parameter values and compile the script and apply to chart.
1 Minimum Master Bar Size - Value
in Pips
2 Maximum Master Bar Size - Value in Pips
3 Minimum Harami Bar Size – Value in Pips
4 Maximum Harami Bar Size – Value in Pips
5 Maximum Harami Bar to Master Bar Ratio
6 Minimum Harami Bar to Master Bar Ratio 7 Arrow Offset - Marker arrow offset from High/Low of Bar.
2 Maximum Master Bar Size - Value in Pips
3 Minimum Harami Bar Size – Value in Pips
4 Maximum Harami Bar Size – Value in Pips
5 Maximum Harami Bar to Master Bar Ratio
6 Minimum Harami Bar to Master Bar Ratio 7 Arrow Offset - Marker arrow offset from High/Low of Bar.
To use Harami indicator download it from here, then
place it at VertexFX VTL directory:
C:\ProgramData\VertexFX Client Terminals\"Company
name"\VTL10\Local VTL Scripts
Then right click on the tree and select refresh or
restart your client station and you will find under VTL local scripts in your client terminal.
You can check this video that talks about Harami indicator: