ZUP Indicator is an useful forex tool able to recognize Harmonic Price Patterns as described in the “Profitable Patterns for Stock Trading” by Larry Pesavento:
- 5-0 Pattern
- AB=CD Pattern
- Bat Pattern
- Alternate Bat Pattern
- Gartley Pattern
- Crab Pattern
- Shark Pattern
- Butterfly Pattern
- Three Drives Pattern
In fact, ZUP stands for Universal ZigZag with Pesavento Patterns.
ZUP Indicator automatically identifies the swing points on the chart, connects them and calculates the retracement ratio. is totally automatic. They are drawn in real time and updated while the new bars are forming.
It is based on several ZigZag Indicators in order to determine the high and low peaks of the swing line, you can chose which version (DT_ZZ, Swing ZZ, Ensign ZigZag, Alex’s ZigZag, Tauber’s ZigZag, Gann Swings, etc) and set all the parameters (Minimum Size and Number of Bars) for each of them. Be aware that if you set the Minimum Size too low, it will highlight minor swings and mess your chart with too many lines.
ZUP Indicator Features
- Pesavento Patterns;
- Andrews’ Pitchfork;
- Fibonacci Fans;
- Fibonacci Levels;
- Fibonacci Arcs;
- two versions of Fibonacci Expansions.
You can enable the Fibonacci levels to be shown on the chart, they are calculated according to the previous swing range. According to Pesavento’s theory, the ZUP looks for the main Fibonacci ratios: 0.618, 0.786, 1.00, 1.272, 1.618 and additionally for two more values often present on the market: they are 0,786 (square roots of 0.618) and 1.272 (square root of 1.618).
ZUP Indicator is very useful when trading the Harmonic System, but as with any other trend reversal indicator, i recoment to use it along with price action.
This is the last version, which brings some more features as in the WRR_ZUP_INFO version indicator: it displays on the top-right side of the chart the name of the pattern, if there is no pattern, what timeframe and currency pair. It also shows the risk for the trade. This info text box can be placed anywhere on the chart, also in a separate window.
You can activate alert in order to be notified everytime a new pattern is formed. It will automatically plot ibonacci expansion on Gartleys to highlight any AB=CD confirmation. Among the other features, you can have a chart screen-shot taken everytime a new pattern appears.
Here you can download all the previous stable version of the ZUP Indicator (including ZUP RSI and ZUP NEN Star).