Gartley
Background
The Gartley is a five-point zig-zag pattern, usually labelled X-A-B-C-D, where each leg retraces the one before it by a specific Fibonacci ratio. When the legs line up with those ratios the final point is treated as a likely turning point, giving a precise place to buy a bullish Gartley or sell a bearish one.
This scanner finds Gartley patterns on your chart using the settings below. For the scriptable version, see FindGartley.
Parameters
| Parameter | Description |
|---|---|
| Trend Size | Percent change in price for a price point to be considered a peak or trough. |
| Bars Back | This value specifies how bars back the gartley pattern could have formed and still be included in the results. |