Quasimodo (QM)

What this page is

The panel has three blocks. Level draws only the QM level lines. Setup draws the whole shape, in four rows: Reversal and Continuation, each for Bull and Bear. Doubled shoulder draws only the setups whose left shoulder was made twice.

The four Setup rows draw the same shape. What tells them apart is the side (Bull or Bear) and the trend that led into the shape.

Everything is computed in your browser on the candles you are looking at, on any timeframe.

Why it helps you

When to use it, and where to find it

• After a sharp turn, to see whether it made a Quasimodo and where its level sits.
• When price is moving back toward an old failed swing, to see whether a QM level is waiting there.

Try it — a short walkthrough

1. 1
   Open QM and set Depth

   Click the QM chip. On a daily chart set Depth to 4 or 5 so only clear turns are used.
2. 2
   Start with the levels

   Click QM Level (Still armed). You see only the levels that have not been tested yet.
3. 3
   See one full shape

   Click Reversal (Bull). Find LS, NL, HEAD and HH on the chart. The level line starts at LS.
4. 4
   Check the doubled shoulders

   Switch the Setup rows off and turn on 2R / 2S (Bull). Raise Tolerance if none appear.

The panel and the chart, part by part

The Quasimodo panel open on a daily chart, with both Reversal rows on. Each part with a close-up of the real screen; the numbers match the dots on the picture.

1

Quasimodo (QM)

The QM chip on the right rail opens this panel: one setting at the top and eight rows in three blocks.

How — Click the QM chip to open it; click it again, press Escape or click the cross to close it.

• A small dot on the QM chip means at least one row is switched on.
• Each row is a button in the colour it draws — all shades of lime and olive. Click to draw, click again to remove.

2

Depth

How big a swing must be to count. It changes every row on this panel.

How — At 2 the panel finds many small shapes. Raise it to 5 or 6 to keep only shapes built from real turns.

• Range 2 to 30, starts at 2: how many bars on each side a high or low must beat to count as a swing.

3

Level

Only the QM level line, with no shape drawn around it.

How — Use Still armed on its own for a short list of levels that have not been tested yet.

• QM Level (All) — lime line: every QM level found, from the left shoulder to where it stopped mattering.
• QM Level (Still armed) — pale lime: only the levels price has not come back to or broken through.
• Still armed is part of All, not the other half. With both on, the armed levels are drawn twice, one line on top of the other.

4

Setup

The whole shape: three lines joining the four turns, the QM level line, and the labels.

How — Turn on one side at a time. Find the left shoulder (LS) — that is the level to watch, not the neckline.

• Reversal (Bull) — light lime: the shape points UP after a fall, against the move that came before it.
• Reversal (Bear) — dark olive: the shape points DOWN after a rise. In NEPSE this means protect profit or stay out.
• Continuation (Bull) / (Bear) — pale lime / dark green: the SAME shape, but it runs WITH the move that came before it.
• Reversal and Continuation are told apart only by the trend before the shape.

5

Doubled shoulder (2R / 2S)

Setups whose left shoulder was made twice — two nearly equal lows (S S) or highs (R R).

How — Turn these on alone. With the Setup rows also on, the same shape is drawn twice.

• Tolerance (0.5 % to 8 %, starts at 3 %): how equal the two shoulders must be. It only changes these two rows.
• 2R / 2S (Bull) — mid green; 2R / 2S (Bear) — very dark olive.

6

What is drawn on the chart

Each setup is three straight lines through its four turns, a level line, and short labels.

How — Zoom in. Read the labels in order: LS, NL, HEAD, then the break.

• LS: the left shoulder. Its price is the QM level.
• NL: the neckline — the bounce between the shoulder and the head.
• HEAD: the new extreme that failed.
• HH (bull) or LL (bear): the break that confirmed the shape.
• Level line (label QML on the Level rows): thick while price has not come back to it; thinner once it has been retested or broken.
• Arrow labelled "QM" (or "QM 2R/2S"): the bar where price came back to the level. No arrow means price has not come back yet.

Reading the numbers

• Left shoulder (LS): the first swing of the shape. Its price is the QM level.
• Neckline (NL): the bounce between the left shoulder and the head.
• Head: the new high or low that failed.
• Armed: the level has not been retested or broken yet.
• 2R / 2S: two resistances (highs) or two supports (lows) at about the same price, making a doubled left shoulder.

What it does not do

• Reversal and Continuation are separated only by the trend before the shape. Where that trend is unclear, the name can be unclear too.
• Turning on Level and Setup rows together, or Setup and Doubled shoulder rows together, draws the same lines twice. This is expected.
• Armed only means not yet tested. It says nothing about whether price will respect the level.
• These are readings of past candles, not advice to buy or sell.

Questions people ask