The Auto Harmonic Pattern Indicator is a technical analysis tool used in trading platforms to help identify harmonic patterns. These patterns are based on specific geometric shapes and Fibonacci ratios. The goal of this patterns indicator is to assist traders in spotting potential price reversals and areas where the market might change direction.
The indicator helps traders recognize several key harmonic patterns, including:
- Gartley Pattern
- Bat Pattern
- Butterfly Pattern
- Crab Pattern
- Shark Pattern
- Cypher Pattern
These patterns are tracked by analyzing price movement and comparing it to Fibonacci retracement and extension levels.
You can use the tool either in automatic mode, where it finds patterns for you, or in manual mode, where you draw the patterns yourself and the indicator checks them. Once a valid pattern is found, the tool shows potential reversal zones and suggests areas for possible buy or sell trades.
Key Features of Auto Harmonic Pattern Indicator
Here’s a breakdown of what the Auto Harmonic Pattern Indicator offers:
- Automatic & Manual Pattern Detection – Traders can let the tool automatically look for patterns or manually sketch them.
- Pattern Recognition – Scans for common harmonic patterns mentioned above.
- Fibonacci Ratio Validation – Uses Fibonacci retracement and extension levels to confirm patterns.
- Alerts and Notifications – Sends signal alerts when new patterns form.
- Entry and Exit Zones – Displays suggestions for potential buying and selling areas.
- Multiple Timeframe Support – Allows analysis across different timeframes, which can be used by both short-term and long-term traders.
This Harmonic Pattern MT4 Indicator isn’t a standalone trading indicator System. Still, it can be very useful for your trading as additional chart analysis, to find trade exit position(TP/SL), and more. While traders of all experience levels can use this system, practicing trading on an MT4 demo account can be beneficial until you become consistent and confident enough to go live. You can open a real or demo trading account with most Forex brokers.
How this Patterns Indicator Works
The patterns indicator reviews past price data to locate patterns that match harmonic structures. Once a pattern is found, it shows possible reversal areas and trade points. Traders often use extra tools, such as RSI or MACD, to confirm these signals before making decisions.
Max Leverage
Small Accounts
Platforms
1:2000
Yes ✅ (Cent)
MT4, MT5
No Commission
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Additional Features of Harmonic Patterns Indicator
- A control panel helps manage the indicator on each chart and timeframe. You can hide or minimize it when working with other tools.
- Settings and user templates update and save automatically as you change values or add other indicators like moving averages.
- Draws Fibonacci fans and other related tools, including pivot points and Camarilla levels.
- Harmonic Patterns Indicator divergence detection (yellow and orange arrows), which some traders use for confirmation.
- Reset buttons to clear saved settings and the ability to load manually drawn higher-timeframe objects into lower ones.
- Suggests lot sizes appropriate to the user’s account balance and risk settings.
- Identifies price action patterns, such as Pin Bar, Inside Bar, and Outside Bar.
- Auto Harmonic Pattern Includes buffers that can be used in EA.
Buffers
double buy_signal=iCustom(NULL,0,"Market\\Shepherd_Harmonic_Patterns",0,1); //if(buy_signal!= EMPTY_VALUE){//buy}
double sell_signal=iCustom(NULL,0,"Market\\Shepherd_Harmonic_Patterns",1,1); //if(buy_signal!=EMPTY_VALUE){//sell}
double bull_divergence=iCustom(NULL,0,"Market\\Shepherd_Harmonic_Patterns",2,1); //if(bull_divergence!=EMPTY_VALUE){//buy}
double bear_divergence=iCustom(NULL,0,"Market\\Shepherd_Harmonic_Patterns",3,1); //if(bear_divergence!=EMPTY_VALUE){//sell}
double sl_Value=iCustom(NULL,0,"Market\\Shepherd_Harmonic_Patterns",4,1);
double tp1_Value=iCustom(NULL,0,"Market\\Shepherd_Harmonic_Patterns",5,1);
double tp2_Value=iCustom(NULL,0,"Market\\Shepherd_Harmonic_Patterns",6,1);
double tp3_Value=iCustom(NULL,0,"Market\\Shepherd_Harmonic_Patterns",7,1);
double Price_Action=iCustom(NULL,0,"Market\\Shepherd_Harmonic_Patterns",8,1);if(Price_Action!=EMPTY_VALUE){//trade=true;}
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Conclusion
Overall, the Auto Harmonic Patterns Indicator is a technical tool specifically designed for pattern-based trading strategies. It offers a mix of automation and manual control, with added support tools for identifying potential market turning points. How useful it is depends on the trader’s style, knowledge of harmonic patterns, and ability to combine this with broader technical analysis and risk management.
