Harami Pattern is a free indicator for mt4 (Metatrader 4) that finds and displays Harami candlestick patterns on the activity chart.
The indicator appears in the main MT4 chart window as colored blue and red signal arrows.
Trade Logic
- A blue arrow represents a bullish Harami Pattern.
- A red arrow represents a bearish Harami Pattern.
The Harami Pattern indicator can be used to find high probability trade entries and exits, or to confirm buy & sell trade setups issued by other trading systems or strategies.
For scalping purposes, the indicator tends to work the best during the London and American trading sessions.
The indicator works equally well on all assets (Forex, CFD stocks, Indices, Cryptocurrencies, Commodities,..) and shows promising results if used correctly.
Free Download
Download the “Harami.mq4” indicator for MT4
Indicator Chart (EUR/USD M15)
The example chart below displays the Harami Pattern mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy to trade with the Harami Pattern Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Candlestick pattern
Does the indicator repaint? No.
