The Harmonic Pattern Scanner V3 for Metatrader 5 scans any Forex chart for Harmonic chart patterns and displays them accordingly in the price chart.
It identifies the following chart patterns on autopilot:
- AB=CD chart pattern
- Gartley chart pattern
- Bat chart pattern
- Crab chart pattern
- Butterfly chart pattern
- Three Drives chart pattern
- Cypher chart pattern
- Shark chart pattern
- Nen Star chart pattern
- Black Swan chart pattern
- White Swan chart pattern
- New Cypher chart pattern
- Leonardo chart pattern
- Anti Gartley chart pattern
- Anti Bat chart pattern
- Anti Deepcrap chart pattern
- Anti max. Butterfly chart pattern
The Harmonic chart pattern indicator is based on pure price action and does not lag the price in any way.
The following indicator inputs and parameters can be modified: Zig Zag settings, indicator settings, patterns quick, patterns individual, colors, style.
Harmonics work for any trade style: scalping, day trading and swing trading.
Make yourself familiar with this technical indicator and test it first on a demo account for an extended period of time.
It supports all time frames and Forex pairs.
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The following chart shows how the Harmonic Pattern Scanner V3 indicator looks like when applied to the MT5 chart.
How To Buy And Sell FX Pairs With The Harmonic Pattern Scanner V3 Indicator?
Find a simple trading example below:
- A buy signal is given when a bullish Harmonic chart pattern gets displayed on the price chart.
- Open a buy trade and place a stop loss order below the actual chart pattern.
- Exit the buy trade for a fixed take profit or according to the chart pattern’s trading rules.
- A sell signal is given when a bearish Harmonic chart pattern gets displayed on the price chart.
- Open a sell trade and place a stop loss order above the actual chart pattern.
- Exit the sell trade for a fixed take profit or according to the chart pattern’s trading rules.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the harmonic-pattern-finder-v3-indicator.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration