Bat Harmonic Dashboard Indicator - Complete User Guide & Trading Manual (MT4 & MT5)
The Bat Harmonic Dashboard Indicator is a professional multi-symbol, multi-timeframe trading tool that automates the detection of Bat harmonic patterns. It scans up to 20 instruments across nine timeframes and presents every validated pattern in a compact, interactive six-column dashboard with configurable Fibonacci ratio ranges.
Key Features:
- Automated Bat Detection: Identifies both Bullish (LHLHL) and Bearish (HLHLH) Bat patterns using swing pivot analysis
- Fibonacci Validation: Four-ratio validation -- XAB (38.2%-50%), ABC (38.2%-88.6%), BCD (161.8%-261.8%), XAD (88.6% ±5%)
- Multi-Symbol Monitoring: Watch up to 20 currency pairs, metals, indices, or crypto assets simultaneously
- Multi-Timeframe Analysis: Monitor M1 through Monthly timeframes (9 timeframes)
- Non-Repainting Signals: Uses confirmed swing pivots with right-bar validation -- signals never disappear
- Yellow Triangle Visualization: Completed patterns are drawn with three filled yellow triangles (XAB, ABC, BCD) and labeled X/A/B/C/D points
- 6-Column Dashboard: Symbol, Timeframe, Direction, Pattern, Age, and Chart navigation
- 4-Channel Alerts: Popup, sound, email, and push notifications with pattern details
Download the indicator:
- MetaTrader 5: Bat Harmonic Dashboard MT5
- MetaTrader 4: Bat Harmonic Dashboard MT4
TIP: Always combine pattern signals with proper position sizing and risk management -- never risk more than 1-2% of your account on a single trade.
Understanding the Bat Pattern
What is the Bat Pattern?
The Bat pattern is a 5-point XABCD harmonic pattern discovered by Scott Carney in 2001. It defines precise potential reversal zones using four Fibonacci ratio checks between the X, A, B, C, and D swing points. The XAD retracement of 88.6% is the key defining ratio that distinguishes the Bat from other harmonic patterns. When all four ratios are satisfied, the D point marks a high-probability reversal zone.
Bullish Bat (BUY Signal)
The bullish pattern follows a Low-High-Low-High-Low (LHLHL) sequence:
- X (Low): Starting swing low
- A (High): Price rises from X to A
- B (Low): Price retraces down from A, but B must be ABOVE X
- C (High): Price retraces upward from B, but C must be BELOW A
- D (Low): Price drops from C to D, and D must be ABOVE X -- BUY HERE
Bearish Bat (SELL Signal)
The bearish pattern follows a High-Low-High-Low-High (HLHLH) sequence:
- X (High): Starting swing high
- A (Low): Price drops from X to A
- B (High): Price retraces up from A, but B must be BELOW X
- C (Low): Price retraces downward from B, but C must be ABOVE A
- D (High): Price rises from C to D, and D must be BELOW X -- SELL HERE
Fibonacci Ratios
| Measurement | Valid Range | Description |
|---|---|---|
| XAB Retracement | 0.382 - 0.50 of XA | Point B retraces 38.2% to 50% of the XA leg |
| ABC Retracement | 0.382 - 0.886 of AB | Point C retraces 38.2% to 88.6% of the AB leg |
| BCD Extension | 1.618 - 2.618 of BC | Point D extends 161.8% to 261.8% of the BC leg |
| XAD Retracement | 0.886 of XA (with 5% tolerance) | Point D retraces 88.6% of the XA leg -- KEY RATIO |
The indicator validates all four ratios before displaying a pattern on the dashboard. Only patterns that pass every Fibonacci check appear as signals.
NOTE: The indicator uses confirmed swing pivots (with Pivot Right Bars of right-side confirmation) to identify X, A, B, C, and D points. A pattern is only confirmed after point D has been validated by subsequent bars, ensuring non-repainting signals.
Installation Guide
For MetaTrader 5- Purchase the indicator from the MQL5 Market -- it installs automatically
- Press Ctrl+N to open the Navigator and expand Indicators > Market to find it
- If the indicator does not appear immediately, restart MetaTrader 5
- Purchase the indicator from the MQL5 Market -- it auto-installs into your terminal
- Open the Navigator (Ctrl+N) and look under Indicators to find it
- If the indicator does not appear, restart MetaTrader 4
- Double-click the indicator in the Navigator, or drag and drop onto any chart
- Adjust settings as needed and click OK
After applying, you will see:
- Dashboard Panel: Separate window below your chart showing all detected patterns
- Pattern Visualization: Three yellow-filled triangles (XAB, ABC, BCD), X/A/B/C/D labels, and BUY/SELL ENTRY arrows
NOTE: Attach the indicator to a chart of one of the monitored symbols to see the pattern visualization on that pair.
Dashboard Overview
The dashboard displays in a separate indicator window below your main chart. It presents all detected Bat patterns in a scrollable table with six columns:
| Column | Description |
|---|---|
| Symbol | Instrument where the pattern was detected (e.g., EURUSD) |
| Timeframe | Chart period (M5, M15, H1, H4, D1, etc.) |
| Direction | Green = Bullish/BUY, Red = Bearish/SELL |
| Pattern | "Bullish Bat" or "Bearish Bat" when active; "---" when no pattern |
| Age | Bars since point D formed (signal freshness) |
| Chart | Click to navigate to that symbol and timeframe |
Using the Dashboard
- Scrolling: Use the scrollbar on the right side to view more rows when there are more signals than visible rows
- Quick Navigation: Click any row's "Chart" button to instantly switch your main chart to that symbol and timeframe
- Color Coding: Green background tint for Bullish patterns, Red for Bearish
- Fresh Signals: Look for patterns with low Age values (1-5 bars) for the most recent setups
- Visible Rows: The number of simultaneously visible rows is configurable (default: 12)
TIP: Use the dashboard to quickly scan all your markets for Bat patterns. When you spot an interesting setup, click the Chart button to inspect the pattern visually before making a trading decision.
Input Parameters Reference
Dashboard Settings
| Parameter | Default | Description |
|---|---|---|
| Symbols | EURUSD,GBPUSD,USDCAD,USDJPY | Comma-separated symbols to monitor (up to 20) |
| Symbol Prefix | (empty) | Broker prefix, e.g., "x" for xEURUSD |
| Symbol Suffix | (empty) | Broker suffix, e.g., ".pro" for EURUSD.pro |
| Enable M1 | false | Toggle M1 scanning |
| Enable M5 | true | Toggle M5 scanning |
| Enable M15 | true | Toggle M15 scanning |
| Enable M30 | true | Toggle M30 scanning |
| Enable H1 | true | Toggle H1 scanning |
| Enable H4 | true | Toggle H4 scanning |
| Enable D1 | true | Toggle D1 scanning |
| Enable W1 | true | Toggle W1 scanning |
| Enable MN | false | Toggle Monthly scanning |
| Visible Rows | 12 | Rows displayed in dashboard at once |
Bat Pattern Settings
| Parameter | Default | Description |
|---|---|---|
| Pivot Left Bars | 5 | Bars left for swing pivot confirmation. Higher = major swings only |
| Pivot Right Bars | 5 | Bars right for swing pivot confirmation. Ensures non-repainting |
| XAB Min Retracement | 0.382 | Minimum XAB ratio (38.2% of XA) |
| XAB Max Retracement | 0.50 | Maximum XAB ratio (50% of XA) |
| ABC Min Retracement | 0.382 | Minimum ABC ratio (38.2% of AB) |
| ABC Max Retracement | 0.886 | Maximum ABC ratio (88.6% of AB) |
| BCD Min Extension | 1.618 | Minimum BCD extension (161.8% of BC) |
| BCD Max Extension | 2.618 | Maximum BCD extension (261.8% of BC) |
| XAD Ratio | 0.886 | Target XAD retracement (88.6% of XA) -- key Bat ratio |
| XAD Tolerance | 0.05 | Tolerance for XAD validation (±5%) |
| Max History Bars | 500 | Historical bars to scan per symbol-timeframe |
Chart Display Settings
| Parameter | Default | Description |
|---|---|---|
| Show Bat Pattern | true | Draw yellow triangle pattern overlay on chart |
| Show BUY/SELL Arrows | true | Display BUY/SELL ENTRY arrows at point D |
| Show Pattern Labels | true | Display X, A, B, C, D labels at swing points |
| Bullish Pattern Color | Lime | Color for bullish (BUY) elements |
| Bearish Pattern Color | Red | Color for bearish (SELL) elements |
| Pattern Fill Color | Yellow | Fill color for triangles |
| Pattern Line Color | Black | Line color connecting X-A-B-C-D |
| Arrow Size | 4 | Entry arrow size (scale 1-5) |
| Arrow Gap (ATR mult.) | 0.8 | Arrow distance from D point as ATR multiplier |
Alert Settings
| Parameter | Default | Description |
|---|---|---|
| Alert Title | "Bat Harmonic Dashboard" | Title prefix for alert messages |
| Enable Popup Alerts | true | Show popup dialog on new pattern |
| Enable Sound Alerts | true | Play WAV sound on new pattern |
| Sound File | alert2.wav | WAV file in MT4/MT5 Sounds folder |
| Enable Email Alerts | false | Send email on new pattern (requires email config) |
| Enable Push Notifications | true | Send mobile push via MT4/MT5 app |
IMPORTANT: The source code uses InpAlertTitle = "Bat Harmonic Dashboard" as the default alert title. Alerts fire only once per pattern per symbol-timeframe to prevent duplicate notifications.
Chart Pattern Visualization
When a Bat pattern is detected on the current chart symbol and timeframe, the indicator draws the following visual elements:
Yellow Triangle Fill
Three filled triangles are drawn to highlight the five-point pattern structure:
- Triangle 1 (XAB): Connects points X, A, and B with a yellow filled area
- Triangle 2 (ABC): Connects points A, B, and C with a yellow filled area
- Triangle 3 (BCD): Connects points B, C, and D with a yellow filled area
The triangles use the configurable Pattern Fill Color (default: Yellow). Black lines ( Pattern Line Color ) connect X to A, A to B, B to C, and C to D to outline the pattern.
X/A/B/C/D Point Labels
Each swing point is labeled with red text:
- X -- Origin point of the pattern
- A -- End of the first leg (XA)
- B -- End of the retracement leg (AB)
- C -- End of the second retracement leg (BC)
- D -- Pattern completion point (entry zone)
Labels are positioned slightly offset from the price point to avoid overlapping with candlesticks.
BUY ENTRY / SELL ENTRY Arrows
At point D, a large arrow is drawn to indicate the signal direction:
- Bullish (BUY): An upward-pointing arrow in Lime (green) color, placed below the D point
- Bearish (SELL): A downward-pointing arrow in Red, placed above the D point
The arrow size is configurable (default: 4 on a 1-5 scale) and the distance from price is controlled by the Arrow Gap parameter (default: 0.8 x ATR).
TIP: If the yellow triangles or arrows are too large or too small for your screen, adjust the Arrow Size and Arrow Gap parameters. For higher timeframes (H4, D1), you may want a larger arrow size to keep signals visible.
Alert Configuration
Alert Message Format
When a new Bat pattern is detected, the alert message contains all essential information:
Bat Harmonic Dashboard: EURUSD BULLISH BAT (BUY) pattern on H1
The message tells you: the symbol, the pattern type (Bullish or Bearish), the trading direction (BUY or SELL), and the timeframe.
Setting Up Email Alerts
- Go to Tools > Options > Email and configure your SMTP server
- Send a test email to verify, then set Enable Email Alerts to true
Setting Up Push Notifications
- Install the MetaTrader mobile app and find your MetaQuotes ID in Settings
- In desktop MetaTrader, go to Tools > Options > Notifications and enter the ID
- Click "Test" to verify, then set Enable Push Notifications to true
Alert Best Practices
- Keep Popup and Sound Alerts enabled for immediate desk notification
- Use Push Notifications for mobile alerts when away from the computer
- Email Alerts create a useful log of all detected patterns
- Alerts fire once per pattern per symbol-timeframe to prevent duplicates
Trading Strategies
Strategy 1: Direct Entry at Point D
- Wait for a new Bat pattern on the dashboard (Age = 1-2)
- Click Chart to view the pattern and verify the triangles and labels look clean
- Enter at the current price near point D
- Stop Loss: Beyond D by a buffer (e.g., 1x ATR). For Bullish Bat, stop below D but above X
- Take Profit: Target B level first, then C or A level for extended targets
- Typical risk-reward: 1:1.5 to 1:3 depending on pattern geometry
Strategy 2: Confirmation Entry
Wait for price confirmation before entering:
- Note the D point level when a new Bat pattern appears
- For Bullish: wait for a bullish close above the D-bar high. For Bearish: wait for a bearish close below the D-bar low
- Enter after the confirmation candle closes
- Stop Loss: Below D (Bullish) or above D (Bearish)
- Take Profit: B level first, A level as extended target
Slightly worse entry price but significantly fewer false signals.
Strategy 3: Multi-Timeframe Confluence
Find patterns aligning across multiple timeframes:
- Look for the same symbol showing Bat patterns on two or more timeframes (e.g., EURUSD Bearish Bat on H1 and H4)
- Enter on the lower timeframe pattern in the direction confirmed by the higher timeframe
- Use the higher timeframe B and A levels as extended targets
TIP: Multi-timeframe confluence is one of the strongest filters for Bat pattern trading. When the dashboard shows the same direction on two or more timeframes for a symbol, the probability of a successful reversal increases significantly.
Pivot & Ratio Tuning
Adjusting Pivot Sensitivity
These parameters control how significant a swing must be to qualify as an X, A, B, C, or D point:
| Setting | Pivot Bars | Effect | Best For |
|---|---|---|---|
| Aggressive | 3-4 | Finds minor swings, more patterns, faster detection | Scalping M1-M15 |
| Default | 5 | Balanced between quality and quantity | Day trading M15-H4 |
| Conservative | 7-10 | Only major swings, fewer but higher-quality patterns | Swing trading H4-D1 |
Adjusting Bat Fibonacci Ranges
| Trading Style | XAB Range | ABC Range | BCD Range | XAD Tolerance | Patterns Found |
|---|---|---|---|---|---|
| Strict | 0.40 - 0.48 | 0.50 - 0.786 | 1.80 - 2.40 | 3% | Few, high quality |
| Default | 0.382 - 0.50 | 0.382 - 0.886 | 1.618 - 2.618 | 5% | Balanced |
| Relaxed | 0.35 - 0.55 | 0.30 - 0.90 | 1.50 - 3.0 | 8% | Many, wider criteria |
Recommendations by instrument type:
- Major Forex Pairs: Default settings work well. Clean harmonic patterns with reliable Fibonacci relationships
- Minor/Exotic Forex: Slightly relaxed settings (XAD tolerance 6-8%) as price action is less uniform
- Gold/Silver (XAUUSD, XAGUSD): Default or slightly strict. Metals produce well-defined Bat patterns
- Crypto (BTCUSD, ETHUSD, SOLUSD): Relaxed settings (XAD tolerance 8%) due to higher volatility
- Indices (US500, US30): Default settings. Index patterns tend to be well-formed
Max History Bars
| Value | Effect | Best For |
|---|---|---|
| 200 | Faster calculation, only recent patterns | Scalping, low-resource systems |
| 500 (default) | Good balance of depth and performance | Most trading scenarios |
| 1000+ | Finds larger patterns spanning many bars | Higher timeframes (D1, W1) |
Broker Symbol Configuration
Many brokers add prefixes or suffixes to symbol names. If your broker's EURUSD appears differently in Market Watch, configure the prefix and/or suffix:
Common Examples
| Broker Symbol | Prefix | Suffix |
|---|---|---|
| EURUSD | (empty) | (empty) |
| xEURUSD | x | (empty) |
| EURUSD.pro | (empty) | .pro |
| mEURUSD.i | m | .i |
| EURUSD_SB | (empty) | _SB |
How to Configure
- Open Market Watch (Ctrl+M) and note the exact symbol name (e.g., "EURUSDpro")
- Identify the prefix (before "EURUSD") and suffix (after "EURUSD")
- Enter prefix in Symbol Prefix , suffix in Symbol Suffix
- In Symbols , enter base names without prefix/suffix: EURUSD,GBPUSD,USDJPY
The indicator automatically combines prefix + base name + suffix to find correct symbols.
TIP: If your dashboard shows "---" for all entries, the most common cause is incorrect symbol names. Check Market Watch and verify your prefix/suffix settings match your broker's naming convention.
Troubleshooting
Dashboard Shows "---" for All Entries
Possible causes:
- Wrong symbol names: Verify symbols match your broker's naming in Market Watch (Ctrl+M)
- Missing prefix/suffix: Set Symbol Prefix and Symbol Suffix to match your broker
- Symbols not loaded: Add missing symbols via Market Watch > right-click > Symbols
- No patterns found: Try increasing Max History Bars
No Arrows or Triangles on Chart
- Verify Show Bat Pattern and Show BUY/SELL Arrows are set to true
- Ensure chart symbol is in your monitored symbols list and timeframe is enabled
- If the dashboard row shows "---", no active pattern exists for that symbol-timeframe
Alerts Not Working
- Popup not appearing: Check Enable Popup Alerts is true and MT4/MT5 allows alerts (Tools > Options > Events)
- No sound: Verify sound file exists in the Sounds folder
- Email not received: Configure email in Tools > Options > Email first
- Push not received: Verify MetaQuotes ID in Tools > Options > Notifications
Indicator Loads Slowly
- Reduce monitored symbols or disable unneeded timeframes (e.g., M1, MN)
- Reduce Max History Bars from 500 to 200-300
- The first load is always slower; subsequent calculations are faster
FAQ
Q: Does this indicator repaint? A: No. The indicator uses confirmed swing pivots requiring Pivot Right Bars (default: 5) bars of right-side confirmation. Once displayed, patterns never change or disappear.
Q: Can I use this on any symbol? A: Yes. It works on any symbol in your MetaTrader terminal -- forex, metals, crypto, indices, and more.
Q: What timeframes work best? A: The indicator works on all timeframes from M1 to Monthly. For day trading, M15-H1 provides good frequency and quality. For swing trading, H4-D1 provides higher-quality patterns. The Bat pattern performs especially well on H1 and H4.
Q: How many symbols can I monitor? A: Up to 20 symbols simultaneously. Enter them as a comma-separated list in the Symbols parameter.
Q: Does the indicator provide Entry, Stop Loss, and Take Profit levels? A: The indicator identifies the D point (entry zone) but does not calculate specific SL/TP levels. Set your stop loss beyond D and target the B or A level for take profit based on your risk management rules.
Q: What is the difference between the MT4 and MT5 versions? A: Both use identical detection logic. The MT5 version uses handle-based calculations and input group organization. Functionality and output are the same.
Q: How do I know if a pattern is still valid? A: Check the Age column. Low Age values (1-5 bars) are freshest. As Age increases, the entry window may have passed. Also check if price has moved significantly from D.
Q: Can I adjust the Fibonacci ratios? A: Yes. All Fibonacci ranges are fully configurable. You can adjust XAB Min/Max Retracement, ABC Min/Max Retracement, BCD Min/Max Extension, XAD Ratio, and XAD Tolerance to match your preferred harmonic trading style.
Q: How does the Bat pattern differ from the Gartley pattern? A: Both are 5-point XABCD harmonic patterns, but they differ in key Fibonacci ratios. The Bat has an XAD retracement of 88.6% vs the Gartley's 78.6%, making the Bat a deeper retracement pattern. The Bat's XAB ratio is 38.2%-50%, while the Gartley requires 61.8%. The deeper D-point retracement often provides tighter stop-loss placement relative to X, improving risk-reward ratios.
Download the indicator:
- MetaTrader 5: Bat Harmonic Dashboard MT5
- MetaTrader 4: Bat Harmonic Dashboard MT4
Support & Contact
If you need help with the Bat Harmonic Dashboard Indicator:
Product Pages:
- MetaTrader 5: Bat Harmonic Dashboard MT5
- MetaTrader 4: Bat Harmonic Dashboard MT4
Contact:
- Developer: Forexobroker - Dominic Walsh
- Website: www.forexobroker.com
- MQL5 Profile: Use the "Message" button on the product page to contact the developer directly
Getting Help:
- Use the Comments section on the product page for general questions
- Use the private Message feature for account-specific issues
- Include your MetaTrader version (MT4 or MT5) and broker name when reporting issues
Risk Disclaimer
Trading foreign exchange, metals, cryptocurrencies, and other financial instruments on margin carries a high level of risk and may not be suitable for all investors. Before deciding to trade, carefully consider your investment objectives, level of experience, and risk appetite.
The Bat Harmonic Dashboard Indicator is a technical analysis tool that identifies patterns in historical price data. It does not guarantee future results. Past performance is not indicative of future results.
Key Risk Considerations:
- Never risk more than 1-2% of your account on a single trade
- Always use stop losses
- Practice on a demo account before trading with real money
- The indicator identifies patterns; it does not make trading decisions for you
- Harmonic patterns have a statistical edge but do not work 100% of the time
The developer and publisher accept no liability for any trading losses incurred while using this product. Use it at your own risk.
