Discussing the article: "Automating Trading Strategies in MQL5 (Part 28): Creating a Price Action Bat Harmonic Pattern with Visual Feedback"
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Check out the new article: Automating Trading Strategies in MQL5 (Part 28): Creating a Price Action Bat Harmonic Pattern with Visual Feedback.
In this article, we develop a Bat Pattern system in MQL5 that identifies bullish and bearish Bat harmonic patterns using pivot points and Fibonacci ratios, triggering trades with precise entry, stop loss, and take-profit levels, enhanced with visual feedback through chart objects
The Bat pattern is a harmonic trading formation defined by five key swing points—X, A, B, C, and D—and exists in two forms: a bullish pattern and a bearish pattern, each designed to identify potential market reversals with precise Fibonacci measurements. In a bullish Bat, the structure forms a low-high-low-high-low sequence where point X is a swing low, point A a swing high, point B a swing low (retracing approximately 0.5 of XA), point C a swing high (extending 0.382 to 0.886 of AB), and point D a swing low (extending 0.886 of XA, positioned above X). Conversely, a bearish Bat forms a high-low-high-low-high sequence, with point X as a swing high, point A a swing low, point B a swing high, point C a swing low, and point D a swing high (extending 0.886 of XA, positioned below X). Below are the visualized pattern types.
Bullish Bat Harmonic Pattern:
Bearish Bat Harmonic Pattern:
Author: Allan Munene Mutiiria