QM Pattern Indicator MT5
- Indicators
- Eda Kaya
- Version: 2.1
QM Pattern Indicator MetaTrader 5
The Quasimodo Pattern (QM Pattern) Indicator is a classic chart pattern tool for MetaTrader 5 designed to detect and display QM and Reverse QM patterns. These patterns are crucial for market analysis, especially in the RTM style, helping traders recognize high-probability reversal zones. The QM pattern is displayed in blue, and the Reverse QM pattern in red, providing clear visual cues for effective trading decisions.
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QM Pattern Indicator Table
| Category | Price Action – Classic and Chart Patterns – Educational Indicator |
| Platform | MetaTrader 5 |
| Skill Level | Intermediate |
| Indicator Type | Lagging – Power |
| Time Frame | Multi-Time Frame |
| Trading Style | Scalping – Day Trading – Intraday Trading |
| Trading Markets | Forex – Commodities – Indices – Stocks |
Overview of the QM Pattern Indicator
The QM Pattern Indicator is a valuable tool for RTM traders to identify and confirm Quasimodo patterns, which are reliable reversal signals. Traders typically enter buy or sell trades after the neckline of the pattern is broken, capturing trend reversals for profitable entries.
Reverse QM Pattern – Bullish Trend
On the 15-minute GBP/USD chart, the indicator identifies the Reverse QM pattern using ZigZag analysis and marks it in red. When the neckline breaks, the price rallies sharply upward, signaling a strong bullish move.
QM Pattern – Bearish Trend
On the 15-minute USD/CHF chart, the QM pattern forms through a series of consecutive highs and lows. The indicator highlights this pattern in blue. After the neckline breaks, a strong downward price movement typically follows, offering traders a sell opportunity.
QM Pattern Indicator Settings
· Show Zig Zag Line: Enable or disable ZigZag lines
· Pivot Period of ZigZag Line: Adjust pivot sensitivity for ZigZag calculation
· ZigZag Line Style: Customize line style
· ZigZag Line Color: Set line color
· ZigZag Line Width: Define line thickness
· Show QM: Enable or disable QM pattern display
· QM Color: Set color for QM pattern
· Reverse QM Color: Set color for Reverse QM pattern
Conclusion
The Quasimodo Pattern Indicator is an essential price action tool on MetaTrader 5 that assists traders in spotting QM and Reverse QM patterns with ease. By integrating this indicator into their strategy, traders can better time entries based on reliable reversal setups, improving trade accuracy and confidence.
