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  • Reviews (13)
  • Comments (36)
  • What's new

Harmonic Butterfly

The indicator detects and displays М. Gartley's Butterfly pattern. The pattern is plotted by the extreme values of the ZigZag indicator (included in the resources, no need to install). After detecting the pattern, the indicator notifies of that by the pop-up window, a mobile notification and an email. The pattern and wave parameters are displayed on the screenshots. The default parameters are used for demonstration purposes only in order to increase the amount of detected patterns.


  • zzDepth, zzDev, zzBack - ZigZag parameters
  • factorAB_min, factorAB_max - minimum and maximum ratio of AB and AX levels (see the screenshot)
  • factorBC_min, factorBC_max - minimum and maximum ratio of BС and AB levels (see the screenshot)
  • factorCD_min, factorCD_max - minimum and maximum ratio of CD and BC (see the screenshot)
  • factorAD_min, factorAD_max - minimum and maximum ratio of AD and AX (see the screenshot)
  • bearColor - bearish pattern color
  • bullColor - bullish pattern color
  • CountBars - limit the amount of bars to be processed by the indicator (reduces the initial download time)
  • UseAlert - enable pop-up messages
  • UseNotification - enable push notifications
  • UseMail - enable email notifications
Shaheen Hassanali
Shaheen Hassanali 2018.12.02 15:35   

Interesting indicator

sunnychow 2018.11.05 18:23 

Good tools for analysis.

Alex Winner
Alex Winner 2018.09.01 20:29 

Identifying harmonic patterns is a powerful tool in trading. The product is free. Thank you!

Matthew Todorovski
Matthew Todorovski 2018.06.30 13:24 

1 Star (20%) = Bad

2 Star (40%) = Undecided

3 Star (60%) = Acceptable

4 Star (80%) = Good

5 Star (100%) = Excellente!

Mauro Giuseppe Tondo
Mauro Giuseppe Tondo 2018.06.05 22:59 

User didn't leave any comment to the rating

Tim Eubanks
Tim Eubanks 2018.03.13 04:12 

Very nice Harmonic indicator

Mohammad Soubra
Mohammad Soubra 2017.09.27 00:33 


Gennadiy Voltornist
Gennadiy Voltornist 2017.04.12 19:58 

User didn't leave any comment to the rating

aleks.espinoza 2017.03.06 23:45 

User didn't leave any comment to the rating

redneedle 2016.09.06 19:15 

если по тренду то хороший инструмент

Maksym Mudrakov
Maksym Mudrakov 2016.08.29 11:51 

В сочетании с другими индикаторами, которые определяют паттерны, даёт очень качественные сигналы.

chriss100 2016.06.04 11:58 

Very good free indicator but would love to see multiple timeframe pattern detection!

vahid jannati
vahid jannati 2016.03.03 19:15 

good choice for harmonic trader and nice free indicator

Version 2.3 2016.04.27
Added the 'TimeFrame' parameter - now the chart displays the patterns not only of the current, but also from the higher timeframe.
Version 2.2 2016.04.12
- Buy and sell signals allocated among the indicator buffers
- Added ShowPredict parameter to hide a forming pattern
Version 2.1 2016.03.24
New input patterPreset - choosing standard proportions for the shapes: Gartley, Crab, Bat, Butterfy. Manual configuration works if patterPreset = MANUAL.
New input MessageAdd - the text to be added to alerts.
Version 2.0 2016.03.10
- Added display of the pattern at the stage of its formation. Displayed by triangle outlines.
- Added display of potential reversal area at the formed pattern.
- Added parameter 'prefix' for the correct display of several instances of the indicator on one chart. Enter different strings for different charts.
Version 1.1 2016.02.19
Fixed text messages. Disabled display of excessive debugging data.