Harmonic Patterns by ZZ MT4

Overview

Harmonic Patterns MT4 is a technical analysis indicator designed for the MetaTrader 5 platform. It identifies and displays harmonic price patterns, such as Butterfly, Cypher, Crab, Bat, Shark, and Gartley, in both bullish and bearish directions. The indicator calculates key price levels, including entry, stop loss, and three take-profit levels, to assist traders in analyzing market movements. Visual elements and customizable alerts enhance usability on the chart.

Features

  • Detects six harmonic patterns: Butterfly, Cypher, Crab, Bat, Shark, and Gartley.

  • Supports bullish and bearish pattern directions.

  • Displays pattern points (X, A, B, C, D) with customizable visibility and color.

  • Plots entry, stop loss, and three take-profit levels with adjustable line styles and colors.

  • Provides alerts for each pattern type, configurable for bullish and bearish occurrences.

  • Uses a ZigZag algorithm to identify significant price points for pattern formation.

  • Allows customization of pattern detection parameters, such as Depth, Deviation, Back Step, and Error Percentage.

Input Parameters

Common Settings

  • Depth: Defines the minimum number of bars for ZigZag calculation (default: 7).

  • Deviation: Sets the minimum price movement for ZigZag points (default: 5).

  • Back Step: Controls the recalculation step for ZigZag (default: 3).

  • Error %: Specifies the acceptable error percentage for pattern detection (default: 0).

Patterns Settings

  • Use Butterfly: Enable/disable Butterfly pattern detection (default: true).

  • Use Cypher: Enable/disable Cypher pattern detection (default: true).

  • Use Crab: Enable/disable Crab pattern detection (default: true).

  • Use Bat: Enable/disable Bat pattern detection (default: true).

  • Use Shark: Enable/disable Shark pattern detection (default: true).

  • Use Gartley: Enable/disable Gartley pattern detection (default: true).

Display Settings

  • Show Pattern Points: Toggle visibility of pattern points (default: true).

  • Pattern Points Color: Set color for pattern point labels (default: Orange).

  • Show Entry Line: Toggle visibility of entry level line (default: true).

  • Entry Line Style: Set style for entry line (default: Dot).

  • Entry Line Color: Set color for entry line (default: Blue).

  • Show Stop Loss Line: Toggle visibility of stop loss line (default: true).

  • Stop Loss Line Style: Set style for stop loss line (default: Solid).

  • Stop Loss Line Color: Set color for stop loss line (default: Red).

  • Show Take Profit #1 Line: Toggle visibility of first take-profit line (default: true).

  • Take Profit #1 Line Style: Set style for first take-profit line (default: Solid).

  • Take Profit #1 Line Color: Set color for first take-profit line (default: LimeGreen).

  • Show Take Profit #2 Line: Toggle visibility of second take-profit line (default: true).

  • Take Profit #2 Line Style: Set style for second take-profit line (default: Solid).

  • Take Profit #2 Line Color: Set color for second take-profit line (default: LimeGreen).

  • Show Take Profit #3 Line: Toggle visibility of third take-profit line (default: true).

  • Take Profit #3 Line Style: Set style for third take-profit line (default: Solid).

  • Take Profit #3 Line Color: Set color for third take-profit line (default: LimeGreen).

Alerts Settings

  • Bull/Bear Butterfly Alert: Enable/disable alerts for bullish/bearish Butterfly patterns (default: true).

  • Bull/Bear Cypher Alert: Enable/disable alerts for bullish/bearish Cypher patterns (default: true).

  • Bull/Bear Crab Alert: Enable/disable alerts for bullish/bearish Crab patterns (default: true).

  • Bull/Bear Bat Alert: Enable/disable alerts for bullish/bearish Bat patterns (default: true).

  • Bull/Bear Shark Alert: Enable/disable alerts for bullish/bearish Shark patterns (default: true).

  • Bull/Bear Gartley Alert: Enable/disable alerts for bullish/bearish Gartley patterns (default: true).


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Specials Discount now. The Next Generation Forex Trading Tool. Dynamic Forex28 Navigator is the evolution of our long-time, popular indicators, combining the power of three into one: Advanced Currency Strength28 Indicator (695 reviews) + Advanced Currency IMPULSE with ALERT (520 reviews) + CS28 Combo Signals (recent Bonus) Details about the indicator  https://www.mql5.com/en/blogs/post/758844 What Does The Next-Generation Strength Indicator Offer? Everything you loved about the originals, now
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