Butterfly Harmonic Dashboard MT4

I built the Forex Butterfly Harmonic Dashboard because manually identifying true Butterfly extension patterns across multiple pairs and timeframes was taking hours — and I was still constantly confusing them with Gartley setups and missing the best extension moves.

This is a professional multi-symbol, multi-timeframe scanner that automatically detects Butterfly harmonic patterns across your entire watchlist using strict 4-level Fibonacci ratio validation, with the critical requirement that D extends BEYOND the origin point X — the single characteristic that defines a true Butterfly. It runs continuously in the background and displays every confirmed pattern in one clean, organised dashboard.

Every signal is confirmed on a closed bar with full left and right pivot confirmation. Once a Butterfly pattern appears on the dashboard, it will never disappear or change.

See more MT5 version at: Butterfly Harmonic Dashboard MT5

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What Makes the Butterfly Pattern Unique?

The Butterfly pattern, discovered by Bryce Gilmore and refined by Scott Carney, is a 5-point XABCD extension harmonic structure. Unlike the Gartley where D stays between X and A, the Butterfly's Point D extends 127%-161.8% BEYOND the origin point X — creating explosive reversal opportunities with larger profit potential because you're catching the full extension move, not just a retracement.

Bullish Butterfly — D extends below X. Price may reverse upward at D. Entry at D, targets at A then C level.

Bearish Butterfly — D extends above X. Price may reverse downward at D. Entry at D, targets at A then C level.

My indicator validates every pattern against all four precise Fibonacci criteria:

• XAB Retracement: 78.6% of XA (±tolerance) — more specific than Gartley's 61.8%

• ABC Retracement: 38.2% - 88.6% of AB

• BCD Extension: 161.8% - 261.8% of BC

• XAD Extension: 127% - 161.8% of XA — D must extend BEYOND X

If D does not extend beyond X, the pattern is automatically rejected. This single requirement eliminates 90% of false signals from generic harmonic indicators. Only patterns meeting all four criteria appear on the dashboard.

How It Works

Step 1 — Add to any chart
Drop the indicator on any chart. Enter your symbols and enable preferred timeframes. Default settings match Scott Carney's official Butterfly ratios and work immediately.

Step 2 — Automatic scanning
I continuously scan all selected symbols across enabled timeframes using swing pivot detection and full 4-ratio Fibonacci validation — including automatic confirmation that D extends beyond X.

Step 3 — Pattern confirmed
When a valid Butterfly completes at Point D on a confirmed closed candle with pivot bars on both sides — I add it to the dashboard and send your chosen alert instantly.

Step 4 — Instant analysis
Click any dashboard row to jump to that symbol/timeframe. I draw the complete XABCD structure with yellow-filled triangles and clear X,A,B,C,D labels so you can verify the extension beyond X at a glance.

Dashboard Display

Each confirmed Butterfly shows:

• Symbol — trading instrument

• Timeframe — detection timeframe

• Direction — Bullish/Bearish at Point D

• Pattern Age — bars since confirmation

• Chart — one-click button to signal location

Key Features

D-beyond-X validation — Automatically confirms D extends 127%-161.8% beyond origin X. Rejects all Gartley-type retracement patterns automatically. No false Butterflies

Multi-symbol scanning — Monitor up to 20 instruments simultaneously — forex pairs, gold, indices, crypto, anything available in your terminal

Full timeframe coverage — M1 through Monthly, all scanned together at once

4-level Fibonacci validation — XAB, ABC, BCD, and XAD all validated simultaneously on every pattern before it is shown

Non-repainting signals — Confirmed on closed bars with pivot confirmation on both sides. What you see is what was there in real-time

Complete XABCD visualisation — Yellow-filled triangles connecting all five pivot points with clear X,A,B,C,D labels on every chart

Real-time alerts — Popup, sound, email, and mobile push notifications the moment a pattern confirms

One-click navigation — Instantly jump to any signal's chart, symbol, and timeframe with a single click

Active signal filter — Display only confirmed Butterflies sorted newest first for fast watchlist review

Full customisation — All Fibonacci ratios, tolerances, colours, arrow sizes, and pivot sensitivity fully adjustable

Input Parameters

• Symbols List — Comma-separated symbols (up to 20)

• Timeframes — Enable/disable M1-Monthly individually

• XAB Ratio — B retracement of XA (default 78.6%)

• XAB Tolerance — Allowable deviation from 78.6%

• ABC Min/Max — AB retracement range (default 38.2%-88.6%)

• BCD Min/Max — BC extension range (default 161.8%-261.8%)

• XAD Min/Max — XA extension range (default 127%-161.8%)

• XAD Tolerance — Allowable deviation on XAD extension

• PivotLeft/PivotRight — Swing detection sensitivity (default 5/5)

• Alert on Current Bar — False prevents repainting

• Popup Alerts — Enable/disable on-screen popup notifications

• Sound Alerts — Enable/disable sound notifications

• Email Alerts — Enable/disable email notifications

• Push Alerts — Enable/disable mobile push via MetaQuotes ID

• Visual settings — Triangle colour, label colour, dashboard corner position

Butterfly vs Gartley — Why the Distinction Matters

Many traders fail with harmonics by applying the wrong ratios to the wrong pattern. Using Gartley ratios on a Butterfly — or vice versa — produces invalid signals and unnecessary losses. The two patterns are fundamentally different in structure and purpose.

The Butterfly is an extension pattern — D moves beyond the origin point X, creating larger profit potential by catching the full extension move. The Gartley is a retracement pattern — D stays between X and A, offering a smaller but more frequent trade structure.

The XAB ratio is also completely different. Butterfly uses 78.6% while Gartley uses 61.8%. Applying one pattern's ratios to the other produces false signals every time. My indicator uses the correct 78.6% XAB ratio specifically for Butterfly detection and automatically rejects any pattern where D does not extend beyond X — so you never confuse the two patterns again.

Who This Is For

Extension pattern traders — If you trade moves that go beyond the origin, the Butterfly is your pattern. I find exactly these setups automatically across your entire watchlist

Harmonic beginners — Confused by Butterfly vs Gartley? I handle all the complex ratio validation and show you exactly what a proper Butterfly looks like on your chart with clear labels

Multi-symbol traders — One dashboard replaces hours of manual chart scanning. Everything is in one place, updated in real-time

Part-time traders — Mobile alerts catch Butterfly completions while you are away from the screen. Check your phone during a break and decide whether to act

System builders — Non-repainting, closed-bar confirmed signals give you a reliable foundation for developing and backtesting a consistent trading process

Frequently Asked Questions

Does it repaint?
No. Patterns only appear after all 5 pivot points are confirmed with pivot bars on both sides. Once a Butterfly appears on your dashboard, it never changes, moves, or disappears. You can backtest with complete confidence.

What is the difference between Butterfly and Gartley?
In a Butterfly, D extends BEYOND point X at 127%-161.8% of XA. In a Gartley, D stays between X and A at 78.6% of XA. Butterfly also uses a 78.6% XAB ratio versus Gartley's 61.8%. My indicator detects only true Butterflies where D has extended beyond X — never confusing the two.

Why fewer signals than standard indicators?
True Butterflies require D to extend beyond X plus three additional Fibonacci ratios — a strict 4-level check. This produces fewer but significantly higher-quality signals than oscillator-based tools. Every signal shown has a clear mathematical basis.

What symbols can I monitor?
Any symbol available in your MetaTrader terminal — forex pairs, XAUUSD, silver, stock indices such as US30 and NAS100, cryptocurrencies, and commodities. Just enter the symbol names in the Symbols List input.

Can I adjust the Fibonacci parameters?
Yes — XAB ratio, XAB tolerance, ABC range, BCD range, XAD range, and XAD tolerance are all fully adjustable. Defaults follow Scott Carney's official Butterfly specification and work well across most instruments and timeframes.

How do I set up mobile alerts?
Enable Push Alerts in the settings, then add your MetaQuotes ID in the MetaTrader options under the Notifications tab. Full step-by-step instructions with screenshots are included in the user guide.

Are future updates included?
Yes. Every future update is delivered to you at no additional cost, permanently.

Is support available?
Yes. A detailed installation and configuration guide with screenshots is included. If you need further help, reach out and I will personally assist you.

Signal Frequency Note

True Butterfly patterns require D to extend beyond X plus a precise 78.6% XAB ratio — which makes them less frequent than simpler single-condition patterns. Higher timeframes such as H4 and D1 produce fewer but structurally larger extension moves with greater profit potential. Lower timeframes such as M15 and H1 generate more frequent signals. Enabling more symbols and timeframes naturally increases the total number of Butterflies displayed across your dashboard at any given time.