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Harmonic Patterns Indicator

Harmonic Patterns Indicator draws harmonic patterns on chart.

Harmonic Patterns have a high hit-rate of around 80% and are excellent for trade entries.

They are used as price reversal points.

Some of them have a long history of usage and were created by famous traders like H. M. Gartley.

Many harmonic patterns are included in this indicator.

The patterns include:

  • AB=CD
  • Perfect AB=CD
  • Reciprocal AB=CD
  • Three Drives
  • 5-0
  • Gartley
  • Perfect Gartley
  • Anti Gartley
  • Bat
  • Perfect Bat
  • Alternate Bat
  • Anti Bat
  • Butterfly
  • Perfect Butterfly
  • Anti Butterfly
  • Crab
  • Perfect Crab
  • Deep Crab
  • Anti Crab
  • White Swan
  • Black Swan
  • Nen Start
  • Anti Nen Star
  • Shark
  • Alternate Shark
  • Anti Shark
  • Anti Alternate Shark
  • Cypher
  • Anti Cypher


Indicator Parameters

ZigZag Indicator Parameters:

  • Depth
  • Deviation
  • Backstep

Pattern Selection:

  • Pattern - You can choose the pattern type you want to be drawn on chart.

Manual Settings:

  • AB_Min - Minimum Fibonacci retracement of XA leg which produces AB leg.
  • AB_Max - Maximum Fibonacci retracement of XA leg which produces AB leg.
  • BC_Min - Minimum Fibonacci retracement of AB leg which produces BC leg.
  • BC_Max - Maximum Fibonacci retracement of AB leg which produces BC leg.
  • CD_Min - Minimum Fibonacci retracement of BC leg which produces CD leg.
  • CD_Max - Maximum Fibonacci retracement of BC leg which produces CD leg.
  • AD_Min - Minimum Fibonacci retracement of XA leg which produces AD leg.
  • AD_Max - Maximum Fibonacci retracement of XA leg which produces AD leg.

Number of Bars:

  • Max_Bars - Number of bars in chart to check for patterns.
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Version 1.1 - 2017.01.09
1. Added Objects_Delete function, which allows you to remove objects created by the indicator when it is removed from chart.
If set to False, the function lets the indicator be fully non-repainting.

2. Changed the objects' names to include the pattern name.