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Monster Harmonic Indicator

Monster Harmonics Indicator is a harmonic pattern indicator. It recognizes Gartley, Bat, Crab, Butterfly, Cypher, White Swan, Black Swan, Shark and AB=CD patterns. Projected patterns that are not yet completed are recognized, too. Monster even shows the PRZ (Potential Reversal Zone).

Users can add their own user defined patterns to Monster.

Besides the current pattern, Monster also shows all patterns in the symbols history.

Monster will provide alerts for developing patterns.

Introduced by H.M. Gartley and popularized by Scott M. Carney, harmonic patterns are one of the best instruments in the traders' toolkit. While the underlying Fibonacci projections and ratios are fairly complex, this indicator makes detection and discovery of the harmonics patterns easy. Monster gives you the right tool to become a better Harmonics trader.


Settings

Monster's default settings are good enough most of the time. Feel free to fine tune them to your needs.

  • Show Control Panel? - show/hide control panel.
  • Show Pattern Projections? - show/hide projected patterns.
  • Minimum Accuracy Percent - minimum accuracy percentage for pattern recognition.
  • Price Must Touch All Minimum Ratios - set to true to force Monster to touch all minimum ratios, set this if you want the price to touch all minimum ratios and provide even better patterns.
  • Show 'PatternName' Patterns? - show/hide specific pattern.
  • Show Pattern Label? - set to true to show the pattern label in the chart.
  • Show Pattern Accuracy? - set to true to show the pattern accuracy in the chart.
  • Show Initialization User Patterns? - set to true to show the results of the intialization of the user patterns in the Experts tab.
  • Show Fibonacci Projections in PRZ? - show/hide Fibonacci projections in PRZ.
  • Show Perfect Ratio Levels? - show/hide perfect Fibonacci projections in different color.
  • Show Risk/Reward in PRZ? - show/hide risk/reward PRZ.
  • Show Alerts? - enable/disable all alerts.
  • Show Screen Alerts? - show/hide screen alerts.
  • Email Alerts? - set to true to email alerts.
  • Push Alert Notifications? - set to true to push alerts.
  • Color Palette - choose a color palette for a 'Dark' or 'Light' background.
  • colo(u)rs - you know what to do.
  • Zigzag parameters - set ZigZag parameters.

Perfect Fibonacci projections are the Fibonacci retracement levels where the pattern should retrace or stop according to its definition.

The Potential Reversal Zone (PRZ) is split in a Risk and Reward part. The Reward part of the PRZ is the price of the D point of the pattern to the 0.382 Fibonacci retracement from the C or A point (whichever is higher or lower).


User Patterns

Users can add their own patterns to Monster. Just modify the Monster_UserPatterns.csv to include your patterns. The .csv file can be found in the files folder of the User Data Directory. A sample pattern is already included in the file.


Control Panel

Beginning from the version 2.300, Monster features an optional Control Panel. The Control Panel shows the current detected pattern. You can enable and disable projected patterns and the PRZ. Keep in mind that Monster updates your new settings on the next tick, so changes can take some seconds. The Control Panel can be dragged and minimized. Removing the Control Panel removes the indicator entirely.


Free Demo

Monster will work in the Strategy Tester. However, only the last pattern, if any, in the virtual price feed is detected and displayed. This is a limitation of the Strategy Tester. Monster is best tested in Visual Mode as you can see the detected patterns in the display. Try USDJPY on H1 starting April 1, 2015.


Developers

Monster publishes the current pattern through the iCustom() function. See the sample code at the comment #273 (page 14) of the Comments section.


Loose Ends

Monster will only repaint the last point of the pattern (the D point) to its definition, it follows price. Other points (X, A, B, C) are not repainted.


Do not hesitate to contact me. Let me know what you think of Monster. Only with your help, I can create better tools for MT4.
berkturker
171
2017.02.11 12:54 
 

Excellent indicator, very helpful

pnutfx503
279
2017.02.10 23:24 
 

Does everything that it's supposed to do very good. Use it right and it's free.

pluginfx
81
2017.01.27 04:53 
 

use with AO Indicator to confirm is so good.

Nikolay Granadskiy
242
2017.01.13 11:35 
 

Хороший индикатор. Если правильно применить настройка и соблюдать риски, то прибыль будет безусловно.

Новичкам не подойдет. Нужен опыт торговли и своя торговая стратегия.

Qingshan Li
345
2016.09.05 22:18 
 

this is a great indicator, I rent for month to test first and looking for discount to get this indicator. THanks Paul for your hard work .

Gursimran Singh Bharaj
149
2016.07.21 06:06 
 

it is an excellent indicator for trading harmonic patterns. but before buying i request all of you to know and read about harmonic patterns. it is not a holy grail but a tool that can be used in your arsenal. overall a very good product.

darktideac2
259
2016.04.08 11:18 
 

Best harmonics indicator I have seen so far!

et6688
918
2016.02.27 02:02 
 

High quality indicator, provides all the key metrics for harmonic trading with flexible settings. Paul's support is very good, and he is continuously improving and developing his products which is very pleasing to see.

Thank you Paul!

zielbin
29
2016.01.12 16:21 
 

Great value indicator. It shows all patterns as it should. A lot of parameters can be customize. Nice visibility, all pattern values, TP, SL, variant targets are shown on the chart. Very good contact and help from author. Thanks

faithl3ss
78
2015.10.04 23:01 
 

this is one of the best Harmonic Pattern Indicator out there I've ever use. For real.

202033
211
2015.09.04 17:27 
 

I am renting this for a month because I am new to harmonic patterns (although love using my fib tool). I am extremely impressed! The projected patterns have been accurate as have the actual pattern SL and TP levels. Currently testing it on demo on forex and commodities, it has worked on both. If the rest of the month carries on with this level of success I will definitely buy this indicator. Highly recommended.

Olivier Nomblot
4424
2015.07.19 11:59 
 

Good Indicator clearly sits on my charts normal and more importantly Renko . It is a nice visual compliment to my EA . Highly recommended. Cant wait for the new patterns !

aussiedoc
41
2015.06.24 03:15 
 

Paul, thanks very much for this great indicator. I use it to trade daily from both my desktop or laptop when I travel. Cheers Doc

Hanfei Zhu
150
2015.03.07 15:05 
 

Lovely interface -- clean and easy.

Looking forward to using this. Thanks for your wonderful work.

hamed raji
145
2015.02.26 11:38 
 

Very usefull indicator.

Version 3.0 - 2016.10.18
* Ghost patterns issue resolved
* Pattern and accuracy label optimized
* User patterns from .csv file
* iCustom buffers introduced
Version 2.700 - 2015.10.26
* Dragon pattern
* Issue with repainting patterns resolved
* New user setting 'Maximum Number of Bars to Look Back?', default 2000
Version 2.600 - 2015.09.16
Monster Harmonics v.2.6
* Issue with overlapping triangles resolved
* Minor bug in Cypher PRZ resolved
* Optimized function Period() to PeriodSeconds()
* Improved object naming
Version 2.500 - 2015.08.10
New patterns:
- Black Swan
- White Swan
- Shark
- AB=CD
Version 2.400 - 2015.06.05
Strategy Tester compliance.
Version 2.300 - 2015.03.24
- Added control panel
- Optimized accuracy
Version 2.200 - 2014.12.12
- Fixed issue with updating on smaller timeframes.
Version 2.100 - 2014.12.02
- Alerts; Screen, Email & Push.
- Color Palettes: Pick 'Dark' or 'Light' background.
Version 2.0 - 2014.10.31
This is a major upgrade.

* Monster now shows current as well as past patterns
* Optimized code
* Advanced caching
* Improved performance
Version 1.1 - 2014.10.21
* Optimized code
* Added color parameter for pattern label
* Changed PRZ ratio label position
* Added label when no patterns are found