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MonsterDash Harmonic Indicator

4.58

MonsterDash Harmonic Indicator is a harmonic pattern dashboard. It recognizes all major patterns. MonsterDash is a dashboard that displays all detected patterns for all symbols and (almost) all timeframes in sortable and scrollable format. Users can add their own user defined patterns. MonsterDash can open and update charts with the pattern found.


Settings

MonsterDash's default settings are good enough most of the time. Feel free to fine tune them to your needs. The color settings are for those who 'gone to the dark side' (black backgrounds), they are less suitable for white backgrounds.

  • Check pattern every - Set to the frequency to detect and refresh the patterns. This is independent of the chart timeframe.
  • Symbols to exclude - This is a comma delimited list of symbols to exclude from pattern recognition. MonsterDash looks at all symbols in the Market Watch window.
  • Minimum AccuracyPercent - Minimum accuracy percentage for pattern recognition.
  • Price Must Touch All Minimum Ratios - Set to true to force MonsterDash to touch all minimum ratios, set this if you want the price to touch all minimum ratios and provide even better patterns.
  • Show Pattern Projections - Show/hide projected patterns.
  • Check M1, M5, M15, M30, H1, H4, D1, W1, MN1 - Set to true to include the timeframe in the harmonic pattern recognition.
  • Offline timeframes, comma separated - Set to a comma separated list of all offline timeframes (e.g. 2,3). Useful for Renko of Median charts
  • Show Command Column - Set to true to show an column with a button to open a chart.
  • Chart Template - Set to the name of the template (include '.tpl') to apply to the chart to open.
  • Show Alerts - Set to false to disable all alerts.
  • Show Screen Alerts - Set to true to show screen alerts.
  • Email Alerts - Set to true to email alerts.
  • Push Alert Notifications - Set to true to push alerts.
  • Show 'PatternName' Patterns - Show/hide specific pattern.
  • Sort Patterns By - Column to sort the information grid to (one of: NoSort, Pattern, Symbol, Timeframe, Direction, Accuracy, Age, Completion, IsProjected).
  • Sort Direction - Ascending of Descending.
  • monospacedFont - Pick your favorite font, monospaced is best.
  • fontSize - Font size.
  • Show Pattern Label - Set to true to show the pattern name on opened charts.
  • Show Pattern Accuracy - Set to true to show the pattern accuracy label on opened charts.
  • Show Initialization User Patterns? - set to true to show the results of the intialization of the user patterns in the Experts tab.
  • Color Palette - Pick Color Palette for 'Dark' or 'Light' Backgrounds.
  • Colo(u)rs - You know what to do.
  • Zigzag parameters - set ZigZag parameters.


User Patterns

Users can add their own patterns to MonsterDash. 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.


Offline Charts

MonsterDash will read and detect offline charts. Renko or Median charts among others can be used this way. However, offline charts cannot be automatically opened through MonsterDash to show the pattern found, this is a limitation of MetaTrader 4.



Sorting, Scrolling, Opening Charts

The patterns can be sorted on all columns. Click the column headers to sort the grid to the information in the column, click again to reverse the sort. The grid containing all patterns can be scrolled using a standard scrollbar. Clicking the button in the last column of the grid will open or update a chart containing the pattern found.


Full Description

Read this blog post for more information on MonsterDash.

Reviews 31
Suvashish Halder
975
Suvashish Halder 2021.10.21 12:37 
 

It works and I become a fan of Harmonic Patterns 😍 Very good indicator. Thank you, Paul 🙂

Gursimran Singh Bharaj
114
Gursimran Singh Bharaj 2018.06.22 11:43 
 

I have rented this indicator. I had already bought the monster harmonic indicator a long time back. I missed a dashboard where multiple patterns are detected on a time frame. this does the job well. I am giving it 5 stars for the way it performs.

don't expect that if a pattern forms you just open a trade. you have to take other factors into account.

reo4ua
107
reo4ua 2018.03.29 22:43 
 

Paul,

What a fantastic time saver you have here. Honestly - one could trade using only your indicator and key levels and make all the money they want. Thank you for sharing this with us. Two requests if you would consider them for the next version: the ability to remove a signal from the list to keep it as clutter free as possible (for instance if you wake up to patterns where the optimal trade entry level has already come and gone - no sense in seeing it anymore) and a free-form notes column to the right of the "chart" button. Since I trade mainly with weekly pivots, noting point "d"'s proximity to the closest weekly fib pivot would be nice too.

Thanks again for what you do for the MT community!

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Suvashish Halder
975
Suvashish Halder 2021.10.21 12:37 
 

It works and I become a fan of Harmonic Patterns 😍 Very good indicator. Thank you, Paul 🙂

faithdefender
1220
faithdefender 2021.01.27 22:42 
 

So far, in my trading experiences with this scanner, it has not been the reliable scanner everyone says in the reviews. I have been going back and forth asking questions to Paul, but I am getting general answers. It may be because I am not communicating the issue properly? I recently complained about the scanner showing 1 price for the Daily GBPJPY with a "C" for complete, and when the price went past the D point, it changed to a different value. I entered the trade when it hit the D point @142.26, but I was stopped out. I looked at the scanner to make sure of the price, and the scanner now showed the D point at 142.85. Before I posted this review, I looked to see if anyone else had this problem and sure enough, I read above that @Doaa Elwy said almost the same thing I am complaining about. ((Please note this was back in Mar 2016 and still the same problem)) He wrote ""I just rented it, it does something very strange, it was showing bearish patterns in GBPJPY.. and it showed it completed .. then the market move up, The completion price changed .. then after 5 minutes, the GBPJPY disappeared from the dash board. for me this is exactly like an indicator that repaints.."I can't rely on it."" What's odd is that it was the same pair as he spoke of. I have hope for this indicator scanner, but not at this time. The price was not terrible, but the functionality is a concern and cannot be trusted at the moment. At least, with his Monster Indicator, he provides a stop and a target once the pattern is identified. Maybe he could do this on the scanner as well? But I am not hopeful because I see where someone had make recommendations in 8-19-2018 for changes to his harmonic indicator but there have been no additions/changes made since 7-24-2018. This is my 3rd indicator I have purchased. I forgot to mention also that the print is very small and I like to highlight the symbol to make sure I hit the right chart to open up, but if the chart you want to open is highlighted, it does nothing when you click on the pair. I have to highlight the one above or the one below to get my bearings and then I can click on the right chart. Once it opens, I then have to zoom in for the chart to display the prospective pattern. It can work, but inconvenient. UPDATE 1-28-21 The scanner has now (again) replaced the completed price on the same pattern, GBPJPY AB=CD daily, and is now142.92. At 10:17 hrs it is now 143.21 showing "Complete." The point I am making is the scanner identifies what is "C" and what is "P". You cannot trade when the scanner is discarding "complete" prices for new "complete" prices. Update-1-28-21 @1202 hrs, "completed" price is now at 143.24. Again, my point is this should show a P and not a C. It is either completed or projected. Update. 1-28-21 1520 hrs= Daily Ab=CD GBPJPY now @ 143.26....Update 2-1-21--so far not a word about the problem I encountered. (The GBPJPY finally fell off the scanner line-up) I would like to see this resolved for the money I paid, but there has not been a word of communication regarding the problem. I would like to provide a good review in the future. Update; As of 2-7-21 no communication from the vendor. No attempt to solve the problem. UPDATE; as of 6-27-21, no communication from the Vendor. As of 1/29/22 the Vendor has not reached out. Please note the indicator does identify patterns. That is not the problem. The problem is the indicator does not identify patterns as Scott Carney's instructions would. There is more to harmonics then just drawing Fibonacci's.

Mehdi Faraz Fard
2244
Mehdi Faraz Fard 2018.11.19 17:14 
 

User didn't leave any comment to the rating

Gursimran Singh Bharaj
114
Gursimran Singh Bharaj 2018.06.22 11:43 
 

I have rented this indicator. I had already bought the monster harmonic indicator a long time back. I missed a dashboard where multiple patterns are detected on a time frame. this does the job well. I am giving it 5 stars for the way it performs.

don't expect that if a pattern forms you just open a trade. you have to take other factors into account.

reo4ua
107
reo4ua 2018.03.29 22:43 
 

Paul,

What a fantastic time saver you have here. Honestly - one could trade using only your indicator and key levels and make all the money they want. Thank you for sharing this with us. Two requests if you would consider them for the next version: the ability to remove a signal from the list to keep it as clutter free as possible (for instance if you wake up to patterns where the optimal trade entry level has already come and gone - no sense in seeing it anymore) and a free-form notes column to the right of the "chart" button. Since I trade mainly with weekly pivots, noting point "d"'s proximity to the closest weekly fib pivot would be nice too.

Thanks again for what you do for the MT community!

Morard Kevin
1351
Morard Kevin 2017.11.08 21:00 
 

very good thank you

pnutfx503
1523
pnutfx503 2017.07.08 03:03 
 

Great work

sasans
795
sasans 2017.04.13 01:14 
 

very good indicator, few trades till now all was accurate

Jiahao Peng
35
Jiahao Peng 2017.03.14 20:37 
 

Hi Paul, can you please explain what is C/P and what is the read the Age(where is the start point?)

Julian Lo
718
Julian Lo 2017.02.16 05:13 
 

Very nice piece of work. I only look at completed patterns with young age. Together with other confluences for confirmation it becomes unbeatable. There are a few bugs, but nothing that I cannot live with. I am sure Paul will fix them soon.

Kevin Manrrique
404
Kevin Manrrique 2017.01.30 23:33 
 

January 30, 2017.

Just bought the monthly trial. I love the indicator so far, kinda confusing since very slow and so much writing. Just made a trade, hopefully, it goes well. Accuracy is 100%, so let's see. If this goes well, I really want to get in touch with the builder/ author. I want this indicator to grow, and help people all over and try to reach them!

January 30, 2017 (UPDATE)

Have been using indicator, and it's amazing how such a software works. I only have one problem... The dashboard for the patterns always refreshes randomly and loses some signals throughout the process. The other thing is, Instead of showing 0 bars, can we show the bars starting at 1?

I like the dashboard but I think the software will be better and not lag as much if the indicator used for each pair separately giving each screen (pair) a signal then having all these signals on a dashboard. I think this will stop the lagging and the reset/ refreshed.

david.l
474
david.l 2016.09.09 09:35 
 

work as it is, but you need strategy to confirm the pattern, not all completed pattern bring you profit.

Bruce Parker
148
Bruce Parker 2016.05.22 06:19 
 

the first step to winning trades is understanding which harmonic patterns have the highest the probability for success. there are 2 types of harmonic patterns. the first type is a reversal harmonic pattern that I stay away from because trying to call tops and bottoms is DEFINITELY not for me TRYING TO MAKE THOSE TYPE OF CALLS, UNLESS YOU ARE GOD. the second type of harmonic pattern is a continuation harmonic pattern and for me that's money in the bank; especially on a 5 minute chart playing a harmonic continuation pattern using one of my favorite weapons , binary options that expire in 10 to 25 minutes. I bought monster dash last month, but just really started using it 2 weeks ago and turned my 500 deposit in my binary account into over $3,000.00 in the past 2 weeks. that means I'm up 2500 the past 2 weeks trading just 100 per trade. it would have been nice if i was trading 500 per trade and would be up 10,000 instead, but i choose to start small and work my way up the ladder to 500 per trade.

HERE ARE MY STATS

I placed a total of 109 trades in the last 2 weeks... I won 66 trades and lost 43 trades hitting over 60%.

however I would have done much better if I was not mixing in the 1 minute chart harmonic continuation patterns and the winning ration on those only appears to be in the 50% range.

so the last 2 days I cut out the 1 minute chart and only used the 5 minute chart harmonic continuation patterns going 13-3 with a winning rate of over 80%!!! I also went back to all my 5 minute chart plays I made over the last 2 weeks pulling out the actual harmonic continuation plays and saw they were also all hitting close to 80 % if it had a binary option expiration date of 10 to 25 minutes.

if you are trading with a regular Forex broker i would not recommend using a 5 minute chart unless you are scalping; I would go with a 15 minute chart or higher using only harmonic continuation patterns and staying away from harmonic reversal patterns. as a general rule of thumb, if you are going long, than the MA(200) line should be moving up and the 5 day average should be moving up, otherwise its not a continuation pattern and would be considered a harmonic reversal pattern ; it does not matter if the price is above or below the MA(200) or the 5 day moving average as long as both lines are moving up.

and vice versa if you are going short, than than the MA(200) line should be moving down and the 5 day average should be moving down, otherwise its not a harmonic continuation pattern but considered a harmonic reversal pattern instead.

BASED ON WHAT I HAVE SEEN SO FAR, THE DIFFERENCE IN WINNING PERCENT BETWEEN A HARMONIC CONTINUATION PATTERN AND A HARMONIC REVERSAL PATTERN IS HUGE BY AT LEAST 10 TO 20 % OR BETTER. SO INSTEAD OF STRUGGLING TO HIT 50 TO 60% WITH A HARMONIC REVERSAL PATTERN TRYING TO CALL TOPS AND BOTTOMS THERE IS A MUCH BETTER WAY... INSTEAD YOU CAN REALLY KICK SOME ASS WITH A HARMONIC CONTINUATION PATTERN HITTING MORE LIKE 60% TO 70% OR BETTER WITH YOU TRADES; OR IF YOU ARE AS GOOD AS I AM THAT NOW MASTERS THE 5 MINUTE HARMONIC CONTINUATION PATTERN HIT 80% OR BETTER. I know its only been 2 weeks but it looks very promising by me just focusing all my efforts on the 5 minute chart harmonic continuation patterns that expires in the next 10 to 25 minutes. it also helps if you are using a binary broker that will pay you at least an 80% return for binary options that expire in 10 to 25 minutes and pay you back 5% on your losses, that way even if you only hit 55% you still will do slightly better than break even. than again if you are only hitting 55% with harmonic continuation patterns, than those are really not harmonic continuation patterns you thought you were trading.

Amjad Muhaisen
1313
Amjad Muhaisen 2016.04.20 12:30 
 

just bought the indicator, absolutely amazing, thank you

darktideac2
248
darktideac2 2016.04.08 11:20 
 

Insanely great (as Steve Jobs would have put it). Tops some of the paid saas offerings out there that I am also signed up for - and at a much lower price.

Doaa Elwy
637
Doaa Elwy 2016.03.28 00:55 
 

I just rented it,

it does something very strange, it was showing bearish patterns in GBPJPY.. and it showed it completed .. then the market move up, The completion price changed .. then after 5 minutes, the GBPJPY disappeared from the dash board.

for me this is exactly like an indicator that repaints..

I can't rely on it.

maithai
1797
maithai 2016.01.22 10:29 
 

great indicator - used with other confirmations for entry, very useful. from lots of charts open, this makes life so much easier

Harmonictrader7
38
Harmonictrader7 2016.01.05 08:53 
 

Great indicator! Saves me a lot of time. Thanks Paul.

frederic gaspari
60
frederic gaspari 2015.10.13 10:05 
 

fantastic indicator, better than all these expert advisors scams, buy eyes closed

cvdestyfx
2656
cvdestyfx 2015.10.04 06:04 
 

The indicator does what it is supposed to do, and it does it well. However, be forewarned: just because you follow a harmonic pattern it doesn't mean you are going to win. Trading such patterns could be risky when you don't know what you are doing. If you place trades just because a harmonic pattern suggests you move in a certain direction, then you will likely lose a lot of money over time.

Furthermore, I have learned that it is best to trade in the direction of the trend. That means I ignore patterns that are moving counter to the trend. Of course, moving with the trend doesn't guarantee a winning trade either. You could still end up losing if you don't time your entry right or if the trend reverses. There are other things that need to be considered than simply following harmonic patterns alone.

In short, do not use this indicator alone when making a decision to place a trade, but learn how price action works. This indicator should only be regarded as a tool to be used along with other tools for trading. It will help you, but only when you know what you are doing. And knowing what you are doing involves studying how the market works.

Magaretha M Van Wyk
200
Magaretha M Van Wyk 2015.09.16 10:02 
 

The Ultimate indicator !!!!!!!!!!!

Aikon
311
Aikon 2015.08.23 12:10 
 

This indicator is good but becomes a juggernaut if used as part of a strategy based in conjunction with Fibonacci retracements/extensions and S/R. After all these go hand in hand. By using the forecast patterns listed on the dashboard without any confluence or other sustaining indications will get you into gambling and not trading.

Been testing it for quite some weeks now and did not want to just review it by just writing my experience based on a few days. If you got the money do yourself a favor and go for it (you won't regret it) BUT i repeat.... do not use it alone.

One more thing ... Paul is a very helpful chap and hopefully will add more features in the coming future :)

Thanks Paul!

Svenson
52
Svenson 2015.08.03 12:51 
 

this is an absolut use- and helpful tool for the Harmonic Pattern Indicator. For real.

But the limitation of 5 product activation (sure from mql5.com) is ridicules. The Service Desk said the activation is binded on PC. I bought it. After I upgraded my OS to Win10 just 2 Weeks after 1st activation I have to give another activation on the same PC. The Service Desk said now, it is okay, you switched your OS.

IMO I paid for a product and not for 5 time activations.

At least you will not buy any product on this plattform. You will only get some activation limits for the requested product.

ikerinz
275
ikerinz 2015.06.23 18:57 
 

Awesome dashboard. Recent update was perfect ! This is helping a lot using my gann analysis :)

vmc
46
vmc 2015.05.19 23:02 
 

The MonsterDash is a great trading tool... a "must have" for anyone that trades harmonic patterns.

All the info is accurate and VERY helpful. Instead of having to search each currency and each timeframe, MonsterDash does the work for me an tells me where to go.

Great piece of software and great feedback from the author.

Congratulations and thanks Paul!

Aravind Kolanupaka
8040
Aravind Kolanupaka 2015.05.09 03:57 
 

Must have indicator for Harmonic traders.

Hanfei Zhu
148
Hanfei Zhu 2015.03.09 08:03 
 

Excellent indicator. Works perfectly with Monster Harmonic.

Thanks Paul!

Eri Forex
59
Eri Forex 2015.02.27 01:10 
 

Dashboard is very helpfull, i don't need to scan every pair and time frame, let the dashboard do it

Thank you

nicolkoekoek Koekoek
26
nicolkoekoek Koekoek 2014.12.08 13:13 
 

Truly a very nice "Dashboard", and with the alerts, you can just do your normal things and wait for the alert.

I am Looking forward to the next indicator Paul makes, since he surely knows how to impress and not just that, it just works.

Of course even more important, it makes me money. THANKS Paul!

fire580
31
fire580 2014.09.29 16:55 
 

Fantastic "Dashboard" the best - thank you

Massimiliano Sanna
264
Massimiliano Sanna 2014.09.17 08:44 
 

Very good indicator, thanks Paul

Reply to review
Version 3.4 2019.09.01
* Added PRZ in selected patterns to show
Version 3.3 2018.10.19
* Added Alt Bat, Deep Crab, 3 Drives & 5-0 patterns
* Added auto DPI scaling
Version 3.2 2017.08.10
* User can 'Approve' and 'Ignore' patterns
* Update opened charts
* Improved pattern drawing
* Resolved issue loss of pattern list
* Pattern selection for better readability
Version 3.1 2017.04.14
* Patterns now sortable on Completed/Projected
* New user setting to include symbols
* Scrollbar suppports click on page up and page down area
* Output grid can be expanded to accomodate high resolution monitors
Version 3.0 2016.11.22
Major upgrade
- Custom user patterns
- Looks for patterns on offline charts
- Resolved issue on pattern template
Version 2.3 2015.12.02
Minor upgrade
- added column 'C/P' which displays if a pattern is completed or projected.
- improved the price format in the 'completion' column to allow instruments like indices.
Version 2.2 2015.10.26
* Dragon pattern
Version 2.1 2015.08.07
New patterns:
- White Swan
- Black Swan
- Shark
- AB=CD
Version 2.0 2015.06.23
This is a major upgrade to version 2.
- Sortable columns
- Scrollable grid
- Open charts with pattern
- Update pattern on opened charts
Version 1.300 2015.06.01
Solved issue in Strategy Tester.
Version 1.200 2015.03.24
- Optimized accuracy
- Timeframe user input parameters
Version 1.100 2014.12.02
- Alerts: Screen, Email & Push
- Color Palettes, pick 'Dark' or 'Light' background