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MonsterDash Harmonic Indicator

MonsterDash Harmonics Indicator is a harmonic pattern dashboard. 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. 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 to MonsterDash. MonsterDash can open and update charts with the pattern found for you. MonsterDash is the perfect companion for Monster, the indicator that shows the pattern and all patterns in history on your chart.

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

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.


Display

MonsterDash shows the following information for every pattern found:

  • Symbol - Symbol name.
  • Timeframe - Timeframe of a detected pattern.
  • Direction - Direction (bullish/bearish) of a pattern.
  • Pattern - Pattern name.
  • Accuracy - Accuracy of pattern, 100% is a perfect pattern according to its ratio definition.
  • Age - Age in bars for the timeframe, in which the pattern is detected.
  • Completion - Price, at which the pattern's D point is completed or projected.

Completed patterns are shown in yellow, projected patterns - in blue (when using default colors).


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 command button in the last column of the information grid will open a (or update opened) chart containing the pattern found.


Free Demo

MonsterDash will work in the Strategy Tester. However, only patterns for the selected symbol and selected and lower timeframes are detected. This is a limitation of the Strategy Tester. MonsterDash is best tested in Visual Mode as you can see the detected patterns in the display.


Loose Ends

MonsterDash is not resource hungry. Every calculation cycle (see the 'Check Pattern Every' parameter) takes approximately one second.

MonsterDash looks at the the timeframes of your choice.

Do not hesitate to contact me. Let me know what you think of MonsterDash. Only with your help, I can create better tools for MT4.
sasans
74
2017.04.13 01:14 
 

very good indicator, few trades till now all was accurate

Jiahao Peng
30
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
497
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
257
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
171
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
168
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
45
2016.04.20 12:30 
 

just bought the indicator, absolutely amazing, thank you

darktideac2
258
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
579
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
663
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
40
2016.01.05 08:53 
 

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

frederic gaspari
78
2015.10.13 10:05 
 

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

cvdestyfx
356
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
211
2015.09.16 10:02 
 

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

Aikon
285
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!

faithl3ss
78
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
279
2015.06.23 18:57 
 

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

vmc
81
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
1448
2015.05.09 03:57 
 

Must have indicator for Harmonic traders.

Hanfei Zhu
150
2015.03.09 08:03 
 

Excellent indicator. Works perfectly with Monster Harmonic.

Thanks Paul!

8275415
56
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
24
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
2014.09.29 16:55 
 

Fantastic "Dashboard" the best - thank you

Massimiliano Sanna
223
2014.09.17 08:44 
 

Very good indicator, thanks Paul

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