Anti Shark Harmonic Pattern Indicator MT4
Anti Shark Harmonic Pattern Indicator MT4
The Anti Shark Harmonic Pattern indicator on MetaTrader 4 effectively detects sharp changes and price reversals in strong trending markets.
This trading tool identifies potential trend reversal zones and provides a precise view of market sentiment. The Anti Shark Harmonic Pattern indicator is based on harmonic pattern principles. It draws bullish patterns in pink and bearish patterns in dark blue.
«Indicator Installation & User Guide»
MT4 Indicator Installation | Anti Shark Harmonic Pattern Indicator MT5 | ALL Products By TradingFinderLab | Best MT4 Indicator: Refined Order Block Indicator for MT4 | Best MT4 Utility: Trade Assistant Expert TF MT4 | TP & SL Tool: Risk Reward Ratio Calculator RRR MT4 | Money Management: Easy Trade Manager MT4 | Trade Copier: Free Fast Local Trade Copier MT4 | Money management + prop protector: Trade Assist Prop Protector MT4
Anti Shark Harmonic Pattern Indicator Specification Table
Below is a table showing the features of the Anti-Shark Harmonic Pattern indicator:
Category | Harmonic Pattern - Candlestick - Classic and Chart Patterns |
Platform | MetaTrader 4 |
Skill Level | Intermediate |
Indicator Type | Reversal |
Timeframe | Multi timeframe |
Trading Style | Intraday Trading |
Market | All Markets |
Overview of the Anti Shark Harmonic Pattern Indicator
The Fibonacci ratios used in the Anti Shark pattern, especially at points C and D, significantly differ from the classic Shark pattern. For example, the AB ratio is usually less than 1, and the BC ratio is greater than 1.618; this is the opposite of the classic Shark pattern.
Bullish Anti Shark Pattern
According to the Dogecoin (DOGE) one-hour chart, the Anti Shark harmonic pattern completes at point "D." As shown in the illustration, point "D" serves as the PRZ, a potential reversal zone; from this area, an upward trend initiates.
Bearish Anti Shark Pattern
According to the GBP/USD 30-minute chart analysis, after the bearish Anti Shark pattern is completed at point "D," the price reverses direction. Point "D" is a suitable zone for initiating sell setups in such cases.
Anti Shark Harmonic Pattern Indicator Settings
The following image shows the settings section of the Anti-Shark Harmonic Pattern indicator:
• Minimum Length of Wave (candle): Minimum number of candles to form each wave
• Num of Previous Candle: Number of past candles for wave identification
• Show Lines: Display pattern lines
• Break Pivot: Show or hide broken lines on the chart
• Original pivot to broken pivot (Pipet): Allowed distance between the original and broken pivots
• Shift: Move pattern lines forward or backward on the chart
• Bullish Pattern: Display bullish Anti-Shark pattern
• Bearish Pattern: Display bearish Anti-Shark pattern
• Style of Line: Connecting lines between pattern points
• Width of Line: Thickness of the pattern lines
• Custom Color Lines (Bearish Harmonic): Choose the color for bearish patterns
• Custom Color Lines (Bullish Harmonic): Choose the color for bullish patterns
• Custom Color of Text: Set color for labels and text
Conclusion
The Anti Shark Harmonic Pattern indicator, by displaying bullish and bearish anti Shark patterns, facilitates the identification of potential entry and exit points. This tool also offers various settings, such as changing pattern colors and, for different trading strategies, calculations based on candle count, and is compatible with all of them.