Anti Cypher Harmonic Pattern Indicator MT5
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Anti Cypher Harmonic Pattern Indicator MT5
The Anti Cypher Harmonic Pattern Indicator differs from the classic Cypher pattern by identifying specific relationships within the structure of XA, AB, BC, and CD waves.
This trading tool is purpose-built to detect harmonic patterns and uncover points often overlooked by traders. On the chart, the indicator displays bullish patterns in pink and bearish patterns in dark blue, making trend changes and divergences easy to spot.
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Specifications of the Anti Cypher Harmonic Pattern Indicator
The features of the Anti Cypher Harmonic Reversal Pattern Indicator are presented in the table below:
Category | Harmonic Pattern - Candlestick - Classic and Chart Patterns |
Platform | MetaTrader 5 |
Skill Level | Intermediate |
Indicator Type | Reversal |
Timeframe | Multi timeframe |
Trading Style | Intraday Trading |
Market | All Markets |
Overview of the Anti Cypher Harmonic Pattern Indicator
The Anti Cypher Harmonic Pattern Indicator is capable of detecting fake breakouts and misleading market moves. While many traditional harmonic patterns may fail in volatile market conditions, this indicator activates specifically in such instances, offering opportunities to identify moves that go against the prevailing trend.
Bullish Trend Condition
On the 30-minute Ethereum (ETH) chart, after the bullish pattern completes and point "D" is reached, the market initiates a notable upward movement. This reversal signifies renewed strength in the market around the "D" point and confirms a bullish Anti Cypher signal.
Bearish Trend Condition
On the 30-minute EUR/USD chart, the Anti Cypher Harmonic Pattern Indicator illustrates a bearish setup using blue lines. Once the pattern completes and the price hits point "D," the prior bullish move concludes, and the market transitions into a downtrend.
Anti Cypher Harmonic Reversal Pattern Indicator Settings
The customizable settings in the Anti Cypher Harmonic Pattern Indicator include:
• Minimum Length of Wave (candle): Minimum number of candles to form a wave
• Num of Previous Candle: Number of previous candles used for wave detection
• Show Lines: Option to display pattern lines
• Break Pivot: Enable or disable broken line display
• Original pivot to broken pivot (Pipet): Allowed distance between the main and broken pivot
• Shift: Adjust horizontal positioning of pattern lines
• Bullish Pattern: Enable bullish Anti Cypher pattern display
• Bearish Pattern: Enable bearish Anti Cypher pattern display
• Custom Color Lines (Bearish Harmonic): Choose color for bearish pattern lines
• Custom Color Lines (Bullish Harmonic): Choose color for bullish pattern lines
• Custom Color of Text: Set color for chart text and labels
Conclusion
The Anti Cypher Harmonic Pattern Indicator identifies market reversal points and detects false breakouts. It also includes a versatile settings panel, allowing traders to personalize elements according to their strategies. This multi-timeframe tool is compatible with all trading approaches, from scalping to long-term trading.