Harmonic Pattern Scanner MT4
Harmonic Pattern Scanner MT4 is the automated Pattern Scanner to detect various harmonic patterns used in Forex and Stock market. Before understanding Harmonic Pattern Scanner, you need to understand what is the Harmonic Pattern first. Loosely speaking, Harmonic Pattern is the kind of chart pattern. The structures of the harmonic pattern are based on the Fibonacci ratios. Hence, some people consider Harmonic pattern as an advanced Fibonacci price patterns. Harmonic patterns include Butterfly, Gartley, Bat, Alternate Bat, AB=CD, Shark, Crab, Deep Crab, Cypher, 5-0 Patterns, 3 Drives Pattern and so on. Harmonic Pattern Trading is not bullet proof but if it is used wisely, then it can yield enough edge to pull the profits from the market. We will have a look at the structure of several Harmonic Patterns.
Butterfly Pattern has the three-triangle structure. The three triangles are enclosed by one bigger triangle with one closing retracement ratio. Pattern definition of Butterfly Pattern can be described as below:
C0: 1.270 to T0: 3,
R0: 1.618 or 2.240, R1: 0.382 or 0.886, R2: 0.786
Gartley Pattern has the three-triangle structure. The three triangles are enclosed by one bigger triangle with one closing retracement ratio. Pattern definition of Gartley Pattern can be described as below:
C0: 0.786 to T0: 3,
R0: 1.130 or 1.618, R1: 0.382 or 0.886, R2: 0.618
BAT Pattern has the three-triangle structure. The three triangles are enclosed by one bigger triangle with one closing retracement ratio. Pattern definition of BAT Pattern can be described as below:
C0: 0.886 to T0: 3,
R0: 1.618 or 2.618, R1: 0.382 or 0.886, R2: 0.382 or 0.500
Alternate BAT Pattern has the three-triangle structure. The three triangles are enclosed by one bigger triangle with one closing retracement ratio. Pattern definition of Alternate Bat Pattern can be described as below:
C0: 1.130 to T0: 3,
R0: 2.000 or 3.618, R1: 0.382 or 0.886, R2: 0.382
Shark Pattern has the three-triangle structure. The three triangles are enclosed by one bigger triangle with one closing retracement ratio. Pattern definition of Shark Pattern can be described as below:
C0: 0.886 – 1.130 to T0: 3,
R0: 1.618-2.240, R1: 1.130-1.618
Crab Pattern has the three-triangle structure. The three triangles are enclosed by one bigger triangle with one closing retracement ratio. Pattern definition of Crab Pattern can be described as below:
C0: 1.618 to T0: 3,
R0: 2.618 or 3.618, R1: 0.382 or 0.886, R2: 0.382 or 0.618
Deep Crab Pattern has the three-triangle structure. The three triangles are enclosed by one bigger triangle with one closing retracement ratio. Pattern definition of Deep Crab Pattern can be described as below:
C0: 1.618 to T0: 3,
R0: 2.000 or 3.618, R1: 0.382 or 0.886, R2: 0.886
5 to 0 Pattern has the three-triangle structure. There is no closing retracement for 5 to 0 pattern. Pattern definition of 5 to 0 Pattern can be described as below:
R0: 0.500, R1: 1.618 – 2.240, R2: 1.130-1.618
MetaTrader 4 is one of the most popular trading platform since 2010. It is accessible for free of charge for any trader from all over the world. We provide a range of powerful harmonic pattern scanner particularly for MetaTrader 4 platform. For your information, Harmonic Pattern Plus and Harmonic Pattern Scenario Planner is repainting. Below is the list:
1. Harmonic Pattern Plus MT4
Harmonic Pattern Plus is one of the first automated Harmonic Pattern scanner released in 2014. Harmonic Pattern Plus can scan 11 most popular harmonic patterns with well-defined trading entries and stops. Pattern Completion Zone, Potential Reversal Zone and Potential Continuation Zone are supported. In addition, other dozens of powerful features are added like Japanese candlestick detection, etc. Because of affordable price, this harmonic pattern detection indicator is loved by many traders.
https://www.mql5.com/en/market/product/4488
https://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/
2. Harmonic Pattern Scenario planner MT4
Harmonic Pattern Scenario Planner is an advanced Harmonic Pattern Scanner. On top of the features of Harmonic Pattern Plus, Harmonic Pattern Scenario Planner can also predict future harmonic patterns through simulation. This is the tactical harmonic pattern scanner designed for Professional harmonic pattern trader. Because of affordable price, this harmonic pattern scanner is loved by many traders.
https://www.mql5.com/en/market/product/6240
https://algotrading-investment.com/portfolio-item/harmonic-pattern-scenario-planner/
3. X3 Chart Pattern Scanner MT4
X3 Chart Pattern Scanner is the next generation Harmonic Pattern Scanner. X3 Chart Pattern Scanner is non-repainting and non-lagging Harmonic Pattern Scanner. On top of that, this tool can detect Elliott Wave Pattern and X3 Price Patterns. As a bonus, this scanner can detect around 52 Japanese candlestick patterns for your trading. This is the most advanced Harmonic and Elliott wave pattern scanner in the market. You must try.
https://www.mql5.com/en/market/product/41992
https://algotrading-investment.com/portfolio-item/profitable-pattern-scanner/
In this Harmonic Pattern Scanner MT4 article, we have used the ratio framework discussed in “Defining Profitable Pattern” chapter in the Book: Guide to Precision Harmonic Pattern Trading. You can read it for free here.
https://algotrading-investment.com/2019/07/09/defining-profitable-patterns/
Related Products
