Harmonics 7.5.
Metatrader (MT4/MT5) Indicator.
The Harmonics Indicator is probably the most complete harmonic patterns auto-recognition indicator you can find for the Metatrader Platform. It detects 19 different harmonic patterns and takes fibonacci projections as seriously as you do.
It detects 19 different harmonic patterns It plots primary, derived and complementary Fibonacci projections It evaluates past price action and displays every past pattern It includes a multi-symbol and multi-timeframe scanner The indicator analyzes its own quality and performance It uses breakouts to signal profitable entries It plots all the pattern ratios on the chart It implements /sound/visual alerts.
Inspired by Scott M. Carney's book, this indicator has been designed to fulfill the needs of the most purist and exigent traders. But it implements a twist for the rest of us: it waits for a donchian breakout in the right direction before signaling the trade, making these trades very reliable.
Fibonacci projections are vector-independent It implements /sound/push alerts It plots the AB=CD projection.
Patterns detected are.
Enhance your trading activity with the best Harmonic Patterns auto-detection indicator, just like our customers have already done.
A brief introduction.
The harmonic methodology utilizes the recognition of specific price patterns and the alignment of exact Fibonacci ratios to determine highly probable reversal points in the financial markets. This methodology assumes that trading patterns or cycles, like many patterns and cycles in life, repeat themselves. The key is to identify these patterns, and to enter or to exit a position based upon a high degree of probability that the same historic price action will occur. Although these patterns are not 100% accurate, these situations have been historically proven. If these set-ups are identified correctly, it is possible to identify significant opportunities with a very limited risk.
The Potential Reversal Zone (PRZ)
The concept of the Potential Reversal Zone (PRZ) was originally outlined by Scott M. Carney in his book. A wholeheartedly recommended reading.
History has proven that a convergence of Fibonacci numbers and price patterns provides a highly probable area for a reversal. This area of convergence is called the potential reversal zone. When three, four, or even five numbers come together within a specific area, you must respect the high probability for some type of reversal.
A Potential Reversal Zone (PRZ) represents the critical areas where the flow of buying and selling is potentially changing. These harmonic zones attempt to identify the price levels where imbalanced overbought and oversold situations are reversing back to their respective equilibrium level.
An ideal reversal usually tests all of the price levels in the Potential Reversal Zone (PRZ) on the initial test. The predominant trend usually reverses from this initial test of the entire PRZ and continues in the reversal direction shortly thereafter. In an ideal reversal, the price bar that tests all of the fibonacci projections in the PRZ is called the Terminal Price Bar .
The trade must be taken when the Potential Reversal Zone (PRZ) has been tested and rejected by a Terminal Price Bar or a strong breakout has taken place in the reversal direction without testing all the PRZ levels. The farthest price level of the PRZ or the Point X of the pattern are suitable stop-loss levels.
Harmonic Ratios.
The indicator calculates all the important fibonacci ratios for the XA and BC vectors of the pattern, and plots them by the Point D if applicable.
Primary Ratios Directly derived from the Fibonnaci Number Sequence.
- 0.618 = Primary Ratio.
- 1.618 = Primary Projection.
Primary Derived Ratios - 0.786 = Square root of 0.618.
- 0.886 = Fourth roof of 0.618 or Square root of 0.786.
- 1.130 = Fourth root of 1.618 or Square root of 1.27.
- 1.270 = Square root of 1.618.
Complementary Derived Ratios - 0.382 = (1 - 0.618) or 0.618e2.
- 0.707 = Square root of 0.50.
- 1.410 = Square root of 2.0.
- 2.240 = Square root of 5.
Trade Execution.
Once a pattern is detected, the following steps have to be taken, which can lead to take or discard the trade. Bear in mind that a pattern is not valid by itself and it can expand as long as it likes. Your job has an trader is to assess the validity of the pattern and the potential reversal zone before entering the market.
1. Pattern Recognition This indicator auto-detects and alerts harmonic patterns. 2. Find the Potential Reversal Zone (PRZ) Evaluate the fibonacci projections plotted on the chart by the indicator and look for strength signs. Can you find at least three converging projections? Do you see primary ratios? Is the AB=CD projection present? 3. Wait until the PRZ is rejected by the market The PRZ can be tested and rejected by one single Terminal Price Bar , or the market can reverse and breakout the PRZ without testing all the fibonacci projections. In any case, the market has to move before you take the trade. You are a follower, not a predictor.
4. Enter the market setting the proper stop-loss Trade the breakout or the rejection of the PRZ and set the proper stop-loss. The farthest price level of the PRZ or the Point X of the pattern are suitable stop-loss levels. 5. Position Management It is recommended to reap partial profits as soon as possible to lock into a free ride. Scott M. Carney proposes a very interesting position management system based on a 0.382 Trailing Stop, measured from the reversal point to the reversal extreme.
The Potential Reversal Zone (PRZ) is a crucial element in the trading process. Hence the importance of vector-independent primary, derived and complementary fibonacci projections, which all other harmonic indicators ignore completely.
Some trading examples.
The following are trading examples using Harmonic Patterns. The trade is taken when the Potential Reversal Zone (PRZ) is rejected.
When loading the indicator to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
Indicator Settings The indicator is constantly looking for tops and bottoms. The Size parameter controls the size of the patterns to be found, expressed as minimum amount of bars between alternative points. The Max. History Bars parameter controls how many past bars are examined to minimize memory usage, and the Breakout Period is the amount of bars to be broken before a buy or sell signal is raised. You can also increase the wiggle room for ratio recognition, and display more - albeit imperfect - patterns on the chart. Pattern Settings Enable or disable harmonic patterns at will. Disable those you don't want to use. Drawing Settings Configure the colors of bullish and bearish patterns, as well as font sizes. Ratios Enable or disable ratios and choose your own ratio colors. Projections Display or hide the fibonacci projections on the chart Breakouts Enable or disable breakouts, and set your desired arrow sizes and colors. Alerts Enable display//push/sound alerts for patterns.
In order to build your expert advisor, you can read data from the indicator using the iCustom() function as exemplified below. The indicator has one extra buffer which only purpose is to store trading signals as constants: this is the only buffer you need to read from. Copy and paste the code below into your EA, and replace the indicator name of the iCustom() call with your own.
Screenshots.
Related Products.
Wolfe Waves.
A natural and reliable reversal pattern which is present in all markets and timeframes, that has a winning ratio or 90%.
ABCD Retracement.
The AB=CD pattern is the basic foundation for all harmonic patterns, with customizable ratios and breakout period.
The Five-O indicator implements a 6-point harmonic retracement pattern which precedes big market movements.
Three Drives.
The Three Drives harmonic pattern signals that the market is exhausted and a reversal is likely to take place.
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Harmonic trading indicators

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PZ Harmonic Trading indicator for MT4.
A brief introduction :
Harmonic Trading is a methodology that utilizes the recognition of specific price patterns and the alignment of exact Fibonacci ratios to determine highly probable reversal points in the financial markets. This methodology assumes that trading patterns or cycles, like many patterns and cycles in life, repeat themselves. The key is to identify these patterns, and to enter or to exit a position based upon a high degree of probability that the same historic price action will occur. Although these patterns are not 100% accurate, these situations have been historically proven. If these set-ups are identified correctly, it is possible to identify significant opportunities with a very limited risk.
Trade Execution.
Once a pattern is detected, the following steps have to be taken, which can lead to take or discard the trade. Bear in mind that a pattern is not valid by itself and it can expand as long as it likes. Your job has an harmonic trader is to assess the validity of the pattern and the potential reversal zone before entering the market.
1. Pattern Recognition This indicator auto-detects and alerts harmonic patterns. 2. Find the Potential Reversal Zone (PRZ) Evaluate the fibonacci projections plotted on the chart by the indicator and look for strength signs. Can you find at least three converging projections? Do you see primary ratios? Is the AB=CD projection present? 3. Wait until the PRZ is rejected by the market The PRZ can be tested and rejected by one single Terminal Price Bar , or the market can reverse and breakout the PRZ without testing all the fibonacci projections. In any case, the market has to move before you take the trade. You are a follower, not a predictor. 4. Enter the market setting the proper stop-loss Trade the breakout or the rejection of the PRZ and set the proper stop-loss. The farthest price level of the PRZ or the Point X of the pattern are suitable stop-loss levels. 5. Position Management It is recommended to reap partial profits as soon as possible to lock into a free ride. Scott M. Carney proposes a very interesting position management system based on a 0.382 Trailing Stop, measured from the reversal point to the reversal extreme.
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Harmonic Pattern Indicator.
Harmonic Pattern Indicator is designed to determine patterns Gartley Butterfly, which was first described by Harold Hartley in the author's book "Profit on the Stock Exchange" in 1935. Gartley Butterfly Pattern feature is that it is a model that has certain exact contours and mathematical relationships. That is, here we have to deal with the Fibonacci levels.
Characteristics of Harmonic Pattern Indicator.
Platform: Metatrader4 Currency pairs: Any Trading Time: Any Timeframe: Any, recommended H1 and higher Recommended broker: Alpari.
Harmonic Pattern Indicator finds the on the chart pattern and additionally shows in the upper right corner of the entry point, targets for the Take Profit and level for Stop Loss:
In the archives Harmonic_Pattern_Indicator. rar:
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23 Responses.
I recently installed your Harmonic Pattern Indicator on my MetaTrader4 platform. I love the ABC pattern and the fact I can see the trend inside the triangles and also the take profit and stop loss on the right hand side of the chart.
The triangle gives me a visual view of where the price is going and when it might be safe to enter a trade. I have won a few trades, as well as I have made some losses. But before I came across your system my losses were many times more.
I now have a disturbing problem and wonder if you can give me some advise. I have attached the indicator on about eight currency pairs on my chart but your indicators only show up on certain time frames frames. on certain currency pairs. eg The triangles only appear on the daily time frame on the USDCHF. If I went down to say a 4hr time frame I would get a blank chart with nothing on it apart from the candle sticks and it’s the same for all other time frames. The AudYen is a bit better apart from the daily time frame where the indicator disappears. EurGbp is also another problem, the triangles appear only on the 4hr time frame, all other time frames the chart goes blank. I am having this problem with other currency pairs.
Finally, Here is another problem I am experiencing. Say I have got five currency pairs set up with both the triangles flapping away and with the stop loss and take profit levels on the right. A few hours later may be four or five all the indicators disappear from a currency pair and it could be any currency pair. It happened on the EurDollar and when I tried to re-attach the Harmonic Pattern Indicator back on to the chart nothing happens. and this is the same for the Gbpusd, AusDollar and many more.
My question is could the fault be with my Brokers platform?
I would appreciate your help.
Hi, so far does this indicator made you profit?
hello … I tried to download Harmonic Pattern Indicator but but ‘me, the message ERROR !! why’.
I installed but dont see the harmonics.
Thank you very much.
hi. downloaded but doesnt show the harmonics?
Please as I can install the scanner in my metatrader4.
Hello. I have just downloaded this indicator, but how do i install it to my metatrader 4 platform?
i really want this indi but apparently it crashes mt4 and does not work. can u check? thanks Helio.
Thanks for sharing!
its good but not know why the shape change , once go to buy after many hours changed to sell shape ?
i am filing to install the harmonic pattern in my MT4 Platform, please help.
Gartley patterns are traded as reversals once the pattern is complete. This is signaling to trade before the completion of the patterns. I have never seen the Gartley patterns traded in this manner. If I am wrong please someone let me know.
install but don t see blue harmonic patern , sad , help if u can.
sorry must hight timeframe.
If you don’t see a harmonics pattern on your chart, there just isn’t one – easy as that. Same with time frames. If there is a pattern on the Daily there doesn’t need to be one on the 4hr as well…… or visa versa.
I downloaded but the file is empty what can I do?
You are forecasting patterns, In 95% the 4th point is not hit . So if we want to trade we can’t enter at showed price.
In the documents they say find completed patterns first and then enter into trade.
Guys if you dont see a pattern it means there is no pattern, if you see a pattern and it disappears it means the candles have broken the rule of that set up, its as easy as that, dont expect to see patterns on all the time frames.
It cannot shows more than available Gartley Pattern if any, because it is free indicator.