Harmonic pro Forex Indicator Mt4 Patterns High Accurate No Repaint Best System

Description

The
Harmonic Patterns
indicator is arguably the most complete harmonic price formation auto-recognition indicator you can find for the MetaTrader Platform. It detects 19 different patterns, takes fibonacci projections as seriously as you do, displays the Potential Reversal Zone (PRZ) and finds suitable stop-loss and take-profit levels.
It detects 19 different harmonic price formations
It plots primary, derived and complementary fibonacci projections
It evaluates past price action and displays every past pattern
The indicator analyzes its own quality and performance
It includes a multi-symbol and multi-timeframe scanner
It displays suitable stop-loss and take-profit levels
It uses breakouts to signal suitable trades
It plots all the pattern ratios on the chart
Inspired by Mr. Scott M. Carney's book -Harmonic Trading Vol. 1-, this indicator has been designed to fulfill the needs of the most purist and exigent traders. However, it implements a twist to make it easier to trade: it waits for a donchian breakout in the right direction before signaling the trade, making its signals very reliable.
Fibonacci projections are vector-independent
It plots the ABCD projection
Usage Tips
The amplitude parameter controls the pattern size in bars
Load the scanner indicator once to monitor many symbols and timeframes
Patterns can expand but signal breakouts mostly do not: wait for signals
Avoid trading if higher timeframes display a strong trend against your trade
Use the suitable SL and TP levels displayed by the indicator
Technical Information
The indicator evaluates at bar closing only
Patterns are displayed as soon as the XD and CD ratios are valid
Patterns can expand, repaint and become other patterns, with different names
Breakouts are mostly non repainting and enough to reverse the market movement
Set a higher breakout period to decrease the odds of the indicator repainting
Stop-loss and take-profit levels are calculated using fibo ratios
Important:
Some pattern names have been renamed to self-explanatory alternatives to comply with a trademark complaint from
Mr. Scott M. Carney
, who owns the following trademarks in the USA:
Harmonics, Harmonic Trading, Bat Pattern, Butterfly Pattern, Shark Pattern, Crab Pattern and Five-O Pattern
.
Tired of plotting trendlines? The
Trend Lines
indicator applies a mechanical approach to the construction of trend lines for you! It'll draw up to 18 trendlines automatically and save you a ton of drawing time.
It can draw up to 18 trendlines
Trendlines can be optionally based on fractals
Each line represents a breakout level
Each trendline can be broken or rejected
Configurable amount of lines
Configurable colors
Boost your trading returns with a great trendlines indicator at no cost, just like hundreds of users have already done!