MT4 Harmonic Patterns Indicator (Scanner)

Harmonic Patterns Scanner is an indicator used for detection of harmonic patterns using calculations based on Fibonacci ratios. Harmonic Scanner is a multi-currency and a multi-time frame indicator – on the same chart it displays detected harmonic patterns for all symbols and time frames simultaneously. The main purpose of the tool is to correctly identify harmonic patterns to improve the accuracy of price movements’ prediction and trades’ entries.

MT4 Harmonic Patterns Scanner

MetaTrader 4 Harmonic Patterns Scanner is an indicator used for automatic and continuous detection of harmonic patterns on price charts identified using calculations based on Fibonacci ratios.

Harmonic Scanner is specially adapted for use in MetaTrader 4 platform and is a multi-currency and multi-time frame indicator – on the same chart it displays detected harmonic patterns for all symbols and time frames simultaneously: from one minute (M1) to one month (MN).

Harmonic Scanner is a professional tool for a trader which main purpose is to correctly and fully automatically identify harmonic patterns to improve the accuracy of price movements’ prediction and trades’ entries.

 

Scanner interface and functionality

MT4 Harmonic Patterns Scanner

Harmonic Scanner is an informative dashboard that displays the results of a technical analysis of all trading instruments available in your MT4 terminal on all time frames, which allows the trader to instantly assess market conditions and to not miss the opportunity to open a profitable trade and to be able to earn significantly more profit.

Effective developed scanner algorithm ensures high accuracy of pattern identification, speed of calculations and quick response of the program to evolving market conditions.

The dashboard contains:

  • symbol
  • timeframe
  • name of the pattern that has been identified as the closest one to the current market price
  • direction of a potential trade: a signal to buy (Up) or sell (Down)
  • price of point D (the entry price at which the pattern is considered as formed and a trade should be executed)
  • number of pips remained to point D level

 

Convenient scanner functionality eliminates the need to clutter up your trading terminal with dozens of charts, and then switch through them looking for trading signals.

All the necessary information about Harmonic Patterns detected on currency pairs and timeframes is presented in one window in the dashboard, using which you can switch between charts in one click.

The dashboard is not piled up with various graphical analytical tools and additional calculations displayed on the chart, which allows the trader to see only the most important information and focus on decision making.

The scanner provides notifications functionality that can be used to receive emails, mobile phone notifications and MT4 alerts upon trading signal occurrence.

 

Calculation ratios

The scanner identifies the most popular among traders harmonic patterns, which are recognized as universal and can be applied to all markets and time intervals. Each pattern has bullish and bearish versions, which determines the direction of a trade (buy or sell):

  • Bat
  • Gartley
  • Butterfly
  • Crab
  • Cypher
  • Shark

 

Harmonic Patterns

 

Pattern AB BC CD XD XC
Bat 0.618
retracement of XA
0.382-0.886
retracement of AB
1.128-1.618
extension of BC
0.786
retracement of XA
X
Gartley 0.382-0.5
retracement of XA
0.382-0.886
retracement of AB
1.618-2.618
extension of BC
0.886
retracement of XA
X
Butterfly 0.786
retracement of XA
0.382-0.886
retracement of AB
1.618-2.618
extension of BC
1.272–1.618
extension of XA
X
Crab 0.382–0.618
retracement of XA
0.382-0.886
retracement of AB
2.24–3.618
extension of BC
1.618
extension of XA
X
Shark 0.382–0.618
retracement of XA
1.128-1.618
extension of AB
1.618–2.236
extension of BC
0.886-1.128
retracement of XA
X
Cypher 0.382–0.618
retracement of XA
X 0.786
retracement of XA
X 1.272-1.414
extension of XA

 

Custom Programming

mt4 custom programming
We can upgrade the presented indicator to suit your needs – add new functions, change the algorithm for calculating signals, or combine it with your other indicator, turning it into a single powerful tool for your trading strategy.

We can also turn the indicator into an Expert Advisor (trading robot) with an extended set of custom functions (stop loss, take profit, trailing stop, risk management parameters, trading time limit, and others).

Request a free consultation from our team of professional programmers and find out the cost and timing of your project development.

Disclaimer 

Nordman Algorithms is not liable for any risk that you face using the software. Please, use the software on your own responsibility. The software is coded in accordance with a common known concept and Nordman Algorithms does not guarantee accuracy or trading performance of the software signals.

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