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.
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:
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.
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):
| 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 |
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.
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.
