MT4 Harmonic Patterns Indicator (Scanner)
MT4 Harmonic Patterns Indicator automatically detects harmonic patterns on price charts using Fibonacci ratio calculations. The scanner monitors all available symbols and timeframes simultaneously — displaying detected patterns, their Fibonacci structure, and proximity to key price levels in a unified dashboard.
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What the Harmonic Patterns Indicator (Scanner) Does
The MT4 Harmonic Patterns Indicator is a multi-currency, multi-timeframe scanner that automatically identifies harmonic patterns across all instruments and timeframes available in the MetaTrader 4 terminal — from M1 to MN — and presents the results in a structured dashboard format.
Harmonic patterns are price formations defined by specific Fibonacci retracement and extension ratios between their component points (X, A, B, C, D). The indicator identifies these formations automatically by evaluating whether the measured ratios between price swings fall within the defined parameters for each pattern type. Pattern identification is based entirely on mathematical relationships between price levels — not on subjective interpretation.
Harmonic Patterns Indicator — Key Features
Scanner Interface and Dashboard
The dashboard displays the results of continuous pattern detection across all monitored instruments and timeframes in a single window.
For each detected pattern, the dashboard shows:
- Symbol — the monitored instrument
- Timeframe — the chart period on which the pattern was detected
- Pattern name — the closest pattern to current price that meets the ratio criteria
- Directional context — bullish or bearish, based on the pattern structure
- Point D price — the level at which the pattern is considered structurally complete
- Distance to Point D — the number of pips between current price and Point D
Clicking on any row in the dashboard updates the chart to the corresponding instrument and timeframe directly, without opening a new window.
Detected Pattern Types
The indicator identifies six harmonic patterns, each with bullish and bearish variants.
All patterns are defined by Fibonacci ratios between their structural points:
- Bat
- Gartley
- Butterfly
- Crab
- Cypher
- Shark
Calculation Ratios
Each pattern is identified by a specific set of Fibonacci retracement and extension ratios between points X, A, B, C, and D.
The table below shows the ratio criteria used by the scanner for each pattern:
| Pattern | AB | BC | CD | XD | XC |
|---|---|---|---|---|---|
| Bat | 0.382–0.5retracement of XA | 0.382–0.886retracement of AB | 1.618–2.618extension of BC | 0.886retracement of XA | — |
| Gartley | 0.618retracement of XA | 0.382–0.886retracement of AB | 1.128–1.618extension of BC | 0.786retracement of XA | — |
| Butterfly | 0.786retracement of XA | 0.382–0.886retracement of AB | 1.618–2.618extension of BC | 1.272–1.618extension of XA | — |
| Crab | 0.382–0.618retracement of XA | 0.382–0.886retracement of AB | 2.24–3.618extension of BC | 1.618extension of XA | — |
| Shark | 0.382–0.618retracement of XA | 1.128–1.618extension of AB | 1.618–2.236extension of BC | 0.886–1.128retracement of XA | — |
| Cypher | 0.382–0.618retracement of XA | — | 0.786retracement of XC | — | 1.272–1.414extension of XA |
The scanner evaluates these ratios continuously as new price data forms. A pattern is registered in the dashboard when the measured price relationships fall within the defined ratio ranges for all required legs.
Indicator Limitations — Harmonic pattern detection is based on Fibonacci ratio calculations applied to historical price swing data. The indicator identifies formations that match defined mathematical criteria — it does not predict future price movement or guarantee that a detected pattern will develop in any particular direction. Point D represents a structural reference level based on the calculated ratios, not a forecast of where price will go. All detected patterns should be evaluated within a broader analytical framework that considers overall market structure and current conditions.
Alerts
The dashboard supports configurable alerts.
Notifications can be delivered as MT4 platform alerts, email messages, or mobile push notifications when a pattern meets the defined detection criteria.
System Requirements & Installation
What you need to run the indicator, how to download and install it in MetaTrader 4, and how the license works.
System Requirements
- Platform
- MetaTrader 4 (Desktop)
- Operating system
- Windows 10 or Windows 11
- Instruments
- Forex pairs, metals, indices, CFDs and other symbols available from your broker in MetaTrader 4
- Data
- Your broker’s price feed in MetaTrader 4
Not available on MetaTrader 4 Web or Mobile. Custom indicators run in the MetaTrader 4 desktop terminal only.
License Terms
- Lifetime License
- This indicator only, 1 live and 1 demo account, one-time payment, free updates included.
- All-Access Subscription
- All indicators and trade copiers, billed monthly, cancel anytime, updates included while the subscription is active.
- Free trial
- 5 days on the subscription plan. If not cancelled, the subscription starts automatically.
- License binding
- Linked to your email and to your MetaTrader 4 trading accounts: one live account and one demo account.
- Computers
- Not restricted. The license is linked to your trading accounts, not to a specific computer.
Installation
- Get access
Start the free trial, subscribe, or buy a lifetime license on this page.
- Download
The indicator is not sent by email. Open (top right of this page) and enter the email you used for your trial, subscription or purchase. The indicator file (.ex4) downloads to your computer.
- Copy to the MetaTrader 4 data folder
In MetaTrader 4, go to
File → Open Data Folder, openMQL4 → Indicatorsand copy the downloaded .ex4 file there. - Add to a chart
Restart MetaTrader 4 or right-click Indicators in the Navigator window and select Refresh. Then drag the indicator from the Navigator onto a chart.
- Activate the license
In the indicator inputs, enter the same email. On first activation, the license is linked to that email and to the trading account the terminal is logged into.
If MetaTrader 4 asks for additional permissions when the indicator is attached, such as DLL imports or WebRequest access, allow them in the indicator’s Common tab or under
Tools → Options → Expert Advisors.
Updating: When a new version is released, download it again through and replace the existing .ex4 file in the same folder.
Installation questions? Contact support, Monday to Friday.
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Disclaimer — Software Use & Risk Disclosure
Nordman Algorithms is a trade name of Nordman Algorithms OÜ (Reg. No. 14435535), registered in Tallinn, Estonia.
Software Use
Software Nature & User Responsibility — Nordman Algorithms provides algorithmic software tools for technical analysis. Nordman Algorithms is not a financial advisor and is not liable for any losses. All trades conducted based on the software’s output are executed at the user’s sole discretion and risk.
Visual Markers & Signal Disclosure — This software may display visual markers (such as arrows, dots, or alerts) when predefined mathematical conditions are met. These markers are provided for educational and analytical purposes only, must not be interpreted as financial guidance, and do not constitute a recommendation to buy, sell, or hold any financial instrument. Users must independently validate all visual cues within their own trading methodology.
No Financial Advice — Nordman Algorithms does not provide discretionary trading signals, investment advice, or managed signal services. Our software represents a mathematical visualization of historical and real-time data. The appearance of a visual marker does not guarantee a profitable trade or predict future market behavior.
Read the full Terms of Service →Risk Disclosure
Trading Risk Warning — Futures, Forex, and options trading involve significant risk. Risk capital is money that can be lost without jeopardizing financial security. Only risk capital should be used for trading. Past performance is not indicative of future results. An investor could potentially lose all or more than the initial amount committed.
ESMA Risk Warning — Financial instruments, especially those involving leverage such as CFDs and Forex, are complex and carry a high risk of rapid financial loss. Our software provides analytical outputs and visual markers based on predefined mathematical conditions and does not mitigate or reduce inherent market risks. You should carefully consider whether you understand how leveraged financial instruments work and whether you can afford the high risk of losing your capital.
CFTC Rule 4.41 — Hypothetical or simulated performance results have inherent limitations. Unlike actual performance records, simulated results do not represent real trading. Because trades have not actually been executed, these results may under- or over-compensate for the impact of market factors such as liquidity. Simulated results are also subject to the benefit of hindsight. No representation is being made that any account will achieve profits or losses similar to those shown.
Read the full Risk Disclosure →Trademark Notice — MetaTrader 4 and MT4 are trademarks of MetaQuotes Ltd. Nordman Algorithms is an independent software developer and is not affiliated with, sponsored by, or endorsed by MetaQuotes Ltd. References to MetaTrader 4 identify software compatibility.
Need a different setup?
We can customize this indicator to your requirements: add new features, change the calculation logic, or combine several tools into a single solution. We also build Expert Advisors on your own logic, with configurable modules such as dynamic risk parameters, multi-stage trailing stops and additional confirmation filters.
Every project is delivered with full source code and post-delivery support. Fixed-price quote before development begins.
