harmonic pattern finder
Info
The harmonic pattern finder is a Indicator for MetaTrader 5 that more than 50 new patterns. more appealing visualization and styling.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use harmonic pattern finder
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
more than 50 new patterns.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: institutional harmonic volumetric gravity center indicator - another powerful indicator for MetaTrader 5 traders.
Also recommended: demo buffer pattern indicator - similar indicator with strong performance on MetaTrader 5.
more than 50 new patterns.
more appealing visualization and styling.
a better matching algorithm allowing to find emerging patterns analytically.
display of potential reversal zone (p.r.z.), pattern names, as well as point labeling.
several possibilities for zigzag selection in the inputs.
installation:
the harmonic pattern finder uses a zigzag indicator in order to extract peaks and troughs, and cannot run without at least one zigzag indicator properly installed in the "indicators/downloads" directory. the used zigzags are:
(which requires the alexstal_outsidebar.mqh to be placed in the "include" directory)
if you have already downloaded these zigzag indicators previously there should be no need to reinstall them, otherwise they are also included with this download.
fig. 1: end of the p.r.z. shown as lines. this allows to assess the risk before trading.
fig. 2: patterns can be filled, and emerging patterns shown. this allows to anticipate a trade opportunity in advance.
this indicator is a joint work between and
You may also like: nonparametric zig zag based on clyde lee patterns - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.