Recruitment of participants PZ Harmonacci Patterns 11.6 for MT5

PZ Harmonacci Patterns 11.6 for MT5



The Harmonacci 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.

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  • 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
  • It implements email/sound/visual alerts

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.

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  • Fibonacci projections are vector-independent
  • It implements email/sound/push alerts
  • It plots the ABCD projection

Usage Tips

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  • 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

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  • 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
  • The scanner loads blank, it never scans patterns to the past
  • The scanner opens charts using your default chart template

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.