Harmonic patterns are used to best predict the possible tipping point in trends. Therefore, the harmonic patterns are the secondary patterns of the inflection point patterns. Traditionally, the Harmonic Pattern was identified manually by connecting extreme points in the charts. Manual detection of harmonic patterns is quite tedious and not suitable for all traders. It is often exposed under the subjective identification of the pattern with manual detection of the pattern. To avoid these limitations, Harmonic Pattern Plus was designed to automate your harmonic pattern detection process.
Harmonic Pattern Plus MT4 Indicator Overview
The functionality of the Harmonic Pattern Plus goes beyond the manual pattern detection and focus that appears in textbooks. Harmonic Pattern Plus provides many harmonic patterns that have been tested in many historical moments, and have been researched by its developers. In addition, you can use the three most important trading items, including the Pattern Completion Interval (PCI), the Potential Investment Zone (PRZ), and the Potential Continuation Zone (PCZ), to improve the accuracy of your trade. You will be able to experience, with the use of this indicator, very high performance in your trade.
The main features of the Harmonic Pattern Plus are:
- Up to 11 Harmonic Patterns can be detected automatically.
- Detection of potential investment area (PRZ) for identification of point D.
- Detection of potential continuation zone (PCZ) for prediction of future price movements.
- Pattern termination interval detection (PCI) for precision trading.
- Forward and backward response function to create a new trading strategy.
- Function locking and unlocking patterns to avoid repainting patterns.
- Up to 52 different upward and downward patterns characteristic of candelabra recognition.
- You have email support, sound alerts or Push notification
- Setting Harmonic Pattern Plus indicators and Parameters
Most of the time, the default settings will work. You can change the appearance of the indicator in your chart by changing the input settings. All input settings are easy to understand. The columns on the left have a simple description, and you only need to alter the value in the column on the right.
The purchase of this item does not include any free encoding support for building EA or other indicators. All harmonic pattern indicators as well as the scanner require repainting. Use the cost-effective scanner if you do not want to repaint Elliott’s harmonic pattern and Wave Pattern indicator. The cost-effective scanner is a harmonic pattern that has not been repainted or delayed anywhere in the world.
We are talking about a well-known and widely used indicator, especially among experienced traders. This indicator was first created in 2014, and has since received hundreds of comments. Most of them are very positive. We can therefore say that this indicator is very useful. This indicator is available on the MQL Market in the indicators section at a price tag of 98 USD. You can also rent it for 30 USD per month. You can download a demo version to test it out before buying it.
This Forex service can be found at the following web address: https://www.mql5.com/en/market/product/4488