Alternate Bat Harmonic Pattern Indicator MT4 - Free Download

The Alternate Bat Harmonic Pattern Indicator is a trading strategy based on classic patterns, specifically designed for the MetaTrader 4 platform.

Classic-style traders can combine technical analysis with this indicator to identify the PRZ (Potential Reversal Zone).
This indicator is based on Fibonacci ratios and draws lines and labels to highlight key pattern points on the chart.

Alternate Bat Harmonic Pattern Indicator Overview Table

Below is the general specification table for the Alternate Bat Harmonic Pattern Indicator.

Bullish Pattern Formation

On the 5-minute chart of the AUDCAD currency pair, an Alternate Bat Harmonic Pattern has been formed, detected and displayed by the indicator.
Classic-style traders can use this indicator to correctly identify the pattern and, after pattern completion and trade setup confirmation, enter a buy position on the price chart.

Bearish Pattern Formation

On the 4-hour chart of the XAUUSD symbol, the indicator has detected a Bearish Alternate Bat Harmonic Pattern and drawn it on the chart.
Traders can enter sell positions based on the PRZ after the pattern has formed and completed.

Alternate Bat Harmonic Pattern Indicator Settings

Below are the settings related to the Alternate Bat Harmonic Pattern Indicator:

• Minimum Length Of Wave (Candle): Select minimum wave length (based on the number of candles);
• Num Of Previous Candle: Choose the number of previous candles for market analysis;
• Show Lines: Enable/disable pattern line display;
• Break Pivot: Enable pivot break analysis;
• Original Pivot to Broken Pivot (Pipet): Choose the distance (in pipettes) between the original pivot and broken pivot;
• Shift: Choose horizontal shift of lines;
• Bullish Pattern: Enable bullish pattern display;
• Bearish Pattern: Enable bearish pattern display;
• Style Of Line: Select line style;
• Width Of Line: Select line thickness;
• Custom Color Lines (Bearish Harmonic): Choose line color for bearish patterns;
• Custom Color Lines (Bullish Harmonic): Choose line color for bullish patterns;
• Custom Color Of Text: Choose color for the explanatory text on the chart.

Conclusion

The Alternate Bat Harmonic Pattern Indicator is a specialized tool for identifying harmonic patterns on price charts.
It helps traders who are looking to detect Alternate Bat Patterns accurately identify market structure changes, optimal entry and exit points, and the Potential Reversal Zone (PRZ).
After analyzing the pattern and confirming the trading setup, traders can enter buy or sell positions.