Anti Bat Harmonic Pattern Indicator for MT4 - Download - [TradingFinder]

The Anti Bat Harmonic Pattern Indicator automatically detects and draws patterns using price structure analysis algorithms and Fibonacci ratios.

This harmonic pattern is essentially the inverse version of the classic Bat pattern. While the bat pattern aims to identify a strong reversal zone after a deep retracement, the anti-bat pattern features a shallower correction, with price reversals occurring at Fibonacci ratios different from the original bat.

Anti Bat Harmonic Pattern Specifications Table

The features of the Anti Bat Harmonic Pattern Indicator are shown in the table below.

Uptrend Conditions

On the Dow Jones Index price chart with a 4-hour timeframe, the Anti-Bat Harmonic Pattern indicator generates a buy setup at point D, where the bullish Anti-Bat pattern is fully formed.

This condition may provide a favorable point for trend reversal and entry into long positions.

Downtrend Conditions

The Anti Bat Harmonic Pattern Indicator detects a downtrend on the CAD/JPY chart.

Based on Fibonacci ratios, a sell signal is generated when the price reaches point D, located in the Potential Reversal Zone (PRZ). This zone is considered a valid area for initiating a new downward trend.

Indicator Settings

The settings for the Anti Bat Harmonic Pattern Indicator are shown in the image below:

• Minimum Length Of Wave (candle): Minimum wavelength (in candles)
• Num Of Previous Candle: Number of past candles for data analysis
• Show Lines: Display pattern lines
• Break Pivot: Pivot break
• Original pivot to broken pivot (Pipet): Distance between the original and broken pivot
• Shift: Horizontal shift value
• Bullish Pattern: Enable detection of bullish patterns
• Bearish Pattern: Enable detection of bearish patterns
• Style Of Line: Pattern line style
• Width Of Line: Line thickness
• Custom Color Lines (Bearish Harmonic): Custom color for bearish harmonic lines
• Custom Color Lines (Bullish Harmonic): Custom color for bullish harmonic lines
• Custom Color Of Text: Text color on the chart

Conclusion

The Anti Bat Harmonic Pattern Indicator automatically detects the Anti Bat pattern in technical analysis and identifies potential price reversal zones based on Fibonacci ratios. Within the PRZ, this tool offers suitable trading opportunities.