Anti Butterfly Harmonic Pattern Indicator MT4 Download - [TFlab]

The Anti Butterfly Harmonic Pattern Indicator precisely identifies the pivotal points X, A, B, C, and D, automatically plotting the harmonic pattern structure on the chart.

The Anti Butterfly Harmonic Pattern Indicator highlights bullish patterns in red and bearish patterns in blue across different market trends.

Anti Butterfly Harmonic Pattern Specifications Table

The table below presents the key features of the Anti Butterfly Harmonic Pattern Indicator:

Indicator Overview

The Anti Butterfly Harmonic Pattern Indicator consists of four primary waves: XA, AB, BC, and CD. Accurate detection of Fibonacci ratios for each wave is crucial. The structural features of the harmonic pattern waves are as follows:

• XA wave: The initial price movement;
• AB wave: A retracement of 38.2% to 61.8% of the XA wave;
• BC wave: A retracement of 38.2% to 88.6% of the AB wave;
• CD wave: An extension of the XA wave that typically exceeds 127.2% and may reach up to 161.8% or more.

The primary difference between the Anti Butterfly Harmonic Pattern and the classic Butterfly Pattern lies in the length of the CD wave and the associated Fibonacci ratios, which are visualized on the chart.

Uptrend Conditions

The chart below shows the SOL/USD (Solana) pair in the 1-hour timeframe. The indicator detects a bearish Anti-Butterfly pattern, identifies point D as the Potential Reversal Zone (PRZ), and generates a buy signal.

Downtrend Conditions

The following chart shows the GBP/USD pair in a 30-minute timeframe. In this case, the indicator identifies an Anti Butterfly Harmonic Pattern forming at the market top, with point D signaling an entry for sell positions.

Indicator Settings

The image below displays the settings panel of the Anti Butterfly Harmonic Pattern Indicator:

• Minimum Length Of Wave (candle): Minimum wavelength (measured in candles)
• Num Of Previous Candle: Number of previous candles analyzed
• Show Lines: Display pattern lines
• BreakPivot: Display Break pivot
• Original pivot to broken pivot (Pipet): Distance from original pivot to broken pivot
• Shift: Amount of horizontal shift
• Bullish Pattern: Display bullish patterns
• Bearish Pattern: Display bearish patterns
• Style Of Line: Line style
• Width Of Line: Line thickness
• Custom Color Lines (Bearish Harmonic): Custom color for bearish harmonic pattern lines
• Custom Color Lines (Bullish Harmonic): Custom color for bullish harmonic pattern lines
• Custom Color Of Text: Text color for annotations

Conclusion

The Anti-Butterfly Harmonic Pattern Indicator is valuable for identifying harmonic patterns and price reversal points in financial markets such as cryptocurrencies, Forex, and commodities.

This indicator accurately identifies entry and exit points by utilizing Fibonacci ratios and distinct geometric structures.