Anti NenStar Harmonic Pattern indicator for MT4 Download – Free – [TFlab]

The Anti NenStar Harmonic Pattern indicator is designed based on the principles of harmonic patterns. With its proprietary algorithm, called "Anti NenStar" this tool significantly enhances the accuracy and speed of pattern recognition.

This trading tool filters out weak, incorrect, or incomplete patterns, displaying only strong and valid signals. The patterns drawn belong to the category of reversal patterns, indicating potential trend direction changes.

Specification Table of the Anti NenStar Harmonic Pattern Indicator

The table below shows the key specifications of the Anti NenStar Harmonic Pattern Indicator.

Bullish Trend Conditions

According to the AUD/USD 1-hour chart, price growth and stabilization above point "D" signals the start of a bullish trend.

The bullish pattern is drawn in the letter "M" shape and displayed in pink.

Bearish Trend Conditions

Based on the 30-minute Cardano (ADA) chart, after completing the harmonic pattern and forming point "D," the price drops significantly.

Point "D" is considered a strategic entry point for sell positions in this situation. The bearish pattern is drawn in the shape of the letter "W" and shown in dark blue.

Indicator Settings Anti NenStar Harmonic Pattern

The image below shows the customizable settings panel of the Anti NenStar Harmonic Pattern Indicator:

• Minimum Length of Wave (candle): Minimum number of candles required to form each wave
• Num of Previous Candle: Number of previous candles considered for wave identification
• Show Lines: Display pattern lines
• Break Pivot: Toggle to show/hide broken pivot lines on the chart
• Original pivot to broken pivot (Pipet): Allowed distance between original and broken pivot
• Shift: Shifts pattern lines forward or backward on the chart
• Bullish Pattern: Display the bullish Anti NenStar pattern
• Bearish Pattern: Display the bearish Anti NenStar pattern
• Style of Line: Line style connecting pattern points
• Width of Line: Thickness of the pattern lines
• Custom Color Lines (Bearish Harmonic): Set a custom color for bearish pattern lines
• Custom Color Lines (Bullish Harmonic): Set a custom color for bullish pattern lines
• Custom Color of Text: Customize color of labels and text

Conclusion

Harmonic patterns in technical analysis detect reversal points and the beginning of price movements in charts.

The Anti NenStar Harmonic Pattern Indicator highlights these critical reversal zones by visually displaying bullish and bearish formations.

This trading tool is designed for the MetaTrader 4 platform and can be used in all trading strategies, making it a versatile choice for traders in any financial market.