Classic Cypher Harmonic Pattern Indicator for MT4 Download - [TradingFinder]

The Classic Cypher Harmonic Pattern Indicator is an advanced technical analysis structure based on precise Fibonacci ratios. It is a harmonic pattern indicator.

This pattern consists of four consecutive waves and has five key points labeled X, A, B, C, and D, formed according to a specific sequence of price fluctuations. The primary goal of this pattern is to identify key areas for potential price trend reversals at sensitive market zones.

Classic Cypher Harmonic Pattern Specifications Table

A summary of the key features of the Classic Cypher Harmonic Pattern Indicator is provided in the table below:

Uptrend Conditions

The following price chart shows Ethereum in a one-hour timeframe. In this indicator, the pattern begins with a price increase from point X to A. Then, the market experiences a minor correction down to point B. Afterward, wave BC surges powerfully, surpassing the previous high at point A.

Eventually, the price falls to point D. This zone is considered a strong potential support area, often resulting in a significant bullish reversal.

Downtrend Conditions

The image below displays the 30-minute chart of XAUUSD (Gold).

The price begins by descending from point X to A in the bearish scenario of the Classic Cypher Harmonic Pattern. The market then enters a correction phase, pushing prices to point B.

Subsequently, wave BC drops with even greater strength, breaking below the previous low at point A. Finally, the price rises to point D, a zone that indicates a high probability area for a bearish price reversal.

Indicator Settings

The image below displays the settings panel of the Classic Cypher Harmonic Pattern Indicator:

• Minimum Length Of Wave (candle): Minimum length of a wave (in candle count)
• Num Of Previous Candle: Number of previous candles to scan the market
• Show Lines: Display pattern lines
• BreakPivot: Detect pivot breakouts
• Original pivot to broken pivot (Pipet): Distance (in pipets) from original pivot to broken pivot
• Shift: Horizontal shift of lines
• BullishPattern: Show bullish patterns
• BearishPattern: Show bearish patterns
• Style Of Line: Line style
• Width Of Line: Line thickness
• Custom Color Lines (Bearish Harmonic): Color of bearish harmonic lines
• Custom Color Lines (Bullish Harmonic): Color of bullish harmonic lines
• Custom Color Of Text: Color of chart annotation text

Conclusion

The Classic Cypher Harmonic Pattern Indicator is a reversal harmonic structure that relies on Fibonacci ratios to identify the D point, a high-probability reversal zone. This pattern performs exceptionally well in volatile market conditions.