Classic Crab Harmonic Pattern Indicator for MetaTrader 4 Download – Free – [TFlab]

The Classic Crab Harmonic Pattern Indicator is designed for the MetaTrader 4 trading platform and is used to identify the Classic Crab Harmonic patterns in price charts.

The Crab Harmonic Pattern is one of the most widely used patterns in technical analysis, introduced by Scott Carney in the year 2000.

The structure of this pattern is based on five key points: X, A, B, C, and D. In this MetaTrader 4 Harmonic Pattern Indicator, bullish patterns are displayed in pink and bearish patterns in blue.

Classic Crab Harmonic Pattern Indicator Table

The features of the Classic Crab Harmonic Pattern Indicator are summarized in the table below:

Indicator in an Uptrend

The chart below shows the AUD/CAD pair on the 1-minute timeframe. The indicator automatically identifies a bullish Crab pattern and marks the key points X, A, B, C, and D on the chart.

Point D is considered the Price Reversal Zone (PRZ), and traders can enter a buy position after confirming the necessary signals.

Indicator in a Downtrend

In the CAD/CHF pair chart, the indicator automatically identifies a bearish Crab pattern and displays it in blue.

Point D is designated as the reversal zone, and after confirming reversal signs, a sell trade can be initiated.

Classic Crab Harmonic Pattern Indicator Settings

The settings section of the Classic Crab Harmonic Pattern Indicator is shown in the image below:

• Minimum Length of Wave (candle): Minimum wave length in terms of the number of candles
• Num Of Previous Candle: Number of previous candles for analysis
• Show Lines: Show or hide pattern lines
• BreakPivot: Check for pivot break
• Original Pivot to Broken Pivot (Pipet): Distance between the original pivot and the broken pivot in pips
• Shift: Amount of data shift on the chart
• BullishPattern: Identifying bullish harmonic patterns
• BearishPattern: Identifying bearish harmonic patterns
• Style Of Line: Set the style of the lines on the chart
• Width Of Line: Set the thickness of the displayed lines
• Custom Color Lines (Bearish Harmonic): Change the color of the bearish pattern lines
• Custom Color Lines (Bullish Harmonic): Customize the color of the bullish pattern lines
• Custom Color Of Text: Set the color of the displayed text

Conclusion

The Classic Crab Harmonic Pattern Indicator is designed to automatically detect the Crab Harmonic pattern in price charts.

Identifying bullish and bearish patterns, drawing the pattern lines with styles, and marking the entry zones at point D are its key features.

This classic chart pattern indicator for MetaTrader 4 is used for more precise analysis of harmonic patterns and identifying potential price reversal zones in financial markets such as Forex.