Dragon Harmonic Pattern Indicator for MT4 Download – Free – [TradingFinder]

The Dragon Harmonic Pattern Indicator offers an automatic, visual representation of the reversal Dragon pattern. This pattern appears in shapes resembling the letters "M" or "W" and helps identify Potential Reversal Zones (PRZ).

Built on the XABCD structure, this MT4 harmonic pattern indicator uses Fibonacci ratios to detect the Dragon formation.

Dragon Harmonic Pattern Indicator Specifications Table

The following table outlines the specifications and features of the Dragon Harmonic Pattern Indicator:

Bullish Dragon Pattern

On the one-hour chart of Gold vs. the US Dollar (XAU/USD), the bullish Dragon pattern is visible.

After corrections at points "A" and "B," the pattern completes at point "D," where the price begins an upward trend.

Bearish Dragon Pattern

According to the 30-minute chart of USD/CAD, the indicator marks the bearish Dragon pattern in pink.

The image shows that the price reverses direction and turns bearish after the pattern completes at point "D."

Dragon Harmonic Pattern Indicator Settings

Here are the adjustable parameters in the Dragon Harmonic Pattern Indicator panel:

• Minimum Length of Wave (candle): Minimum number of candles to form each wave
• Num of Previous Candle: Number of past candles for wave identification
• Show Lines: Show pattern lines
• Break Pivot: Show or hide broken pivot lines on the chart
• Original pivot to broken pivot (Pipet): Allowable distance between original and broken pivots
• Shift: Shift pattern lines forward/backward on the chart
• Bullish Pattern: Show a bullish Bat pattern
• Bearish Pattern: Show bearish Bat pattern
• Style of Line: Type of line connecting pattern points
• Width of Line: Line thickness of the drawn patterns
• Custom Color Lines (Bullish Harmonic): Choose a color for bullish pattern lines
• Custom Color Lines (Bearish Harmonic): Choose a color for bearish pattern lines
• Custom Color of Text: Text and label color

Conclusion

The Dragon Harmonic Pattern Indicator can detect both bullish and bearish Dragon formations, which are recognized as harmonicreversal patterns in technical analysis. It visually maps out the patterns on MT4 candlestick charts indicator, highlighting potential trend reversal zones.

The Dragon Harmonic Pattern Indicator also provides traders with optimized entry points across all markets, including Forex, Crypto, Stocks, and more.