Head and Shoulders Visual Indicator for MetaTrader 4 Download - [TradingFinder]

The Head and Shoulders Indicator for MetaTrader 4 predicts market trend reversals. Designed based on Technical analysis indicator, it is divided into two types: Head and Shoulders Top (Bearish), Inverse Head and Shoulders (Bullish).

Head and Shoulders Visual Specifications Table

Below is a table displaying the specifications of the Head and Shoulders Visual Indicator for MT4:

Uptrend Conditions

The price chart displays the Swiss Franc against the Japanese Yen (CHF/JPY) in the 1-hour timeframe.

The Inverse Head and Shoulders pattern indicates a trend reversal from bearish to bullish, typically forming at the end of a downtrend.

A breakout above the neckline generates a buy signal (Buy).

Downtrend Conditions

The following chart shows the USD/CAD currency pair in a 1-minute timeframe.

This chart shows the Head and Shoulders pattern, which indicates a trend reversal from bullish to bearish.

This harmonic pattern typically forms after an uptrend and generates a sell entry signal upon a neckline breakout.

Indicator Settings

The indicator settings panel is shown in the image below:

• Display Zig Zag Line: Show the Zig Zag line
• Pivot Period Of Zig Zag Line: Set the pivot period of the Zig Zag line
• Style of Zig Zag Line: Define the style of the Zig Zag line
• Color of Zig Zag Line: Set the color of the Zig Zag line
• Zig Zag Line Width: Adjust the thickness of the Zig Zag line
• Proximity Percent (Max Slope Of Neck Line %): Set the maximum slope percentage for the neckline
• Display Head & Shoulders: Enable or disable the Head and Shoulders pattern display
• Color of Head & Shoulders: Choose the color of the Head and Shoulders pattern
• Color of Reverse Head & Shoulders: Choose the Inverse Head and Shoulders pattern color

Conclusion

The Head and Shoulders Visual Indicator in MetaTrader 4 is a tool for automatically identifying Head-and-Shoulders Top (Bearish) and inverted head-and-shoulders (Bullish) patterns.

This MT4 indicator detects key points, including the left shoulder, head, right shoulder, and neckline, providing entry and exit zones.