Leonardo Harmonic Pattern Indicator for MetaTrader 4 Download - [TradingFinder]

The Leonardo Harmonic Pattern Indicator is considered one of the most precise tools for price reversal analysis based on Fibonacci ratios in Technical analysis.

This MetaTrader 4 classic chart pattern indicator closely resembles the Bat Pattern but exhibits fundamental differences in its Fibonacci levels.

By accurately identifying the waves XA to CD, potential entry or exit zones can be determined with precision. Key ratios such as 50%, 88.6%, and 261.8% are critical in forming this structure.

Leonardo Harmonic Pattern Indicator Specifications Table

The key features of the Leonardo Harmonic Pattern Indicator are presented in the table below:

Uptrend Conditions

On the GBP/JPY chart, once the Leonardo Pattern structure is complete, the indicator precisely maps out the XA, AB, BC, and CD waves, identifying point D as a reversal zone.

At this level, based on the defined Fibonacci ratios, the probability of a trend reversal from bearish to bullish increases.

Downtrend Conditions

The following image shows a downtrend in the CAD/CHF currency pair. Upon completing the harmonic structure, the indicator highlights point D as a sensitive area for a potential reversal.

Here, Fibonacci ratios between AB, BC, and CD are analyzed, and as the price approaches point D, the chance of a bearish reversal rises.

Indicator Settings

The settings of the Leonardo Harmonic Pattern Indicator are shown below:

• Minimum Length Of Wave (candle): Minimum number of candles to detect a wave
• Num Of Previous Candle: Number of previous candles used in calculations
• Show Lines: Toggle pattern lines on/off
• BreakPivot: Enable pivot break detection
• Original pivot to broken pivot (Pipet): Distance between the original and broken pivot (in pipets)
• Shift: Shift amount for visual positioning on the chart
• BullishPattern: Enable detection of bullish patterns
• BearishPattern: Enable detection of bearish patterns
• Style Of Line: Choose the line style
• Width Of Line: Set the line thickness
• Custom Color Lines (Bearish Harmonic): Color for bearish pattern lines
• Custom Color Lines (Bullish Harmonic): Color for bullish pattern lines
• Custom Color Of Text: Set the text color

Conclusion

The Leonardo Harmonic Pattern Indicator utilizes Fibonacci ratios to detect potential price reversal points in the financial markets. While structurally similar to the Bat Pattern, its Fibonacci levels differ significantly.

This MT4 harmonic pattern indicator consists of five key points. It analyzes price movements through XA, AB, BC, CD, and AD waves.