Quasimodo Pattern (QM Pattern) Indicator MT4 - Free Download

The QM Pattern Indicator is a popular RTM-style pattern recognition trading tool in the MetaTrader 4 (MT4) platform. It assists traders in identifying the QM pattern on charts. This pattern is an advanced version of the head-and-shoulders pattern, with the reversed QM pattern drawn in red and the standard QM pattern drawn in blue.

QM Pattern Indicator Table

QM Pattern Example

In the 4-hour USD/CHF chart during an uptrend, the QM Pattern Indicator identifies a QM pattern and draws the lines of the pattern in blue on the chart. After the pattern forms, the price begins to fall, and a Change of Character (CHoCH) occurs.

Reversal QM Pattern

In the 15-minute GBP/USD chart following a downtrend, the QM Pattern Indicator identifies and marks a reversal QM pattern in red. After the price breaks through the neckline, the price sharply rises, continuing upward.

Indicator Settings

• Show Zig Zag Line: Display zigzag lines
• Pivot Period of ZigZag Line: Pivot period for zigzag lines
• ZigZag Line Style: Style of zigzag lines
• ZigZag Line Color: Color of zigzag lines
• ZigZag Line Width: Width of zigzag lines
• Show QM: Display the QM pattern
• QM Color: Color of the QM pattern
• Reverse QM Color: Color of the reversal QM pattern

Summary

The QM Pattern Indicator, one of the setups of the RTM style, helps traders identify and visualize the QM pattern. This indicator highlights the QM pattern in blue and the reversal QM pattern in red, allowing traders to recognize these patterns easily on their charts. This tool can also be used in various markets, including cryptocurrencies, the forex market, commodities, and stocks.