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

Swan Harmonic Pattern indicator, a practical tool based on harmonic patterns, used for identifying potential reversal points and forecasting future market movements.

Another key feature of this indicator is its ability to display two distinct modes of Black Swan and White Swan patterns for both bullish and bearish market directions.

Swan Harmonic Pattern Indicator Specifications

The table below contains the specifications of the Swan Harmonic Pattern indicator.

Bullish Black Swan Pattern

On the 1-hour chart of Bitcoin (BTC), a Bullish Black Swan pattern is formed. As shown in the image, point “D” acts as a potential reversal point upon pattern completion, which can be considered an entry point for long (buy) positions.

The inverse of this pattern is known as the Bullish White Swan.

Bearish Black Swan Pattern

A Bearish Black Swanpattern is observed on the 1-hour chart of the NZD/USD currency pair. As illustrated, once point “D” is formed, the trend reverses, offering an entry point for short (sell) positions.

Conversely, this pattern’s inverse is called the Bearish White Swan.

Swan Harmonic Pattern Indicator Settings

The following image shows the available settings for the Swan Harmonic Pattern Indicator:

• Minimum Length of Wave (Candle): Defines the minimum wavelength (candlesticks) required for pattern detection
• Num of Previous Candle: Number of previous candles used in pattern recognition
• Show Lines: Enables pattern lines to display
• XABCD: Sets the label color for pattern points
• Break Pivot: Activates conversion of pivot points to broken pivot points
• Original Pivot to Broken Pivot (Pipet): Sets the distance (in pips) between original and broken pivot
• Shift: Shifts the chart data
• Style of Line: Sets line style
• Width of Line: Sets line thickness
• Bullish Pattern: Displays a bullish pattern
• Bullish White: Sets color for Bullish White Swan
• Bullish Black: Sets color for Bullish Black Swan
• Bearish Pattern: Displays a bearish pattern
• Bearish White: Sets color for Bearish White Swan
• Bearish Black: Sets color for Bearish Black Swan

Conclusion

The Swan Harmonic Pattern Indicator, based on internal calculations, identifies strong black-and-white reversal patterns for both bullish and bearish directions.

As a trading tool, it offers extensive customization, including separate color settings for each pattern and the ability to modify internal calculations.