5-0 Harmonic Pattern Indicator in MT5 Download – [Trading Finder]

The 5-0 Harmonic Pattern indicator is one of the specialized tools for identifying harmonic patterns in the Forex market, available on the MetaTrader 5 platform.

Traders can develop more precise trading strategies and identify potential price reversal areas (PRZ) by using this indicator and combining it with technical analysis.  

5-0 Harmonic Pattern Indicator Table

The general specifications of the 5-0 Harmonic Pattern indicator are listed in the section below.

Bullish Pattern

On the 30-minute chart of the EURUSD currency pair, a bullish 5-0 harmonic pattern has formed. Traders can identify this pattern using the 5-0 Harmonic Pattern Identification indicator and, after the pattern is completed and the potential price reversal area (PRZ), shown by point D, is displayed, enter the market in a buy position.

Bearish Pattern

On the 1-hour chart of the GBPUSD currency pair, a bearish 5-0 harmonic pattern has formed. After completion, the price entered a downtrend.

Traders can identify the potential price reversal area (PRZ) using the 5-0 Harmonic Pattern indicator and, after the pattern completes at point D, enter a sell trade.

5-0 Harmonic Pattern Indicator Settings

The settings for the 5-0 Harmonic Pattern indicator are provided in the section below:

• Minimum Length Of Wave: Adjust the minimum length of a wave.  
• Num Of Previous Pivot: Adjust the number of previous candles to examine the market.  
• Show Lines: Adjust whether to display pattern lines.  
• Break Pivot: Adjust whether to check for pivot breakouts.  
• Original pivot to broken pivot (Pipet): Adjust the distance (in pipettes) between the original pivot and the broken pivot.  
• Shift: Adjust the horizontal shift of the lines.  
• Bullish Pattern: Adjust whether to display bullish patterns.  
• Bearish Pattern: Adjust whether to display bearish patterns.  
• Custom Color Lines (Bearish Harmonic): Adjust the color for bearish harmonic pattern lines.  
• Custom Color Lines (Bullish Harmonic): Adjust the color for bullish harmonic pattern lines.  
• Custom Color Of Text: Adjust the color for the explanatory text on the chart.  

Summary

The 5-0 Harmonic Pattern indicator is a useful tool for traders looking to identify this pattern on the price chart.

As an effective trading strategy in the Forex market, by identifying potential price reversal areas (PRZ) and analyzing the market structure, this indicator enables traders to correctly identify suitable trading opportunities.