ABC Harmonic Pattern Indicator for MT5 – Download - [TradingFinder]

The ABC Harmonic Pattern Indicator is one of the technical analysis tools on the MetaTrader 5 platform, categorized under harmonic reversal patterns.

This indicator operates automatically and, by drawing red and gray lines, clearly and visually displays the complete ABCD pattern structure on the chart.

ABC Harmonic Pattern Specifications Table

The following table shows the key features of the ABC Harmonic Pattern Indicator.

Uptrend Conditions

The image below shows the price chart of the Euro/Canadian Dollar pair (EURCAD) on the 5-minute timeframe.

When the price drops from point A to B, then corrects upward to point C, and once again moves to point D, a bullish ABCD pattern structure forms. In this case, a reversal from point D signals the start of an uptrend.

Downtrend Conditions

The following image displays the downtrend of the Australian Dollar/Canadian Dollar pair (AUD/CAD) on the 30-minute timeframe.

In this pattern, the price first rises from point A to B, then retraces downward to point C; afterward, it increases again to reach point D.

This price behavior indicates the formation of a bearish ABCD harmonic pattern.

Indicator Settings

The image below shows the settings panel of the ABC Harmonic Pattern Indicator:

• Minimum Size of Wave (Must be greater…): Minimum wave size
• Num Of Previous Pivot: Number of previous pivot points
• Show Lines: Show pattern lines
• Break Pivot: Break pivot
• Original pivot to broken pivot (Pipet): Distance between the original pivot and the broken pivot
• Shift: Horizontal shift amount
• Bullish Pattern: Enable detection of bullish patterns
• Bearish Pattern: Enable detection of bearish patterns
• Style Of Line: Style of pattern lines
• Width Of Line: Line thickness
• Custom Color Lines (Bearish Harmonic): Custom color for bearish harmonic pattern lines
• Custom Color Lines (Bullish Harmonic): Custom color for bullish harmonic pattern lines
• Custom Color Of Text: Color of display texts on the chart

Conclusion

The ABC Harmonic Pattern Indicator is one of the reversal indicators in technical analysis, created based on precise Fibonacci ratios and structural symmetry between price movements. This indicator can accurately identify potential price reversal zones and clearly displays turning points at area D.