Alternate Bat Harmonic Pattern Indicator MT5 - Free Download

The Alternate Bat Harmonic Pattern Indicator is a specialized tool for detecting harmonic patterns by using Fibonacci ratios and pivot points to identify the Alternate Bat pattern on price charts.
It is an advanced trading strategy designed for traders seeking precise harmonic pattern detection alongside technical analysis.

Alternate Bat Harmonic Pattern Indicator Overview Table

Below is the general specification table for the Alternate Bat Harmonic Pattern Indicator.

Bullish Harmonic Pattern

On the 1-hour chart of the EURUSD currency pair, the indicator has detected a Bullish Alternate Bat Pattern using pivot points and Fibonacci ratios.
This allows traders to identify potential price reversal zones and enter buy trades upon the formation of the pattern and recognition of the PRZ.

Bearish Harmonic Pattern

On the 5-minute chart of Gold (XAUUSD), a Bearish Alternate Bat Pattern has formed.
The indicator has detected and displayed this pattern by drawing the necessary lines on the chart.

Classic-style traders can use this pattern to recognize potential price reversal points, conduct deeper technical analysis, and, upon pattern confirmation, enter sell trades.

Alternate Bat Harmonic Pattern Indicator Settings

Below are the settings for the Alternate Bat Harmonic Pattern Indicator:

• Minimum Length Of Wave: Set the minimum wave length (based on the number of candles);
• Num Of Previous Pivote: Set the number of previous candles to analyze the market;
• Show Lines: Enable/disable the pattern line display;
• Break Pivot: Enable pivot break analysis;
• Original Pivot to Broken Pivot (Pipet): Set the distance (in pipettes) between the original pivot and broken pivot;
• Shift: Adjust the horizontal shift of the lines;
• Bullish Pattern: Enable bullish pattern display;
• Bearish Pattern: Enable bearish pattern display;
• Style Of Line: Select line style;
• Width Of Line: Set line thickness;
• Custom Color Lines (Bearish Harmonic): Set color for bearish pattern lines;
• Custom Color Lines (Bullish Harmonic): Set color for bullish pattern lines;
• Custom Color Of Text: Set the color of explanatory text on the chart.

Conclusion

The Alternate Bat Harmonic Pattern Indicator is a practical tool for identifying market structure changes and trend reversals.
By detecting Alternate Bat harmonic patterns, the indicator enables traders to accurately identify potential price reversal zones.
Using the patterns identified by this indicator, traders can perform more professional chart analysis and detect price reversal points for their trades.