Anti NenStar Harmonic Pattern indicator for MT5 Download – Free – [TFlab]

The Anti-NenStar Harmonic Pattern Indicator is developed based on advanced harmonic pattern concepts. With its proprietary algorithm called "Anti NenStar," this indicator performs harmonic pattern recognition with greater speed and accuracy.

This trading tool eliminates weak or incomplete patterns and only displays valid and reliable signals. Additionally, the patterns drawn by this indicator are mainly of the reversal type and can indicate potential trend direction changes.

Specification Table of the Anti NenStar Harmonic Pattern Indicator

The table below shows the specifications of the Anti NenStar Harmonic Pattern Indicator.

Bullish Trend Conditions

According to the NZD/USD 1-hour chart, if the price stabilizes above point "D," this indicates the beginning of a bullish trend. The bullish pattern is displayed on the chart in the shape of the letter "M" and pink color.

Bearish Trend Conditions

According to the XAU/USD (gold to US dollar) 1-hour chart, a significant price drop is observed after the harmonic pattern is completed and point "D" is formed. In this case, point "D" is considered the ideal zone for entering sell trades.

This tool draws the bearish pattern on the chart in dark blue, in the shape of the letter "W."

Indicator Settings Anti NenStar Harmonic Pattern

The settings of the Anti NenStar Harmonic Pattern Indicator can be seen in the image below:

• Minimum Length of Wave (candle): Minimum number of candles required to form each wave
• Num of Previous Candle: Number of previous candles considered for wave identification
• Show Lines: Display pattern lines
• Break Pivot: Toggle to show/hide broken pivot lines on the chart
• Original pivot to broken pivot (Pipet): Allowed distance between original and broken pivot
• Shift: Shifts pattern lines forward or backward on the chart
• Bullish Pattern: Display the bullish Anti NenStar pattern
• Bearish Pattern: Display the bearish Anti NenStar pattern
• Custom Color Lines (Bearish Harmonic): Set a custom color for bearish pattern lines
• Custom Color Lines (Bullish Harmonic): Set a custom color for bullish pattern lines
• Custom Color of Text: Customize color of labels and text

Conclusion

This technical analysis method is used to identify reversal points and recurring patterns in price charts. The Anti NenStar Harmonic Pattern Indicator graphically displays bullish and bearish patterns, clearly highlighting key price trend reversal points.

This indicator is designed specifically for the MetaTrader 5 platform and is suitable for use in various markets, including Forex, cryptocurrencies, stocks, and commodities.