Swan Harmonic Pattern Indicator for MT5 Download – Free – [TradingFinder]

The Swan Harmonic Pattern indicator displays reversal patterns in bullish and bearish directions.

This MT5 harmonic pattern indicator effectively identifies price reversal points and forecasts potential future trends in the forex market. One of the standout features of the Swan Harmonic Pattern indicator is its ability to visualize two distinct pattern types the Black Swan and the White Swan.

First, set the pip value based on your trading symbol in the "Original pivot to broken pivot" field to use the indicator.

Swan Harmonic Pattern Indicator Specifications Table

The specifications of the Swan Harmonic Pattern indicator are presented in the table below.

Bullish Swan Harmonic Pattern

The bullish swan pattern is drawn in pink based on the AUD/NZD pair in a one-hour timeframe. In this scenario, point "D" acts as the reversal point, providing a good opportunity for Buy entries. The reversed version of this pattern is called the White Bullish Swan.

Bearish Swan Harmonic Pattern

The chart analysis below shows that the Swan Harmonic Pattern indicator displays the Black Bearish Swan pattern. As shown, after forming point "D," the price reverses, signaling a Sell opportunity. The inverse version of this harmonic pattern is known as the White Bearish Swan.

Swan Harmonic Pattern Indicator Settings

The following image shows the customizable settings of the Swan Harmonic Pattern indicator:

• Minimum Length of Wave (Candle): Defines the minimum wavelength in candles for pattern recognition
• Num of Previous Candle: Number of previous candles used to detect the harmonic pattern
• Show Lines: Enables pattern line visualization
• Break Pivot: Activates switch from original to broken pivot points
• Original Pivot to Broken Pivot (Pipet): Sets the pip distance between original and broken pivot
• Shift: Shifts chart data
• Bullish Pattern: Toggles display a bullish pattern
• Bearish Pattern: Toggles display a bearish pattern
• Custom Color Lines (Bearish Harmonic): Sets color for bearish patterns
• Custom Color Lines (Bullish Harmonic): Sets color for bullish patterns
• Custom Color of Text: Sets label text color

Conclusion

The Swan Harmonic Pattern Indicator is a tool for identifying reversal harmonic patterns. It visually renders Black and White Swan patterns. The MT5 candlestick indicator settings in allow users to customize internal calculations and pattern colors.

The Swan Harmonic Pattern supports multi-timeframe analysis and is applicable across all market conditions.