ZUP Indicator for MetaTrader 5 Download - Free - [TradingFinder]

The ZUP Indicator is one of the harmonic pattern indicators for MT5. By drawing Fibonacci ratios for each movement leg, it enables classic style traders to identify harmonic patterns.

This indicator, by drawing lines to each pivot and calculating wave ratios, can be used to detect well-known harmonic patterns such as Gartley, Bat, AB=CD, and other common patterns.

Traders using this tool can perform more precise market analysis and identify entry and exit points.

ZUP Indicator Table

The table below outlines the general specifications of the ZUP Indicator:

Category	Harmonic Patterns - Classic and Chart Patterns - Price Action
Platform	MetaTrader 5
Skill Level	Intermediate
Indicator Type	Reversal - Leading - Non-Redrawing
Timeframe	Multi-Timeframe
Trading Style	Scalping - Day Trading - Intraday Trading
Trading Markets	Forex - Stocks - Indices

Identifying a Bullish Harmonic Pattern

In the 30-minute XAUUSD chart, the Fibonacci ratios for each movement leg are displayed.

Traders can use the ZUP Indicator to analyze the Fibonacci ratios of each movement wave and identify harmonic patterns forming in the market, determining their trading positions accordingly.

In this chart, an AB=CD Harmonic Pattern has been identified. After the pattern is completed, the price has moved upward, initiating a bullish trend.

This price movement has continued toward the first take-profit level and then the final take-profit level, yielding significant profits for traders.

Identifying a Bearish Harmonic Pattern

In the 1-hour NZD/USD chart, the Fibonacci ratios for each movement leg have been identified using the ZUP Indicator.

By analyzing the sides formed in the chart, a Bearish Alternate Bat Harmonic Pattern has been identified. After the pattern is completed and fully formed, a bearish trend has begun.

Traders can identify harmonic patterns based on the drawn sides and displayed ratios, performing more specialized analysis on the chart to identify the best trading opportunities.

ZUP Indicator Settings

The settings for the ZUP Indicator are as follows:

• min Bars: Set the minimum number of candles for identifying a price wave;
• min Size: Set the number of High and Low points to connect and identify a pattern;
• ExtMaxBar: Set the number of candles to analyze;
• Ext Size Txt: Set the size of the numbers;
• Ext ZigZagColor: Set the color of the zigzag lines;
• ExtLine: Set the color of the numbers;
• ExtLine886: Set the color of the pattern lines.

Cunclusion

The ZUP Indicator is one of the classic and chart pattern indicators for MT5. It displays the movement of each leg on the chart using Fibonacci ratios.

Traders can analyze the formed waves and identify various harmonic patterns such as the Shark Pattern and other patterns based on the ratios.

Based on these analyses and their strategies, traders can enter trading positions when suitable harmonic patterns form.