MQL Harmonic Indicator
MQL Harmonic Indicator
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Summary
The MQL Harmonic indicator scans the chart for current Harmonic patterns based on Fibonacci ratios. The indicator is easy to use since it doesn't have a large complicated list of adjustable settings.
Unlike other Harmonic indicators, it scans using combinations of ZigZag settings instead of just a single set of settings.
It will keep considering combinations of settings and scanning for harmonic patterns until it finds one.
It scans for the Gartley, Bat, Alt Bat, Butterfly, Crab, Deep Crab, Cypher, Shark, Five Zero, ABCD, ABCD Ext, and Three Drives patterns.
The indicator works on any standard MT4 chart and it works on any broker's MT4 platform.
Benefits
- The indicator considers many combinations of settings until it finds a pattern.
- It doesn't have a large list of complicated settings.
- It is easy to use and understand.
- Based on Fibonacci ratios which are proven to work and very effective.
Inputs
- Min. Depth
This is related to the 'Depth' input in the ZigZag indicator. This sets the minimum # for 'Depth' that the scanning will process.
- Max. Depth
This is related to the 'Depth' input in the ZigZag indicator. This sets the maximum # for 'Depth' that the scanning will process.
- Min. Deviation
This is related to the 'Deviation' input in the ZigZag indicator. This sets the minimum # for 'Deviation' that the scanning will process.
- Max. Deviation
This is related to the 'Deviation' input in the ZigZag indicator. This sets the maximum # for 'Deviation' that the scanning will process.
- Min. Backstep
This is related to the 'Backstep' input in the ZigZag indicator. This sets the minimum # for 'Backstep' that the scanning will process.
- Max. Backstep
This is related to the 'Backstep' input in the ZigZag indicator. This sets the maximum # for 'Backstep' that the scanning will process.
- Deviation %
This controls the allowed deviation from the defined pattern that a recognized pattern can be. The higher the number, the more deviation is allowed and the indicator will be less strict when recognizing patterns.
Therefore, it would be more likely that a pattern will be found, but the pattern will be less accurate compared to the actual pattern definition.
- Draw Old Patterns?
If true, the indicator will draw old patterns on the chart using the chosen ZigZag settings that were used for the most current pattern.
- History Candles
This controls how many candles back to draw the old patterns.
Notes
- The remaining inputs not mentioned above are self-explanatory inputs and do not need separate explanations. For example, there are simple inputs for enabling/disabling certain patterns and setting their colors.
- DLL imports must be enabled for this indicator to work.
- Updates will be made based on customer feedback. Feel free to comment or send recommendations.
- This indicator will work on any standard MT4 broker and chart.
- Source Code Available: If you would like the source code of this to make your own modifications or for other reasons, please contact us for the fee.
Forum
- The official forum to post your comments, questions, concerns, or bug reports about the MQL Harmonic Indicator can be found at Forex Zone Forum.
Example
Download
- The current version is v1.53. Updates will be made based on customer feedback.
- The MQL Harmonic Indicator is FREE with no restrictions! Just use the link below to download instantly.
- Post your questions or feedback on the official MQL Harmonic Indicator forum page.
- Please share this indicator or buy some merch from our store to support our work!
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