Everyone wants to become a successful trader. For the trading purpose, they use different applications, software, tools, and indicator. To get a healthy profit they use different indicator that can help them in trading in a unique manner. Trading is the most common occupation in the world. That’s why many traders use indicator. Today I will share some information about the Harmonic Pattern indicator.
Today you will know that what is harmonic Pattern indicator and how it can be used in trading and for which purpose it can be used.
Harmonic Pattern indicator
The harmonic Pattern indicator is an indicator which tells you about point to point market power in every time frame chart. It provides you more accurate results for every entry in both long term business and short term business. It is a very helpful indicator to be used in a trading system.
The harmonic Pattern indicator is a detailed pattern indicator which can be used by both long term and short term traders. This indicator is used for the MT4 trading platform only. This indicator has multi timeframes that start from one minute to one month. This indicator has some characteristics e.g. it is a perfect combination of Forex indicator. It also shows currency on the screen.
It recommends pure broker Alpari.
Harmonic Pattern indicator has six basic patterns that are given below: –
- Gartley pattern: – This indicator is the most frequent indicator used in harmonic Pattern indicator. This pattern identifies the breakouts and supports. This pattern has uptrend, small reversals, small uptrends, and larger reversals.
- Butterfly pattern: -There are two types of butterfly patterns: Bearish butterflies and bullish butterflies. This pattern is used to know when the reversals are strong and when the reversals are low.
- Crab pattern: – Crab pattern is designed for identifying accurate price movements. This pattern is similar to the butterfly pattern but this pattern is more condensed.
- Bat pattern: – Bat pattern is a symmetrical pattern. It is for both bearish and bullish patterns.
- Shark pattern: – It is one of the newer harmonic Pattern trading patterns. This pattern is in use since 2011. This pattern uses five-leg reversal sequences.
- Cypher pattern: – This pattern is the most advanced trading pattern that is similar to different other indicator’s patterns. It creates a steeper appearance.
USES of harmonic Pattern indicator: –
Harmonic Pattern indicator has too many uses because this indicator has different patterns for different analyses. This indicator helps the traders in identifying market power. It is used for both short term traders and long term traders.
Harmonic Pattern indicator is used for only the Meta Trader 4 trading platform. It can use different time frames. It is a valuable tool. It is used for precise price movements. It has advanced patterns for trading systems. It is used to elevate the geometric price formation. This indicator is used to determine perfect marketing entries the indicator is used to predict future price movements.
The traders can use them confidently as they expect changes in the price. It can use any currency pairs. You can become an expert in Forex trading by using these indicator.
Uses of Harmonic Pattern indicator:
Currency pairs: All
EURUSD, GBPUSD, USDCHF, USDJPY, AUDUSD, NZDUSD, USDCAD,EURJPY, EURCHF, EURGBP, EURAUD, EURNZD, EURCAD,GBPJPY, GBPCHF, GBPAUD, GBPNZD, GBPCAD AUDCAD, AUDNZD, AUDJPY, CHFJPY, NZDJPY, CADJPY, CADCHF, NZDCHF
Trading Time: 24 Hours
Timeframe: Harmonic Pattern indicator
Recommended broker: All trusted brokers
Remember, Before use Harmonic Pattern indicator you can test on Demo account. When you will expert then you will use in Real account of trading.
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