Quasimodo Pattern (QM Pattern) Indicator MT5 - Free Download | Forex Indicators Download - MetaTrader 5 Resources

The Quasimodo Pattern (QM Pattern) indicator is one of the classic chart pattern indicators in MetaTrader 5, designed to identify and display QM and reverse QM patterns.

These patterns play a vital role in market analysis, especially in the RTM style, and are very beneficial to traders who look for these structures on their charts.

In this trading tool , QM patterns are plotted in blue, while inverse QM patterns are shown in red, allowing traders to easily identify these patterns and integrate them into their trading decisions.

QM mode indicator table

The following table provides general specifications for QM mode indicators.

QM Mode Metrics Overview

The Quasimodo Pattern (QM Pattern) indicator is a chart pattern recognition tool that is particularly useful for RTM style traders to identify and confirm QM patterns.

The QM pattern is a reversal pattern that, once formed, allows traders to take advantage of trend reversals by placing buy or sell trades after the neckline is broken.

Inverse QM Pattern - Bullish Trend

On the GBP/USD 15-minute chart, the QM Pattern indicator uses the ZigZag tool to detect inverse QM patterns and highlight them in red.

This visualization enables traders to spot patterns quickly. Once the neckline of the inverse QM pattern is breached, the price will rise sharply.

QM Pattern - Bearish Trend

On the 15-minute chart of USD/CHF, price formed a QM pattern by making consecutive highs and lows. The QM Pattern indicator identifies this pattern and marks it blue on the price chart.

Traders can use this setup to place a sell trade when they observe a pattern forming. Once the neckline of the QM pattern is breached, the price will fall sharply.

QM mode indicator settings

Here are the key settings for the Quasimodo Mode indicator:

• Show Zig Zag Line : Enable/disable Zig Zag line display
• Pivot Period of ZigZag Line : Adjust the Pivot Period of ZigZag Line
• ZigZag Line Style : Customize the style of the zigzag line
• ZigZag Line Color : Set the color of the ZigZag line
• ZigZag Line Width : Define the width of the ZigZag line
• Show QM : Enable/disable QM mode display
• QM Color : Customize QM pattern color
• Reverse QM Color : Customize reverse QM pattern color

Conclusion

The Quasimodo Pattern (QM Pattern) indicator is one of the basic price action indicators for MetaTrader 5 and is designed to help traders identify QM patterns on charts.

By using this indicator in the MetaTrader platform, traders can easily identify QM patterns and integrate them into their trading strategies. This tool is particularly useful for traders looking for trading opportunities based on this pattern.

This indicator is also available for all markets such as forex , cryptocurrencies, stocks and commodities.