Quasimodo Pattern (QM Pattern) Indicator MT4 - Free Download | Forex Indicators Download - MetaTrader 4 Resources

QM Pattern Indicator is a popular RTM-style pattern recognition trading tool in the MetaTrader 4 (MT4) platform. It helps traders identify QM patterns on charts.

This pattern is an advanced version of the Head and Shoulders pattern, with the Inverse QM pattern drawn in red and the Standard QM pattern in blue.

QM mode indicator table

Indicators at a glance

The QM Pattern indicator is considered one of the reversal patterns that form on price charts, allowing traders to predict trend reversals and identify the best entry points.

This indicator is particularly useful for traders who follow the RTM (Read the Market) method.

QM Pattern Example

On the 4-hour USD/CHF chart during an uptrend, the QM Pattern indicator identifies the QM pattern and plots lines of the pattern in blue on the chart.

After the pattern is formed, the price begins to fall and a character change occurs (CHoCH).

Reversal QM Pattern

On the 15-minute GBP/USD chart following a downtrend, the QM Pattern indicator identified and marked a reversal QM pattern in red.

After the price breaks through the neckline, the price rises sharply and continues to rise.

Indicator Settings

• Show Zig Zag Line: Show Zig Zag Line
• Pivot Period of ZigZag Line: Pivot Period of ZigZag Line
• ZigZag Line Style: Zigzag line style
• ZigZag Line Color: The color of the zigzag line
• ZigZag Line Width: Width of the zigzag line
• Show QM: Show QM mode
• QM Color: The color of the QM pattern
• Reverse QM Color: Reverse the color of the QM pattern

Conclusion

The QM Pattern indicator is one of the RTM style settings that helps traders identify and visualize QM patterns.

This indicator highlights QM patterns in blue and reversal QM patterns in red, allowing traders to easily identify these patterns on the chart.

The tool can also be used on a variety of markets, including cryptocurrencies, forex markets , commodities, and stocks.