Dragon Harmonic Pattern Indicator MT5 Download – Free

On July 1, 2025, in version 2, the indicator added alerts/notifications and signals functionality

The Dragon Harmonic Pattern Indicator is designed to automatically detect and plot Dragon reversal patterns , which are recognized technical analysis as a harmonic pattern . This pattern visually resembles the letter "W" or "M" and it highlights the Potential Reversal Zone (PRZ) on the chart.

This MT5 Classic and Chart Pattern Indicator builds patterns based on specific situations Fibonacci ratios and the XABCD structure.

Dragon Harmonic Mode Indicator Spec Sheet

The specifications of the Dragon Harmonic Mode Indicator are as follows:

Overview: Dragon Harmonic Mode Indicator

The Dragon Harmonic Mode can form in both bullish and bearish modes, each with unique visual characteristics:

• Bullish Dragon Pattern: This pattern occurs in a "W" shape, shown in blue , and indicates the potential start of a new uptrend in the market
• Bearish Dragon Pattern: This pattern takes the form of: "M" and appears in pink ; it usually serves as a warning of an upcoming downtrend

Taurus form

In the 1 hour time chart of Silver/USD (XAG/USD) , following corrective points "A" and "B" , the pattern completes at point "D" . Immediately afterwards, an upward price movement begins.

Bearish Dragon Pattern

Based on the Polkadot 1 hour time chart (DOT/USD) , the price trend reversed downwards "D" after reaching this point, consistent with the pattern structure.

This market response confirms the dragon pattern in the scene of reversal nature .

Dragon Harmonic Mode Indicator Settings

The customizable settings for the Dragon Harmonic Pattern Indicator are described below:

• Minimum Wave Length (Candles): The minimum number of candles required to form each wave
• Number of previous pivots: the number of previous candles used to determine the pivot point
• Show Lines: Enable or disable the display of pattern lines
• Break Pivot: Toggle visibility of broken pivot lines on the chart
• Original Pivot to Broken Pivot (Pipette): Allowed distance between original pivot and damaged pivot
• Shift: Move pattern structures forward or backward on the chart
• Bullish Pattern: Shows Bullish Dragon Pattern
• Bearish Pattern: Shows the Bearish Dragon pattern
• Custom Color Lines (Bullish Harmonics): Select the color of the bearish pattern lines
• Custom Color Lines (Bearish Harmonic): Select the color of the bullish pattern lines
• Custom text color: Customize label and text color

Conclusion

The Dragon Harmonic Mode Indicator can identify and display both bullish and bearish Dragon Arrays. This Harmonic Pattern Indicator for MT5 enhances analysis of potential trend reversal structures with a visual overview.

Additionally, this tool enables traders to determine the best entry points across various markets, including Forex , cryptocurrency , and stocks .