Alternating Bats Harmonic Pattern Indicator MT4 - Free Download | Forex Indicators Download - MetaTrader 4 Resource

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

The Alternating Bat Harmonic Pattern Indicator is a trading strategy based on the classic pattern and designed specifically for the MetaTrader 4 platform.

Classic style traders can use this indicator in conjunction with technical analysis to identify PRZ ( Potential Reversal Zone ).
This indicator is based on Fibonacci ratios and draws lines and labels to highlight key pattern points on the chart.

Alternate Bat Harmonic Pattern Indicator Overview Table

The following is a general specification sheet for the Alternating Bat Harmonic Mode Indicator.

Indicators at a glance

The Alternating Bat Harmonic Pattern Indicator is a useful tool for traders who want to identify harmonic patterns on price charts.
By detecting and drawing patterns, this indicator helps traders identify alternative bat patterns and accurately determine the PRZ or potential price reversal zone.

Bullish pattern formation

On the 5 minute chart of the AUDCAD currency pair, an alternating bat harmonic pattern has been formed, detected and displayed by the indicator.
Classic style traders can use this indicator to correctly identify the pattern and enter a buy position on the price chart once the pattern is complete and the trade setup is confirmed.

Bearish pattern formation

Looking at the XAUUSD symbol from the 4-hour chart, the indicator has detected the Bearish Bat Alternating Harmonic pattern and plotted it on the chart.
Traders can enter sell positions based on the PRZ pattern after they are formed and completed.

Alternate Bat Harmonic Mode Indicator Settings

The following are the settings related to the Alternate Bat Harmonic Mode Indicator:

• Minimum wavelength (candles): Select the minimum wavelength (based on the number of candles);
• Number of previous candles: Select the number of previous candles for market analysis;
• Show Lines: enable/disable the display of pattern lines;
• Break Pivot: Enable pivot break analysis;
• Original Pivot to Broken Pivot (Pipette): Select the distance between the original pivot and the broken pivot (in pipette units);
• Shift: Horizontal movement of selected rows;
• Bullish Pattern: Enable bullish pattern display;
• Bearish Pattern: Enable bearish pattern display;
• Style Of Line: Select line style;
• Width Of Line: Select the line thickness;
• Custom Color Line (Bearish Harmonic): Select the line color of the bearish pattern;
• Custom Color Line (Bullish Harmonic): Select the line color for bullish patterns;
• Custom text color: Choose the color of the caption text on the chart.

Conclusion

The Alternating Bat Harmonic Pattern Indicator is a specialized tool for identifying harmonic patterns on price charts.
It helps traders who want to detect alternative bat patterns to accurately identify market structure changes, optimal entry and exit points, and potential reversal zones (PRZ) .
After analyzing the pattern and confirming the trade setup, traders can enter buy or sell positions.