Alternative Shark 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 Shark Harmonic Pattern Indicator is a tool on MetaTrader 4 for identifying trend reversal points.

This pattern belongs to the harmonic pattern category in technical analysis . The alternative shark pattern is a refined version of the classic shark pattern, with modified Fibonacci ratios and optimized price movement structure, providing higher trend accuracy reversal predictions .

Typically, the price tends to reverse direction after this pattern has been completed on the chart.

Alternating Harmonic Shark Mode Indicator Settings

The specifications of the Alternating Harmonic Shark Mode Indicator are shown in the table below.

A quick overview of alternative shark patterns

The alternative shark pattern consists of five key points (X, A, B, C, D) with the following Fibonacci ratios:

• AB relative to XA : Approximately 0.382 to 0.618
• BC relative to AB : extended range is 1.13 to 1.618
• CD relative to BC : Around 0.886 or 1.13

Bullish Pattern

On the Bitcoin (BTC) chart on a 1-hour basis, the pink bullish backup shark pattern has been completed in the event of a trend reversal. The pattern completes at point “D” marking the Potential Reversal Zone (PRZ) . In this setup, consider point “D” the entry point for a buy trade .

Bearish Pattern

Based on the 30- minute GBP/USD chart, the dark blue Bearish Alternating Shark pattern shows a negative reaction after the pattern completes in a specific area.

The pattern completes with point "D" coinciding with key PRZ being reached, triggering selling pressure and trend reversal .

Indicator Settings Alternate Reversal Shark Harmonic Pattern

The settings for the Alternating Shark Harmonic Mode indicator are as follows:

• Minimum Wave Length (Candles) : The minimum number of candles required to form each wave
• Number of previous candles : Analyze the number of past candles to detect waves
• Show Lines : Display pattern lines
• Break Pivot : Show/hide broken pivot lines on the chart
• Original Pivot to Broken Pivot (Pipette) : Allowed distance between original pivot and damaged pivot
• Shift : Move pattern lines forward or backward on the chart
• Bullish Pattern : Shows a bullish pattern
• Bearish Pattern : Shows a bearish pattern
• Style of Line : Type of connecting line between pattern points
• Width of Line : The thickness of the lines drawn in the pattern
• Custom Color Line (Bearish Harmonic) : Set the line color for bearish patterns
• Custom Color Line (Bullish Harmonic) : Set the line color for bullish patterns
• Custom text color : Set text and label colors

Conclusion

The Alternating Shark Harmonic Pattern indicator analyzes trend reversal financial markets and helps identify potential reversal points .

This indicator works across a wide range of markets, including Forex , cryptocurrencies , stocks , indices , and commodities .

It also offers extensive and flexible settings, allowing users to customize pattern standards, drawing styles , and more to suit their personal trading strategies .