Harmonic Pattern Finder V3 - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources

Continuing with the popular software pattern for automatically finding harmonics, here is the third and most likely final version of an indicator called "Harmonic Pattern Finder". It addresses many issues discovered from previous iterations, including bug fixes and other improvements. Furthermore, the code was extensively refactored, making it useful for other programmers to integrate their own custom extensions or create EAs based on pattern matching algorithms.

For those who don’t know about Harmony Patterns – it is a method of technical analysis based on Fibonacci ratios in the market and the patterns they form. Similar types of patterns such as triangles and double tops, but with precise measurements which makes computer measurement tools particularly attractive for trading these patterns. Currently, there are two early versions of this indicator in the MQL5 code base (V1: https://www.mql5.com/en/code/16435 , V2: https://www.mql5.com/en/code/16852 ).

Some highlights from this new one include:

So just go ahead and download it as its usage is very intuitive. It is recommended to use a black background, otherwise you need to set the color scheme visible in the indicator settings. For detailed technical information about the indicator continue reading after the image. If you have questions, please feel free to post in the forum or send PM.

Double-clicking on a pattern will make it stand out from the others (purple) and display detailed statistics, timing and PRZ information that can be used to evaluate trades.

Different traders have different rules for determining whether or not a pattern is worth trading. Many theories exist, and we won't go into each one here. The indicator uses an "overall" matching approach to check whether each pattern ratio is within the acceptable range set by a slack setting. However, based on user feedback, it is now possible to filter out potential patterns and predict reversal zones consisting only of slack. A different, independent filtering method can filter out patterns that complete too early or too late based on measurements of the duration of the XB segment versus the BD segment or AB to CD representing the ABCD pattern.

Doesn't this suit your needs? Well, if you know how to code, you can write custom "filter" rules, as explained below.

Based on the history about the current instrument, the indicator remembers how often a pattern failed or successfully reversed PRZ. This information can be collected in a comment box that says something like "F. Bear. New Password Question 60.00 (6 S/4 F)". The first letter simply asserts whether or not the pattern has been recently clicked (F.), failed (O.), succeeded (P.), or tested PRZ (T.). Next is the direction and pattern name, before showing the statistical reversal chance, in this case 60%. This is calculated based on a history of 6 successes and 4 failures for the mode as shown if you double click on it. But regardless, remember that past performance does not necessarily predict future results :)

As mentioned above, the indicator was extensively refactored and took into account MQL5's object-oriented features such as classes and interfaces. The indicator now consists of multiple files and has a schema as shown in the UML diagram below.

Do you want to create an EA? Then you can implement an own "CHPFMatchProcessor", hand it over to the matching algorithm and call it like the current indicator, i.e. feed it a zigzag array and wait for the response. The accompanying algorithm will call the match processor for each match found in the zigzag data, determining if the pattern matches, up or down (projection). This is what must be passed to the EA logic.

Need custom filtering or observation rules? Filtering is done to ignore, for example, RSI that is incorrect or XA's pattern lines that are too straight. Then it should be as simple as writing an implementation of the "CHPFFilter" interface and inserting it into the filter list; the current time and purity filters are interpretive. An example of what an observation rule would be used for is sending a push message or a sound alert whenever a pattern is matched. This can be done in a similar way by implementing the "CHPFObserver" interface.

This indicator is the result of a collaborative effort between Andre Engel and David Gadelha

Attachment download

📎 hpfcommentobserver.mqh (14.65 KB)

📎 hpffilter.mqh (3.07 KB)

📎 hpffilterlist.mqh (7.42 KB)

📎 hpfglobals.mqh (32.01 KB)

📎 hpfindicator.mqh (32.31 KB)

📎 hpfmatcher.mqh (58.8 KB)

📎 hpfmatchprocessor.mqh (4.15 KB)

📎 hpfobserver.mqh (3.01 KB)

📎 hpfobserverlist.mqh (9.47 KB)

📎 hpfpurityfilter.mqh (15.18 KB)

📎 hpfringbuffer.mqh (9.83 KB)

📎 hpfstatisticsobserver.mqh (9.75 KB)

📎 hpftimefilter.mqh (15.55 KB)

📎 hpfdrawingobserver.mqh (76.18 KB)

📎 harmonicpatternfinderv3.mq5 (115.44 KB)

Source: MQL5 #22218

Harmonic Pattern Finder V3 - Important points before using the MetaTrader 5 script

This page has been supplemented with structured instructions, focusing on the purpose of trading scripts, MT4/MT5 platform compatibility, testing procedures and risk control. Before downloading or deploying, it is recommended to first determine whether it is consistent with your own variety, cycle and account environment.

Suitable for who to use

• Users who want to quickly screen trading scripts and are willing to do simulation verification first.
• People who need to compare MT4/MT5 EAs, indicators, scripts or source code projects.
• Traders who wish to record backtests, parameters and risk boundaries before placing a trade.

Testing and risk control suggestions

• First verify the default parameters in the strategy tester or demo account, and then adjust the symbol, period, spread and trading period one by one.
• Scalping, grid, martin, and high-frequency strategies should focus on observing maximum drawdowns, consecutive losses, slippage, and trading frequency.
• It is not recommended to run any document directly on the real disk. At least observe the simulated disk performance for 2-4 weeks first.

FAQ

Can MT4 and MT5 be used interchangeably?
Usually cannot be used directly. EX4/MQ4 corresponds to MT4, EX5/MQ5 corresponds to MT5, and the source code needs to be compiled in the corresponding MetaEditor.

Is this resource guaranteed to be profitable?
cannot. EAs, indicators and scripts can only be used as trading tools, and the results depend on parameters, market environment, spreads, slippage and risk control.

What else can I continue to watch?
Forex EA download , foreign exchange indicator download , EA evaluation , MQL5 CodeBase .

English Search Notes

This page is also optimized for English search intent around Harmonic Pattern Finder V3 - MetaTrader 5 Script . Related search terms include: trading script, MT4 script, MT5 script. Test any Forex EA, Expert Advisor, MT4/MT5 indicator, script or MQL source code with historical data and a demo account before live trading.