The Basic Harmonic Pattern Indicator is a useful and popular free Forex indicator for MT4 (MetaTrader 4) trading platforms. This indicator is designed to identify harmonic patterns in the Forex market, which can be used to predict potential price reversals. The indicator uses Fibonacci retracement and projection levels to identify potential harmonic patterns including Gartley, Butterfly, Bat, and Crab patterns. The Basic Harmonic Pattern Indicator is easy to use and can be applied to any chart. To use the indicator, simply attach it to a chart and select the harmonic pattern you wish to identify. The indicator will then scan the chart and display any potential harmonic patterns that are present. The indicator also provides additional information such as the potential reversal zone and Fibonacci levels. This makes it easier to identify potential trading opportunities and make more informed trading decisions. With its customization options, users can tailor the indicator to their own trading style and preferences.
Basic Harmonic Pattern
The Basic Harmonic Pattern Indicator is a useful and popular free Forex indicator for MT4. The indicator uses Fibonacci ratios to identify potential reversal points in the market. It can be used to identify potential entry and exit points in the market, as well as to determine the overall trend of the market. The Basic Harmonic Pattern Indicator can be a great tool for any Forex trader, helping to identify potential entry and exit points in the market.
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Category: Price Action
How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.