Crab Harmonic Pattern Indicator on TradingView - Free - [TFlab]

The Crab Harmonic Pattern Indicator is part of the TradingView Harmonic Pattern family, designed to use Fibonacci Ratios for identifying Potential Reversal Zones (PRZ) on price charts.
This harmonic structure can form in two variations:

1. Bullish Crab Pattern – typically resembling the letter M
2. Bearish Crab Pattern – typically resembling the letter W

Upon completion of the pattern, the indicator generates:

1. Sell signals marked with a red arrow
2. Buy signals marked with a green arrow

You can access the Indicator from this link:
https://tradingfinder.com/products/i...monic-pattern/

You can access the Indicator on the TradingView website:
https://www.tradingview.com/script/Q...hart-patterns/

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Specifications of the Crab Harmonic Pattern Indicator

1. Indicator Categories:
   1. Signal & Forecast TradingView Indicators
   2. Harmonic TradingView Indicators
   3. Chart & Classic TradingView Indicators

2. Platforms: TradingView Indicators
3. Trading Skill Level: Intermediate
4. Indicator Type: Reversal TradingView Indicators
5. Timeframe: Multi-Timeframe TradingView Indicators
6. Trading Style: Intraday TradingView Indicators
7. Applicable Markets:
   1. Forex Market
   2. Cryptocurrency Market
   3. Stock Market
   4. Forward Contracts
   5. Share Stocks

Structure of the Crab Harmonic Pattern
The Crab Harmonic Pattern is composed of five essential points: X, A, B, C, and D. These points are determined using precise Fibonacci retracement and extension levels.

1. Point B: Retracement of XA between 38.2% and 61.8%
2. Point C: Retracement of AB between 38.2% and 88.6%
3. Point D (PRZ): Generally located at 161.8% of XA or higher
   1. In a Bullish Crab, Point D acts as a Buy Zone
   2. In a Bearish Crab, Point D acts as a Sell Zone

Crab Harmonic Indicator in an Uptrend
In an upward trend, the pattern begins with a bullish impulse wave, followed by a retracement before resuming the bullish movement.
Key details:

1. Fibonacci ratios determine entry and exit levels.
2. When the pattern completes and the indicator confirms the setup, a Buy signal (green arrow) is displayed.
3. Example: GBP/USD currency pair in an uptrend scenario.

Crab Harmonic Indicator in a Downtrend
In a downward trend, the Bearish Crab Pattern resembles the letter W. The pattern usually begins with a corrective wave in a bearish market.
Key details:

1. Price makes multiple oscillations before reaching a peak.
2. At the PRZ, price reverses sharply, generating a Sell signal (red arrow).
3. Example: AUD/USD currency pair in a downtrend scenario.

Indicator Settings
Logical Settings

1. ZigZag Pivot Period: Default value – 3
2. Show Valid Format: Enables display of only valid patterns
3. Show Formation Last Pivot Confirm: Confirms last pivot formation
4. Period of Formation Pivot: Default value – 2

Display Settings

1. Show Bullish Pattern: Enable Bullish pattern visualization
2. Show Bearish Pattern: Enable Bearish pattern visualization
3. Bullish Pattern Color: Default – Blue
4. Bearish Pattern Color: Default – Blue
5. Line Width: Default thickness – 1
6. Label Size: Adjustable
7. Switching Colors Theme Mode: Chart theme selection

Alert Settings

1. Alert: Generates notifications upon pattern completion
2. Alert Name: Customizable
3. Message Frequency: Adjustable alert repetition
4. Show Alert Time by Time Zone: Localized alert timing

Conclusion
The Crab Harmonic Pattern Indicator is an advanced tool for traders utilizing Chart & Classic trading techniques. By automatically detecting harmonic price structures and calculating Potential Reversal Zones, it enables precise trade entries in multiple markets including Forex, stocks, and cryptocurrencies.