Anti-Butterfly Harmonic Pattern Indicator MT4 – Free [TFlab]

The Anti-Butterfly Harmonic Pattern Indicator MT4 automatically identifies key pivot points X, A, B, C, and D, plotting the harmonic structure directly on the chart. It highlights bullish patterns in red and bearish patterns in blue, making it easy to analyze market trends across multiple instruments.


You can download it from this link:

https://cdn.tradingfinder.com/file/4...4-by-tflab.zip

For instructions on how to install:

https://www.forexfactory.com/thread/...-in-metatrader







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This indicator is built around four primary waves: XA, AB, BC, and CD, with precise Fibonacci ratios for accuracy:

1. XA wave: The initial price movement.
2. AB wave: Retracement of 38.2% to 61.8% of XA.
3. BC wave: Retracement of 38.2% to 88.6% of AB.
4. CD wave: Extension of XA, typically exceeding 127.2% and possibly reaching 161.8% or more.

The main difference between the Anti-Butterfly and classic Butterfly Pattern lies in the CD wave length and associated Fibonacci ratios, which are clearly visualized on the chart.


Trend Signals:

1. Uptrend (Bearish Anti-Butterfly): Detects potential reversal zones at point D, generating buy signals (example: SOL/USD, 1H chart).
2. Downtrend (Bearish Anti-Butterfly): Identifies patterns at market tops, signaling sell entries (example: GBP/USD, 30-min chart).

Customizable Settings:

Adjust minimum wave length, number of previous candles analyzed, toggle pattern lines and pivots, apply horizontal shifts, enable/disable bullish or bearish patterns, and customize line style, thickness, and colors for clarity.


Conclusion:

The Anti-Butterfly Harmonic Pattern Indicator is an essential tool for traders in Forex, stocks, commodities, cryptocurrencies, and indices. By combining Fibonacci-based geometric patterns with automatic pivot detection, it provides accurate entry and exit points, empowering traders to make informed and confident decisions.