Classic Bat Harmonic Pattern Indicator MT4
- Indicadores
- Eda Kaya
- Versión: 2.1
Classic Bat Harmonic Pattern Indicator for MT4
The Classic Bat Harmonic Pattern Indicator is one of the most well-known harmonic patterns in technical analysis. Formed based on precise Fibonacci ratios, this pattern signals a strong price correction.
This MT4 candlestick-based indicator displays bullish Bat patterns in pink and bearish Bat patterns in blue. It helps traders identify optimal entry and exit points.
«Indicator Installation & User Guide»
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Classic Bat Harmonic Pattern Indicator Specifications Table
The table below describes the specifications and features of the Classic Bat Harmonic Pattern Indicator:
Category | Harmonic Pattern – Candlestick – Classic & Chart Patterns |
Platform | MetaTrader 4 |
Skill Level | Intermediate |
Indicator Type | Reversal |
Timeframe | Multi timeframe |
Trading Style | Intraday Trading |
Market | All Markets |
Classic Bat Harmonic Pattern at a Glance
The Classic Bat Pattern consists of four main waves: X-A, A-B, B-C, and C-D. Each leg is formed using specific Fibonacci retracements or extensions. The key decision point is at “D,” which typically serves as the entry level for a trade.
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Wave AB: Retraces 38.2% to 50% of XA
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Wave BC: Retraces 38.2% to 88.6% of AB
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Wave CD: Extends to 88.6% of XA
Bullish Pattern
On the 30-minute EUR/USD chart, a bullish Bat pattern forms, presenting a potential buy setup. The final leg, C-D, retraces to the 88.6% Fibonacci level of the initial XA wave, marking point “D” as the ideal entry level for long trades.
Bearish Pattern
In the 1-hour Bitcoin (BTC) chart, the indicator detects a bearish Bat pattern, signaling the end of an upward correction and the beginning of a new downward trend. In such cases, point “D” is used as a reference for entering short positions.
Classic Bat Harmonic Pattern Indicator Settings
The indicator provides several customizable settings to fine-tune pattern detection and display:
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Minimum Length of Wave (candle): Minimum number of candles needed to form each wave
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Num of Previous Candle: Number of past candles to analyze for pattern detection
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Show Lines: Enable or disable pattern lines on the chart
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Break Pivot: Toggle the display of broken pivot levels
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Original Pivot to Broken Pivot (Pipet): Set the maximum distance between original and broken pivots
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Shift: Move pattern lines forward or backward on the chart
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Bullish Pattern: Enable the display of bullish Bat patterns
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Bearish Pattern: Enable the display of bearish Bat patterns
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Style of Line: Define the line style connecting pattern points
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Width of Line: Set the thickness of pattern lines
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Custom Color Lines (Bearish Harmonic): Select custom color for bearish lines
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Custom Color Lines (Bullish Harmonic): Select custom color for bullish lines
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Custom Color of Text: Choose color for text and labels
Conclusion
The Classic Bat Harmonic Pattern Indicator is a powerful tool for identifying harmonic Bat patterns and visualizing them on MT4 charts.
By adjusting parameters such as wave length, historical candle count, and visual styles, users can enhance pattern accuracy and clarity. Bullish and bearish modes can be activated independently, with full control over color and display customization.