The Korharmonics Indicator for MT4 is a multi-functional price-action trading tool designed for forex and stock traders. It automatically identifies harmonic and chart patterns such as Wedge, Flag, Bat, and Harmonic patterns, offering potential buy and sell setups. By combining pattern recognition with Fibonacci retracement levels, the indicator provides traders with actionable insights for entering and exiting trades.
The indicator uses a high-low method to identify harmonic patterns:
Point A: Starting point of the harmonic structure.
Point B: First swing of the price, indicating the direction of the potential move. A close above point A signals a bullish pattern.
Point C: Pullback or retracement after the initial move.
Point D: Trade-entry point, typically confirmed when price breaks above/below the immediate Fibonacci level.
For bullish harmonic patterns, AB and CD movements create multiple higher highs, allowing traders to anticipate strong buy opportunities once the price moves past point D.
The indicator also identifies wedge patterns:
Falling Wedge: Buy when price breaks above the higher trendline.
Rising Wedge: Sell when price breaks below the lower trendline.
This approach helps traders capitalize on potential reversals after price consolidation within wedge patterns.
Timeframes: Works on any timeframe, but longer timeframes offer more reliable chart pattern setups.
Fibonacci Levels: Use the built-in retracement tool to identify potential pullbacks and entry levels.
Confirmation: Wait for price reaction after pattern completion before entering trades. This ensures higher probability trade setups.
Trend Observation: Monitor price swings and candlestick patterns to confirm bullish or bearish signals.
Automatically detects harmonic and chart patterns for easy analysis
Highlights potential buy and sell setups based on price-action structure
Includes Fibonacci retracement for entry and exit planning
Suitable for both beginner and experienced traders
Free to download and easy to install on MT4
Enhance your MT4 trading with the Korharmonics Indicator. Download it for free from IndicatorForest.com and start identifying high-probability harmonic and price-action trade setups today.
Published:
Nov 21, 2025 00:40 AM
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