Harmonic Analytics that instantly displays the PRZ of harmonic pattern analysis simply by clicking four points

On MT4 and TradingView, when you try to identify harmonic patterns, you need to draw multiple Fibonacci levels and horizontal lines, which can require quite a bit of tedious work.

Among experienced FX traders, I believe there are quite a few who have been keen to have tools that make harmonic pattern analysis easier.

This time, we take up Mr. Aik's Harmonic Pattern MT4 Indicator! "Harmonic Analytics" discretionary PRZ analysis tool.

I tried displayingHarmonic Analytics on my MT4, but the visuals in Mr. Aik's video are far easier to understand, so I would like to explain using images from the video.

Now, harmonic pattern analysis is for PRZ (Potential Reversal Zone), i.e., identifying potential reversal zones, but Harmonic Analytics is excellent in that you can instantly discover the PRZ of a harmonic pattern by just clicking four points.

　Harmonic Analytics is set in MT4, and a control panel appears at the bottom left.

The control panel includes points X, A, B, C used for harmonic pattern analysis, a button to display the lines connecting them, a button to trigger alert sounds, a button to perform email notifications, and their value input fields.

When you actually click on the X, A, B, C points that indicate the harmonic pattern appearance, they will be displayed as shown in the image below.

In this way, when displaying each point with the mouse, a convenient feature is that if you specify the upper half of the candlestick, each point automatically fixes to the high; conversely, if you specify the lower half, they fix to the low, making positioning very smooth.

Based on the X, A, B, C you specified this time, the XA retracement is 88.6%, the BC extension is 224%, and the ABC expansion is 161.8%, which are within the orange shaded region in the image below.

This orange line shows that it is the PRZ (Potential Reversal Zone), i.e., the reversal point.

　Harmonic Analytics can perform harmonic pattern analysis simply by clicking four points like this.

Also, as a convenient feature, you can erase each line of the harmonic pattern analysis and display other technical analysis lines to verify the PRZ.

The image below shows daily charts with several horizontals drawn going back about a month. In that case, the PRZ is at about the halfway point to the high, and from another angle you can confirm the harmonic pattern analysis results.　

　Harmonic Analytics’s final feature: by entering the near-PRZ price in the rate input field below and turning on “MAIL,” you can receive an email notification when the price reaches that level. Even when you’re away, you can trade via your smartphone.

In addition to this, there are resources that help those who want to learn harmonic patterns by collecting multiple harmonic patterns, such as the "Basic Pattern PRZ Quick Reference" that helps you know when harmonic patterns appear, and articles introducing the four winning patterns that Mr. Aik calls a surefire bet, all of which are investor-favorite contents.

　For those who want to use harmonic pattern analysis in FX trading, isn’t this an indispensable tool?

We also encourage you to watch Mr. Aik's videos below.

Written by Hayakawa