Bearish Harmonic Patterns Indicator for Prorealtime
Trade 12 Bearish Harmonic Patterns with a Single Indicator
Bearish Harmonic Patterns Indicator for Prorealtime
Trade 12 Bearish Harmonic Patterns with a Single Indicator
How will the Bearish Harmonics indicator help you?
Trading harmonic patterns is a strategy reserved for experienced traders. Identifying them is challenging and requires a thorough understanding of Fibonacci ratios.
The Bearish Harmonics indicator will help you trade harmonic patterns with ease. It recognizes the twelve most favourable Bearish harmonic patterns. It displays the figures with sell signals and price targets on your charts.
✅ The screener will help you discover trade opportunities in real-time.
Try the indicator for Free
Start a FREE TRIAL with the Bearish Harmonics indicator today. You will access the indicator’s complete functionalities for two weeks.
Install the indicator on Prorealtime
The Bearish Harmonics indicator is available on the Prorealcode marketplace. After obtaining a license, you will be able to access the indicator and scanner on your Prorealtime platform.
Key Features
Pattern Recognition
The indicator recognizes the twelve most reliable bearish harmonic patterns. You will spot harmonic patterns at a glance.
Sell Signal Detection
The indicator detects and displays sell signals. You will trade numerous opportunities.
Fibonacci Level Display
The indicator displays Fibonacci levels on the chart. You will anticipate key price levels.
Signal Confirmation
The indicator contains efficient signal confirmation filters. You will focus on the best opportunities.
Target Display
The indicator displays price targets on the chart. You will optimize your exit conditions.
Stop-loss Display
The indicator displays stop losses on the chart. You will protect your capital.
Market Scanner
A harmonic pattern screener is included with the indicator. You will find opportunities in real time.
Automated Trading
The indicator can be integrated into a backtest. You will test configurations and automate your trades.
Full Customization
The indicator is fully configurable. You will be able to adapt it to your needs.
Available Brokers
The Bearish Harminics indicator is compatible with all versions of Prorealtime. You can install the indicator on any broker that provides this platform. The brokers with which you can use the indicator are Interactive Brokers, IG, Saxo Bank, and Boursorama:
Why trade harmonic patterns?
A harmonic pattern is a chart pattern based on Fibonacci ratios. They rely on precise combinations of waves that form symmetrical structures. When correctly identified, they allow for accurate identification of reversal zones.
The following image shows a harmonic pattern followed by a powerful bear trend:
Why use the Bullish Harmonics indicator?
The Bearish Harmonics indicator contains everything you need to trade bearish harmonic patterns effectively. It displays patterns on your charts with several entry points. In addition, the indicator calculates precise price targets based on Fibonacci ratios.
The indicator is fully customizable. You can choose the pattern(s) of your choice, select signal types, and apply confirmation filters.
1. Harmonic Pattern Recognition
Identifying harmonic patterns on a chart can be a very time-consuming task. It would require knowing all the Fibonacci ratios inside and out. The indicator recognizes the twelve most favourable bearish harmonic patterns. You will immediately spot patterns on your charts.
You can select the patterns of your choice in the indicator settings:
- Bearish Butterfly
- Bearish Bat
- Bearish Crab
- Bearish Cypher
- Bearish 5-0 Pattern
- Bearish AB=CD
- Bearish Gartley
- Bearish Alt Bat
- Bearish Deep Crab
- Bearish Shark
- Bearish Three Drives
- Bearish Alt AB=CD
Here are examples of the twelve harmonic patterns detected by the Bearish Harmonics indicator:
You will spot Harmonic Patterns at a glance on your charts
2. Short Selling Signal Detections
The indicator detects sell signals specific to each pattern. It incorporates several types of signals to help you adapt to each situation. You will take down trend reversal, resumption, and continuation signals.
Here are the types of sell signals detected by the Bearish Harmonics indicator:
Bearish Reversal Signals
- Price in Sell Zone
- Breakout of Sell Zone
- Test of Sell Zone
- Breakout of Bottom Trendline
- Test of Bottom Trendline
Down Trend Resumption Signals
- Breakout of Top Trendline
- Test of Top Trendline
Down Trend Continuation Signals
- Breakout of Support
- Test of Support
Here are examples of the sell signals detected by the Bearish Harmonics indicator:
You will operate several types of markets
3. Sell Short Signal Confirmation
Harmonic patterns inherently provide excellent signals, but you can further improve performance by confirming them. This involves ensuring that the market is moving in the direction of the signal by checking various indicators.
The Bearish Harmonics indicator contains several options for confirming sell signals. You can enable signal validation and apply volume, strength, and trend filters.
You will boost your trading performance
4. Defining Precise Price Targets
Correctly defining the price target is crucial to the outcome of a trade. It is sometimes difficult to know how far the price can go before consolidating.
The unique feature of harmonic patterns is that they allow you to define precise price targets with a high degree of precision. The indicator uses the construction points of the patterns to calculate Fibonacci ratios. These ratios will be used to define precise price targets.
You will optimize your profit per trade
5. Displaying Fibonacci Levels
You can display Fibonacci levels for a pattern independently of the price target. This will help you visualize rebound and consolidation zones.
You will efficiently manage your trades
6. Stop Loss Display
Harmonic patterns provide excellent signals, but no strategy can be 100% successful. Therefore, you should always add a safety stop to an open position to protect your capital.
By default, the indicator places the stop loss above the last high point of the pattern. You will adjust its position in the indicator settings.
You will secure your capital
7. Customizing the Indicator
The indicator is fully customizable. You can choose the pattern(s) of your choice, set their size, select signal types, apply filters, and modify the display.
You will adapt the indicator to your trading style
8. Trading Alerts
The Bearish Harmonics indicator allows for trading alert activations. The Prorealtime platform will notify you when the price breaks a key level.
You will create an alert on all assets in all timeframes.
You will never miss a trade opportunity again
9. Backtest and Automated Trading
You can call the indicator in a ProBuilder backtest. You will test different configurations to find the most profitable one.
You will backtest your strategies and create trader bots
Bullish Harmonic Pattern Screener
The screener provided with the indicator will enable you to identify opportunities in real-time. You will scan hundreds of thousands of stocks in a few minutes. The screener works across all asset classes and time frames.
You will find trade opportunities in real-time
Online Documentation
I provide complete documentation describing the usage and settings of the indicator. I also provide an example of code you can use to backtest your strategies and create an automated trading system. You can consult this documentation at any time on these pages:
Try the indicator for Free
Start a FREE TRIAL with the Bearish Harmonics indicator today. You will access the indicator’s complete functionalities for two weeks.
Install the indicator on Prorealtime
The Bearish Harmonics indicator is available on the Prorealcode marketplace. After obtaining a license, you will be able to access the indicator and scanner on your Prorealtime platform.