Quasimodo Pattern (QM Pattern) Indicator MT4 [Free] TFlab

The QM Pattern Indicator (MT4) is a pattern recognition tool based on the Read the Market (RTM) trading methodology, designed specifically for MetaTrader 4 users. It automatically identifies the Quasimodo (QM) pattern, a more advanced and structurally refined version of the classic Head and Shoulders formation.
This indicator simplifies market structure analysis by detecting both standard and reversal QM patterns, visually distinguishing them on your chart—blue for bullish setups and red for bearish reversals.

You can download it from this link:
https://cdn.tradingfinder.com/file/3...4-by-tflab.zip

You can also access the MetaTrader 5 version of this indicator through this page:
https://www.forexfactory.com/thread/...mt5-free-tflab

For instructions on how to install:

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




Indicator Specifications

Category:

1. Price Action Tools
2. Classic Pattern Recognition
3. Currency Strength Tools
4. Educational Indicators

Platform: MetaTrader 4
Skill Level: Intermediate
Indicator Type: Lagging Indicator
Timeframes Supported:

1. M15–M30
2. H1–H4

Trading Styles:

1. Intraday
2. Scalping
3. Day Trading

Markets:

1. Forex
2. Stocks
3. Commodities
4. Indices

Example: Standard QM Pattern in an Uptrend
Chart: 4-hour USD/CHF
In this example, during an extended uptrend, the indicator detects a standard QM formation and highlights it in blue. Once the pattern completes, the price begins to fall and triggers a Change of Character (CHoCH), signaling a potential bearish trend reversal.
This kind of structure typically features:

1. A higher high followed by a lower low
2. A neckline that acts as a breakout or entry level
3. A zone of interest where smart money may be active

Example: Reversal QM Pattern in a Downtrend
Chart: 15-minute GBP/USD
Following a downtrend, the indicator spots a reversal QM pattern and displays it in red. After breaking above the neckline, the price rallies sharply—confirming a bullish reversal.
This reversal setup often occurs near:

1. Demand zones
2. Stop hunts
3. Institutional price levels

It is ideal for aggressive entries with tight stop-loss placement.
Indicator Settings – Customization Options
Chart Example: 5-minute AUD/USD
The QM Pattern Indicator allows for flexible customization. Below are the main input variables:

1. Show Zig Zag Line – Toggle zigzag visualization on/off
2. Pivot Period of ZigZag Line – Adjust the sensitivity of structure identification
3. ZigZag Line Style – Choose between solid/dotted styles
4. ZigZag Line Color – Set preferred line color
5. ZigZag Line Width – Adjust line thickness
6. Show QM – Enable or disable the QM pattern display
7. QM Color – Set color for the standard QM pattern (default: blue)
8. Reverse QM Color – Set color for the reversal QM pattern (default: red)

These options give you complete control over how patterns are visualized to match your trading workflow.
Final Thoughts
The QM Pattern Indicator for MT4 is a powerful technical tool rooted in the RTM trading style. Whether you're a forex trader, crypto scalper, or stock market analyst, this indicator helps identify major structural turning points with precision.
Key Benefits:

1. Automatically highlights both standard and reversal QM patterns
2. Supports multiple asset classes and timeframes
3. Enhances pattern-based trading with visual clarity
4. Ideal for traders practicing price action, SMC, or RTM techniques

Use this tool to spot high-probability setups, anticipate character shifts, and fine-tune your entry/exit strategies.