Quasimodo Pattern (QM Pattern) Indicator MT5 [Free] TFlab

The Quasimodo Pattern Indicator for MetaTrader 5 is a powerful tool designed to detect and display one of the most significant price action structures used in Read The Market (RTM) methodology: the QM pattern and its inverse, the Reverse QM.
This indicator leverages ZigZag-based structure analysis to automatically highlight these reversal patterns on the chart—blue for the bearish QM and red for the bullish Reverse QM—making it easier for traders to visualize market shifts and plan their entries with precision.

You can download it from this link:
https://cdn.tradingfinder.com/file/3...5-by-tflab.zip

You can also access the MetaTrader 4 version of this indicator through this page:
https://www.forexfactory.com/thread/...mt4-free-tflab

For instructions on how to install:
https://www.forexfactory.com/thread/...-in-metatrader




Indicator Specifications

Category:

1. Price Action MT5 Indicators
2. Chart Pattern MT5 Indicators
3. Currency Strength Tools
4. Educational Indicators

Platform: MetaTrader 5
Skill Level: Intermediate
Indicator Type: Lagging Indicator
Timeframes Supported: Multi-Timeframe
Trading Styles:

1. Intraday
2. Fast Scalping
3. Day Trading

Markets:

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

Example: Bullish Reversal with Reverse QM
Chart: 15-minute GBP/USD
During a downtrend, the QM Pattern Indicator spots a Reverse QM pattern using ZigZag structure recognition. The indicator draws this pattern in red for quick visual identification. Once the neckline is broken, a bullish breakout follows, marking a strong potential entry signal.
This pattern typically occurs:

1. After a lower low fails to continue
2. When the market structure shifts from bearish to bullish
3. Near institutional demand zones

Example: Bearish QM Pattern in USD/CHF
Chart: 15-minute USD/CHF
In this case, the market forms a series of higher highs and lows, signaling an overextended uptrend. The QM Indicator identifies a standard QM pattern, shown in blue. After the neckline is broken, the price sharply declines, confirming a bearish shift in structure.
This kind of pattern often forms:

1. After liquidity grabs
2. At supply zones
3. Just before a large downward move (Change of Character – CHoCH)

QM Pattern Indicator – Settings Overview
To tailor the indicator to your trading strategy, the following customizable inputs are available:

1. Show Zig Zag Line – Enable/disable the display of the ZigZag structure
2. Pivot Period of ZigZag Line – Defines sensitivity in identifying highs/lows
3. ZigZag Line Style – Choose between dashed, dotted, or solid styles
4. ZigZag Line Color – Adjust the color of the structure line
5. ZigZag Line Width – Modify thickness for better visibility
6. Show QM – Enable or disable the QM pattern overlay
7. QM Color – Choose the color for the standard (bearish) QM pattern
8. Reverse QM Color – Choose the color for the bullish Reverse QM pattern

These settings offer flexibility to suit any trading chart theme or visual preference.
Summary
The Quasimodo (QM) Pattern Indicator for MT5 is a must-have tool for traders who apply RTM, Smart Money Concepts (SMC), or advanced price action strategies.
Key Features:

1. Automatically detects QM and Reverse QM patterns
2. Visual highlights in red and blue for fast recognition
3. Works across all markets and multiple timeframes
4. Helps traders anticipate structure shifts and reversal entries

Whether you're scalping forex pairs or analyzing indices and commodities, this indicator enhances your ability to spot institutional footprints, identify key reversal zones, and take high-probability trades based on clean market structure.