Classic Shark Harmonic Pattern Indicator for MT4 [Free] TFlab

The Classic Shark Harmonic Pattern Indicator for MetaTrader 4 identifies potential price reversal zones based on the unique geometry of the Shark harmonic pattern. This structure is defined by points O, X, A, B, and C, with each leg conforming to precise Fibonacci ratios, particularly in the final OX and BC waves.
Unlike other harmonic patterns, the Shark pattern does not end at point D; instead, the key reversal typically occurs at point C, offering advanced traders an opportunity to enter early in a new trend.

You can download it from this link:
https://cdn.tradingfinder.com/file/3...attern-mt5.zip

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

For instructions on how to install:

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




Indicator Specifications

Categories
Support & Resistance – Chart Patterns – Harmonic
Platform
MetaTrader 4
Skill Level
Intermediate
Indicator Type
Reversal
Timeframes
Multi-Timeframe
Trading Style
Day Trading
Markets Supported
Forex – Cryptocurrency – Stock Market – Share Stocks – Forward Market
Bullish Shark Pattern
In a bullish Shark pattern, the price begins with a downward move and forms a series of points: O → X → A → B. The final move B to C completes within the 0.886 to 1.13 Fibonacci range of the initial OX wave.
When the price hits point C, traders watch for signs such as bullish candlestick formations or momentum divergence to confirm a potential upward reversal. This zone becomes a key entry opportunity for long trades.
Bullish Shark formation completing at point C with long entry signal
Bearish Shark Pattern
In a bearish Shark setup, the price initially trends upward through O → X → A → B. Upon reaching point C, the structure completes within the overbought resistance area, aligning with a high-probability Fibonacci reversal zone.
Once reversal confirmation is spotted (e.g., bearish engulfing candles or oscillator divergence), traders anticipate a downward correction or a full reversal beginning at this critical level.
Bearish Shark pattern terminating at resistance with short entry potential
Classic Shark Harmonic Pattern Indicator Settings
The indicator includes a customizable settings panel for adjusting pattern recognition precision and display preferences:

1. Minimum Length of Wave (candle): Minimum number of candles required for each leg
2. Num Of Previous Candle: Number of candles considered for pattern analysis
3. Show Lines: Toggle pattern visibility
4. BreakPivot: Enable/disable pivot breakout validation
5. Original Pivot to Broken Pivot (Pipet): Define tolerance between original and broken pivot points
6. Shift: Shift the entire pattern structure on the chart
7. BullishPattern / BearishPattern: Enable detection for each pattern type
8. Style Of Line / Width Of Line: Customize line appearance
9. Custom Color Lines (Bullish/Bearish): Set color schemes for each pattern type
10. Custom Color Of Text: Define label colors for better readability

Flexible customization for pattern clarity and visibility
Conclusion
The Classic Shark Harmonic Pattern Indicator for MT4 offers a precise, Fibonacci-based method to detect early reversal zones using the Shark harmonic structure. With automated pattern drawing, visual entry points, and customizable display options, this indicator is ideal for traders specializing in harmonic trading, reversal setups, and chart pattern analysis.
Traders can benefit from real-time detection of Shark patterns on multiple assets and timeframes, improving trade timing and confirmation through both structure and price behavior.