Shark Harmonic Pattern Indicator on TradingView - Free [TFlab]

The Shark Harmonic Pattern Indicator is a technical analysis tool designed to identify Potential Reversal Zones (PRZ) in financial markets. It is based on the unique structure of the Shark pattern, which consists of five critical points: X, A, B, C, and D.
This pattern differentiates itself from other harmonic models by utilizing specific Fibonacci ratios, such as 0.886, 1.13, and 1.618, to determine pattern validity. Once these Fibonacci relationships are confirmed, the indicator automatically displays the pattern and generates corresponding trading signals on the chart.

You can access the Indicator from this link:

https://tradingfinder.com/products/i...monic-pattern/

You can access the Indicator on the TradingView website:

https://www.tradingview.com/script/u...tor-Indicator/

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Key Features of the Shark Harmonic Pattern Indicator
The indicator serves as a dynamic tool for identifying reversal points and optimizing trade entries, particularly in volatile market environments.

Indicator Categories

1. Signal & Forecast TradingView Indicators

1. Harmonic TradingView Indicators

1. Classic Chart Pattern Indicators

Platform

1. Fully integrated with TradingView

Skill Level

1. Suitable for intermediate traders

Indicator Type

1. Functions as a reversal indicator

Timeframe Compatibility

1. Designed for multi-timeframe analysis

Applicable Trading Styles

1. Ideal for day trading strategies

Supported Instruments

1. Forex currency pairs

1. Cryptocurrencies

1. Stocks and Equities

1. Futures and Commodities

Bullish Shark Pattern in an Uptrend
In an uptrend scenario, the USD/JPY 15-minute chart illustrates how the price corrects from point B to C, ultimately reaching the Potential Reversal Zone (PRZ):

1. A bullish candle confirms the reversal.

1. The indicator plots a green arrow as a buy signal.

1. Traders may enter long positions near the PRZ with a stop-loss placed below point D.

1. The bullish Shark pattern aligns with Fibonacci ratios, reinforcing the trade setup.

Bearish Shark Pattern in a Downtrend
On a 2-hour chart of WTI Crude Oil, the indicator detects a Shark harmonic formation during a downtrend:

1. The price retraces from point B to C and enters the PRZ.

1. A red arrow appears as a sell signal, signaling a potential trend continuation.

1. The setup is confirmed by weakened buying pressure and a reversal from the PRZ.

1. Traders may initiate short positions near the PRZ to capitalize on the declining momentum.

Indicator Configuration and Settings
The Shark Harmonic Pattern Indicator offers flexible customization options across several categories, enabling traders to tailor the tool to their strategies and charting preferences.

Logical Settings

1. ZigZag Pivot Period: Defines the calculation for structural pivot points.

1. Show Valid Format: Option to display only valid harmonic patterns.

1. Show Formation Last Pivot Confirm: Toggles display of the final pivot confirmation.

1. Period of Formation Last Pivot: Defines the lookback window for last pivot validation.

Display Settings

1. Show Bullish Pattern: Enables visual display of bullish Shark patterns.

1. Show Bearish Pattern: Enables display of bearish formations.

1. Color Bullish Pattern: Allows color customization for bullish structures.

1. Color Bearish Pattern: Sets the visual style for bearish patterns.

1. Width Line: Adjusts line thickness used to draw the pattern.

1. Label Size: Modifies text and label sizes on the chart.

1. Switching Colors Theme Mode: Changes theme between light/dark chart modes.

Alert Settings

1. Alert: Enables notifications upon pattern detection.

1. Alert Name: Customizable label for alert messages.

1. Message Frequency: Controls the rate at which alerts are triggered.

1. Show Alert Time by Time Zone: Displays alert times in the user's time zone.

Conclusion
The Shark Harmonic Pattern Indicator is a powerful analytical tool for identifying structured reversal opportunities in various financial instruments. By applying precise Fibonacci ratios and recognizing the harmonic configuration between X, A, B, C, and D, this indicator:

1. Highlights Potential Reversal Zones (PRZ)

1. Provides automated buy and sell signals

1. Enhances accuracy in trend reversal identification

This tool is ideal for harmonic traders, price action analysts, and day traders seeking high-probability setups based on mathematical precision and structural confirmation.