Zup Harmonic Pattern Indicator

Zup Harmonic Pattern Indicator

Zup Harmonic Pattern indicator is an excellent indicator for identifying harmonic patterns. A suitable price reversal detector is free to download.

There are numerous pattern formations in the market. But Harmonic Patterns are popular for providing highly accurate and profitable patterns. Essentially, the harmonic patterns use Fibonacci ratios of geometric formation to identify areas of interest – simply reversal and continuation points that offer good buy and sell signals. This means that you can use the indicator to predict the price action.

However, identifying this pattern with naked eyes is a tall order. In addition, drawing patterns is an arduous job. You have to be accurate when drawing the Fibonacci level. The pattern might seem similar, but different Fibonacci levels form them. This is where the Zup Harmonic indicator comes in. It scans the chart and identifies the patterns. It then portrays the name on the right-hand side.

Unlike other indicators, the ZUP Harmonic Pattern indicator predicts the stop loss and takes profit points. You can use the indicator to trade both the long-term and short-term positions.

How to Identify Trade
The indicator uses vital Fibonacci numbers to identify the pattern. Essentially, it identifies and draws various patterns on the chart including;

Bat Patterns
Butterfly Patterns
Crab Patterns
ABCD Patterns
Gartley Patterns
ZUP Harmonic Pattern Trading Example

The chart shows the price action of the EURO against the US dollar in a 4-hour time frame. The indicator identifies a shark pattern and highlights it with a blue color. The indicator gives great trading signals after the patterns form fully as shown in the picture.

You might want to wait for the pattern to form and enter at the opportune time. Once the pattern is ripe and fully formed, jump into the trade. Notice how the market moved more than 300 pips after the pattern.

However, you can still trade when the pattern is still in formation. Since harmonic patterns use exact Fibonacci values, you can trade at various areas to catch small rallies and dips.

Conclusion
Harmonic patterns are one of the most profitable patterns in forex trading. However, drawing the pattern is quite an exciting task, especially considering that they don’t occur so often. This means the Fibonacci must accurately draw the pattern, ensuring the Fibonacci ratios are accurate. Thanks, the indicator identifies the patterns. You only need to wait for the pattern to form completely and enter the trend reversal direction