Gartley Pattern Metatrader 4 Forex Indicator
The Gartley Pattern is a very complex trading pattern based on Fibonacci numbers.
It’s called a Harmonic chart pattern.
In forex, the pattern is being used to identify majors turning points in the trend.
When a Gartley pattern pops up in an uptrending market, traders will be looking for short trade opportunities.
Conversely, when a Gartley pattern pops up in a downtrending market, traders will be looking for long trade opportunities.
Now, to identify this Harmonic chart pattern, you need to be an expert because of its complexity but the good news is…
The Gartley Pattern MT4 indicator does all the hard work and identifies Gartley patterns for you on autopilot.
It works on any currency pair and for every timeframe without exception.
The EUR/USD 4-hour chart below displays the Gartley Pattern Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Gartley Pattern MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open buy order when the Gartley Pattern MT4 indicator displays a blue arrow on the chart. Place a protective stop-loss 3 pips below the low of the Gartley trading pattern.
Sell Signal: Open sell order when the Gartley Pattern MT4 indicator displays a red arrow on the chart. Place a protective stop-loss 3 pips above the high of the Gartley trading pattern.
Trade Exit : Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Type: Harmonic pattern
Copy and paste the gartley-patterns.ex4 into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)