Quasimodo Pattern indicator in TradingView - Free - [TFlab]

The Quasimodo Pattern Indicator (QM) is a highly effective TradingView tool designed to identify the Quasimodo (QM) pattern, a robust price action reversal pattern rooted in RTM (Read The Market) trading methodology.
Named after the iconic character from Victor Hugo's "The Hunchback of Notre Dame," this pattern resembles a modified Head and Shoulders (H&S) formation but with a key distinction—it incorporates CHOCH (Change of Character), enhancing its reliability in spotting trend reversals.

You can access the Indicator from this link:
https://tradingfinder.com/products/i...imodo-pattern/

You can access the Indicator on the TradingView website:
https://www.tradingview.com/script/H...and-Shoulders/

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Key Features of the Quasimodo Pattern Indicator

1. Non-Repainting & Leading Indicator – Provides real-time signals without lag.
2. Multi-Timeframe Compatibility – Works across scalping, day trading, and swing trading strategies.
3. Versatile Asset Coverage – Applicable in Forex, Cryptocurrencies, Stocks, Commodities, and Indices.
4. Clear Entry & Exit Levels – Defines precise stop-loss (SL) and take-profit (TP) zones.

How the Quasimodo Pattern Works
QM Pattern in an Uptrend (Bearish Reversal)

1. Left Shoulder Forms – Price makes a high, retraces, then rallies again.
2. Head Formation – Price peaks higher than the left shoulder, creating a new high.
3. CHOCH (Change of Character) – Price breaks below the previous low, signaling weakness.
4. Right Shoulder Confirmation – Price retests the left shoulder level but fails to break higher.
5. Sell Signal Triggered – Entry is confirmed with SL above the head and TP at the CHOCH low.

Inverse QM Pattern in a Downtrend (Bullish Reversal)

1. Left Shoulder Forms – Price makes a low, bounces, then declines again.
2. Head Formation – Price drops lower than the left shoulder, forming a new low.
3. CHOCH (Change of Character) – Price breaks above the prior high, indicating strength.
4. Right Shoulder Confirmation – Price retraces to the left shoulder level but holds.
5. Buy Signal Triggered – Entry is confirmed with SL below the head and TP at the CHOCH high.

Optimal Trading Strategies with the QM Indicator

Best Timeframes for Trading the QM Pattern

1. Scalping: 1M – 5M charts for fast reversals.
2. Day Trading: 15M – 1H for intraday setups.
3. Swing Trading: 4H – Daily for high-probability reversals.

Confirmation Techniques for Higher Accuracy

1. Trend Alignment – Trade QM reversals in the direction of the larger trend.
2. Support & Resistance Levels – Look for QM formations near key zones.
3. Volume & Momentum Indicators – Use RSI, MACD, or Order Flow for additional confirmation.

Quasimodo Pattern Indicator Settings
The default Pivot Period is set to 5, but traders can adjust sensitivity based on market conditions.

Advantages of Using the QM Indicator

1. High Reliability – CHOCH integration reduces false signals.
2. Clear Risk Management – Defined SL & TP levels improve trade execution.
3. Adaptable to All Markets – Works in Forex, Crypto, Stocks, and Commodities.

Final Thoughts
The Quasimodo Pattern Indicator is a powerful reversal tool that enhances traditional Head & Shoulders analysis by incorporating CHOCH breakouts. Whether you're a scalper, day trader, or swing trader, this non-repainting indicator helps identify high-probability reversals with precision.