5-0 Harmonic Pattern Indicator TradingView - [TFlab]

The 5-0 Harmonic Pattern Indicator is a powerful tool designed to identify potential trend reversals in financial markets. By leveraging Fibonacci ratios and precise price movements, this pattern helps traders recognize key market structures and anticipate shifts in price direction.
On TradingView, the 5-0 Harmonic Pattern consists of five critical points (X-A-B-C-D), each connected by specific Fibonacci retracements and extensions. This pattern is particularly effective in spotting reversal signals after strong trending moves.

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/9...onic-Detector/

Prop Firm DrawDown Protector : Prop Firm Capital Protection Expert MT5 |Forex Money Management: Forex Trade Management Expert MT5 | ICT Concepts Indicator MT5 |Smart Money Concepts Expert MT5 | Smart Money Trap Scanner |Get a free Expert Advisor license via Telegram and WhatsApp

Key Features of the 5-0 Harmonic Pattern Indicator
Indicator Categories

1. Harmonic TradingView Indicators
2. Candlestick TradingView Indicators
3. Chart & Classic TradingView Indicators

Compatibility & Trading Applications

1. Platform: TradingView
2. Skill Level: Intermediate
3. Indicator Type: Reversal Signals
4. Timeframe: Multi-Timeframe Analysis
5. Trading Style: Intraday & Swing Trading
6. Markets: Forex, Cryptocurrencies, Commodities, Stocks

How the 5-0 Harmonic Pattern Works
Pattern Structure

1. X to A – The initial price movement (impulse wave).
2. A to B – A corrective retracement against the trend.
3. B to C – A secondary move in the original trend direction.
4. C to D – The final leg, completing the harmonic formation.

Once the pattern confirms, the indicator marks entry signals with arrows, helping traders capitalize on potential reversals.

Bullish 5-0 Harmonic Pattern (Buy Signal)
A bullish 5-0 pattern forms after a downtrend, signaling a potential upward reversal.
Example on Ethereum (ETH) – 15-Minute Chart

1. X to A: Initial upward move.
2. A to B: Corrective pullback.
3. B to C: New higher high (above point A).
4. C to D: Completion of the pattern.

The indicator plots a green arrow at point D, suggesting a buy entry.

Bearish 5-0 Harmonic Pattern (Sell Signal)
A bearish 5-0 pattern appears after an uptrend, indicating a possible downward reversal.
Example on Binance Coin (BNB) – 1-Hour Chart

1. X to A: Initial downward move.
2. A to B: Corrective retracement upward.
3. B to C: New lower low (below point A).
4. C to D: Pattern completion.

The indicator marks a red arrow at point D, signaling a sell entry.

Optimal Indicator Settings for TradingView
Configuration Parameters

1. ZigZag Pivot Period: 3 (for calculating swing highs/lows).
2. Show Valid Pattern: Enabled (displays only confirmed formations).
3. Show Formation Last Pivot Confirm: Activates final pivot confirmation.
4. Period of Formation Last Pivot: 1 (for precise validation).
5. Show Bullish/Bearish Patterns: Toggle based on trading strategy.
6. Color Customization: Adjust colors for better visibility.
7. Line Width: 1 (for clean chart presentation).
8. Label Size: Customizable for readability.
9. Theme Mode: Light/Dark for user preference.
10. Alerts: Set notifications for pattern confirmations.

Conclusion
The 5-0 Harmonic Pattern Indicator is an essential tool for traders seeking high-probability reversal setups. By combining automated pattern detection with Fibonacci principles, it improves decision-making in forex, crypto, and stock markets.
For optimal results, traders should:
Confirm signals with additional technical analysis.
Apply strict risk management strategies.
Use multi-timeframe analysis for stronger confluence.
Integrating this indicator into a trading plan can significantly enhance entry precision and market timing.