Harmonic Pattern Indicator
A Harmonic Pattern Indicator is a technical analysis tool used in trading to identify specific price patterns that suggest potential reversals in the market. These patterns, which include formations like the Gartley, Bat, Butterfly, and Crab patterns, rely on Fibonacci retracement and extension levels to dictate entry and exit points. Traders use these indicators to enhance their decision-making process, aiming to capitalize on predicted price movements based on historical price behaviors. Various trading platforms offer built-in or customizable harmonic pattern indicators that help users efficiently spot these formations in real-time data.
