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Shark Pattern Indicator

Shark Pattern Indicator

The shark pattern indicator is a newly discovered Harmonic pattern indicator. And, this is the best strategy to trade with high profit.

To validate the structure, this indicator follows certain Fibonacci ratios. Besides, this MT4 indicator is almost similar to the harmonic crab pattern.

You can trade with this indicator on all time frames. But, the recommended time frame to trade is 1-hour and above.

This Shark pattern indicator is also called a five-leg reversal pattern, and it follows the specific Fibonacci ratios.

The five-leg reversal pattern is O, X, A, B, and C.

There are 3 Fibonacci rules that a shark pattern indicator needs to fulfill. Such as

AB= retrace between 1.13 – 1.618 Fibonacci Extension of XA leg.

BC= extends to 113% Fibonacci extension of 0X leg.

CD= Poses a target of 50% Fibonacci Retracement of BC leg.

Once this MT4 indicator spots the shark pattern, you can enter at the open trade of the next candle.

And, you can enter into the market with protective stop loss as soon as C-leg is established.

Draw Shark Pattern on MT4 chart:

In the trading platform, you can see the harmonic pattern indicator located on the right side of the toolbar.

Next, identify the starting point, which is 0. And, it can be any swing high or low point on the MT4 chart.

Once you locate swing high/low on the chart, all you need to do is follow the market swing wave movements.

 

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