Introduction

Ever felt overwhelmed trying to identify complex harmonic patterns manually, only to miss perfect Gartley or Butterfly setups? You’re not alone… Many traders pay for pricey scanners that lag or spit out false signals. Well, meet Shepherd Harmonic Pattern Indicator MT4, YoForex’s free, all-in-one solution that spots Gartleys, Bats, Cyphers, and Butterflies in real time, with zero repaint logic. Fully back-tested and live-market verified, it’s perfect for newbies and pros alike. No more hunting through charts for hours; Shepherd does the heavy lifting, so you can focus on executing high-probability trades. Sound good? Let’s dive in.

Overview

Shepherd Harmonic Pattern Indicator MT4 is a cutting-edge custom indicator for MetaTrader 4 that automatically detects and plots the major harmonic patterns—Gartley, Bat, Butterfly, Crab, and Cypher—directly on your charts. Built by YoForex’s quant and development team, it’s engineered for both precision and performance, so you get:

  • Automatic Pattern Recognition: Shepherd scans price swings in real time and draws the pattern labels (X–A–B–C–D) with entry, stop-loss, and target zones.

  • Zero Repainting: Signals are fixed once plotted; no sneaky shifts after bar closure.

  • Multi-Timeframe Support: Works from M1 scalps up to Daily swing setups.

  • Customizable Sensitivity: Tweak pattern tolerances to filter only the highest-quality formations.

  • Lightweight Code: Minimal CPU usage means you can run it alongside EAs or other indicators.

Whether you’re trading EURUSD on M15 or GBPJPY on H4, Shepherd adapts on the fly. New to custom MT4 indicators? Check out our Beginner’s Guide to MT4 Indicators for quick setup tips. If you want another angle on price-action, explore the Order Blocks All In One Indicator V1.08 MT5 for smart supply/demand zones.

Key Features

• Gartley, Bat, Butterfly, Crab & Cypher Detection: All major harmonic patterns spotted automatically.
• Precision Zones: Plots ideal entry, stop-loss, and multiple target levels.
• Adjustable Pattern Ratios: Fine-tune the Fibonacci tolerance levels (e.g., 78.6%, 88.6%) to your trading style.
• Multi-Symbol Dashboard: Monitor up to 8 symbols from one chart via the on-screen panel.
• Alerts & Notifications: Pop-ups, emails, and mobile push alerts when a pattern completes.
• Time-Frame Filtering: Enable or disable pattern detection on specific sessions (e.g., London only).
• Visual Confirmation Tools: On-chart RSI/MACD mini-widgets confirm pattern momentum.
• No Repaint Logic: Once drawn, patterns stay locked—no retroactive changes.
• Lightweight Engine: Optimized MQL4 code for zero lag.
• 100% Free: No subscriptions, no hidden fees—ever.

Backtest Results & Proof

We rigorously backtested Shepherd Harmonic Pattern Indicator MT4 across EURUSD, GBPUSD, and USDJPY over a 5-year period on the H1 timeframe. Sample size: 8,400+ pattern completions. Here are the headline stats:

  • Win Rate: 58% on first-target hits, 42% on second-target extensions.

  • Average Risk-Reward Ratio: 1:1.9 (target 1) and 1:3.2 (target 2).

  • Max Drawdown: 6.8% (during 2020 pandemic volatility).

  • Annualized Return: ~21% net of spread.

How to Install & Configure

  1. Download Shepherd Harmonic Pattern Indicator MT4 from MQL5.software:
    Download Shepherd Harmonic Pattern Indicator MT4

  2. Copy the ShepherdHarmonic.ex4 file into your MT4’s MQL4/Indicators/ folder.

  3. Restart MetaTrader 4 to refresh the Navigator pane.

  4. Attach “Shepherd Harmonic Pattern” to your desired chart (M1–D1).

  5. Adjust Inputs (defaults in parentheses):

    • Pattern Tolerance (%): 3 (allows slight fib deviations)

    • Max Pattern Age (bars): 50

    • Enable Multi-Symbol Dashboard: true

    • Session Filter: London & New York Only

  6. Save as a template for instant setup next time.

Pro Tip: For scalping on M5, tighten Pattern Tolerance to 2%; for swing trading on H4+, loosen it to 4% to catch more setups.

Why Choose YoForex-Powered Tools?

  • Free Access Forever: No paywalls, no sneaky upsells.

  • Frequent Updates: We push improvements bi-monthly based on your feedback.

  • Transparent Roadmap: You vote on new features via our Telegram group.

  • Diverse Toolset: From Shepherd Harmonic to Dynamic Pulse Pro Indicator MT4 and multiple EAs, we’ve got every edge covered.

Support & Contact

Ran into a hiccup? Need help interpreting patterns? Reach out any time:

Disclaimer: Past performance doesn’t guarantee future results. Always demo-test Shepherd on risk-free accounts before trading live. Manage risk responsibly; never risk more than you can afford to lose.

Call to Action

Ready to let Shepherd guide your entries? Download Shepherd Harmonic Pattern Indicator MT4 now—absolutely free on MQL5.software. Plug it into your charts, tweak the settings, and start spotting high-probability harmonic setups in minutes. Don’t wait—your trading edge is just one click away!