Dragon Harmonic Pattern Indicator for MT4 and MT5

Written by Dominic Walsh · Published 4 Jun 2026 · Last updated 21 Sep 2026

Every pattern method starts with the same problem: which turns count. The dragon harmonic pattern indicator answers it with a single deep skeleton. At a depth of twenty-four bars only substantial swings survive, and the line it draws through them is the structure everything else would be measured from.

This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.

Platforms	MT4 (.ex4) + MT5 (.ex5)
Chart window	Main price chart
Plots	1: ZigZag
Alerts	popup, push notification, email, sound
Inputs	9

Output you can see

One plot, on the price chart.

`ZigZag` traces tan through the surviving turns.

The line connects highs to lows directly.

Nothing is drawn in a pane below.

No ratio label appears on the chart.

The newest leg redraws while it forms.

• ZigZag: plot, tan

How the Dragon Harmonic Pattern Indicator reaches a value

Finding a candidate

`Depth` `24` bars back must fail to beat a bar for it to count as a local extreme. That is a deep window, so candidates are uncommon by design.

The size filter

`Deviation` `5` points is the minimum distance from the previous opposite turn. A candidate closer than that is discarded rather than starting a new leg.

The spacing filter

`Backstep` `2` bars must separate two same-type turns. Together with the depth rule that keeps the skeleton from doubling back on itself.

How to work with it

Each segment joins one confirmed turn to the next.

The most recent segment is provisional.

A deep setting means fewer, larger legs.

Leg lengths are what a ratio method would measure.

Turns confirm well after they happen.

Warm-up needs about twenty-six bars.

Alert channels in this build: popup, push notification, email and sound, one message per closed bar.

Price crossing the skeleton is what speaks here. `EnableAlerts` decides whether it does and a terminal box already shows it, while the handset, mail and desktop routes behind `SoundFile` each wait until you open them.

Every Dragon Harmonic Pattern Indicator input

Core settings

Setting	What it does	Default
Depth	Bars a turn must beat to count, `24`.	24
Deviation	Minimum points from the opposite turn, `5`.	5
Backstep	Bars between two same-type turns, `2`.	2

Alert settings

Setting	What it does	Default
EnableAlerts	Whether a new leg speaks, `true`.	on
EnablePopup	A terminal box shows it, `true`.	on
EnablePushNotify	A handset can show it too, `false`.	off
EnableEmail	Mail can carry it, `false`.	off
EnableSound	The desktop can sound it, `false`.	off
SoundFile	What it sounds, `”alert.wav”`.	alert.wav

What to load it on

A twenty-four bar depth wants a chart where a day is several bars. EURUSD H1 is the reference chart, where a leg typically spans two or three days. On M5 the depth barely covers two hours. On H4 each leg runs for weeks.

Where it comes unstuck

The newest leg repaints until its turn confirms.

A deep skeleton hides the smaller structure entirely.

Five points of deviation is tiny on most symbols.

A skeleton is a drawing, not an analysis.

Copy the compiled Dragon Harmonic Pattern Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.

Download the Dragon Harmonic Pattern Indicator for MT4 and MT5

The zip holds the compiled Dragon Harmonic Pattern Indicator build for MT4 and MT5, plus a short README. Compiled files only, no source. Enter your email below and the download link arrives in your inbox.

FAQ

Does the ZigZag plot repaint?

Its newest segment does, and unavoidably so. A turn only becomes final once twenty-four later bars have failed to beat it, so the last leg on the chart moves while that window is still filling.

Why is Depth set as high as 24?

To keep only substantial swings. A shallow setting produces a busy skeleton full of minor turns, which is useless as the basis for measuring legs; twenty-four bars leaves you the structure that matters.

Is Deviation 5 points or a percentage?

Points, not percentage. Five points is a small distance on most symbols, so this filter rarely does much work on its own and the depth rule carries nearly all of the filtering.

Why does Backstep 2 space same-type turns?

Because without it two turns of the same kind could land within a bar or two of each other. The skeleton would then double back on itself and produce segments too short to measure anything from.

Are results guaranteed?

No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Dragon Harmonic Pattern Indicator as one input. Always backtest before trading live.