Discussing the article: "Automating Trading Strategies in MQL5 (Part 15): Price Action Harmonic Cypher Pattern with Visualization"
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Check out the new article: Automating Trading Strategies in MQL5 (Part 15): Price Action Harmonic Cypher Pattern with Visualization.
In this article, we explore the automation of the Cypher harmonic pattern in MQL5, detailing its detection and visualization on MetaTrader 5 charts. We implement an Expert Advisor that identifies swing points, validates Fibonacci-based patterns, and executes trades with clear graphical annotations. The article concludes with guidance on backtesting and optimizing the program for effective trading.
The Cypher pattern is a harmonic trading formation defined by five key swing points—X, A, B, C, and D—and exists in two forms: a bullish pattern and a bearish pattern. In a bullish Cypher, the structure forms a low-high-low-high-low sequence where point X is a swing low, point A a swing high, point B a swing low, point C a swing high, and point D a swing low (with D positioned below X). Conversely, a bearish Cypher forms a high-low-high-low-high sequence, with point X as a swing high and point D positioned above X. Below are the visualized pattern types.
Bullish Cypher Harmonic Pattern:
Bearish Cypher Harmonic Pattern:
Author: Allan Munene Mutiiria