The Butterfly Harmonic Pattern ULTRA V1 indicator shows the well-known Butterfly Formation of the Harmonic Patterns and thus offers good signals for a trend reversal.
In order to use this indicator after purchase, an unblocked user account on TradingView* is required. Within 24 hours after payment, the indicator will be activated for the ordered period for the TradingView username, entered in the order process.
The Butterfly Harmonic Pattern ULTRA V1 indicator in action:
The indicator draws the individual lines as soon as the first 4 points are fixed. The last point is then predicted and remains fixed. There is therefore no repaint! However, the signal is generated as soon as the conditions in the immediate vicinity of the pattern are met (blue vertical lines show when the indicator gives signals).
When drawing the pattern, sometimes the problem arises that too many lines are drawn. The reason for this is the TradingView platform itself. To prevent TradingView servers from collapsing, a maximum of 50-55 lines/labels per indicator is allowed.
To work around this problem, the indicator offers two options in the settings. The settings of the indicator can be opened at the top left of the indicator name.
By clicking on the gear icon comes the adjustment mask. In it you can change the conditions for the respective chart.