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Indicator: Quasimodo Pattern QM MT4_fix.ex4 v3.2 (Unlocked MT4 Build 1440+), NO MANUAL.
What Is the Quasimodo Pattern in Price Action Trading?
The Quasimodo pattern is a powerful reversal trading setup that typically forms at the end of an uptrend. It consists of three peaks and two valleys, where the middle peak is the highest, and the two outer peaks are of similar height.
Why Is the Quasimodo Pattern Effective?
One of the key advantages of the Quasimodo pattern is its high win rate, making it a favorite among price action traders who focus on precision and timing.
How to Detect the Quasimodo Pattern
Since the pattern is relatively rare in the market, it’s best to run a reliable indicator on a VPS and enable push notifications to catch signals in real time and never miss a trading opportunity.
Quasimodo Trading Setup
Entry Strategy
When price pulls back after forming the Quasimodo pattern, it often triggers unfilled orders near the left shoulder level. This is your key zone for entry. A smart approach is to draw a supply or demand zone at the left shoulder level and use it as a confirmation point for your trade entry.
Stop-Loss Placement
Place your stop-loss just above the higher high (in case of a bearish reversal) or below the lower low (in case of a bullish reversal). This helps protect your position against false breakouts.
Take-Profit Target
For a bullish reversal, set your take profit at the most recent lower low.
For a bearish reversal, aim for the most recent higher high as your target.
