Harmonic scanners are used to identify patterns in Forex that can be utilized to enter trades. There are three types of harmonic scanners in Forex: an online program, a web platform, and a desktop and mobile trading platform.

Harmonic patterns are natural patterns or formations that occur on financial charts. A harmonic pattern arises from geometric price action and Fibonacci retracements/extension levels.

Harmonic patterns help traders understand price activity and forecast price direction when correctly identified. These patterns are also trend reversal patterns. A trader can enter a position in a zone with a high chance of reversal.

A harmonic scanner is a sophisticated trading tool used in the financial markets, specifically designed to identify potential trading opportunities based on harmonic patterns. These patterns, such as Gartley, Butterfly, and Bat, are geometric price patterns that follow specific Fibonacci retracement levels. The harmonic scanner scans the market in real-time, automatically detecting these patterns across various time frames and financial instruments, including forex, stocks, and commodities. By highlighting potential reversal points and providing precise entry, stop-loss, and take-profit levels, the scanner assists traders in making informed decisions. Its primary advantage lies in its ability to recognize high-probability setups, thereby enhancing trading accuracy and efficiency. This tool is particularly popular among technical analysts and pattern-based traders.