Quasimodo QM Pattern runs on MT4 and MT5, and it does the part of the job that pattern indicators usually leave to you.
Finding the shape is the easy half. The Quasimodo is a specific, countable sequence of pivots, and once you know what it looks like you can spot it by eye in a few seconds. The half that costs money is deciding where to get in, where you were wrong, and where to take it off. This one derives all three from the pattern's own pivots, and puts them on the chart as labelled lines.
The sequence it looks for
Price is reduced to a pivot zigzag with a period of five, and every pivot gets a two-letter label: higher high, higher low, lower high, lower low. Then the tool reads the last five labels.
A bullish Quasimodo needs, oldest to newest: a lower low, a lower high, a second lower low that goes beneath the first, and then a higher high that closes out above the lower high. Plus one more condition that most descriptions skip — the pivot before the whole sequence has to sit above the final high, which keeps the pattern inside a genuine prior downswing rather than floating in the middle of a rally.
Read that as a picture and it's a head and shoulders with the right shoulder failing: left shoulder, a head that digs deeper, then a push that takes out the intervening high instead of rolling over. The bearish case is the same thing inverted.
Where the four levels come from
Every one of them is a pivot the pattern already gave you. Nothing is a round number, a fixed pip distance or a fitted ratio.
| Line | Bullish case | Why there |
|---|---|---|
| Entry | the left shoulder's low | the level the pattern is expected to retrace into |
| SL | half an ATR beneath the head's low | past the deepest point the structure produced |
| TP1 | the lower high between the two lows | the first level the move has to reclaim |
| TP2 | the high that completed the pattern | where the structure actually broke |
So the entry is a limit order back down into the left shoulder, not a market order at the break. That is the whole point of trading this shape rather than chasing it, and it's the reason the entry line sits below the last price on a bullish signal.
The only measured distance anywhere is the half-ATR of padding on the stop. Everything else is a price the market printed.
What separates it from a normal pattern scanner
| Typical QM or head-and-shoulders tool | This one |
|---|---|
| Draws the shape and leaves the trade to you | Draws entry, stop and two targets from the pattern's pivots |
| Redraws as new pivots arrive | One signal per structure, latched until the head changes |
| Extends its lines forever | Lines stop half a pattern-width past the last pivot |
| Fires on any pivot sequence | Optional filter to keep only patterns sitting at a larger swing pivot |
That second row matters more than it sounds. The tool latches on the head's price: once a Quasimodo has been marked, the same structure can't fire again, and the latch only releases when a new head appears. Without it a single choppy area produces the same pattern four or five times as the zigzag gets re-read.
What it draws
Four dotted lines per signal, labelled Buy or Sell, SL, TP1 and TP2, plus the zigzag connecting the pivots that made the pattern. Bullish sets are drawn in blue and green, bearish in red and orange, and both stops are grey.
The lines don't run to the right edge. They stop half the pattern's own width past the last pivot, which is roughly how long the setup is worth waiting for. An old Quasimodo whose lines have already ended is the chart telling you that one has gone by.
What it can't do
The structure arrives five bars late. A pivot isn't a pivot until five bars have traded past it, so the pattern is drawn five bars after the high that completed it. That is not a flaw in this tool specifically, it's what a pivot is, but it does mean the entry line sometimes appears when price is already partway back into the zone. Lower Pivot period and you find the pattern sooner and find far more of them.
The swing filter is off by default. Filter only QM at swing pivot zone ships at 0, which disables it. Left off, a Quasimodo forming in the middle of a range is drawn exactly like one forming at the extreme of a multi-day swing. Setting it to something like 20 keeps only the ones sitting at a larger pivot, and cuts the count hard.
The alert doesn't say which chart it came from. It reads "Bullish Quasimodo Pattern detected!" with no symbol and no timeframe. Run it on six charts at once and you'll know something fired, not what. Look at the chart before acting on the popup.
There's no invalidation logic. Once the four lines are drawn they stay for their allotted width whether or not price ever reaches the entry, and whether or not it blows through the stop first. The tool marks the setup; it doesn't track what happened to it.
No higher-timeframe context. A bullish Quasimodo forming directly under a daily supply zone gets the same four lines as one with clear air above it.
Does it move after the fact
No. Pivots are labelled once, five bars after they form, and never relabelled. The four lines are placed when the pattern completes and stay at those prices. Nothing is recalculated on the live bar, and nothing extends or retreats as price moves.
The lag is real and the redrawing isn't. Those are different problems and it's worth being clear about which one you have.
Alerts are silent over history, so attaching it to two years of gold gives you every past pattern drawn and no popups at all. After that, one alert per pattern, on the terminal or by email.
Questions you'll have
Does Quasimodo QM Pattern repaint? No. A pivot is confirmed five bars after it prints and is never relabelled, and the entry, stop and target lines are fixed at the prices the pattern produced. What it does do is arrive five bars late, which is a property of pivots rather than a redraw.
Why is the entry line below the current price on a buy signal? Because the entry is the left shoulder's low, and the trade is a limit order back into it. If you wanted to buy the break you would already be in.
How do I get fewer signals? Raise Pivot period above 5, or turn on Filter only QM at swing pivot zone by setting it to something like 20. The second one is the bigger change: it keeps only patterns forming at a larger structural pivot.
Where does the stop come from? Half an ATR beyond the head, which is the extreme the pattern made. It's the one distance in the tool that isn't a raw pivot price.
What timeframes? H1 and H4 give the cleanest structures. It draws on M5 and M15, but at a five-bar pivot period a range will hand you Quasimodos all afternoon.
MT4? Both platforms are included, one download each. Same pivot period, same four levels, same defaults.
Support
Message me through the site with a screenshot of the chart, plus the symbol and timeframe. That's normally enough to work out why a particular pattern was or wasn't marked. Updates are included for as long as your subscription is running.
Analysis tool. It places no trades and makes no profitability claim. Past price behaviour is not a guide to future price behaviour.