PZ ABCD Retracement MT5
This indicator finds AB=CD retracement patterns. The AB=CD Retracement pattern is a 4-point price structure where the initial price segment is partially retraced and followed by an equidistant move from the completion of the pullback, and is the basic foundation for all harmonic patterns.
- Customizable pattern sizes
- Customizable AC and BD ratios
- Customizable breakout periods
- Customizable lines, colors and sizes
- It displays SL and TP levels based on CD fibo levels
- Visual/sound/push/mail alerts for patterns and breakouts
AB=CD Retracements can expand and repaint quite a bit. To make things easier this indicator implements a twist: it waits for a donchian
breakout in the right direction before signaling the trade. The end result is an otherwise repainting indicator with a very reliable
trading signal. The donchian breakout period is entered as an input.
- Bullish retracements are blue
- Bearish retracements are red
- Amplitude: Size of the AB=CD patterns to be found
- Breakout Period: Donchian breakout period to time signals
- Max History Bars: Amount of bars to look back when the indicator loads
- Min AC: Minimum AC ratio of the pattern
- Max AC: Maximum AC ratio of the pattern
- Min BD: Minimum BD ratio of the pattern
- Max BD: Maximum BD ratio of the pattern
- AB = CD: Enable or disable the AB = CD condition
- Display Options: Display or hide labels, ratios and SL/TP levels
- Patterns: Select colors and sizes for the lines forming the pattern
- Labels: Select colors and sizes of the A,B,C,D labels
- Ratios and SL: Select colors and font-size for ratios and SL/TP labels
- Alert on breakouts: Enable to receive alerts when a pattern is found
- Alert on patterns: Enable to receive alerts when a breakout happens and arrows show up
- Alert settings: Enable or disable visual, push, email and sound alerts
- The indicator is evaluated every bar, not every tick.
- The last point of the pattern repaints as the pattern expands.
- You can have several indicators on the chart with different amplitudes.
- An alert is displayed when the pattern forms and also when the breakout takes place.
- A small percentage of trading signals can repaint. You can increase the breakout period.
Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.