PZ ABCD Retracement MT5
Are you a harmonic trader? The AB=CD 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.
- Find harmonic retracements easily
- Learn the basics of harmonic patterns
- Useful to find cheap and expensive zones
- Customizable AC and BD ratios (for purists)
- Customizable breakout periods
- Visual/sound/push/mail alerts
Inspired by Scott M. Carney's book (Harmonic Trading Vol1), this indicator fulfills the basic needs of harmonic traders.
Please check our indicator, Harmonic Trading, for a more complete and comprehensive solution.
Some Nitty-Gritty Details
- 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.