en ABCD Retracement 8.0
Metatrader Indicator (MT4/MT5)
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ℹ Overview
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.
- Find harmonacci retracements easily
- Learn the basics of harmonacci patterns
- Useful to find cheap and expensive zones
- Customizable AC and BD ratios (for purists)
- t displays SL and TP levels based on CD fibo levels
- It implements visual/sound/push/mail alerts
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
Kindly note that price patterns such as AB=CD can expand and the indicator must repaint to follow the expansion of the pattern. If the pattern repaints beyond the AC/BD/AB=CD ratios entered in the parameters, the pattern will dissapear as it won't be valid any more. To trade these patterns, please resort to the donchian breakout signal.
Technical 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.
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Input parameters
When loading the expert to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks.
- 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
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FAQ
- Does the indicator repaint?
- Yes, the D point has to repaint as the pattern expands.
- Does the indicator implement alerts?
- Yes, it does.
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Comments
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Screenshots
