PZ ABCD Retracement USE in mt4

[pengdirect]

The indicator finds the AB = CD retracement pattern. The AB = CD callback pattern is a 4-point price structure in which the initial price range is partially retraced and then moves equidistantly after the callback is completed. This is the basic basis of all harmonic patterns.

• Customizable pattern size
• Customizable AC and BD ratio
• Customizable breakthrough time
• Customizable lines, colors and sizes
• It displays SL and TP levels based on CD fiber level
• Visual/sound/push/mail alerts for patterns and breakthroughs

AB = CD Retracements can expand and redraw a lot of content. To make things easier, the indicator implements a twist: it waits for a Donchian breakout in the right direction before sending a signal to the trade. The end result is a repainted indicator with very reliable trading signals. Enter the donchian breakout period as input.

• The bullish retracement is blue
• Short retracements are red

Please note that price patterns (such as AB = CD) can be expanded, and the indicator must be redrawn to follow the expansion of the pattern. If the pattern repainting exceeds the AC / BD / AB = CD ratio entered in the parameters, the pattern will disappear because it will no longer be valid. To trade these patterns, ask for donchian breakout signals.

Input parameters

• Amplitude: AB = the size of the CD mode
• Breakout time period: Donchian breakout time to time signal
• Maximum historical bar chart: the number of bars to be reviewed when the indicator is loaded
• Minimum AC: The minimum AC ratio of the pattern
• Maximum alternating current: the maximum alternating current ratio of the pattern
• Minimum BD: the minimum BD ratio of the pattern
• Maximum BD: the maximum BD ratio of the pattern
• AB=CD: enable or disable AB=CD condition
• Display options: show or hide labels, ratios and SL/TP levels
• Pattern: Choose the color and size for the lines that form the pattern
• Label: Choose the color and size of label A, B, C, D
• Ratio and SL: Choose color and font size for ratio and SL/TP label
• Breakthrough alert: enable discovery style alert
• Mode alert: Enable to receive an alert when a breakthrough occurs and an arrow is displayed
• Alarm settings: enable or disable visual, push, email and sound alarms

technical details

• The indicator is evaluated at every bar instead of every tick mark.
• The last point of the pattern is redrawn as the pattern expands.
• You can have multiple indicators with different magnitudes on the chart.
• An alarm will be displayed when the pattern is formed and when a breakthrough occurs.
• A small part of trading signals can be redrawn. You can extend the group discussion time.