BEST ABCD Pattern Screener
Jan 26, 2020
The BEST ABCD Pattern Screener indicator allows traders to monitor multiple assets simultaneously for harmonic ABCD pattern formations across a single consolidated chart. By utilizing fractal-based pivot detection, the tool identifies potential trend reversals and continuations based on the classic AB=CD price harmony.
Usage
The indicator is designed to simplify the monitoring of harmonic patterns across different markets including Forex, Stocks, and Crypto.
- Detection: The screener displays a square icon when a valid ABCD pattern is completed.
- Bullish Signals: A green square indicates a bullish ABCD pattern detection, suggesting a potential upward move.
- Bearish Signals: A red square indicates a bearish ABCD pattern detection, suggesting a potential downward move.
- Multi-Asset Monitoring: You can input up to five different symbols in the settings to track their patterns from a single window.
Details
The script identifies patterns by first locating pivot highs and lows using fractals. It supports two types of fractal calculations: Regular Fractals and Bill Williams Fractals.
The ABCD pattern logic follows specific Fibonacci-related ratios:
- ABC Move: The retracement must be between 0.382 and 0.886.
- BCD Move: The extension must be between 1.13 and 2.618.
By consolidating these detections into a vertical panel, the script helps traders avoid "analysis paralysis" caused by switching between multiple tabs and timeframes.
Settings
Asset Selection
- Symbol 1 - 5: Allows you to specify the ticker symbols (e.g., AAPL, TSLA, BTCUSD) you wish to screen.
Logic Settings
- Filter Bill Williams Fractals?: Toggles between Bill Williams fractal logic and standard regular fractal logic for pivot point detection. When enabled, it uses a specific 5-bar sequence to identify significant highs and lows.
FAQ
How do I interpret the colored squares?
A green square represents a completed bullish ABCD pattern, while a red square represents a completed bearish pattern. A light aqua dash indicates no pattern is currently detected for that specific asset.
Can I change the symbols being screened?
Yes, you can modify the five symbol inputs in the script settings menu to any valid TradingView ticker.
How do I access BEST ABCD Pattern Screener?
You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.
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