ABCD Harmonic Projection [WillyAlgoTrader]📐 ABCD Harmonic Projection is an overlay indicator that automatically detects ABCD harmonic patterns from ZigZag pivots, validates them against Fibonacci ratio constraints (BC/AB retracement + CD/AB extension), scores each pattern with a 4-factor quality engine (0–100), projects the D-point completion zone, and draws Target and Stop zones with Fibonacci extension and retracement levels — with full TP/SL outcome tracking and separate bull/bear win rate statistics.
The ABCD pattern is one of the foundational harmonic structures: four alternating swing points (A→B→C→D) where the BC leg retraces a Fibonacci portion of the AB leg, and the CD leg extends from C toward a projected D-point that is a Fibonacci ratio of the AB leg. When price reaches the D-point, the pattern completes — and a reversal or continuation move is expected. This indicator automates the entire detection-to-target workflow: find the swings, measure the ratios, validate the geometry, project the target, and track the outcome.
🧩 WHY THESE COMPONENTS WORK TOGETHER
Manually identifying ABCD patterns requires eyeballing four pivot points, measuring two Fibonacci ratios, estimating the D-point projection, and drawing the target zone — across multiple instruments and timeframes. Most traders miss patterns or miscalculate ratios.
This indicator chains each step into an automated pipeline:
ZigZag pivot detection → 4-point ABCD extraction → BC/AB ratio validation → CD/AB extension calculation → D-point projection → 4-factor quality scoring → Target Zone + Stop Zone placement → Fibonacci extension/retracement overlay → TP/SL outcome tracking → Win rate statistics
The ZigZag engine ensures only confirmed alternating swings are used (no noise pivots). The ratio validation filters patterns to only those within Fibonacci-valid ranges. The quality scoring ranks patterns by how close they are to ideal geometry. The D-point projection gives a specific price target — not a vague area. And the Target/Stop zones provide precise trade management levels anchored to the pattern's own geometry.
🔍 WHAT MAKES IT ORIGINAL
1️⃣ ZigZag pivot engine with direction management.
The indicator uses a directional ZigZag that enforces strict alternation: after a swing high, only a swing low is accepted (and vice versa). If price makes a higher high during an existing up-leg, the previous swing high is updated in place (not duplicated). This prevents the common problem of multiple consecutive highs being treated as separate pivots.
Pivots are detected using ta.pivothigh/ta.pivotlow with configurable lookback (default 8 bars). The ZigZag stores prices, bar indices, and directions in parallel arrays — providing the last 200 pivots for pattern scanning.
2️⃣ Fibonacci-validated ABCD pattern detection.
When a new pivot is confirmed and at least 4 pivots exist, the indicator extracts the most recent A, B, C points and validates:
— BC/AB retracement ratio : must be between minBcAbRatio (default 0.382) and maxBcAbRatio (default 0.886). Classic ABCD ratios are 0.382, 0.500, 0.618, 0.786, and 0.886. Patterns outside this range are rejected.
— ATR minimum swing filter : the AB leg must be at least 1× ATR in size — filtering out noise patterns during low-volatility bars.
— Minimum leg depth : AB must span at least 3 bars — ensuring the pattern has temporal structure, not just a single spike.
Pattern direction: if B > A → bullish ABCD (D projected above C). If B < A → bearish ABCD (D projected below C).
The D-point is projected from C using the average of the configurable CD/AB ratio range: projectedD = C + direction × |AB| × avgCdAbRatio.
3️⃣ 4-factor pattern quality scoring (0–100).
Each detected pattern receives a quality score from four dimensions:
— 📐 Fibonacci precision (45 pts) : how close BC/AB is to the nearest standard Fibonacci level (0.382, 0.500, 0.618, 0.786, 0.886, 1.000, 1.272, 1.618). Exact Fib ratio = full points. 0.05 away = partial. 0.18+ away = zero. This is the most heavily weighted factor because Fibonacci alignment is the core of harmonic pattern validity.
— ⏱️ Time symmetry (25 pts) : the ratio of estimated CD bars to AB bars. Perfect symmetry (CD bars = AB bars) = 25 points. Asymmetric patterns (one leg much longer) score lower.
— ⚖️ Price symmetry (20 pts) : BC retracement depth relative to 0.618 — deeper retests (closer to 0.618) score higher. Very shallow pullbacks (e.g., 0.236) receive fewer points.
— 📏 Leg maturity (10 pts) : AB leg length in bars — patterns with 8+ bars get full points, 5+ get 7, 3+ get 3. Single-bar spikes score zero.
Patterns below the Min Pattern Score threshold (default 40) are not displayed.
4️⃣ Fibonacci extension levels projected from C.
Four AB extension levels are drawn from point C in the direction of the pattern:
— 0.786 × |AB| — shallow completion
— 1.000 × |AB| — classic equal-leg ABCD
— 1.272 × |AB| — extended completion
— 1.618 × |AB| — maximum extension
The 1.0 level is drawn thicker (2px, less transparency) as it represents the ideal equal-leg completion. Each level includes a price label. Additionally, the measured BC/AB retracement ratio is displayed at the midpoint of the BC leg for reference.
5️⃣ Fibonacci retracement levels within C→D (partial TP targets).
For active patterns, three retracement levels are drawn between C and the projected D:
— 0.382 of CD range — first partial profit target
— 0.500 of CD range — mid-target
— 0.618 of CD range — aggressive partial take
These provide natural exit levels before the full D-point is reached — useful for scaling out of positions progressively.
6️⃣ Target Zone + Stop Zone with geometric sizing.
On each pattern:
— TARGET ZONE : a band around the projected D-point, sized at 10% of the CD range. For bullish patterns: the zone sits just below D. For bearish: just above D. This is where the pattern completion trade expects to reach profit.
— STOP ZONE : a band around point C, also sized at 10% of CD range. For bullish patterns: below C. For bearish: above C. If price returns past C, the pattern structure is broken.
Both zones extend rightward until price touches the target zone (tracked by touch bar), or the pattern resolves (TP/SL hit). Zones use distinct colors: green for target, red for stop.
7️⃣ TP/SL outcome tracking with separate bull/bear statistics.
Each active pattern monitors:
— TP hit : price reaches the projected D-point (high ≥ D for bull, low ≤ D for bear)
— SL hit : price returns past C against the pattern direction (low ≤ C for bull, high ≥ C for bear)
— Simultaneous TP+SL on the same bar → resolved as loss (conservative)
On TP hit: R:R is calculated as |entry to TP| / |entry to SL| and accumulated. The dashboard shows separate bull and bear win rates with average R:R on wins.
8️⃣ Active-only display mode.
When "Show Active Only" is enabled (default), completed patterns (TP or SL already hit) are hidden — only the current live pattern remains on the chart. When disabled, up to maxPatterns historical patterns are shown for context. This prevents chart clutter while maintaining full statistical tracking.
9️⃣ One-active-pattern constraint.
The indicator only allows one active pattern at a time. When an active pattern exists (status = 0), no new patterns are detected. This prevents overlapping projections and conflicting zones. A new pattern can only be detected after the current one resolves (TP or SL).
⚙️ HOW IT WORKS — CALCULATION FLOW
Step 1 — ZigZag: Directional pivot detection with alternation enforcement. Higher highs update existing swing (no duplicate). Lower lows same. Pivots stored in parallel arrays.
Step 2 — Pattern extraction: On each new confirmed pivot: extract A (3rd-to-last), B (2nd-to-last), C (latest). Compute AB length, BC length, BC/AB ratio.
Step 3 — Validation: BC/AB within Fibonacci range? AB ≥ ATR? AB ≥ 3 bars? No active pattern already?
Step 4 — Scoring: 4 factors: Fibonacci precision (45), time symmetry (25), price symmetry (20), leg maturity (10). Score ≥ minScore → pattern accepted.
Step 5 — Projection: D = C + direction × |AB| × avgCdAbRatio. Bars capped at maxBarsProjection.
Step 6 — Drawing: On barstate.islast: delete-and-redraw all visible patterns. AB and BC legs as solid lines. CD projection as dotted. A/B/C/D labels. Score label. Target/Stop zones as boxes. Fib extension and retracement levels as dashed lines with price labels.
Step 7 — Evaluation: Each bar: check all active patterns for TP/SL hits. Update status, accumulate win/loss stats, record R:R.
📖 HOW TO USE
🎯 Quick start:
1. Add the indicator — ABCD patterns appear automatically as colored leg lines with A/B/C/D labels
2. Yellow dotted line from C = projected path to D
3. Green "TARGET ZONE" box = where price should reach (take profit)
4. Red "STOP ZONE" box = where the pattern is invalidated (stop loss)
5. Blue dashed lines = Fibonacci extension levels (0.786, 1.0, 1.272, 1.618)
6. Blue dotted lines = partial TP targets (0.382, 0.5, 0.618 of CD)
7. "Long"/"Short" label = confirmed entry signal
👁️ Reading the chart:
— 🟢 Green legs + labels = bullish ABCD (D above C, expecting up-move)
— 🔴 Red legs + labels = bearish ABCD (D below C, expecting down-move)
— 🟡 Dotted projection line = expected path C → D
— 🟢 "TARGET ZONE" box = profit target area around projected D
— 🔴 "STOP ZONE" box = invalidation area around C
— 🔵 Dashed lines = Fib extension levels from C (0.786/1.0/1.272/1.618 of AB)
— 🔵 Dotted lines = CD retracement levels (partial TPs: 0.382/0.5/0.618)
— Score label (e.g., "72%") = pattern quality
📊 Dashboard fields:
— Patterns: active / total count
— Last Signal: direction + status (Active/TP ✓/SL ✗) + score
— Bull W/L: wins/losses and win rate for bullish patterns
— Bear W/L: wins/losses and win rate for bearish patterns
— Avg R:R: average reward-to-risk on winning bull/bear trades
— ATR: current value for reference
— Timeframe, version
🔧 Tuning guide:
— Too many patterns: increase ZigZag Length (12–21), increase Min Score (60+), enable ATR filter
— Too few patterns: decrease ZigZag Length (5–8), decrease Min Score (30), widen BC/AB ratio range
— Patterns too small: increase ATR filter or ZigZag Length
— Want only perfect geometry: narrow BC/AB to 0.500–0.786, set CD/AB to 0.9–1.1, Min Score 70+
— Extended patterns: set Max CD/AB to 1.618 or higher
⚙️ KEY SETTINGS REFERENCE
⚙️ Main:
— ZigZag Length (default 8): pivot detection lookback
— Pivot Sources : configurable high/low sources
📐 Pattern:
— Min/Max BC/AB Ratio (default 0.382/0.886): Fibonacci retracement range
— Min/Max CD/AB Ratio (default 0.786/1.618): extension range for D projection
— Min Pattern Score (default 40): quality threshold
— ATR Filter (default On): minimum swing size
— Max Patterns (default 3): display limit
— Active Only (default On): hide completed patterns
🎨 Visual:
— Buy/Sell signals, D projection, Fib levels, TP/SL zones, A/B/C/D labels, score (all toggleable)
— Auto / Dark / Light theme
🔧 Advanced:
— Max Bars for D Projection (default 200): limits distant projections
🔔 Alerts
— 🟢 LONG ABCD / 🔴 SHORT ABCD — entry, TP, SL, score, pattern type
All support plain text and JSON webhook format. Bar-close confirmed.
⚠️ IMPORTANT NOTES
— 🚫 No repainting. All signals require barstate.isconfirmed and newPivot (confirmed ZigZag pivot). Patterns are detected after the pivot bar closes. Drawings are rendered on barstate.islast using delete-and-redraw — previous bar's pattern state is final.
— 📐 The ZigZag enforces strict alternation : high → low → high → low. If price makes a higher high during an existing up-swing, the previous high is updated in place — no duplicate pivots are created. This is essential for correct A/B/C/D extraction.
— ⚖️ Only one active pattern is allowed at a time. New patterns are blocked until the current one resolves (TP or SL). This prevents conflicting signals and overlapping zones.
— 📊 The quality score is heavily weighted toward Fibonacci precision (45 out of 100 points). A pattern with BC/AB exactly at 0.618 scores much higher than one at 0.450. This reflects the harmonic principle that Fibonacci alignment is the primary measure of pattern validity.
— 🔒 Simultaneous TP+SL on the same bar is resolved as a loss (conservative) . This prevents ambiguous outcomes from inflating win rates.
— 📏 The D-point projection uses the average of the min/max CD/AB ratio range — not the exact 1.0 (equal legs). With default settings (0.786–1.618), the projected D is at 1.202× AB from C — between classic and extended. Adjust the CD/AB range to target specific completion types.
— 🛠️ This is a harmonic pattern detection and projection tool , not an automated trading bot. It identifies ABCD geometry, projects D-point targets, and provides structured trade zones — trade decisions remain yours.
— 🌐 Works on all markets and timeframes. Indicator
Gartley Harmonic Pattern [TradingFinder] Harmonic Chart patterns🔵 Introduction
Research by H.M. Gartley and Scott Carney emphasizes the importance of harmonic patterns in technical analysis for predicting market movements. Gartley's work, particularly the Gartley 222 pattern, is detailed in his book "Profits in the Stock Market" and relies on the specific placement of points X, A, B, C, and D.
🟣 Defining the Gartley Pattern
The Gartley pattern is a powerful technical analysis tool often seen at the end of a trend, signaling a potential reversal. Ideally, it forms during the first and second waves of Elliott Wave theory, with wave XA representing wave 1 and the entire ABCD correction representing wave 2.
While patterns outside this structure are also valid, the key points of the Gartley pattern align closely with Fibonacci retracement levels. Specifically, point B corrects wave XA to the 61.8% level, point C lies between 38% and 79% of wave AB, and point D extends between 113% and 162% of wave BC.
The bullish Gartley pattern, shown below, forms at the end of a downtrend and signals a potential buying opportunity.
Bullish :
Bearish :
🔵 How to Use
🟣 Bullish Gartley Pattern
To spot a bullish Gartley pattern, follow these rules: the move from point X to point A (the first leg) must be upward. The subsequent move from point A to point B is downward, followed by an upward move from point B to point C.
Finally, the move from point C to point D is downward. On a chart, this pattern resembles the letter M. After the final leg of this pattern, prices are expected to rise from point D.
🟣 Bearish Gartley Pattern
A bearish Gartley pattern forms similarly to the bullish one but in reverse. The initial move from point X to point A should be downward. The next move from point A to point B is upward, followed by a downward move from point B to point C.
The final leg moves upward from point C to point D. This pattern appears as a W on charts, indicating that prices are likely to fall from point D after the final move.
By understanding and identifying Gartley patterns, traders can enhance their technical analysis and improve their decision-making in financial markets. These patterns, when correctly identified, offer significant insights into potential market reversals and continuation patterns.
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Format : If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : On / Off
Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default. Indicator
Crab Harmonic Pattern [TradingFinder] Harmonic Chart patterns🔵 Introduction
The Crab pattern is recognized as a reversal pattern in technical analysis, utilizing Fibonacci numbers and percentages for chart analysis. This pattern can predict suitable price reversal areas on charts using Fibonacci ratios.
The structure of the Crab pattern can manifest in both bullish and bearish forms on the chart. By analyzing this structure, traders can identify points where the price direction changes, which are essential for making informed trading decisions.
The pattern's structure is visually represented on charts as shown below. To gain a deeper understanding of the Crab pattern's functionality, it is beneficial to become familiar with its various harmonic forms.
🟣 Types of Crab Patterns
The Crab pattern is categorized into two types based on its structure: bullish and bearish. The bullish Crab is denoted by the letter M, while the bearish Crab is indicated by the letter W in technical analysis.
Typically, a bullish Crab pattern signals a potential price increase, whereas a bearish Crab pattern suggests a potential price decrease on the chart.
The direction of price movement depends significantly on the price's position within the chart. By identifying whether the pattern is bullish or bearish, traders can determine the likely direction of the price reversal.
Bullish Crab :
Bearish Crab :
🔵 How to Use
When trading using the Crab pattern, crucial parameters include the end time of the correction and the point at which the chart reaches its peak. Generally, the best time to buy is when the chart nears the end of its correction, and the best time to sell is when it approaches the peak price.
As we discussed, the end of the price correction and the time to reach the peak are measured using Fibonacci ratios. By analyzing these levels, traders can estimate the end of the correction in the chart waves and select a buying position for their stock or asset upon reaching that ratio.
🟣 Bullish Crab Pattern
In this pattern, the stock price is expected to rise at the pattern's completion, transitioning into an upward trend. The bullish Crab pattern usually begins with an upward trend, followed by a price correction, after which the stock resumes its upward movement.
If a deeper correction occurs, the price will change direction at some point on the chart and rise again towards its target price. Price corrections play a critical role in this pattern, as it aims to identify entry and exit points using Fibonacci ratios, allowing traders to make purchases at the end of the corrections.
When the price movement lines are connected on the chart, the bullish Crab pattern resembles the letter M.
🟣 Bearish Crab Pattern
In this pattern, the stock price is expected to decline at the pattern's completion, leading to a strong downward trend. The bearish Crab pattern typically starts with a price correction in a downward trend and, after several fluctuations, reaches a peak where the direction changes downward, resulting in a significant price drop.
This pattern uses Fibonacci ratios to identify points where the price movement is likely to change direction, enabling traders to exit their positions at the chart's peak. When the price movement lines are connected on the chart, the bearish Crab pattern resembles the letter W.
🔵 Setting
🟣 Logical Setting
ZigZag Pivot Period : You can adjust the period so that the harmonic patterns are adjusted according to the pivot period you want. This factor is the most important parameter in pattern recognition.
Show Valid Format : If this parameter is on "On" mode, only patterns will be displayed that they have exact format and no noise can be seen in them. If "Off" is, the patterns displayed that maybe are noisy and do not exactly correspond to the original pattern.
Show Formation Last Pivot Confirm : if Turned on, you can see this ability of patterns when their last pivot is formed. If this feature is off, it will see the patterns as soon as they are formed. The advantage of this option being clear is less formation of fielded patterns, and it is accompanied by the latest pattern seeing and a sharp reduction in reward to risk.
Period of Formation Last Pivot : Using this parameter you can determine that the last pivot is based on Pivot period.
🟣 Genaral Setting
Show : Enter "On" to display the template and "Off" to not display the template.
Color : Enter the desired color to draw the pattern in this parameter.
LineWidth : You can enter the number 1 or numbers higher than one to adjust the thickness of the drawing lines. This number must be an integer and increases with increasing thickness.
LabelSize : You can adjust the size of the labels by using the "size.auto", "size.tiny", "size.smal", "size.normal", "size.large" or "size.huge" entries.
🟣 Alert Setting
Alert : On / Off
Message Frequency : This string parameter defines the announcement frequency. Choices include: "All" (activates the alert every time the function is called), "Once Per Bar" (activates the alert only on the first call within the bar), and "Once Per Bar Close" (the alert is activated only by a call at the last script execution of the real-time bar upon closing). The default setting is "Once per Bar".
Show Alert Time by Time Zone : The date, hour, and minute you receive in alert messages can be based on any time zone you choose. For example, if you want New York time, you should enter "UTC-4". This input is set to the time zone "UTC" by default.
Indicator
Smart Money Setup 04 [TradingFinder] Three Drive (Harmonic) + OB🔵 Introduction
The "Three Drive" pattern is a well-known formation in technical analysis, recognized for its ability to signal potential trend reversals in price action. Within the realm of trading, particularly in the context of "Reversal Patterns," the Three Drive pattern holds significance as a reliable indicator of shifts in market sentiment.
🟣 Bullish 3 Drive
This pattern typically manifests at a price bottom, where a sequence of lower lows suggests a prevailing negative trend. However, within the structure of the Three Drive pattern, a notable occurrence unfolds.
The second low breaches the range of the first low, followed by the third low surpassing the range of the second low. These penetrations signify a diminishing selling pressure and an emerging buying interest.
Traders often await the confirmation of the third low surpassing the second low as an entry point, with price targets set at the highs formed within the Three Drive pattern.
🟣 Bearish 3 Drive
Conversely, the Bearish Three Drive pattern emerges at a price top, characterized by a sequence of higher highs indicating an upward trend. Yet, amidst this apparent bullish momentum, a shift occurs.
The second high breaks beyond the range of the first high, succeeded by the third high exceeding the range of the second high. These breaches signify a waning buying strength and a resurgence in selling pressure.
Entry into a trade is often executed after the confirmation of the third high surpassing the second high, with targets set at the lows formed within the Three Drive pattern.
Importance :
Understanding the Three Drive pattern's significance extends beyond mere technical analysis. It bears resemblance to other established patterns, such as the Harmonic Pattern and Ending Diagonal within the Elliott Wave Theory.
Recognizing these parallels aids traders in comprehending broader market dynamics and potential price movements.
🔵 Formation of 3 Drive in Order Block Zone
The convergence of the Three Drive pattern with the concept of the Order Block Zone introduces a nuanced layer to traders' analytical approach.
In "Price Action" methodology, Order Blocks represent areas on the price chart where significant market players, such as institutional traders, have executed notable orders.
These zones often act as barriers, with price encountering resistance or support upon reaching them.
When the Three Drive pattern forms within an Order Block Zone, it signifies a confluence of market dynamics.
The completion of the pattern within this zone suggests a potential reversal in the prevailing trend, augmented by the presence of significant institutional orders.
Traders incorporate these Order Blocks into their analysis to identify probable levels where price may change direction, enhancing the reliability of their trading decisions.
🔵 How to Use :
To effectively utilize the Three Drive pattern within the Order Block Zone, traders seek alignment between the completion of the pattern and the presence of significant Order Blocks.
This convergence enhances the reliability of the pattern's signals, increasing the likelihood of successful trade outcomes.
Bullish Three Drive in Demand Zone :
Bearish Three Drive in Supply Zone :
Settings :
You can set your desired "Pivot Period" via settings for the indicator to identify setups based on it.
Indicator
Three Drive [TradingFinder] 3 Drive Harmonic Pattern Indicator🔵 Introduction
The "Three Drive" pattern is one of the light "RTM" setups suitable for identifying price trend reversals. For this reason, this pattern is considered one of the "Reversal Patterns."
🟣 Bullish 3 Drive
At a price bottom, a formation occurs where the negative trend appears to continue, and lower lows are made.
However, the second low penetrates the range of the first low, and the third low penetrates the range of the second low, indicating a decrease in selling pressure and an increase in buying pressure.
Entry point is issued after the penetration of the third low to the second low, and targets are the highs formed in the "3 Drive."
🟣 Bearish 3 Drive
At a price top, a formation occurs where the positive trend appears to continue, and higher highs are made.
However, the second high penetrates the range of the first high, and the third high penetrates the range of the second high, indicating a decrease in buyers' strength and an increase in sellers' strength.
Entry point is issued after the penetration of the third high to the second high, and targets are the lows formed in the "3 Drive."
Importance :
This pattern bears a striking resemblance to the some of "Harmonic Pattern" and "Ending Diagonal" in the "Elliott Pattern".
🔵 How to Use
There is no need for further confirmation to use this pattern, and you can use it as soon as the pattern forms. However, to reduce errors, it is better to use this pattern when it forms within a "Supply and Demand" or "Support and Resistance" structure.
Bullish 3 Drive in Demand Zone :
Bearish 3 Drive in Supply Zone :
🔵 Settings
You can set your desired "Pivot Period" via settings for the indicator to identify setups based on it.
Indicator
Harmonic Pattern Detection [LuxAlgo]Harmonic patterns make up a major part of the many patterns traders use to make investment decisions. The following tool aims to automatically categorize which XABCD harmonic pattern is highlighted by the user and to alert when the price reaches the PRZ or D point.
The tool can categorize Bat, Gartley, Butterfly, and Crab patterns.
Settings
XA Precision: The Gartley and Butterfly patterns require precise ratios for the XA segment, this setting allows giving some headroom for the detection of these patterns. For example, the Gartley pattern requires a ratio for the XA segment of 0.618, using an XA precision of 0.01 will allow the segment to be considered correct if above 0.608 and under 0.628.
Bullish: Color of a bullish pattern
Bearish: Color of a bearish pattern
The X, A, B, C, D settings determine the location of the harmonic pattern vertices. The user does not need to change them from the settings, instead only requiring adjusting their location on the chart like with a regular drawing tool. Setting these vertices is required when adding the indicator to your chart.
Usage
Upon setting the harmonic pattern vertices, the segments, as well as each ratio and PRZ, will be displayed. A dashboard in the top right displays which harmonic pattern has been detected.
Detected bearish crab pattern on BTCUSD15.
Bullish butterfly pattern on MATICUSD15. It is important not to use an XA precision value that would return overlapping ranges between the Gartley/Harmonic and other patterns. Using the default value is recommended.
The upper limit of the PRZ is determined as vertex D plus 38.2% of segment DX, while the lower limit is the vertex D minus 38.2% of segment DX. Various methods exist for the determination of the PRZ, this one is general but the user can use one proper to the detected harmonic pattern.
Finally hovering on the label highlighting the segment ratios return the proper ratio used by each harmonic pattern for that precise segment. Indicator
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