One from many harmonic pattern that consists of two equivalent price legs. The ABCD pattern that helps traders predict when the price is about to change direction.
Tracing And Calculation
This code using pivot high and pivot low built-in method and calculate with Fibonacci Retracement.
Limitation
To find ABCD pattern is very difficult, just coming up a few from thousand candle. That why this code using little bit tolerance ratio to get more pattern.
The buying and selling pressure triangles above and below candles appear late, very late. If someone is trading on the 15 min time frame the signal would appear between 5-6 candles late that is 1hour and 15 min late. Is there a way to reduce those late signals and thus make the indicator more accurate?
gsrinivas470
⋅
Well
smallcapunderdog
⋅
I stand corrected. I did not follow this indicator/system live. I just reviewed the past long/short trades indicated. This is the worst kind of indicator because it paints the calls to go long or short several bars back AFTER several more bars have closed, indicating which direction the asset is heading. I can't see what purpose this serves. We can all go back and call longs and shorts several bars back with perfection.
smallcapunderdog
⋅
This is a very effective on 1, 3, and 5 minute timeframes for highly liquid assets like ES, SPY and QQQ (and perhaps many other assets as well). I'm just using the triangles, not the other notifications. Thank you for your work on this signal strategy/indicator!