OPEN-SOURCE SCRIPT
Updated ABC Pro Ultimate S/R
ABC Pro Ultimate is a high-precision trading tool designed to identify harmonic ABC (Zigzag) patterns and combine them with institutional Support & Resistance levels. Unlike standard indicators that clutter your chart with noise, this script filters for high-relevance pivot points from the distant past to provide truly meaningful trade setups.
Release Notes
Dynamic ABC Pattern Tracking: Unlike static indicators, this script tracks Point C in real-time. If the price reaches a new extreme during the correction phase (within Fibonacci limits), the pattern and its targets adjust dynamically to the new price data.Power S/R (Institutional Levels): The indicator scans up to 2,000 bars back to identify "Power Levels"—pivots that have historically acted as major turning points. This provides a clear view of where "Big Money" has stepped in before.Wick vs. Body Precision: Traders can choose whether to calculate S/R levels based on Candle Wicks (absolute extremes) or Candle Bodies (market consensus), allowing for a more customized strategy.Auto-Calculated Target Zones: Once a pattern is confirmed, the script projects three Fibonacci extension targets ($1.618$, $1.809$, and $2.0$) as color-coded zones on the chart.Smart Cleanup & Invalidation: To keep your chart clean, patterns are automatically removed if the price hits the primary target or breaks the invalidation level (Stop Loss).Release Notes
Dynamic ABC Pattern Tracking: Unlike static indicators, this script tracks Point C in real-time. If the price reaches a new extreme during the correction phase (within Fibonacci limits), the pattern and its targets adjust dynamically to the new price data.Power S/R (Institutional Levels): The indicator scans up to 2,000 bars back to identify "Power Levels"—pivots that have historically acted as major turning points. This provides a clear view of where "Big Money" has stepped in before.Wick vs. Body Precision: Traders can choose whether to calculate S/R levels based on Candle Wicks (absolute extremes) or Candle Bodies (market consensus), allowing for a more customized strategy.Auto-Calculated Target Zones: Once a pattern is confirmed, the script projects three Fibonacci extension targets ($1.618$, $1.809$, and $2.0$) as color-coded zones on the chart.Smart Cleanup & Invalidation: To keep your chart clean, patterns are automatically removed if the price hits the primary target or breaks the invalidation level (Stop Loss).Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.