Hello Traders,

For a few months I have been getting requests from my followers about ABC pattern and finally I decided to make this indicator.

How it works?

• It creates Trend Cloud using Simple and Exponential moving averages with the lenghts 50, 100, 150, 200, 20, 40 by default and checks the trend. you can change the lengths as you wish
• It also creates ZigZag using the ZigZag Period in the options.
• Using last 2 zigzag waves it checks if there is suitable ABC pattern according the Trend, the Min/Max Fibonacci levels and Error Rate
• Then it check if the price bounces after this ABC pattern
• And if all these conditions met then it plot triangle
• If there are multiple bouncing then you can see multiple triangles

You can change/set;

• Zigzag Period
• Fibonacci Max level
• Fibonacci Min Level
• Error Rate
• The Lengths that are used for Moving Averages
• Keeping old ABC lines/labels
• Show Zigzag and min/max Fibonacci levels
• Show Trend Cloud
• and colors

backtest