PZ ABCD Retracement Indicator, Ultimate ABCD Pattern Scanner
The PZ ABCD retracement indicator for MT4 looks for the ABCD chart pattern and provides buy and sell recommendations to forex traders.
- Description
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- Indicator Settings
Description
The PZ ABCD retracement indicator for MT4 automatically looks for the ABCD chart pattern in the forex price charts and sends out an arrow trading signal to the trader. Based on pre-established wave ratios, the indicator offers bullish and bearish arrow trading indications, which traders can further alter to suit their needs. Thus, forex traders may effectively recognize the pattern and use it to BUY and SELL.
The indicator performs admirably on daily, weekly, and monthly price charts as well as on intraday price charts. Additionally, both novice and experienced forex traders can benefit from the indicator. While experienced traders can create intricate trading plans and use auto trading systems, novice traders can swiftly recognize and trade the trend. The indicator can also be downloaded and installed for free.
For MT4 Trading Signals, the PZ ABCD Retracement Indicator
The PZ ABCD retracement indicator for MT4 is visible in action on the AUDUSD, H1 price chart above. Additionally, the indicator displays Light Blue arrow trade signals and bullish waves. The arrow trading signals and bearish waves are also salmon in color. Additionally, the indicator’s settings enable technical forex traders to alter the AB and CD wave ratio input.
An uptrend is indicated when the blue up arrow trading signal appears. As a result, forex traders ought to join the market with a stop loss below the previous swing low and a BUY position. The CD wave’s closure is typically the greatest time to take a profit. However, traders who have a good risk to reward ratio can try to book profit.
Likewise, the indicator shows a down arrow indication that is salmon in color, signifying the start of a downward trend. Forex traders should therefore set a stop loss above the last swing high and execute a SELL trade. However, traders might book profits at the end of the CD wave and follow the ABCD wave.
Conclusion
It is true that the PZ ABCD retracement indicator for MT4 facilitates the trader’s automatic chart scanning. Consequently, the trader may concentrate on using the approach to make money. Additionally, the indicator is simple for forex traders to download and implement.
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Amplitude: Sets the wave’s height or strength.
BreakoutPeriod: Defines the number of bars used to detect breakout patterns.
MaxHistoryBars: Specifies how many past bars are analyzed to identify patterns.
BullWave: Sets the color for bullish (upward) waves.
BearWave: Sets the color for bearish (downward) waves.
WaveSize: Determines the length of each wave.
DisplayPoints: Toggles the visibility of wave points.
BearLabel: Specifies the color of the label for bearish waves.
BullLabel: Specifies the color of the label for bullish waves.
LabelFontSize: Sets the font size for wave labels.
DisplayRatios: Enables the display of wave ratio values.
RatioLabel: Sets the color for ratio labels.
RatioFontSize: Defines the font size for ratio text.
RatioLine: Sets the thickness of the lines used in ratio visualization.
Min_AC: Minimum allowed value for the AC wave ratio.
Max_AC: Maximum allowed value for the AC wave ratio.
MinBD: Minimum allowed value for the BD wave ratio.
Max_BD: Maximum allowed value for the BD wave ratio.
AB_Equals_CD: Enables detection of AB=CD harmonic patterns.
BreakoutsEnabled: Turns on breakout pattern detection.
BuyArrow: Color of the buy signal arrow.
SellArrow: Color of the sell signal arrow.
ArrowSize: Specifies the size of the trade signal arrows.
Alert on breakouts: Enables alerts when breakout patterns occur.
Alert on patterns: Enables alerts for newly detected patterns.
Pop Up alerts: Activates on-screen pop-up notifications.
Email alerts: Sends pattern alerts via email.
Push alerts: Delivers alerts to mobile devices.
Sound alerts: Plays an audio alert when a pattern is detected.
Sound file: Selects the audio file used for sound alerts.
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