Interactive ABC Harmonic Retracement and Projection Ranges

Summary

This indicator helps traders inspect a three-point ABC price swing through harmonic ratios. The user selects the timestamps for points A, B, and C; the script retrieves prices at those times, determines the swing direction, and compares the BC move with the AB move. It classifies the ratio as a retracement or projection and checks it against predefined ratio bands drawn from harmonic trading conventions.

When a ratio falls within a supported band, the indicator calculates corresponding price boundaries and displays the pattern, range, direction, and ratio in chart labels and a table. Users can adjust the final projection threshold, label style, table display, and helper overlays. The document provides implementation details and ratio thresholds, but no backtest, trade outcomes, or evidence that these patterns predict profitable moves. Its output is a visual analysis aid; the user must choose the points and evaluate the signal in market context.

Key ideas

• The indicator compares the BC price movement with the AB movement to classify an ABC swing ratio.
• It distinguishes retracement bands from projection bands and supports a configurable upper projection threshold.
• When a ratio matches a band, the script plots price boundaries derived from the selected swing points.
• Users select the three timestamps manually and can customize labels, colors, and table display.
• The document describes calculations and visualization but supplies no performance evidence.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.