{"id":611,"date":"2018-08-13T21:08:32","date_gmt":"2018-08-13T21:08:32","guid":{"rendered":"http:\/\/patternsmart.com\/wp\/?p=611"},"modified":"2018-08-13T21:08:32","modified_gmt":"2018-08-13T21:08:32","slug":"m-shape-bullish-xabcd-5-point-chart-pattern-indicator-for-ninjatrader-nt8","status":"publish","type":"post","link":"https:\/\/patternsmart.com\/wp\/m-shape-bullish-xabcd-5-point-chart-pattern-indicator-for-ninjatrader-nt8\/","title":{"rendered":"M shape bullish XABCD 5-point chart pattern indicator for Ninjatrader NT8"},"content":{"rendered":"

XABCD 5-point chart patterns are very common and popular in technical analysis, some of them have already been named, such as Gartley, Butterfly, Bat, Crab, Shark and Cypher.<\/span><\/span><\/p>\n

As the name suggests, XABCD pattern has 5 points and 4 legs formed by those 5 points. The concept of XABCD 5-point pattern is to compare the retracement level between legs. For example, when you see AB makes a 0.382 or 38.2% Fibonacci retracement of the X-A leg or XA, it means that the price difference from point A to B is equal to 38.2% of the price difference from point X to A.<\/span><\/span><\/p>\n

If we use a formular to represent the relation, it will be: (B-A)=0.382*(X-A);<\/span><\/span><\/p>\n

This indicator is able to detect and highlight any Bullish M shape <\/b><\/span>XABCD 5-point chart pattern based on your pre-defined settings, and plots the fibonacci retracement automatically.<\/span><\/span><\/p>\n

 <\/p>\n

<\/a><\/p>\n

The following video shows how it plots in realtime.<\/span><\/span><\/p>\n