may occur, in this case the .
When A, B, C are valid, the script will plot 2 lines between A-B and B-C, together with
2 white arrows,,where D MUST be in the future to become a valid .
First of all, D MUST be a , after which D must lay between D- and D+
In a example D- is the minimal value of D, D+ the maximum value of D.
In a example D- is the maximum value of D, D+ the minimum value of D,
either way, D must be between these 2 lines.
Since we don't know when the next possible will occur, the white arrows
won't predict where it will happen, it just shows the max and min value.
If it doesn't become a valid , the lines just stay that way, when a valid
occurs, more lines will be plotted, together with the Targets.
Do mind, the script adds a lot of lines, since there is a maximum of lines, only the last ones will
be plotted, the rest can be made visible by using the "Replay" button
Also, the script measures , it is not always perfect, do your own research and
see for yourself if a valid pattern is also valid for you!
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.
Here we see A, B & C, but where must D be to get a valid ABCD pattern?
Hope this helps!