Harmonic abcd bull setup event
A frequent setup marker: the third touch of a low-high-low sequence at the edges of the last 100 closes.
Watches the highest and lowest closes of the last 100 bars and runs a four-step cycle on them. It waits for a close within 0.3% of the low, then of the high, then of the low again, and the marker fires on that third touch. The fourth touch, back at the high, restarts the cycle silently, and no step has a time limit or any check on the size or shape of the moves between touches.
How to read it
- Each marker sits on the candle where the close returns within 0.3% of the 100-bar low, after a high touch that followed an earlier low touch.
- Near the high means within 0.3% below the 100-bar high. A marker says price is back at the low edge of its range, nothing about the direction of the next move.
- Markers are common at defaults, about one bar in five on SPY, so read them as sequence states, not isolated calls.
- No marker shows the completing high touch, so an open cycle can sit unresolved with no time limit.
What it outputs
- Setup marker
- Fires once per cycle on the third touch: a close back within 0.3% of the 100-bar low, after a low and a high touch. The completing high touch draws nothing.
When it fires
When the close returns to within 0.3% of the 100-bar low after a low touch and then a high touch. This is the third point of the cycle: the setup has formed and waits for a high touch, which is not drawn, so it is not a confirmed completion.
Settings
- tol
- No effect. The function takes tol but never reads it; the match tolerance is fixed at 0.3% in the source, so any value leaves the chart unchanged.
Pitfalls
- The tol setting does nothing. The code takes it but never reads it, so every value draws the same chart.
- The name says bull, but nothing checks trend, slope or direction. The same low-high-low-high touches fire in a downtrend, and an unfinished cycle can wait indefinitely.
- At defaults it fires about 189 times a day on SPY one-minute bars, September 2026. The sample shows how often it fires, not whether the markers led to any move.