🔍 "Little Watcher" – Your Smart Swing & XABC Pattern Detection Assistant

📘 1. Overview of the Indicator

The "Little Watcher" is a custom MetaTrader 4 (MT4) indicator designed to identify swing highs and lows while detecting XABC harmonic patterns for potential reversal zones. It helps traders:

Track price swings (short-term and custom-period swings).

Detect XABC patterns (a harmonic trading structure).

Highlight Primary Buy/Sell Zones (PBZ/PSZ) and Maximum Extension (ME) levels.

Works as a non-repainting trend-confirmation tool.

🔹 Key Features:

✔ Dual Swing Detection – Identifies swings based on 1-period (D1) and user-defined periods.

✔ XABC Pattern Recognition – Finds harmonic structures for potential reversals.

✔ Dynamic Support/Resistance Zones – Marks PBZ, PSZ, and ME levels.

✔ Customizable Inputs – Adjustable period, pattern sensitivity, and visual styles.

⚙️ 2. How the Indicator Works

Core Logic:

Swing Detection:

Compares High/Low price movements to determine swing points.

Uses 1-period (D1) and custom-period swings (adjustable via period input).

XABC Pattern Identification:

X → A → B → C structure is detected based on impulse mean calculations.

ME (Maximum Extension) levels are derived from 10% of XA and 20% of AB moves.

PBZ (Primary Buy Zone) & PSZ (Primary Sell Zone) are plotted for entry/exit zones.

Visual Outputs:

OrangeRed Line: 1-period swings (optional).

MediumPurple Line: Custom-period swings.

Red Line: XABC pattern swings.

Aqua Lines: ME, PBZ, PSZ zones.

Interpretation:

If XABC pattern forms: Look for reversals near PBZ/PSZ levels.

ME levels act as profit targets or stop-loss zones.

Swing points confirm trend direction.

🖥️ 3. How to Use / Run the Indicator

Installation Steps:

Copy the .mq4 file into MQL4/Indicators/.

Restart MetaTrader 4.

Attach to chart via Insert → Indicators → Custom → Little watcher.

Best Settings:

Recommended Timeframes: M15, H1, H4, D1 (works on all).

Best Market Conditions: Trending or ranging markets (XABC works well in reversals).

Does it Repaint? No (swings are fixed once formed).

🛠️ 4. Input Parameters & Settings

ParameterDescriptionDefaultRecommended

periodSwing detection period (bars)18Adjust based on volatility (10-30)

show_d1_swingShow 1-period swingsfalseEnable for short-term analysis

XABC_enabledEnable XABC pattern detectiontrueKeep enabled for reversals

XABC_spec_timeForce pattern detection from a specific time0 (disabled)Set for historical analysis

XABC_fontLabel font"Arial"Adjust as needed

XABC_font_sizeLabel size1612-18 for visibility

XABC_font_colorLabel colorAquaCustomize for clarity

XABC_ME_line_colorME/PBZ/PSZ line colorAquaHigh-contrast colors work best

📌 5. Additional Notes

Tips & Warnings:

✅ Combine with:

Moving Averages (MA) for trend confirmation.

RSI/Stochastic for overbought/oversold signals.

⚠ Limitations:

Works best in strong trending markets (choppy markets may give false signals).

Not a standalone system – Use with other confirmations.

Compatibility:

MT4 Only (Not tested on MT5).

🧑💻 6. Developer Info & Source

Developer: R.KH 1001

Website: https://www.robomql.com

Indicator Name: "Little watcher.mq4"

🚀 Final Thoughts

The "Little Watcher" is a powerful swing & harmonic pattern detector, ideal for traders looking for structured reversals with clear entry/exit zones. By fine-tuning the inputs and combining it with other tools, traders can enhance their price action strategy effectively.

Happy Trading! 📈