ZenAlgo - ABC (free)
ABC turns the latest three swing points into a projected Fibonacci roadmap. It is useful when you can identify an impulse, a pullback, and want a consistent way to estimate where the next leg may react or finish.
How to read it
The indicator finds three alternating pivots: X begins the impulse, A ends it, and B is the pullback. It measures the distance from X to A and projects that distance from B.
In a bullish setup, projected levels sit above B. In a bearish setup, they sit below B. Automatic anchors follow confirmed pivots; manual anchors let you define X, A, and B yourself when you want to study a specific move.
Treat the projections as areas where a reaction is plausible, not as automatic entries or guaranteed targets. The setup becomes more useful when a projected level agrees with market structure, volume, or another independently derived level.
Lines, zones, and labels
| Visual | Meaning |
|---|---|
| BASE / 0.0 | Projection starts at B |
| ENTRY / 0.146 | First shallow projection |
| TP1-TP4 / 0.236-0.65 | Early projected objectives |
| Golden Pocket / 0.618-0.65 | Highlighted Fibonacci reaction zone |
| 0.786 | Deep projection before the full measured move |
| Target zone / 1.0-1.272 | Full measured move and first extension |
| 1.618-3.618 | Extended objectives for unusually strong continuation |
You can show numeric ratios or names such as TP1 and Target. The boxes emphasize the Golden Pocket, target zone, and extended area; their presence does not change the underlying calculation.
A practical workflow
First check whether X-A is a meaningful impulse and B is a credible pullback. Then use the nearest projection as a place to manage the trade or watch for a reaction. If price invalidates B or the surrounding structure, recalculate the idea instead of forcing the old map to fit.
Alerts
ABC currently has no built-in alert conditions. Its lines, labels, and zones are visual planning tools. To receive a notification, place a manual TradingView price alert on the projection that matters to your plan.
Get ABC
Open the public script on TradingView or get permanent access through ZenAlgo: