With all the talk about 123 Patterns and 123 Reversals how about a Ninjatrader indicator that projects the final pivot much like the PAS indicator plots the C pivot with a shaded area?

Instead of a Fib retracement the treshold would be based on the high and low relationship of bars 1 and 2. This area would show the high and low potential of bar 3 to, for example do either of the following...

In an uptrend...
Close higher for continuation or...
Close lower for a reversal.

I'm guessing the amount of bars could be user definable so to also track 123 price patterns using ZigZag theory???

Perhaps this could be added to Dorschen's Zig Zag indicator?

Any willing programmers/math wizards out there?

I'm sure I'm not the only one who would really appreciate this!!!
Thank you very much for your consideration.

 

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Mike