One Two Three 123 Pattern Indicator MT5
- Indicatori
- Eda Kaya
- Versione: 1.3
1-2-3 Pattern Indicator for MetaTrader 5
The 1-2-3 Pattern Indicator for MetaTrader 5 is a strategic analytical tool designed to pinpoint potential reversal zones in the financial markets. This indicator automatically identifies three significant swing points, forming a ZigZag structure that outlines the price path and calculates Fibonacci levels based on those decisive pivots.
«Indicator Installation & User Guide»
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1-2-3 Pattern Indicator Specifications
The following table outlines the essential specifications of the 1-2-3 Pattern Indicator:
Category | Price Action - Fibonacci Zones - Trade Setup |
Platform | MetaTrader 5 |
Skill Level | Intermediate Users |
Indicator Type | Trend Reversal - Trend Continuation - Range Bound |
Timeframe | Supports All Timeframes |
Trading Style | Scalping - Intraday Trading |
Trading Markets | Forex - Crypto - Stock Markets |
Overview of the Indicator
The 1-2-3 Pattern Indicator offers traders an edge in identifying high-probability zones for market entry and profit-taking. By integrating Fibonacci levels into its structure, the tool helps define price targets and optimize trade planning. Stop-loss placements are recommended near the 0% Fibonacci level, reinforcing disciplined risk management.
Bullish Market Setup
In an uptrend scenario, such as on the USD/CAD H1 chart, the tool highlights the first two higher lows, mapping out a bullish Fibonacci sequence. Traders may initiate buy positions within the range between level 0 and level 1, using the projection levels as targets based on trend continuation logic.
Bearish Market Setup
For downtrend conditions, once three lower highs are established, the indicator generates a Fibonacci retracement structure using the first two pivots. A sell setup can be planned between the 0 to 1 level range, while the stop-loss is ideally placed above the 0 Fibonacci level, serving as a buffer against price pullbacks.
Settings and Customization
Below are the adjustable input options available within the indicator’s parameters:
- Pivot Length – Controls the number of bars used to define each pivot point
- High Pattern Color – Assigns color to the upper pivot structures
- High Trend Line Color – Sets the visual color of trend lines in bullish scenarios
- Low Pattern Color – Applies color to bearish pivot formations
- Low Trend Line Color – Sets the trend line color for downtrend visualizations
Conclusion
The 1-2-3 Pattern Indicator for MetaTrader 5 is a powerful addition to any trader’s toolkit, particularly for those focused on structure-based strategies. By improving the precision of entry/exit points and integrating effective risk controls, it helps enhance decision-making and reduce exposure to unnecessary losses.