1-2-3 Pattern

The 1-2-3 Pattern indicator is a trading system for the MT4 platforms designed with the 1-2-3 pattern indicator and the Fibonacci levels to detect the trend direction of the market.

The 1-2-3 pattern signals the potential end of a trend, which is detected by the zig-zag tool. On the other hand, the Fibonacci levels also show the trend reversal zones for a possible change in the direction of the trend. Furthermore, it also displays the ideal entry/exit zones.

Features of the Indicator

This 1-2-3 pattern indicator stands out as one of the best versions because it uses the Fib levels along with the 1-2-3 pattern analyzer to deliver an accurate technical analysis of the market’s trend. In other words, the indicator uses two trend reversal confluences to determine the end and possible new direction of the trend.

This makes sense because the Fib levels are essentially support/resistible zones for trend reversal, while the Zig-zag tool also detects the end of the trend.

Furthermore, the indicator delivers great results identifying a trend reversal and continuation setup, regardless of the market trend condition (trending or ranging). Besides, it also does not repaint, which makes it more reliable for trading.

Benefits of the Indicator

a) Zig-Zag and the Fibonacci retracement tool: The synergy of the Zig-zag tool and the Fib level makes the indicator deliver more credible buy/sell signals with their respective entries/exits.

b) Optimal entries/exit zones: The indicator was designed to read the price action of the market and delivers precise entry/exit zones. This makes it a user-friendly trading indicator recommended for newbies and advanced forex traders.

c) Price Target: The indicator also comes with a feature that enables it to display the suitable level to exit a trade. Again, this makes it convenient for newbies and advanced forex traders to identify an optimal zone to exit a trade.

Indicator Settings Description

The indicator comes with the following customizable settings:

• Period: This shows the period for trend analysis.
• Line width: This defines the width of the lines.
• Hi_Low_Mode: This shows the high/low mode of the indicator’s line.
• Fib_Mode: This shows the Fib mode in use.
• Enable_Target: This enables/disables the indicator to display the price target line.
• Fib_Target: This determines the Fib levels in use.
• Pattern_High: This assigns a color to show the price-high pattern.
• Trade line_High: This defines the color to show a trade line high.
• Pattern_Low: This assigns a color to show the price-low pattern.
• Trade line_Low: This defines the color to show a trade line low.
• Fib: This parameter determines the color of the Fibonacci line.