One Two Three 123 Pattern Indicator MT4

1-2-3 Pattern Indicator for MetaTrader 4

The 1-2-3 Pattern Indicator for MetaTrader 4 is a sophisticated technical tool designed to identify potential market reversals. It highlights three significant turning points, connecting them with a ZigZag pattern to visually map the price trajectory. Once the formation is complete, the indicator automatically generates Fibonacci retracement levels between the first two points to assist with trade planning.

1-2-3 Pattern Indicator Specifications Table
The following table outlines the main features of the 1-2-3 Pattern Indicator for MetaTrader 4:

Indicator Overview
This indicator assists traders in pinpointing market direction and determining optimal entry and exit zones. After the 1-2-3 pattern is completed during a corrective phase, Fibonacci levels are plotted. These levels serve as guideposts for entering trades, setting profit targets, and placing stop-loss orders—typically positioned near the initial Fibonacci (0) line.

Indicator Behavior in Bullish Trends
During analysis of the EUR/USD on a 1-hour chart, the tool first marks three major pivots using the 1-2-3 framework. A Fibonacci retracement is then drawn from point 1 to point 2 in the bullish leg. Traders may enter long positions at critical levels indicated by the Fibonacci tool, with take-profit points placed beyond the Fibonacci 1 line—offering strategic exits.

Indicator Behavior in Bearish Trends
On a 15-minute chart of the GBP/JPY pair, the indicator tracks the market’s turning points and displays corresponding Fibonacci levels in a downward trend. Short entries are triggered between the 0 and 1 Fibonacci marks, while profit-taking levels are determined at deeper Fibonacci extensions. Stop-losses are placed just above the initial (0) retracement point to manage risk.

1-2-3 Pattern Indicator Settings
Below are the adjustable options provided in the settings interface:

• Pivot Length – Defines the size of each pivot leg
• High Pattern Color – Color setting for upward pattern structure
• High TrendLine Color – Color for the rising trendline
• Low Pattern Color – Color used for downward pattern structure
• Low TrendLine Color – Color for the falling trendline

Conclusion
The 1-2-3 Pattern Indicator for MetaTrader 4 offers a precise approach for identifying market structure around support and resistance zones. It integrates Fibonacci-based levels to guide entry, stop-loss, and take-profit decisions. Whether in a rising or falling market, this indicator enhances risk management and provides clear, strategic zones for trade execution.