1-2-3 Pattern Indicator Download for MetaTrader 5 - Free - [TFlab] - MT4/MT5 Resources

The 1-2-3 Pattern indicator is one of the MetaTrader 5 indicator that can be used to identify reversal points.

This tool detects three key pivots and draws ZigZag Lines , clearly showing price movement trends and generating Fibonacci Levels based on key points.

1-2-3 Mode indicator specification table

The following table lists the features of this function 1-2-3 mode indicator.

Indicators at a glance

The 1-2-3 pattern indicator determines entry and exit areas for trades.

Traders can rely on Fibonacci levels to find the best entry points.

This method determines price targets using Fibonacci points , while the stop-loss is placed near the zero Fibonacci level .

Indicators are in an upward trend

Based on the USD/CAD currency pair chart, two ascending points are automatically plotted on the first two pivots after identifying the three main pivots using this indicator.

Traders can enter a buy position between levels 0 and 1 , using Fibonacci levels as price targets.

Indicators are in a downward trend

After detecting three main pivots in a downtrend, the Fibonacci indicator draws a Fibonacci falling retracement on the first two points .

Depending on their trading strategy, traders can place stop loss levels above the zero zone and enter sell positions between 0 and 1 Fibonacci levels.

Indicator Settings

The setting of 1-2-3 morphological indicators is shown in the figure below:

• Pivot Length: Pivot length
• High Pattern Color: High pattern color
• High trend line color: High trend line color
• Low Pattern Color: Low pattern color
• Low trend line color: Low trend line color

Conclusion

This Risk Management MT5 Indicator [1-2-3 Pattern] , with its simple yet effective structure , is used for trend reversal detection and is recognized as a tool suitable for traders of all levels .

This indicator improves analysis accuracy and reduces trade risk by identifying entry and exit points.