Three Drivers Harmonic Pattern Indicator MT4 - Free Download | Forex Indicators Download - MetaTrader 4 Resource

On July 2, 2025, in version 2, the indicator added alerts/notifications and signals functionality

The Three Drivers Harmonic Pattern indicator has similarities to the ABCD pattern and is a classic chart pattern indicator . This trading tool is designed to identify Potential Reversal Zones (PRZ) and is considered to be part of the MetaTrader 4 indicator .

This pattern can form in two situations: bullish and bearish conditions:

• In a bullish trend , the three main moves are downward , indicating a potential price reversal to the upside .
• In a bearish trend , the price forms three major upward moves , suggesting a potential price reversal to the downside .

Three drive harmonic mode indicator table

The following table provides details on the three-drive harmonic mode indicators.

Bullish trend analysis

In the Solana (SOL) cryptocurrency chart, price initially moved downward , followed by an upward correction , reaching Point A at the Fibonacci 61.8% level of the first move.

This level acts as a resistance zone , causing the price to reverse downward . Upon completion of the corrective move at Point B , price extends to the 127.2% level B correction. This area is considered the Strong Reversal Zone (PRZ) .

Bearish trend analysis

In the analysis of the USD/JPY currency pair , price initially moves upward , then corrects downward to Point A , retracing 61.8% of the initial move . After this, the price increases and reaches Point B.

Finally, price action headed downward and fell to the 127.2% Fibonacci extension level B correction. Traders execute sell trades in this zone.

Indicator Settings

The indicator settings are as shown below:

• Minimum Wave Length (Candles): Determines the number of candles required to form a wave
• Number of previous candles: Specifies the number of previous candles used for analysis.
• Show Lines: Turn on or off the display of lines
• Break Pivot: Analysis showing pivot breaks
• Original Pivot to Broken Pivot (Pipette): Sets the pivot break distance in pipettes
• Shift: adjust the displacement of the lines on the chart
• Bullish Pattern: Enables the display of bullish patterns
• Bearish Pattern: Enables the display of bearish patterns
• Style of Line: Determine the style of the line
• Width of Line: Specify the thickness of the line
• Custom Color Line (Bearish Harmonic): Set the color of the Bearish Harmonic line
• Custom Color Line (Bullish Harmonic): Set the color of the Bullish Harmonic line
• Custom text color: Personalized text color

Conclusion

Harmonic patterns inspire the Triple Drive Harmonic Pattern Indicator . It is based on price movements and Fibonacci retracement ratios , targeting the 61.8% and 127.2% levels .

This indicator allows effective technical analysis as it can display both bullish (uptrend) and bearish (downtrend) patterns. Key features include customizable line settings , price levels , and themes and colors .