The 123 patterns V7 indicator MT4 is a technical indicator that forms three price movements that create the 1,2, and 3 indications. This pattern helps to reveal trend reversal and potential breakout in bearish and bullish markets.
The above EURO USD chart shows the 123 patterns in working. The chart shows blue and red lines, which indicate bullish and bearish trends, respectively. The 123 patterns are visible after a recent high or recent low.
Uses of 123 Patterns V7 indicator
This indicator is known as reversal and breakout pattern. You can use this and other price action indicators to determine potential trends that can make a crucial reversal. The 123 patterns help you in trade management and playing breakout trades.
How to Trade With the 123 Pattern?
The 123 patterns identify that when the trend or momentum is potentially helpful for most trading strategies.
Inputs to 123 patterns V7
The following table shows the input table. You can change the default settings from the input tab. Experiment with the settings and parameters to fit your personal preferencesDownload indicator