Three Drives 6.0
Metatrader Indicator (MT4/MT5)
The Three Drives pattern is a 6-point reversal pattern characterised by a series of higher highs or lower lows that complete at a 127% or 161.8% Fibonacci extension. It signals that the market is exhausted and a reversal can happen.
- Find three drives patterns easily
- Learn the basics of harmonacci patterns
- Useful to find cheap and expensive zones
- Customizable 1-2-3 and 0-A-B ratios (for purists)
- It implements visual/sound/push/mail alerts
Three Drives patterns can expand/repaint quite a bit. To make things easier this indicator implements a twist: it waits for a donchian breakout in the right direction before signaling the trade. The end result is an otherwise repainting indicator with a very reliable trading signal.
- Bullish retracements are blue
- Bearish retracements are red
- The breakout period for the trade is customizable
- ? FAQ
- Does the indicator repaint?
- Yes, point three has to repaint as the pattern expands.
- How can I confirm trades?
- The Three Drives pattern can be confirmed with support and resistance lines, RSI, price action, supply and demand, bollinger bands... your imagination is the limit.
- Does the indicator implement alerts?
- Yes, it does.
- ✎ Comments
Keep comments tidy and respectful. Avoid spam, offensive remarks, self-promotion and posting personal or payment information. The comment section is for discussion and questions only. Please note that we'll never solicit payments in the comments section.