Free Forex Indicators (MT4), Trend Following Indicators

Forex Pattern 123 Indicator MT4

Forex Pattern 123 Indicator MT4 has an amazing capability to detect high potential price action patterns. It also plots the entry trigger levels and profit targets at the same time in trading charts. All in all, it gives you a complete pattern-based trading solution.

Forex Pattern 1 2 3 Indicator can be a perfect assistant for those who want to trade based on price action patterns but face difficulty finding it because of less time or experience.

Sometimes, even traders manage to spot the pattern but still suffer from confusion about possible trade entry or exit levels.  Forex Pattern 1 2 3 Indicators can work alone to solve all these issues and keep your trading life easier and much more relaxing.

You can apply this indicator for any Forex currency pair and in any timeframe, chart to look for possible pattern trading solutions.

Forex Pattern 123 Indicator Overview:

Once you install and apply this indicator in your MetaTrader trading system, you’ll find your chart below:

Forex Pattern 123 Indicator
Time FrameCurrency PairsIndicator FactorsRatings
M15 to AnyAny49.7/10

Forex Pattern 123 Indicator Anatomy

Forex Pattern 123 Indicator Overview
  • Zig-Zag Lines: This tool indicates the trend direction and scales the length of the momentum. It also assists the indicator to spot the possible price action pattern.
  • Trigger Levels: After the detection of a possible pattern, a Trigger Level is plotted on the chart to signal the entry point. Traders enter their trade in their signaled direction once the price breakouts of this level.
  • Signal Arrow: This arrow confirms the pattern detection and possible direction of upcoming movement with colored arrows pointing up or down.
  • Profit Targets: A set of several target levels are set based on Fibonacci Retracement levels. These Profit Targets are plotted just after Trigger Level and Signal Arrow appear.

Forex Pattern 123 Indicator: Buy Parameters

Forex Pattern 123 Indicator Buy Parameters
  • Zig-Zag Lines upwards
  • Signal Arrow upwards
  • Buy triggers when the price breaks out above the Trigger Level
  • Set Stop Loss below the swing low
  • Determine the Take Profit at your desired Profit Target Levels

Read More: FXOpen Review

Forex Pattern 123 Indicator: Sell Parameters

Forex Pattern 123 Indicator Sell Parameters
  • Zig-Zag Lines downwards
  • Signal Arrow downwards
  • Sell triggers when price breaks out below the Trigger Level
  • Set Stop Loss above the swing high
  • Determine the Take Profit at your desired Profit Target Levels

I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

2 thoughts on “Forex Pattern 123 Indicator MT4”

  1. Somehow, this indicator doesn’t get attached to the chat.

    And yes, I like the way you explain and rate different indicators. Thanks and keep helping us.


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About Trend Following System

Trend Following System's goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money.

Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.
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