Three Drives Harmonic Pattern Indicator MT5 [Free] TFlab

The Three Drives Harmonic Pattern Indicator is a Fibonacci-based chart pattern detection tool available on MetaTrader 5. Similar to the ABCD pattern, this indicator falls within the classic chart pattern and harmonic indicator categories and is used to identify Potential Reversal Zones (PRZ) in both bullish and bearish markets.
This pattern appears when the market forms three symmetrical price movements and two Fibonacci-confirmed corrections, making it a powerful system for technical reversal analysis.

You can download it from this link:
https://cdn.tradingfinder.com/file/3...attern-mt5.zip

You can also access the MetaTrader 4 version of this indicator through this page:
https://www.forexfactory.com/thread/...mt4-free-tflab

For instructions on how to install:
https://www.forexfactory.com/thread/...-in-metatrader




Indicator Specifications
Categories
Support & Resistance – Chart & Classic – Harmonic
Platform
MetaTrader 5
Skill Level
Intermediate
Indicator Type
Reversal
Timeframes
Multi-Timeframe
Trading Style
Intraday
Markets Supported
Forex – Crypto – Stocks – Forward Market – Share Stocks
Bullish Trend Analysis
In a bullish pattern, the market displays three consecutive downward legs separated by upward corrective movements:

1. First move down, followed by a retracement to Point A near the 61.8% Fibonacci level
2. Second downward drive, with another retracement to Point B
3. Final downward leg, typically extending to the 127.2% Fibonacci level of the B correction

Example: On the GBP/USD chart, price forms this structure and reverses at the 127.2% extension zone. This marks a strong Potential Reversal Zone (PRZ) for a bullish trend continuation.
Three Drives Harmonic Pattern in Bullish Scenario (GBP/USD)
Bearish Trend Analysis
In bearish conditions, the pattern consists of three upward legs, each followed by corrective pullbacks:

1. The price initially rises and retraces to Point A at the 61.8% level
2. Then surges again to form Point B, followed by another correction
3. The final upward move ends near the 127.2% extension level, forming the PRZ

Example: In the USD/JPY chart, the price peaks at the final drive and reverses sharply downward from the PRZ, offering a high-confidence sell signal.
Three Drives Harmonic Pattern in Bearish Scenario (USD/JPY)
Indicator Settings
The indicator panel offers full customization to adapt to various trading styles:

1. Minimum Length of Wave (candle) – Minimum candle count for wave structure
2. Num of Previous Candles – Number of past bars analyzed for pattern formation
3. Show Lines – Toggle visual display of harmonic lines
4. BreakPivot – Enables pivot break analysis
5. Original Pivot to Broken Pivot (Pipet) – Set distance for pivot break recognition
6. Shift – Horizontal adjustment of lines
7. BullishPattern / BearishPattern – Activate pattern type detection
8. Style of Line / Width of Line – Customize visual line aesthetics
9. Custom Colors – Set specific colors for bullish/bearish lines and label text

Settings Panel of the Three Drives Harmonic Pattern for MT5
Conclusion
The Three Drives Harmonic Pattern Indicator for MetaTrader 5 is a robust tool rooted in Fibonacci retracement and extension principles. It helps traders recognize reversal points by detecting precise 61.8% / 78.6% corrections and 127.2% / 161.8% extensions.
Once the three drives and two corrective waves are confirmed, the indicator highlights the PRZ—a critical zone for potential trend reversals. With multi-timeframe support, advanced customization, and compatibility across Forex, Crypto, and Stocks, this indicator is ideal for intraday technical traders seeking harmonic-based setups.