Show 123 Pattern Indicator for MetaTrader 4 – Free- [TFlab]

The Show 123 Indicator MT4 is a technical analysis tool derived from the classic 3-2-1 price pattern, widely recognized as one of the most reliable structures for identifying trend reversals and breakout opportunities in financial markets.
By utilizing an algorithm comparable to the ZigZag indicator, this indicator detects recent market swing highs and swing lows and automatically labels them as Point 1, Point 2, and Point 3, providing traders with a clear and structured market framework.

You can download it from this link:

https://cdn.tradingfinder.com/file/6...4-by-tflab.zip

You can also access the MetaTrader 5 version of this Indicator through this page:

https://www.forexfactory.com/thread/...r-metatrader-5

For instructions on how to install:

https://www.forexfactory.com/thread/...-in-metatrader

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Show 123 Indicator Overview
The Show 123 Indicator for MetaTrader 4 (MT4) is designed to assist traders in forecasting potential changes in market direction across various asset classes, including Forex, cryptocurrencies, and stock markets.
Unlike traditional ZigZag tools that merely display price fluctuations, the Show 123 Indicator highlights a functional price structure that can be used to locate high-probability trigger points.

Core Identification Logic

1. Point 1
   Represents the beginning of the current market wave, formed at a recent swing high or swing low.
2. Point 2
   Marks the end of the initial corrective move and defines a key structural level that often acts as resistance or support.
3. Point 3
   Indicates the second corrective phase and serves as a potential breakout or reversal confirmation zone.

A decisive break of Point 2 after the formation of Point 3 often signals a shift in market momentum.

Indicator Classification and Usage Scope

Indicator Categories

1. Signal & Forecast MT4 Indicators
2. Trading Assist MT4 Indicators
3. Chart & Classic MT4 Indicators

Platform Compatibility

1. MetaTrader 4 (MT4)

Skill Level

1. Intermediate traders

Indicator Type

1. Reversal and Breakout Indicator

Supported Timeframes

1. Multi-Timeframe Analysis

Trading Styles

1. Intraday Trading

Supported Markets

1. Forex Market
2. Cryptocurrency Market
3. Stock Market

Show 123 Indicator in an Uptrend
On an upward market structure, the Show 123 Indicator identifies and marks three sequential points in green, illustrating bullish continuation or reversal potential.

Uptrend Structure Explanation

1. Point 1 forms at a recent market low and initiates bullish movement.
2. Point 2 represents the peak of the first corrective wave and acts as temporary resistance.
3. Point 3 forms above Point 1, signaling reduced selling pressure and strengthening buyer dominance.

A buy signal is confirmed after the close of a bullish candle following Point 3, indicating a potential continuation of the upward trend.

Show 123 Indicator in a Downtrend
In a bearish market environment, the indicator highlights the 1-2-3 pattern in red, allowing traders to recognize weakness in demand and possible continuation of the downtrend.

Downtrend Structure Explanation

1. Point 1 forms at a significant market high.
2. Point 2 marks the low of the first corrective decline.
3. Point 3 represents a temporary upward retracement that remains below Point 1, confirming bearish control.

A sell signal is generated when price action confirms rejection after Point 3 and breaks below the critical structural level.

Show 123 Indicator Settings in MT4
The Show 123 Indicator provides adjustable parameters to align with different trading strategies and market conditions.

Available Input Parameters

1. MaxBars
   Defines the maximum number of historical candles processed by the indicator.
2. Aggression
   Controls the sensitivity of swing point detection.
3. FontName
   Specifies the font used for labeling points on the chart.
4. FontSize
   Adjusts the size of numerical labels.
5. PipTextHeight
   Determines the vertical spacing of text displayed on the chart.

Conclusion
The Show 123 Pattern Indicator is a precision-focused technical tool that simplifies market structure analysis by identifying key swing points and breakout levels.

1. In uptrends, a confirmed break above Point 2 following a higher low at Point 3 reflects growing buyer strength.
2. In downtrends, the formation of a lower high and subsequent break validates sustained selling pressure.

By combining structural clarity with practical breakout logic, the Show 123 Indicator serves as a valuable asset for traders seeking reliable trend reversal and continuation signals in MT4.