Thanks should go to funyoo who coded the indicator, see
http://www.forexfactory.com/showthread.php?p=4048598
For those who want to learn to trade the 123 pattern this thread is very good
http://www.forexfactory.com/showthread.php?t=250785
PGPB
You are kidding me, right? So, the Great Zam didn’t invent the 1-2-3 system? Now, who is taking credit for what he never did? Maybe one day, perhaps one day, someone will let us in on how the purported Tradewin had been on this forum months ago, and traded by another member. Lol…
You are kidding me, right? So, the Great Zam didn’t invent the 1-2-3 system? Now, who is taking credit for what he never did? Maybe one day, perhaps one day, someone will let us in on how the purported Tradewin had been on this forum months ago, and traded by another member. Lol…
When I want to look back in time for previous 123 patterns I use the ZigZag custom indicator that comes with MT4.
Different depth settings allow me to see many or few 1-2-3 reversal points.
On GBPUSD H1 I like to use a ZigZag depth setting of 6.
This shows me the peaks and valleys that I am interested in.
Attachment 566357
//+-----------------------------------------------------------+
//| MT4 CUSTOM INDICATOR 123Patterns.MQ4 |
//| copy to [experts\indicators] and recompile or restart MT4 |
//+-----------------------------------------------------------+
//| Free software for personal non-commercial use only. |
//| No guarantees are expressed or implied. |
//| Feedback welcome via Forex Factory private message. |
//+-----------------------------------------------------------+
#property copyright "Copyright © 2010 Robert Dee"
#property link "www.forexfactory.com/robdee"
#define INDICATOR_VERSION 20101028 // VERSION 4
#define INDICATOR_NAME "123Patterns"
#define RELEASE_LEVEL "Public"
#define MT4_BUILD 226
#define HOUR 3600.0
#property indicator_chart_window
#property indicator_buffers 7
#property indicator_color1 DodgerBlue // UpperLine
#property indicator_color2 OrangeRed // LowerLine
#property indicator_color3 Lime // Target1
#property indicator_color4 Lime // Target2
#property indicator_color5 DodgerBlue // BuyArrow
#property indicator_color6 OrangeRed // SellArrow
#property indicator_color7 Lime // Dot
#property indicator_width1 1
#property indicator_width2 1
#property indicator_width3 1
#property indicator_width4 1
#property indicator_width5 1 // BuyArrow
#property indicator_width6 1 // SellArrow
#property indicator_width7 1 // Dot
extern string Notes = "GBPUSD,M1 setup by RobDee";
extern int ZigZagDepth = 20;
extern double RetraceDepthMin = 0.4;
extern double RetraceDepthMax = 1.0;
extern double Target1Size = 2.5;
extern double Target2Size = 4.5;
extern bool ShowAllLines = False;
extern bool HideTransitions = True;
// indicator buffers
double UpperLine[];
double LowerLine[];
double Target1[];
double Target2[];
double BuyArrow[];
double SellArrow[];
double Dot[];
double lasthigh, lastlow, prevhigh, prevlow, arrowprice;
datetime lasthightime, lastlowtime, prevhightime, prevlowtime;
int signal;
#define NOSIG 0
#define BUYSIG 1
#define SELLSIG 2
//+------------------------------------------------------------------+
//| Custom indicator initialization function |
//+------------------------------------------------------------------+
int init()
{
int i;
for(i=0; i<=6; i++) SetIndexEmptyValue(i,EMPTY_VALUE);
if(ShowAllLines == True) SetIndexStyle(0,DRAW_LINE); else SetIndexStyle(0,DRAW_NONE);
if(ShowAllLines == True) SetIndexStyle(1,DRAW_LINE); else SetIndexStyle(1,DRAW_NONE);
SetIndexStyle(2,DRAW_LINE);
SetIndexStyle(3,DRAW_LINE);
SetIndexStyle(4,DRAW_ARROW); SetIndexArrow(4,SYMBOL_ARROWUP);
SetIndexStyle(5,DRAW_ARROW); SetIndexArrow(5,SYMBOL_ARROWDOWN);
SetIndexStyle(6,DRAW_ARROW); SetIndexArrow(6,159); // Dot (WingDings character)
SetIndexBuffer(0,UpperLine);
SetIndexBuffer(1,LowerLine);
SetIndexBuffer(2,Target1);
SetIndexBuffer(3,Target2);
SetIndexBuffer(4,BuyArrow);
SetIndexBuffer(5,SellArrow);
SetIndexBuffer(6,Dot);
IndicatorShortName(INDICATOR_NAME);
IndicatorDigits(Digits);
SetIndexLabel(0,"");
SetIndexLabel(1,"");
SetIndexLabel(2,"Target1");
SetIndexLabel(3,"Target2");
SetIndexLabel(4,"BuyArrow");
SetIndexLabel(5,"SellArrow");
SetIndexLabel(6,"");
// cleanup display buffers
for(i=0; i<Bars; i++)
{
UpperLine[i] = EMPTY_VALUE;
LowerLine[i] = EMPTY_VALUE;
Target1[i] = EMPTY_VALUE;
Target2[i] = EMPTY_VALUE;
BuyArrow[i] = EMPTY_VALUE;
SellArrow[i] = EMPTY_VALUE;
Dot[i] = EMPTY_VALUE;
}
// message to the experts log (shows in reverse order)
if(IsTesting() == False)
{
Print("Copyright © 2010 Robert Dee, All Rights Reserved");
Print("Free software for personal non-commercial use only. No guarantees are expressed or implied.");
Print(INDICATOR_NAME+" indicator version V"+INDICATOR_VERSION+" for "+RELEASE_LEVEL+" release, compiled with MetaTrader4 Build "+MT4_BUILD);
}
} // end of init()
//+------------------------------------------------------------------+
//| Custom indicator iteration function |
//+------------------------------------------------------------------+
int start()
{
double zigzag, range, retracedepth;
int shift = WindowFirstVisibleBar();
Target1[shift] = WindowPriceMax();
Target2[shift] = WindowPriceMin();
shift= Bars-1;
while(shift >= 0)
{
// UPPERLINES and LOWERLINES based on ZIGZAG
UpperLine[shift] = UpperLine[shift+1];
LowerLine[shift] = LowerLine[shift+1];
Target1[shift] = Target1[shift+1];
Target2[shift] = Target2[shift+1];
BuyArrow[shift] = 0;
SellArrow[shift] = 0;
Dot[shift] = 0;
zigzag = iCustom(NULL,0,"ZigZag",ZigZagDepth,5,3,0,shift);
if(zigzag == High[shift])
{
UpperLine[shift] = High[shift];
prevhigh = lasthigh;
prevhightime = lasthightime;
lasthigh = zigzag;
lasthightime = Time[shift];
}
if(zigzag == Low[shift])
{
LowerLine[shift] = Low[shift];
prevlow = lastlow;
prevlowtime = lastlowtime;
lastlow = zigzag;
lastlowtime = Time[shift];
}
///////////////////////////
// BULLISH BREAK ABOVE #2
if(lasthigh - prevlow != 0) retracedepth = (lasthigh - lastlow) / (lasthigh - prevlow); // retrace depth
if(signal != BUYSIG)
if(retracedepth > RetraceDepthMin) // minimum retrace depth
if(retracedepth < RetraceDepthMax) // maximum retrace depth
if(Low[shift] < UpperLine[shift])
if(High[shift] > UpperLine[shift])
{
range = UpperLine[shift] - LowerLine[shift];
Target1[shift] = UpperLine[shift]+range*Target1Size;
Target2[shift] = UpperLine[shift]+range*Target2Size;
if(arrowprice != UpperLine[shift]) {BuyArrow[shift] = MathMin(Low[shift+1],Low[shift]); arrowprice = UpperLine[shift];}
Dot[iBarShift(NULL,0,prevlowtime)] = prevlow; // ONE
Dot[iBarShift(NULL,0,lasthightime)] = lasthigh; // TWO
Dot[iBarShift(NULL,0,lastlowtime)] = lastlow; // THREE
signal = BUYSIG;
}
///////////////////////////
// BEARISH BREAK BELOW #2
if(prevhigh - lastlow != 0) retracedepth = (lasthigh - lastlow) / (prevhigh - lastlow); // retrace depth
if(signal != SELLSIG)
if(retracedepth > RetraceDepthMin) // minimum retrace depth
if(retracedepth < RetraceDepthMax) // maximum retrace depth
if(High[shift] > LowerLine[shift])
if(Low[shift] < LowerLine[shift])
{
range = UpperLine[shift] - LowerLine[shift];
Target1[shift] = LowerLine[shift]-range*Target1Size;
Target2[shift] = LowerLine[shift]-range*Target2Size;
if(arrowprice != LowerLine[shift]) {SellArrow[shift] = MathMax(High[shift+1],High[shift]); arrowprice = LowerLine[shift];}
Dot[iBarShift(NULL,0,prevhightime)] = prevhigh; // ONE
Dot[iBarShift(NULL,0,lastlowtime)] = lastlow; // TWO
Dot[iBarShift(NULL,0,lasthightime)] = lasthigh; // THREE
signal = SELLSIG;
}
// HIDE LINE TRANSITIONS
if(HideTransitions == True)
{
if(UpperLine[shift] != UpperLine[shift+1]) UpperLine[shift+1] = EMPTY_VALUE;
if(LowerLine[shift] != LowerLine[shift+1]) LowerLine[shift+1] = EMPTY_VALUE;
if(Target1[shift] != Target1[shift+1]) Target1[shift+1] = EMPTY_VALUE;
if(Target2[shift] != Target2[shift+1]) Target2[shift+1] = EMPTY_VALUE;
}
// TARGET LINE RULES
if(signal == BUYSIG)
{
if(Low[shift] > Target1[shift]) Target1[shift] = EMPTY_VALUE;
if(Low[shift] > Target2[shift]) {Target2[shift] = EMPTY_VALUE; signal = NOSIG;}
if(Low[shift] < LowerLine[shift]) signal = NOSIG;
}
if(signal == SELLSIG)
{
if(High[shift] < Target1[shift]) Target1[shift] = EMPTY_VALUE;
if(High[shift] < Target2[shift]) {Target2[shift] = EMPTY_VALUE; signal = NOSIG;}
if(High[shift] > UpperLine[shift]) signal = NOSIG;
}
shift--; // move ahead one candle
}
///////////////////
// STATUS MESSAGE
if(IsTesting() == False)
{
string msg = INDICATOR_NAME+" ";
msg = msg + TimeToStr(Time[0],TIME_MINUTES)+" ";
msg = msg + "ZigZagDepth="+ZigZagDepth+" ";
msg = msg + "RetraceDepth="+DoubleToStr(RetraceDepthMin,2)+" "+DoubleToStr(RetraceDepthMax,2)+" ";
msg = msg + "Target1="+DoubleToStr(Target1Size,2)+" ";
msg = msg + "Target2="+DoubleToStr(Target2Size,2)+" ";
Comment(msg);
}
}// end of start()
//+------------------------------------------------------------------+
//| Custom indicator deinitialization function |
//+------------------------------------------------------------------+
int deinit()
{
// cleanup display buffers
for(int i=0; i<Bars; i++)
{
UpperLine[i] = EMPTY_VALUE;
LowerLine[i] = EMPTY_VALUE;
Target1[i] = EMPTY_VALUE;
Target2[i] = EMPTY_VALUE;
BuyArrow[i] = EMPTY_VALUE;
SellArrow[i] = EMPTY_VALUE;
Dot[i] = EMPTY_VALUE;
}
Comment("");
}// end of deinit() 
