123 Setup Fibonnacci Indicator | Forex Factory

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123 Setup Fibonnacci Indicator

  • #1
  • First Post: Oct 9, 2018 9:51am Oct 9, 2018 9:51am
I am looking for a simple 123 setup fibonnaci indicator, as per teh attached chart.
I am using the ZigZag, bit it is so useless and not reliable as often it paints silly lines.

Can anyone help me? Any good indicators out there which you can attach with instructions
THANK YOU
Attached Image (click to enlarge)
Click to Enlarge Name: z98 FIBO.JPG Size: 118 KB
  • #2
  • Oct 9, 2018 4:45pm Oct 9, 2018 4:45pm
Quoting fxguru2010
I am looking for a simple 123 setup fibonnaci indicator, as per teh attached chart. I am using the ZigZag, bit it is so useless and not reliable as often it paints silly lines. Can anyone help me? Any good indicators out there which you can attach with instructions THANK YOU {image}

Well...there is only one realy good and professional 123 indi out there. "Pattern 1 2 3" from Pavel Z.
Has a lot of features and is the only one I would recommend, if you are serious about trading 123 patterns. 30 Bucks only on mql4 dot com.
  • #3
  • Oct 9, 2018 5:00pm Oct 9, 2018 5:00pm
Quoting wolf300
{quote} Well...there is only one realy good and professional 123 indi out there. "Pattern 1 2 3" from Pavel Z. Has a lot of features and is the only one I would recommend, if you are serious about trading 123 patterns. 30 Bucks only on mql4 dot com.
Thank you so much Will be happy to even spend even 300 bucks, tried so many including the zigzag but notgood enough
Thank you mate. May you have a pipful day
  • #4
  • Oct 9, 2018 5:11pm Oct 9, 2018 5:11pm
Quoting fxguru2010
{quote} Thank you so much Will be happy to even spend even 300 bucks, tried so many including the zigzag but notgood enough Thank you mate. May you have a pipful day
No problem, buddy.
But remember, a indi can only indicate, so you got to find the right setup for the zigzag/fib depending on the volatility (bahavior of the pair) and the tf.
So change the settings and observe how it goes before risking your wifes money ;-)
  • #5
  • Oct 9, 2018 5:43pm Oct 9, 2018 5:43pm
Here is your screenshot with the indi.

After the alert, that a up pattern (after 3) has formed, you get a second alert when horizontal line of number 2 is touched or broken (as you like).
5 Fib levels can be drawn and changed as you like. To use as targets. In this case 4 trades, 4 winners possible. Here I used zigzag depth 12 (M5) and my colors.

Attached Image (click to enlarge)
Click to Enlarge Name: example 123.png Size: 42 KB


When the candle, that broke line of number 2, closes, you get an arrow in that direction.

But please remember what I said, a indi can only indicate, the priceaction of the market rules and can erase a nice alert like "up pattern has formed" or "number 2 is touched or broken"
  • #6
  • Oct 10, 2018 9:34am Oct 10, 2018 9:34am
Thank you sir, i ordered the indi
  • #7
  • Oct 10, 2018 10:02am Oct 10, 2018 10:02am
why you need indicator even? just use your eyes it's not that hard
  • #8
  • Oct 10, 2018 11:21am Oct 10, 2018 11:21am
Attached File(s)
File Type: ex4 ZigZagFibo.ex4   5 KB | 1,377 downloads
  • #9
  • Oct 12, 2018 1:27am Oct 12, 2018 1:27am
Quoting JsCave
why you need indicator even? just use your eyes it's not that hard
Agree!
Eyes are better..... but often watching the charts the eyes get tired
so wanted something that can alert you when the 123 happens
  • #10
  • Oct 12, 2018 1:27am Oct 12, 2018 1:27am
Quoting Joeyd
{file}
Thank you
Happy Trading
  • #11
  • Last Post: Oct 12, 2018 2:45am Oct 12, 2018 2:45am
Quoting fxguru2010
{quote} Agree! Eyes are better..... but often watching the charts the eyes get tired so wanted something that can alert you when the 123 happens
Hope you found good settings matching your trading style and found the advantages of this 123 indi !!
If you use supporting indis, to get back into trenddirection, it is better than all other indis I tried over the years.
Eyes and PA are strong, but trading 4 or more pairs is way easier, if you get an alert and click on that pair to see what`s going on.

Post screenshots if you like and we can work together with other 123..ers on a clean, steady strategy.
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