The 1-2-3 Reversal Points Pattern Forex indicator for MT4 identifies the best trend reversal points based on the popular 1-2-3 trading pattern.
The indicator is beginner friendly and draws buy and sell arrows on the chart once the bullish or bearish trend reversal pattern has completed.
In essence, you only need to follow the buy and sell arrows.
Indicator explained (bullish example)
- Point 1: low
- Point 2: higher high
- Point 3: most recent low but higher than point 1
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
- Scans for trend reversal
- Based on the 1-2-3 trading pattern
- Price action
- No-lagging indicator
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system as a simple buy/sell trend reversal entry confirmation tool.
Indicator Example Chart
The EUR/USD 5-minute chart below shows the 1-2-3 Reversal Points Pattern indicator in action.
Basic Trading Signals
Signals from the 1-2-3 Reversal Points Pattern indicator for Metatrader 4 are easy to interpret and goes as follows:
- Open a long trade when the blue arrow appears on the chart (bullish trend reversal).
- Place stop loss below the most recent swing low point.
- Take profit at key resistance.
- Open a short trade when the red arrow appears on the chart (bearish trend reversal).
- Place stop loss above the most recent swing high point.
- Take profit at key support.
Download This Forex Indicator
Adjustable Parameters & Settings
Fonts, colors, Gann, alerts
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: works on any time frame
Indicator Type: Trend reversal
How to install the 1-2-3 Reversal Points Pattern indicator in Metatrader 4?
- Copy and paste the 1-2-3 Reversal Points Pattern.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button