FXCM Forex Trading

Pattern 1-2-3

Here you can post and download custom indicators. PLEASE: Do not start topics unless you are posting your own indicator, they will be moved to appropriate section even if you do.

Moderator: admin

Pattern 1-2-3

Postby Alexander.Gettinger » Tue Dec 07, 2010 4:14 am

1-2-3 pattern - known reversal market pattern.

123.png


Down pattern:
After maximum 1 follows minimum 2 and maximum 3 (more low than 1).
Up pattern:
After minimum 1 follows maximum 2 and minimum 3 (more high than 1).

For identification minimums and maximums used advanced fractals (viewtopic.php?f=17&t=724).

Pattern123.png


Download:
Pattern123.lua
(4.83 KiB) Downloaded 1463 times
Alexander.Gettinger
FXCodeBase: Confirmed User
 
Posts: 1935
Joined: Wed Mar 31, 2010 9:40 pm
Location: Russia, Omsk

Re: Pattern 1-2-3

Postby dlouisbriggs » Sun Dec 12, 2010 11:34 am

In practical application I have found the use of high/low pricing to be erratic when price shocks occur. I believe the pattern would prove more predictive if the the Regression Line indicator (set at 2 periods) were to be utilized for the identification of the pattern. Would it be possible to get a version of this pattern using the Regression Line pricing instead?
dlouisbriggs
 
Posts: 16
Joined: Thu Nov 11, 2010 10:00 am


Return to Custom Indicators

Who is online

Users browsing this forum: No registered users and 7 guests