PZ Three Drives
Are you a harmonic trader? The Three Drives pattern is a 6-point reversal pattern characterised by a series of higher highs or lower lows that complete at a 127% or 161.8% Fibonacci extension. It signals that the market is exhausted and a reversal can happen.
- Find Three Drives patterns easily
- Learn the basics of harmonic patterns
- Useful to find cheap and expensive zones
- Bullish retracements are blue
- Bearish retracements are red
- Customizable 1-2-3 and 0-A-B ratios (for purists)
- The breakout period for the trade is customizable
- It implements visual/sound/push/mail alerts
Some Nitty-Gritty Details
- The indicator is evaluated every bar, not every tick.
- The last point of the pattern repaints as the pattern expands.
- You can have several indicators on the chart with different amplitudes.
- An alert is displayed when the pattern forms and also when the breakout takes place.
- A small percentage of trading signals can repaint. You can increase the breakout period.
Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.
- Added two different alert events (breakout and patterns)