TFlab

Three Drive [TradingFinder] 3 Drive Harmonic Pattern Indicator

­čöÁIntroduction

The "Three Drive" pattern is one of the light "RTM" setups suitable for identifying price trend reversals. For this reason, this pattern is considered one of the "Reversal Patterns."

­ččúBullish 3 Drive

At a price bottom, a formation occurs where the negative trend appears to continue, and lower lows are made.

However, the second low penetrates the range of the first low, and the third low penetrates the range of the second low, indicating a decrease in selling pressure and an increase in buying pressure.

Entry point is issued after the penetration of the third low to the second low, and targets are the highs formed in the "3 Drive."


­ččúBearish 3 Drive

At a price top, a formation occurs where the positive trend appears to continue, and higher highs are made.

However, the second high penetrates the range of the first high, and the third high penetrates the range of the second high, indicating a decrease in buyers' strength and an increase in sellers' strength.

Entry point is issued after the penetration of the third high to the second high, and targets are the lows formed in the "3 Drive."


Importance:
This pattern bears a striking resemblance to the some of "Harmonic Pattern" and "Ending Diagonal" in the "Elliott Pattern".


­čöÁHow to Use

There is no need for further confirmation to use this pattern, and you can use it as soon as the pattern forms. However, to reduce errors, it is better to use this pattern when it forms within a "Supply and Demand" or "Support and Resistance" structure.

Bullish 3 Drive in Demand Zone:



Bearish 3 Drive in Supply Zone:



­čöÁSettings

You can set your desired "Pivot Period" via settings for the indicator to identify setups based on it.

Skrypt open-source

Zgodnie z prawdziwym duchem TradingView, autor tego skryptu opublikował go jako open-source, aby traderzy mogli go zrozumieć i zweryfikować. Brawo dla autora! Możesz używać go za darmo, ale ponowne wykorzystanie tego kodu w publikacji jest regulowane przez Dobre Praktyki. Możesz go oznaczyć jako ulubione, aby użyć go na wykresie.

Wy┼é─ůczenie odpowiedzialno┼Ťci

Informacje i publikacje przygotowane przez TradingView lub jego u┼╝ytkownik├│w, prezentowane na tej stronie, nie stanowi─ů rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny by─ç w ten spos├│b traktowane ani wykorzystywane. Wi─Öcej informacji na ten temat znajdziesz w naszym Regulaminie.

Chcesz u┼╝y─ç tego skryptu na wykresie?