Show 123 Indicator for MT4
The Show 123 Indicator for MetaTrader 4 (MT4) is a technical analysis tool based on the well-known 1-2-3 price pattern, one of the most dependable structures for identifying trend reversals and breakout formations in financial markets.Employing a calculation logic similar to the ZigZag indicator, the Show 123 Indicator automatically detects recent swing highs and swing lows, labeling them as Point 1, Point 2, and Point 3. This structured approach enables traders to clearly recognize market waves and anticipate potential momentum shifts with greater accuracy.
Show 123 Indicator Table
Show 123 Indicator Specifications | Details |
Indicator Categories | Signal & Forecast MT4 IndicatorsTrading Assist MT4 IndicatorsChart & Classic MT4 Indicators |
Platform | MetaTrader 4 (MT4) |
Skill Level | Intermediate |
Indicator Type | Reversal Indicator |
Timeframe Compatibility | Multi-Timeframe |
Trading Style | Intraday Trading |
Supported Markets | ForexCryptocurrenciesStock Market |
Download Link |
Show 123 Indicator Overview
The Show 123 Indicator is designed to identify critical market turning points and breakout zones by analyzing price structure in a three-stage sequence:· Point 1: The beginning of the dominant price wave, typically a recent swing high or low
· Point 2: The completion of the first corrective movement, signaling a temporary shift in momentum
· Point 3: The second corrective phase, where a potential breakout or trend reversal may occur
Unlike the traditional ZigZag indicator—which merely plots price fluctuations—the Show 123 Indicator highlights a Trigger Level. A decisive break above or below Point 2 often confirms a meaningful change in market direction.
Bullish Market Structure
On the EUR/USD 30-minute chart, the indicator identifies a bullish 1-2-3 structure and marks it in green:· Point 1: Forms at a recent market low, initiating upward momentum
· Point 2: Marks the peak of the first correction and acts as short-term resistance
· Point 3: Represents a pullback that remains above Point 1, indicating weakening selling pressure
A buy entry signal is generated once a bullish candle closes at or near Point 3, confirming buyer dominance and the likelihood of trend continuation.
Bearish Market Structure
On the Ripple (XRP) 1-hour chart, the Show 123 Indicator highlights a bearish structure using red markers:· Point 1: Appears at the market’s recent high
· Point 2: Forms at the low of the initial corrective decline
· Point 3: Signals a minor upward retracement that remains below Point 1, reflecting weak buying interest
A sell signal is confirmed when price fails to reclaim Point 1 and momentum shifts lower, validating the bearish trend setup.
Show 123 Indicator Settings
The indicator provides adjustable parameters to tailor its behavior to different market conditions and trading preferences:· Maxbars: Maximum number of historical candles processed
· Aggression: Sensitivity level for detecting swing points
· Fontname: Font used for displaying point numbers
· Fontsize: Size of the numerical labels
· PipTextHeight: Vertical spacing of text labels on the chart
These options allow traders to optimize clarity and signal responsiveness.
Conclusion
The Show 123 Indicator for MT4 is a precise and structured technical tool that simplifies the identification of trend reversals and breakout opportunities through the classic three-point price pattern.In bullish conditions, a successful break above Point 2 after forming a higher low confirms buyer strength, while in bearish scenarios, a failure below the same level with a lower high signals weakening demand. When used alongside other technical tools, the Show 123 Indicator can significantly enhance trade timing and market analysis accuracy.
