The 1 2 3 Pattern Scanner

Overview of the 1 2 3 Pattern Scanner

The 1 2 3 Pattern Scanner is a highly efficient tool designed to identify the 1-2-3 pattern in financial markets. This pattern is a common indicator of trend reversals and is useful for traders looking to capitalize on market movements. The scanner is equipped with a range of features that make it user-friendly and effective in various trading scenarios.

Main Features

• Special Enhanced Algorithm: The scanner uses a unique algorithm to detect the most successful patterns in trends, swings, and breakouts.
• Multi-Asset Compatibility: It can scan Forex, Crypto, Indices, and Commodities.
• Time Frame Flexibility: Users can select and deselect time frames for scanning, including M1, M5, M15, M30, H1, H4, D1, W1, and MN.
• Notification System: The scanner provides alerts and push notifications for stop-loss, entry-point, and take-profit levels.
• Risk Management: The tool includes a risk-to-reward ratio of 1:2, helping traders manage their risk effectively.

Input Parameters

• Scan All Charts: Enables scanning across all charts.
• Scan Number of Candles: Determines the amount of historical bars to evaluate.
• Rescan Timer: Rescans all charts and time frames after a specified time interval.
• Pattern Method: Choose between breakout (after point 2) or pattern (at point 3).

Pattern Features

• Algorithm Parameters: Period, Deviation, and Backstep settings for pattern recognition.
• Error Rate: Maximum allowable error relative to pattern percentage.
• Wing Length: Minimum distance between two legs in a pattern.

Display and Style Options

• Display Options: Choose whether to display TP&SL levels.
• Customization: Set fonts and colors for patterns, stop-loss, and take-profit levels.
• Chart View: Select color schemes for the chart (White, Black, or Don't Change).

Alert Settings

• Alert and Notification: Enable or disable alerts and push notifications.
• Candle Count: Maximum number of candles passed from a pattern to allow alerts.
• Alert Buffer Size: Prevents duplicate alerts by setting a maximum save alert buffer.
• Trading Hours: Set start and end times for alerts based on the computer clock.

Real-World Application

The 1 2 3 Pattern Scanner is particularly useful for traders who want to automate the detection of trend reversals. For example, a trader using the scanner can set it to alert them when a 1-2-3 pattern forms on the EUR/USD pair on a 15-minute chart. The scanner will notify the trader of the optimal entry point, stop-loss, and take-profit levels, allowing them to make informed trading decisions quickly.

User Experience

Traders have praised the 1 2 3 Pattern Scanner for its accuracy and ease of use. One user mentioned that the scanner's ability to provide real-time alerts and notifications has significantly improved their trading performance. Another user appreciated the tool's flexibility in scanning multiple assets and time frames, making it a versatile addition to their trading toolkit.

Conclusion

The 1 2 3 Pattern Scanner is a powerful tool for traders looking to identify trend reversals and optimize their trading strategies. With its advanced algorithm, multi-asset compatibility, and user-friendly features, it stands out as a valuable resource for both novice and experienced traders. 🚀📈