Summary of "馃殌Three Drive Harmonic Pattern Indicator on TradingView - Free - [TradingFinder]馃殌"
Main Strategies and Analyses:
- Three Drive Harmonic Pattern: This indicator identifies potential reversal areas in the market based on symmetry and Fibonacci ratios.
- Comparison with Three Push Pattern: While similar to the Three Push Pattern, the Three Drive pattern does not provide precise targets or Fibonacci confirmation, focusing instead on support and resistance areas.
- Momentum Analysis: The indicator helps identify weakening momentum in the prevailing trend, allowing traders to make informed decisions.
Methodology and Settings:
- Accessing the Indicator:
- Search for the indicator in the TradingView indicator section.
- Add it to favorites for quick access.
- Settings Adjustments:
- Pivot Zigzag Period: Default is set to three; can be adjusted to identify longer or shorter-term patterns.
- Strict Format Option: Enables display of only precise patterns, reducing noise.
- Display Options: Enable or disable the display of bullish and bearish patterns, customize colors, line thickness, and label sizes.
- Alert Status: Set alerts based on three conditions (all, once per bar, per bar close) for price movements.
- UTC Time Adjustment: Change to the desired time zone for alerts.
- Signal Generation: The indicator issues buy and sell signals based on identified breakout points, allowing traders to enter trades with more confidence.
Presenters/Sources:
The video is presented by TradingFinder.
Category
Business and Finance
