Three Drives Pattern Scanner

The Three Drives pattern is a six-point structure, X-1-A-2-B-3: an initial drive, a corrective retracement (A), a second drive, a second correction (B), and a third drive that ends the structure. Published versions require each correction to retrace 0.618-0.786 of the drive before it, and each drive after the first to extend 1.13-1.618 of the correction that fed it. This indicator checks both ratio families on confirmed fractal swings (same construction as this catalogue's other structure tools), and adds a symmetry check - no drive's price length may differ from the average of all three by more than a configurable tolerance - so a structure that happens to land inside the ratio bands but is visibly lopsided does not pass as a genuine "three equal pushes" exhaustion. Once the first two drives and both corrections are in place (five confirmed points), the indicator draws the projected 1.13-1.618 extension zone for where Drive 3 would need to land, before Drive 3 itself exists - the same projection a trader would draw live with a Fibonacci extension tool. When the sixth point actually confirms inside that zone and passes the symmetry check, the full six-point structure is outlined and labelled bullish or bearish, with an alert. Being honest about scope: like every fractal-based pattern scanner in this catalogue, a swing is fixed InpSwingBars bars after it forms, so every point in the structure - and the pattern label itself - lags by that amount. This identifies ratio-and-symmetry-complete structures only; it does not additionally wait for a reversal candle or any other confirmation that price actually turns at the third drive. Notes and limitations - The projected completion zone is drawn once and not re-projected if a later swing revises which point is "B" - a fresh five-point setup simply produces its own new zone. - The symmetry check compares price length only, not duration; three drives of equal price length but very different bar counts will still pass. - Only one pattern instance is evaluated per confirmed sixth point; the indicator does not search every historical six-point combination across the chart at once. - Ratio bands for Three Drives vary slightly between published sources; treat the pattern label as a structural classification, not a certification against one specific author's exact numbers.

Indicator · MT5 · v1.0 · Free

Tags: Fibonacci · Dashboards & Scanners · Alerts · MT5 Indicator · MQL5 Source Code

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