Ross Hooks And 1 2 3 Formations

🔹 Identifies Ross Hook and 1-2-3 formations for potential reversals.
📊 Displays support and resistance lines to guide entry and exit points.
🟢🔴 Signals bullish and bearish setups based on price action.
🕒 Multi-timeframe compatibility for intraday and short-term trading.
💡 Helps traders spot high-probability trades.
🛠️ User-friendly and beginner-friendly.
🆓 Free MT4 indicator for price action analysis.

🚀 Features of the Ross Hooks & 1-2-3 Formations Indicator

  • 🔹 Ross Hook Detection – Highlights price reversals from extreme highs or lows.

  • 🔹 1-2-3 Formation Recognition – Identifies three-step reversal patterns for trend analysis.

  • 📈 Support and Resistance Lines – Provides visual guidance for entry and exit points.

  • Alerts Potential Reversals – Helps traders anticipate trend changes in advance.

  • ⏱️ Multi-Timeframe Support – Works across multiple timeframes for intraday and short-term trading.

🎯 Benefits of Using the Indicator

  • Early Reversal Detection – Identify potential price turning points efficiently.

  • 📊 Enhanced Trade Accuracy – Supports informed decisions using visual signals.

  • 💻 Accessible for All Traders – Easy-to-understand interface for beginners and experienced traders.

  • 🛠️ Optimize Entry and Exit – Helps maximize trading opportunities with clear support/resistance guidance.

  • 🆓 Free Tool – Downloadable and ready to use on MT4 platforms.

Input Settings & Controls

🎨 Colors & Visuals

  • downcolor → Color used to display downward moves/signals.

  • upcolor → Color used to display upward moves/signals.

  • faildncolor → Color for failed downward moves.

  • failupcolor → Color for failed upward moves.

  • bbreakcolor → Color for band breakout signals.


📊 Calculation & Logic

  • maxbars → Maximum number of bars/candles to analyze.

  • aggression → Sensitivity setting that controls how aggressively signals are generated.

  • behaviourswitches → Internal switch settings that control indicator behavior.

  • rejectifheightlessthan → Filter to ignore signals if candle/bar height is below a minimum.

  • targetpercent → Percentage target level for signals/trades.

  • targetstart → Starting point or level for target calculation.

  • bandperiod → Period setting for calculating bands (e.g., Bollinger).

  • banddev → Deviation setting for band calculations.

  • Adjust Point → Option to auto-adjust plotting/levels.


📈 Display Options

  • showrosshooks → Toggle to display Ross Hook signals on chart.

  • fontname → Font used for text labels on chart.

  • fontsize → Size of the displayed text.

  • Pip Text Height → Position/height setting for pip value text.

  • showbandbreaks → Toggle to show/hide band breakout signals.

  • onlyshow1stbreak → Show only the first breakout, ignoring subsequent ones.


🔔 Alerts

  • Up Ross Hook Alerts → Enable alerts for upward Ross Hook signals.

  • Down Ross Hook Alerts → Enable alerts for downward Ross Hook signals.

Devices Supported

Device Type Operating System Compatibility with TradingView
💻 Windows Laptop/Desktop Windows XP / Vista / 7 / 8 / 8.1 / 10 / 11 ✅ Fully supported via app
🍏 MacBook / iMac macOS 10.15+ ✅ Fully supported via app
📱 Android / Mobile Android OS ❌ Not supported

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⚠️ Final Note: Trading in financial markets is speculative and may not be suitable for all investors. TrendCharts.in provides various automatic signal setups for Paper Trading & help in Analysis, it is not a “black box” system to be used without careful evaluation. Users must apply their judgment in filtering automated setups, particularly in relation to broader market trends. All trading decisions are solely the responsibility of the individual trader. Trading and investing involve risks, and losses are inevitable, So Kindly use only risk capital and never invest money you cannot afford to lose.

✅ Always remember🧠 my 3R Rule💡: If the money💰 is yours then, risk⚖️, reward🏆 and regret😔 are solely yours. 🔥

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