Which is the better drive pattern indicator?

<p id="isPasted">There's no single "best" drive pattern indicator, as the effectiveness of any pattern depends on the context of the market and individual trading style. However, the Three Drives pattern is a well-known and frequently cited pattern, often considered a strong indicator of potential trend reversals.&nbsp;</p><p>The Three Drives Pattern:</p><p>Structure:</p><p>It consists of three consecutive price movements (drives), each followed by a retracement or correction.&nbsp;</p><p>Bullish vs. Bearish:</p><p>In a bullish three-drive, the market is making three final drives to a bottom before an uptrend forms. In a bearish three-drive, it's peaking before the bears take over.&nbsp;</p><p>Symmetry:</p><p>A key characteristic is the symmetrical nature of the drives and retracements, with the elapsed times of each move being relatively equal.&nbsp;</p><p>Reversal:</p><p>It can signal a high chance of an impending market reversal, making it valuable for identifying potential entry and exit points.&nbsp;</p><p>Fibonacci Extension:</p><p>The C-D and E-F drives ideally encompass 127.2% and 161.8% of the pullbacks observed during the B-C and D-E phases, respectively, as per LiteFinance.&nbsp;</p><p>Fibonacci Retracement:</p><p>The pullbacks during the B-C and D-E phases should ideally be retracements of 61.8% or 78.6% of the preceding drive.&nbsp;</p><p>Other Potential Indicators:</p><p>Wedge Patterns:</p><p>Wedge patterns, both rising and falling, can also signal potential trend reversals, though they don't rely on the same strict symmetry and Fibonacci ratios as the three-drive.&nbsp;</p><p>Head and Shoulders:</p><p>This pattern is another well-known reversal indicator, but it focuses on a different price structure.&nbsp;</p><p>Key Considerations:</p><p>Confirmation: Drive patterns should always be confirmed by other indicators, such as volume analysis or trend lines, before making trading decisions.</p><p>Context: The effectiveness of any pattern depends on the overall market context and trend.</p><p>Personal Trading Style: The best pattern for one trader might not be the best for another.&nbsp;</p>

<p>The Three Drives Pattern Detector indicator focuses on detecting and displaying completed Three Drives patterns on the user chart. This harmonic pattern is characterized by successive higher highs / lower lows following specific ratios.</p><p><a href="https://in.tradingview.com/script/exLpneLX-Three-Drive-Pattern-Detector-LuxAlgo/">https://in.tradingview.com/script/exLpneLX-Three-Drive-Pattern-Detector-LuxAlgo/</a></p><p><br></p>