This code snippet demonstrates how to detect a 123 trading pattern using fractal points in ProBuilder. The 123 pattern is a common reversal chart pattern that occurs in financial markets and is used by traders to predict changes in market direction. The code also includes functionality to visually represent potential buy and sell levels based on the pattern.

period = 5
ShowSellLevel = 1 //1=true ; 0=false
ShowBuyLevel = 1 //1=true ; 0=false

// --- end of settings

//fractals
cp=period
if high[cp] >= highest[2*cp+1](high) then
    LH = 1
else
    LH=0
endif

if low[cp] <= lowest[2*cp+1](low) then
    LL= -1
else
    LL=0
endif

if LH=1 then
    hil = high[cp]
    hilbar=barindex[cp]
    if hillol and close>lol then
        //market structure
        selllevel=lol
        if ShowSellLevel then
            drawsegment(hilbar,hil,barindex,lol) coloured(255,0,0)
        endif
    else
        selllevel=0
    endif
    if hilbar>lolbar and buylevel>0 then
        //reset buy structure
        buylevel=0
    endif
    DRAWTEXT("▼",barindex[cp],hil,Dialog,Bold,12)
endif

if LL = -1 then
    LOL = low[cp]
    lolbar=barindex[cp]
    if lol>lol[1] and lolhilbar and selllevel>0 then
        //reset buy structure
        selllevel=0
    endif
    DRAWTEXT("▲",barindex[cp],lol,Dialog,Bold,12)
endif

sellline=undefined
buyline=undefined
if ShowSellLevel then
    sellline=selllevel
endif
if ShowBuyLevel then
    buyline=buylevel
endif

return sellline coloured(255,0,0),buyline coloured(0,255,0)

The code snippet above is structured to identify and visualize potential trading levels based on the 123 pattern and fractal points:

• Settings: Initial settings include the period for fractal calculation and flags to show sell or buy levels.
• Fractal Calculation: Determines the highest and lowest points within a specified range to identify potential pivot points in the market structure.
• Pattern Detection: Checks conditions to confirm the presence of a 123 pattern. If conditions are met, it sets the sell or buy levels accordingly.
• Visualization: Uses drawsegment and DRAWTEXT functions to visually mark these levels on the chart, aiding in visual analysis.
• Reset Conditions: Resets buy or sell levels when new fractal points are detected beyond the current levels, ensuring the indicator adapts to new market information.

This approach helps traders visually identify and react to potential reversal points in the market, which are critical for making informed trading decisions.