One two three bottom setup event
Marks bars where price sits near its 100-bar low; meant to flag a bottom, but the rally check never filters.
The pattern runs a three-state machine on the lowest and highest close of the last 100 bars. It arms when a close falls within eps (0.3% by default) of the low, then moves on at step two, which is meant to need a rally off the low or a touch of the high. The marker prints when the machine lands in its third state, and the next close near the low returns it to the first state. Step two always passes because of an operator-precedence bug, so in practice the marker means price was recently near its 100-bar low.
How to read it
- Markers sit on the candles, not in a pane, and appear only while price is near its 100-bar low.
- A marker prints one bar after a close lands within eps of that low, so read it as the bar after the touch.
- While price stays in that band, markers repeat about every third bar, so treat a run as one event.
- A marker does not confirm a bottom: no rally or higher low is required before it prints.
What it outputs
- One-two-three bottom
- Marker on the bar after a close lands within eps of the 100-bar low, while the pattern is armed. It flags price at its recent low, not a confirmed bottom.
When it fires
Fires one bar after a close lands within eps of the 100-bar low. It means price is sitting at its recent low, not that the low is in. While price stays inside that band, it fires about every third bar.
Settings
- eps
- Width of the band around the 100-bar low that counts as at the low (0.3% by default). Raising it adds markers and spreads them over more of the low. Lowering it keeps only closes right at the low. A negative value turns markers off.
- pullback
- No effect on the chart. The rally step it feeds always passes because of an operator-precedence bug, so every value gives the same markers as the default.
Pitfalls
- Step two never filters: operator precedence makes the rally check always true, so this is a near-low detector in practice, not a one-two-three bottom.
- Noisy at defaults: on SPY one-minute bars for September 2026, markers appeared on about 30% of bars, roughly 287 a day, so they are not a timing signal alone.
- The low is the lowest close of the last 100 bars and resets as price falls, so markers can keep printing through a steady decline.