Three-line break charts (TLB) - signal indicator
Three-line break charts (TLB) - forex signal indicator to work in MetaTrader 4 terminal. The author of this filter was Stephen Nison. He intended to use it together with Japanese candlesticks as a trend indicator.
As a result, the best buy signal is the blue bar Three-line break charts (TLB) after three consecutive red bars. Conversely, the appearance of a red, broken bar after three blue bars indicates an opportunity to open for sale.
It is worth noting that false signals happen when the trend has already taken place and there are pullbacks. Therefore, the author recommends varying the number of consecutive bars depending on the volatility of the pair and the timeframe.
ForTrader.org commentsThree-line break charts (TLB) is not a bad indicator, but we recommend to pay attention to the width of its bars when opening a deal - the wider they are, the more likely it is to make a profit.
