SR_TLB - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources
An interpretation of Stieve Nisson's 'Three Line Break' strategy. Levels are determined by closing prices. The blue line represents support, the red represents resistance, and the dotted line represents candidates.
The parameters of the LB indicator set the number of levels for a breakout. After a certain number of points, a horizontal line is traced over the specified time frame. Only the higher timeframe levels are shown on the chart.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on November 7, 2008.
Figure 1. SR_TLB indicator
Attachment download
📎 sr_tlb.mq5 (36.58 KB)
Source: MQL5 #1753
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