Third Line Breakout - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources - MetaTrader 5 Resources
A linear reversal chart represents a series of vertical boxes (lines) whose direction and size are determined by price dynamics. Such charts are drawn based on closing prices and do not take into account either time frame or trading volume.
The main advantage is the lack of freely defined reversal values (in terms of signals given by market behavior). The chart sensitivity of a triple line breakout can be adjusted by changing the number of lines the market should break through to engineer a reversal.
suggestion:
Attachment download
📎tlb.mq5 (5.3 KB)
Source: MQL5 #1298
Three-line breakthrough - MetaTrader 5 script | Trading script download - MT4/MT5 resource usage and screening suggestions
Third Line Breakthrough - MetaTrader 5 Script | Trading Script Download - MT4/MT5 resources are trading script related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based only on titles or short-term profit descriptions.
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