An interpretation of Stieve Nisson’s ‘Three Line Break’ strategy. Levels are determined by the closing prices. Blue lines denote support, red – resistance, dotted lines – candidates.
The parameter of the LB indicator sets the number of levels for a breakthrough. After a certain number of points, the lines of the levels on the specified timeframe are trailed. Only levels of a higher timeframe are shown on the chart.
This indicator was first implemented in MQL4 and published in Code Base at mql4.com on 07.11.2008.
MT5 Indicator – Download Instructions
SR TLB is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
SR TLB provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install SR TLB.mq5?
- Download SR TLB.mq5
- Copy SR TLB.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on SR TLB.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator SR TLB.mq5 is available on your Chart
How to remove SR TLB.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: