Three Line Strike Indicator Request | Forex Factory

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Three Line Strike Indicator Request

  • #1
  • First Post: Mar 17, 2016 4:12pm Mar 17, 2016 4:12pm
Hello Ladies and Gents,

Could somebody possibly help me out with an extremely simple indicator? The rules are quite simple:

Draw an up arrow IF the last candle closes higher than the fourth to last candle AND IF the second to last candle closed lower than the third to last candle AND IF the third to last candle closes lower than the fourth to last candle. And also the other way around for a short signal.

Here are two examples:

The highlighted candle engulfs all three candles before it and each candle before the highlighted candle closed lower than the previous candle
Attached Image (click to enlarge)
Click to Enlarge Name: 3linestrike.PNG Size: 33 KB


Here are two examples, a long signal and a short signal
Attached Image (click to enlarge)
Click to Enlarge Name: 3linestrike1.PNG Size: 36 KB


More info here: http://www.investopedia.com/articles...k-patterns.asp (please scroll down to "Three Line Strike")

Or here: http://thepatternsite.com/ThreeLineStrikeBull.html

Thank you in advance and cheers!
When trading: "Empty your mind, be formless. Shapeless, like water."
  • #2
  • Mar 19, 2016 4:50pm Mar 19, 2016 4:50pm
maybe you can have a look here for more info...
https://forum.mql4.com/68991
Reg.Zack
  • #3
  • Mar 20, 2016 1:39am Mar 20, 2016 1:39am
Quoting zackery
maybe you can have a look here for more info... https://forum.mql4.com/68991 Reg.Zack

Thanks, will take a look at them today!
When trading: "Empty your mind, be formless. Shapeless, like water."
  • #4
  • Mar 20, 2016 1:49am Mar 20, 2016 1:49am
Quoting hanover
{quote} Try the attached indicator. {file}

Thank you, testing now!

It seems as if it is giving off false signals. Please check the below screenshot. It sent 5 false signals while getting only four correct.

Attached Image (click to enlarge)
Click to Enlarge Name: three strike.PNG Size: 42 KB
When trading: "Empty your mind, be formless. Shapeless, like water."
  • #5
  • Mar 20, 2016 2:03am Mar 20, 2016 2:03am
Quoting zackery
maybe you can have a look here for more info... https://forum.mql4.com/68991 Reg.Zack
EDIT; I couldn't find the indy in that .zip file from teh link you posted


Any help? Would be great, thank you in advance!!
When trading: "Empty your mind, be formless. Shapeless, like water."
  • #6
  • Edited 9:28pm Mar 20, 2016 3:06pm | Edited 9:28pm
Quoting Shemski
Thank you, testing now! It seems as if it is giving off false signals. Please check the below screenshot. It sent 5 false signals while getting only four correct.
I've deleted the indy, as it's apparently not correct. It followed the rules you cited in post #1:
Quote
The rules are quite simple: Draw an up arrow IF the last candle closes higher than the fourth to last candle AND IF the second to last candle closed lower than the third to last candle AND IF the third to last candle closes lower than the fourth to last candle. And also the other way around for a short signal.
However, you then implied some additional rules in your examples, and then finally, posted a links to Investopedia and patternsite definitions whose rules both differ significantly yet again. You need to decide which one of these four different sets of rules you want coded. I'll have another look if I have some spare time next weekend.
  • #7
  • Mar 22, 2016 5:34am Mar 22, 2016 5:34am
Quoting hanover
{quote} I've deleted the indy, as it's apparently not correct. It followed the rules you cited in post #1: {quote} However, you then implied some additional rules in your examples, and then finally, posted a links to Investopedia and patternsite definitions whose rules both differ significantly yet again. You need to decide which one of these four different sets of rules you want coded. I'll have another look if I have some spare time next weekend.

Sorry about the delay. Please use the rules I provided:


Draw an up arrow IF the last candle closes higher than the fourth to last candle AND IF the second to last candle closed lower than the third to last candle AND IF the third to last candle closes lower than the fourth to last candle. And also the other way around for a short signal.

Here are three examples, the first one is incorrect because the second candle does not close lower than the first. Although all three candles are engulfed by the last candle, I would like to see each of the first three candles close lower than the candle before it.

Attached Image (click to enlarge)
Click to Enlarge Name: 3s.PNG Size: 32 KB



Thank you so much in advance!
When trading: "Empty your mind, be formless. Shapeless, like water."
  • #8
  • Mar 22, 2016 11:44am Mar 22, 2016 11:44am
Quoting Shemski
Please use the rules I provided:
That is exactly what I did, but you said that it generated 5 false signals. Below is a copy of your screenshot. I have numbered each instance: 1,2,3,4,5. Please explain why each individual instance is a false signal, because in each case:
 the last candle closes higher than the fourth to last candle
 the second to last candle closed lower than the third to last candle
 the third to last candle closes lower than the fourth to last candle
And also the other way around for a short signal.

Here are my questions for you:
1. Why is instance #1 a false signal?
2. Why is instance #2 a false signal?
3. Why is instance #3 a false signal?
4. Why is instance #4 a false signal?
5. Why is instance #5 a false signal?
6. If these are false signals, there must be additional rules that you haven't specified. What are these rules?

If you can not explain your rules fully, I will give up on this job. You will need to find another programmer.
Attached Image (click to enlarge)
Click to Enlarge Name: PPI 124.png Size: 124 KB
  • #9
  • Mar 23, 2016 8:38am Mar 23, 2016 8:38am
Quoting hanover
{quote} That is exactly what I did, but you said that it generated 5 false signals. Below is a copy of your screenshot. I have numbered each instance: 1,2,3,4,5. Please explain why each individual instance is a false signal, because in each case:  the last candle closes higher than the fourth to last candle  the second to last candle closed lower than the third to last candle  the third to last candle closes lower than the fourth to last candle And also the other way around for a short signal. Here are my questions for you:...
1. Why is instance #1 a false signal? The candle is only engulfing two bull candles, the first is a bear candle.
2. Why is instance #2 a false signal? The candle is only engulfing two previous candles.
3. Why is instance #3 a false signal? ""
4. Why is instance #4 a false signal? ""
5. Why is instance #5 a false signal? The candle is only engulfing two bull candles, the first is a bear candle.

I hope this helped.
When trading: "Empty your mind, be formless. Shapeless, like water."
  • #10
  • Mar 23, 2016 12:39pm Mar 23, 2016 12:39pm
Quoting Shemski
{quote} 1. Why is instance #1 a false signal? The candle is only engulfing two bull candles, the first is a bear candle. 2. Why is instance #2 a false signal? The candle is only engulfing two previous candles. 3. Why is instance #3 a false signal? "" 4. Why is instance #4 a false signal? "" 5. Why is instance #5 a false signal? The candle is only engulfing two bull candles, the first is a bear candle. I hope this helped.
Your rules never said anything about bull/bear or engulfing candles. It is still not clear which candles have to be bull or bear.

I am sorry, but I can't spend forever going back and forth, while you keep changing your mind. I give up.
  • #11
  • Edited Mar 24, 2016 6:20am Mar 23, 2016 9:48pm | Edited Mar 24, 2016 6:20am
Quoting Shemski
{quote} 1. Why is instance #1 a false signal? The candle is only engulfing two bull candles, the first is a bear candle. 2. Why is instance #2 a false signal? The candle is only engulfing two previous candles. 3. Why is instance #3 a false signal? "" 4. Why is instance #4 a false signal? "" 5. Why is instance #5 a false signal? The candle is only engulfing two bull candles, the first is a bear candle. I hope this helped.
Shemski-
I agree with David your description does not match the Three Line Strike descriptions in the links you posted. I think it's just coincidence that the previous candles are being engulfed by the reversal candle in the illustrations.
With that said try this indicator. Its one I had for a similar formation where only the candle previous to the reversal candle was engulfed and the previous 3 all had to be up or down closes before the reversal candles.
Attached Image (click to enlarge)
Click to Enlarge Name: TLS1.PNG Size: 32 KB
Attached File(s)
File Type: ex4 FXPT_TLS_v1.ex4   22 KB | 2,405 downloads
  • #12
  • Nov 17, 2017 10:23am Nov 17, 2017 10:23am
Thank you very much !! This indi looks very useful specially when the arrow appears near support and resistances for short time trading.
Also we can change the arrow distance and color in settings.
Although i have never seen such feature in mt4 indicators i would like to ask is it is possible to change the kind of signal that appear on chart like choosing between an arrow and a DOT and how can we do that?
  • #13
  • Mar 7, 2021 8:39am Mar 7, 2021 8:39am
Quoting cyber1
{quote} Shemski- I agree with David your description does not match the Three Line Strike descriptions in the links you posted. I think it's just coincidence that the previous candles are being engulfed by the reversal candle in the illustrations. With that said try this indicator. Its one I had for a similar formation where only the candle previous to the reversal candle was engulfed and the previous 3 all had to be up or down closes before the reversal candles. {image} {file}
Thank U so much BOSS
  • #14
  • Oct 23, 2021 4:37am Oct 23, 2021 4:37am
Quoting cyber1
{quote} Shemski- I agree with David your description does not match the Three Line Strike descriptions in the links you posted. I think it's just coincidence that the previous candles are being engulfed by the reversal candle in the illustrations. With that said try this indicator. Its one I had for a similar formation where only the candle previous to the reversal candle was engulfed and the previous 3 all had to be up or down closes before the reversal candles. {image} {file}
Do you have access to the source code, or to source of statistic investigating probability of this pattern
  • #15
  • Oct 23, 2021 5:07am Oct 23, 2021 5:07am
Quoting hanover
{quote} Your rules never said anything about bull/bear or engulfing candles. It is still not clear which candles have to be bull or bear. I am sorry, but I can't spend forever going back and forth, while you keep changing your mind. I give up.

what a shame the community missed the chance receiving a great coding from you Hanover
Attached Image (click to enlarge)
Click to Enlarge Name: 3linestrike pattern.png Size: 296 KB
  • #16
  • Oct 1, 2022 4:17am Oct 1, 2022 4:17am
Hey all. so with the help of google i have tried to add an alert to this indicator but it gives me an alert to buy and sell on the close of every single candle and not when the arrow appears. Could someone please add an alert to it. Also if possible, could you adjust the location of the "arrow" so it is a little higher/ lower and not directly on the candle. the attached indicator does not include the terrible attempt i made at trying to add code for an alert. Thank you!!!
Attached File(s)
File Type: mq4 3LS.mq4   3 KB | 611 downloads
  • #17
  • Oct 1, 2022 5:09am Oct 1, 2022 5:09am
Quoting Shemski
Hello Ladies and Gents, Could somebody possibly help me out with an extremely simple indicator?

The rules are quite simple:
Apparently not, no one has worked them out yet, must be hard than the Zodiac cryptic code letters and they were solved after 50 years!

I checked those websites, here is my take.

I think the basic parameter that needs to be specified right at the start is -

Is this a continuation pattern or a reversal pattern?

At least then we will know where to look for the entry level, seems to me it will be a breakout of candle 4

But I'm not sure which direction.

Cheers
It takes a lot for me to IGNORE you, but you can try.
  • #18
  • Oct 1, 2022 6:06am Oct 1, 2022 6:06am
Quoting Erebus
{quote} Apparently not, no one has worked them out yet, must be hard than the Zodiac cryptic code letters and they were solved after 50 years! I checked those websites, here is my take. I think the basic parameter that needs to be specified right at the start is - Is this a continuation pattern or a reversal pattern? At least then we will know where to look for the entry level, seems to me it will be a breakout of candle 4 But I'm not sure which direction. Cheers
when the "arrow" appears under the candle it is a buy when it appears above it is a sell. they used to be arrows, i changed them to diamonds because as they are currently positioned, they covered too much of the candle as arrows. I just want an alert on the close of the candle with the arrow. doesnt even need to say buy sell just the symbol of the chart...for example xauusd or usoil is good enough for me.

as for entry...personally i find it best to enter on break of the signal candle.
  • #19
  • Oct 1, 2022 6:23am Oct 1, 2022 6:23am
Quoting Dimi
{quote} when the "arrow" appears under the candle it is a buy when it appears above it is a sell. they used to be arrows, i changed them to diamonds because as they are currently positioned, they covered too much of the candle as arrows. I just want an alert on the close of the candle with the arrow. doesnt even need to say buy sell just the symbol of the chart...for example xauusd or usoil is good enough for me. as for entry...personally i find it best to enter on break of the signal candle.
I don't know about the arrows as I have not bothered to download the indicator.

Why not post a chart picture, that makes it visually easy to explain.

And you still didn't mention Bearish or Bullish, which direction to trade?

Forgot to mention, from those websites, they call it a Bearish pattern and then the trade is opposite.

To me it seems to be a basic Engulfing Candle, just engulfs more than the previous candle.

Here is a setup I spotted while researching the Larry Williams 9-EMA method.

Coincidentally, that signals in exact same place, how about that?

Is this the same as your criteria for trade entry and direction?

Attached Image (click to enlarge)
Click to Enlarge Name: 2022-10-01_21-12-48.jpg Size: 283 KB

Attached Image (click to enlarge)
Click to Enlarge Name: 2022-10-01_21-16-01.jpg Size: 310 KB
It takes a lot for me to IGNORE you, but you can try.
  • #20
  • Oct 1, 2022 6:36am Oct 1, 2022 6:36am
Quoting Erebus
{quote} I don't know about the arrows as I have not bothered to download the indicator. Why not post a chart picture, that makes it visually easy to explain. And you still didn't mention Bearish or Bullish, which direction to trade? Forgot to mention, from those websites, they call it a Bearish pattern and then the trade is opposite. To me it seems to be a basic Engulfing Candle, just engulfs more than the previous candle. Here is a setup I spotted while researching the Larry Williams 9-EMA method. Coincidentally, that signals in exact same place,...
ok so just spamming the thread so if someone was able to add the alert to the indicator, now they probably won't even see the request. cool!!

I didnt post to get into discussions on trading hence no need for screen shots. I only posted to see if someone is able to add the alert.

The point of it is to help enter in on the trend on a pullback. so the simple way to think of it is that for a bullish trend you need at least 3 bearish candles and then a bullish engulfing candle. that is the simple explanation.

My criteria for trade entry is not only based on this. it is just something that i need to see happen as well for confluence. if you use this on its own you will lose money.

hope that helps
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