Three Line Break Candles
- Indicators
- Deepak
- Version: 1.0
- Activations: 5
Three Line Break Market Structure Indicator for MetaTrader 5 Only for Today Offer EA: Overlap King Gold
Only for Today Offer EA: Overlap King Gold
The Three Line Break indicator is an analytical tool based on the classic Three-Line Break methodology. It is designed to filter standard candlestick market noise and display structural price movements, trend continuation patterns, and potential market reversals directly on the chart.
The indicator plots wickless Line Break boxes representing confirmed bullish and bearish price structure, alongside a real-time Ghost Candle displaying developing price movement.
Core Features
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Implementation of classic Three-Line Break logic.
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Visual separation between confirmed price boxes and active price movement.
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Real-time Ghost Candle displaying developing bar structure.
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Three-line reversal condition detection.
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Dynamic historical Line Break reconstruction.
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Built-in on-chart information monitor showing active mode and confirmation status.
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Native MQL5 architecture without external DLL requirements.
Calculation Logic
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Bullish Structure: A new bullish box forms when the closing price exceeds the high of the previous confirmed Line Break box.
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Bearish Structure: A new bearish box forms when the closing price breaks below the low of the previous confirmed Line Break box.
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Reversal Condition: A reversal box requires price to exceed the range established by the previous three consecutive Line Break boxes in the opposite direction.
Developing Ghost Candle
The Ghost Candle represents real-time price development for the ongoing period. Unlike confirmed historical boxes, the Ghost Candle updates dynamically with current ticks and will only become a fixed box once the selected closing conditions are fully satisfied.
Confirmation Modes
The indicator supports three distinct confirmation mechanisms:
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Default Mode: Evaluates confirmation based on the active chart timeframe.
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Selected Timeframe Mode: Evaluates confirmation using a user-specified MetaTrader 5 timeframe.
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Custom Interval Mode: Evaluates confirmation using a user-defined time interval in seconds.
On-Chart Information Display
The compact chart monitor provides real-time operational metrics:
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Selected confirmation mode.
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Active timeframe or custom time interval.
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Remaining time until the next potential confirmation.
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Server/chart time synchronization.
Default Color Scheme
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Confirmed Bullish Box: SeaGreen
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Confirmed Bearish Box: Crimson
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Active Developing Bullish Movement: MediumAquamarine
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Active Developing Bearish Movement: LightCoral
(All color parameters can be fully customized in the indicator input settings).
Analytical Use Cases
This indicator is intended for manual technical analysis and can assist traders with:
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Identifying macro and micro market structure.
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Tracking underlying directional momentum without micro-wick noise.
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Monitoring multi-bar price reversals.
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Serving as a visual confirmation layer within discretionary trading systems.
Technical Specifications & Inputs
All input parameters and output messages are configured in clear English. The indicator runs natively inside MetaTrader 5 and does not require WebRequest or third-party libraries.
Disclaimer
This indicator is a technical visualization tool and does not provide financial advice or guarantee specific trading outcomes. Past performance does not guarantee future results. Users should test the indicator thoroughly in the Strategy Tester and on demo accounts to understand its behavior under different market conditions.
For More Information and More Products:- https://www.mql5.com/en/users/deepak89kumar/seller
