Three Line Strike Trading System
- Indicateurs
- Ich Khiem Nguyen
- Version: 1.0
- Activations: 10
Line Strike Trading System for MetaTrader 5
Line Strike Trading System is a price action indicator for MT5 designed to detect 4-bar Three Line Strike patterns and generate structured trade setups after confirmation.
A detailed user guide is available on the author’s MQL5 Blog.
Additional updates are available through the author’s MQL5 Channel.
Depending on the current support policy, buyers may receive additional access to selected companion tools developed by the author.
Overview
Line Strike Trading System detects four-candle reversal structures where three consecutive trend candles build a directional staircase and a fourth strike candle reverses the entire formation.
This pattern can be used to identify strong rejection after an extended short-term sequence in one direction.
All calculations are based on completed bars only.
Detection is non-repainting. Signal values do not change after the bar is closed.
The indicator can draw Entry, Stop Loss, and Take Profit levels directly on the chart and track signal progress after detection.
Detection Logic
The detection model evaluates each completed four-bar pattern through several structural conditions.
These conditions can include:
Three consecutive trend candles moving in the same direction
Minimum body size relative to candle range
Minimum range relative to ATR
Stair-step progression across the first three candles
A final strike candle that reverses and engulfs the prior body structure
The indicator can detect both bullish and bearish Three Line Strike structures.
Patterns that do not meet the selected structural requirements are ignored.
Quality Evaluation
Each valid pattern can be evaluated through a multi-factor quality model.
The scoring process can include measurements such as:
Stair-step consistency
Engulf strength
Strike body ratio
Trend context
Signals below the selected minimum threshold can be filtered out automatically.
Entry and trade planning
For confirmed setups, the indicator can project entry levels at the strike candle close or with an optional ATR buffer.
For each valid setup, the indicator can display:
Entry level
Stop Loss level
Up to four Take Profit levels
Risk and reward zones on the chart
Stop Loss can be calculated using Donchian Channel logic or ATR-based logic.
An optional trailing stop based on Donchian logic is also available for users who want dynamic trade management after entry.
Filters and tools
Optional filters are available to reduce unnecessary signals.
These include Direction Filter, Extreme Zone Filter, Stop Hunt Filter, Signal Zone Filter, and Opposite Signal Filter.
The built-in scanner can monitor up to 150 symbols across 8 timeframes from a single chart.
The indicator also includes BOS and CHOCH labels, a signal dashboard, alert options, chart themes, and output buffers for Expert Advisor integration.
Recommended use
Recommended timeframes are H1, H4, and D1 because Three Line Strike patterns generally become clearer when trend structure is more visible.
The indicator can be applied to Forex pairs, XAUUSD, indices, and crypto symbols, depending on broker data quality and symbol characteristics.
Loading sufficient chart history is recommended for more stable structure analysis.
MetaTrader 5 only.
No DLL calls.
No external WebRequest connections.
Important notes
This indicator is a technical analysis tool.
It does not guarantee trading results.
Users should test settings in their own environment and apply appropriate risk management.
Support is available through the product comments section or via MQL5 direct message.
