The indicator was developed by a former hedge fund employee. And it was designed to determine the reversal pattern ‘Triple Strike (Three Line Strike)‘.
According to Thomas Bulkowski (an internationally renowned author and leading expert on candle patterns),’Triple Strike (Three Line Strike)‘has the highest overall performance score among all candle patterns. Bulkovsky’s bestseller “The Complete Encyclopedia of Graphical Price Models” is recognized worldwide as the main guide to the analysis of candle patterns.
This indicator analyzes the entire Forex market (all 28 pairs and all timeframes). And sends an alert when one of these patterns is detected.
Important notes:
This pattern appearsNOT very often. But when it does, it’s a very high-probability model. The higher the timeframe , the more reliable the signal is. For more detailed information, I recommend reading the images below.
- RSI Period: Parameter for the RSI filter
- RSI Up Level: The overbought level for the RSI filter. The pattern must form above this level to be valid.
- RSI Down Level: The oversold Level for the RSI filter. The pattern must form below this level to be valid.
- Symbols: Here you select the currency pairs to track. By default, the indicator tracks the top 28 pairs, but you can specify a smaller number of pairs if you want.
- Alert on M1: True = Yes, False = No
- Alert on M5: True = Yes, False = No
- Alert on M15: True = Yes, False = No
- Alert on M30 (Alert on M30): True = Yes, False = No
- Alert on H1: True = Yes, False = No
- Alert on H4: True = Yes, False = No
- Alert on D1: True = Yes, False = No
- Alert on W1: True = Yes, False = No
- Alert on MN1 (Alert on MN1): True = Yes, False = No
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For better performance, make sure that the “max bars” parameter is set to no more than 50000.
For more detailed information, I recommend reading the screenshots below. If you have any questions, please contact us.
Be sure to check out our other indicators and our short videos. These videos contain a lot more information (including our trading guidelines).
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