Three Line Strike Candlestick Pattern and MQL4 Indicator

Summary

The document describes an MQL4 conversion of the TradingView Three Line Strike indicator. It defines a bearish setup as three bullish candles followed by a bearish engulfing candle, and a bullish setup as three bearish candles followed by a bullish engulfing candle. These rules provide a compact candlestick pattern that traders can use to identify a possible reversal or change in direction.

The material offers no performance data, entry or exit guidance, risk controls, or market conditions where the pattern may work better or worse. It also notes that the indicator does not include alerts and directs readers elsewhere for usage instructions. As presented, it is a basic pattern definition and implementation reference, not a tested trading system; signals would need independent validation and context before use.

Key ideas

• A bearish Three Line Strike setup follows three bullish candles with a bearish engulfing candle.
• A bullish setup follows three bearish candles with a bullish engulfing candle.
• The document presents an indicator conversion but gives no evidence of trading performance.
• The indicator has no alert feature, and the document provides no entry, exit, or risk rules.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.