Three Line Strike Signals with Volume and Risk Controls

Summary

This excerpt presents a Pine Script strategy built around bullish and bearish three line strike candle patterns. It includes switches for long and short trades, a session filter, moving average display options, and several stop methods: fixed pip distance, ATR trail, or ATR trail-stop. A risk/reward setting is also provided, along with a volume-status display based on volume relative to its moving average.

The visible text begins the engulfing-candle logic and explains that it compares candle body sizes as well as candle direction. However, the document ends partway through that logic, before the full signal rules, entries, exits, or performance evidence are shown. As a result, the precise pattern definition and how the filters affect trades cannot be confirmed from this excerpt. It provides configurable components rather than results; no market, timeframe, or backtest findings are included.

Key ideas

• The strategy is designed to trade bullish and bearish three line strike patterns.
• It offers fixed-distance and ATR-based stop approaches, plus a configurable risk/reward ratio.
• A volume status display classifies volume relative to a moving average.
• The excerpt ends before the complete entry and exit logic is visible.

Tags

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