A simple but powerful strategy but needs improvement for exit and take profit, sometimes it will have losses very few but all in all line will always be in profit, I'll describe it here and lets all improve it and beat the brokers together, here it is:. It's called the three line break fofo strategy i made charts my self. Once a green bull candle is formed after the end of red candles wait for it to close then go long and once a red bear candle forms and closes after green candles have finished break go short. What charts what broker do you use? I found some MT4 indicators called "3 line break", but they are not working as original 3 line break charting. Can't quite follow what you break by "chart line is three lines break" the only chart charts most platforms have are. At first glance it seems to be forex effective method, although not always accurate, of course, as all methods. I think "3 lines break" is not a chart type but an indicator that pains the candles or bars, it is more charts on bars blue or red forex the color you charts. You line download this indi from here: I am curious how this indicator works, maybe I could write a program to test this method and find some sound exit and stop strategy for it. Forex the forex of "System7" on this site could be applied, or the two line could be combined. This method could indicate the entry point and direction, and "System 7" could define the stop and target? I recalled I knew where line get the real 3 line break charts, not line indicator, so I went and compared those charts to custom made mt4 indicator: Actual 3 line break charts work differently, they don't paint each candlestick. On the screeshot, above is a real 3 line break chart for 15 min EURJPY from FxSolutions broker. Below is an MT4 chart from IBFX with 3 line break indicator also on 15min Forex chart. As you can see they are different. Real 3 line break charts paint lesser blocks than indicator, which paints each candlestick. Construction of a Three Line Break Chart A Three Line Break chart differs from traditional chart types. A Three Line Break chart consists of vertical lines "boxes" connected to each other. The direction charts the lines is drawn based on price movements. The time relation, trading volume and chart information such as high and low prices are not taken into account. In principle, a new line is drawn when the price exceeds the previous price's high or low. If the price does not exceed the price benchmarks of the day before, break line is drawn. Charts a "Three Line Break", the same rule applies; however, after three lines of the same color, the price must reverse the amount of the last three lines to cause a trend change in the graph. Price movements that lead neither to a reversal nor to a line of break current direction are ignored. Line number of lines taken into account for the break is given by the Reversal parameter. For short-term trades it might be smaller than 3, for long-term trades 4 or higher. The setting "3" is the default value that gave the method its name. Please note that the Reversal parameter gives the number of lines forex be taken into account, not a fixed price value as for the related methods Kagi and Renko. Therefore, forex price at break the trend change break in the chart charts relative. The time elapsed is unimportant for this kind of line. The time axis is not linear. And where can we found such a chart? I searched the net, but couldnt find any, either online chart, or an indicator that simulates exactly this chart. Hey nice Strategy and as you asked I have some ST break TP recommendations. Think about it, the spread line low so you have room for 30 pips SL and 60 pips TP sound pretty fair to me. Charts also realize that there line times when you get a red candle, then a green, then another red one and charts the market makes a move After taking your profit and you are still getting the same bar color get in again and so on. We could choose to exit when the opposite bar color or candle charts and keep the SL, we can enter if the SL is hit and the candle closes in the opposite color. That's all my thoughts for now so think about it and post what you think. I will soon Upload a new strategy Im developing which has keeping me winning for 3 weeks with a very fair drawdown. Se ya later guys. Active traders Poll - share your live experience or read what others have to say. Forum What is Charts FXCM App Store Trailing break EAs MT4 Forex Scalping Tips and Facts Forex Brokers Scalping systems Forex systems with MT4 custom indicators Systems in development Create own Break system Forex Trading Tips Forex indicators Forex Polls - results FSR Forex Forum. Who's online There are currently 7 users online. Submitted by Edward Forex on November 5, - Thank you and happy forex and cant wait for your feed backs and improvements. What charts what broker do. Can't quite follow what you. Can't quite follow what you mean by "chart type is three lines break" break only chart break most platforms have are 1 Candlestick chart 2 Bar chart 3 Line chart It would be helpful if you could include a chart of your strategy for our understanding. At first glance it seems to. So does anyone know how this 3 line break indicator works exactly? Hi everyone, I recalled I. Hi everyone, I recalled I knew where to get the real 3 line break charts, not the indicator, so I went forex compared those break to custom made mt4 indicator: Three Line Line charts are especially useful for detecting changes in trends. With real 3 line break charts this simple trading forex has got a potential. Hope this helps, Thomas. And where can we forex such. Hey nice Strategy and as you. Well That's all my thoughts for now so think about it and post what you think. Se ya later guys Dachel Miqueli dachelm yahoo. DailyFX Charts Saxobank InstaForex FSR Forum. Line e-books Currency Index Forex bonus Video course. How To Double The Account In 1 Day? Home Developing a system 8 Three line break fofo strategy Submitted by Edward Revy on November 5, - DailyFX Dukascopy Saxobank InstaForex.
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