Three Line Strike Indicator

The Three Line Strike Indicator is a powerful yet simple candlestick-based tool for MT4 that helps traders instantly spot market bias. This indicator plots green and red arrows on your chart—green arrows signal potential buying opportunities, while red arrows highlight possible selling setups. Because it follows a classic price-action pattern, the indicator is easy to understand and works well across various currency pairs and timeframes.

If you want a clean, no-nonsense indicator that delivers straightforward entries, the Three Line Strike Indicator is an excellent choice. In this guide, you’ll learn how it works, how to trade with it, and how to maximize its performance using confluence with other tools.
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 What Is the Three Line Strike Indicator?

The Three Line Strike Indicator for MT4 is built on the classic Three Line Strike candlestick pattern. This pattern forms when three candles move in one direction—bullish or bearish—followed by a strong reversal candle in the opposite direction that engulfs all previous candles.

The indicator recognizes this pattern automatically and displays a visual arrow to show the potential trend shift.

 How the Buy/Sell Signals Work

Green Arrow (Buy Signal):
A bullish reversal candle closes after three consecutive bearish candles, signaling a potential upward movement. This is where buyers may step in.

Red Arrow (Sell Signal):
A bearish reversal candle closes after three consecutive bullish candles, indicating a possible downward trend shift.

These signals help traders quickly identify momentum reversals without manually scanning each candle.

 How to Use the Three Line Strike Indicator for MT4

Traders can use this indicator on any timeframe, but performance increases noticeably on higher timeframes such as H4 or Daily. Larger timeframes reduce noise and result in more reliable candlestick formations.

 Recommended Trading Strategy

Wait for the Arrow to Appear
Buy when a green arrow forms, sell when a red arrow appears.

Confirm with a Secondary Indicator
Since this tool doesn’t include stop-loss or take-profit levels, combining it with a supportive indicator increases accuracy.
Suitable confirmations include:

RSI or Stochastic Oscillator

Moving Averages

MACD

Support/Resistance levels

Place Your Stop-Loss

For buy trades, place SL at the recent swing low.

For sell trades, place SL at the recent swing high.

Take-Profit Options

Use horizontal support/resistance.

Use a 1:2 or 1:3 risk-to-reward ratio.

Trail trades with MA or ATR-based stops.

 Why Traders Prefer the Three Line Strike Indicator

 Easy to Use for Beginners

No complex settings or confusing rules—just follow the arrows.

 Based on Reliable Price Action

The indicator uses a proven candlestick reversal pattern widely recognized in technical analysis.

 Works on All MT4 Assets

Use it on forex, indices, metals, commodities, and even synthetic pairs.

 Accurate on Higher Timeframes

As with most price-action tools, accuracy increases as you move to H4 or Daily charts.

 Conclusion

The Three Line Strike Indicator for MT4 is a clean, effective, and beginner-friendly trend indicator based on the popular candlestick reversal pattern. Whether you’re a price-action trader or just need a simple arrow-based confirmation tool, this indicator can help you improve your entries and trade timing. For the best results, combine it with trend or oscillator indicators.

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