spreadsheets, I recommend checking out Steve Nisons excellent book Beyond Candlesticks. From the two daily charts below on the gbpusd, notice on the 3 line break chart, how much easier it is to spot reversals in the price and how much clearer the data looks over the traditional candlestick chart: Candlestick Chart: 3 Line Break: Setting. SharpCharts, three Line Break Charts can be drawn in SharpCharts by selecting Three Line Break for Type under Chart Attributes. A close below this low would call for a black line to note a price reversal. Click here for a live example. In this article, I explain what 3 line break charts are, give ideas for trading them and show the backtested results of a profitable trading strategy.
3 Line Break charts like its cousins the Renko chart and Point and Figure chart, ignores time and only updates when prices move by a certain criteria. Keep in mind that only the most recent line must be white (up). Trading Strategy, the test was straightforward. For real-time market news and analysis follow. The uptrend reversed when prices moved below the low of the prior three white lines (4). It was intended to find out whether 3 line break charts can be a useful part of a trading strategy. I urge you to investigate the 3 Line Break chart further. A clue to understanding these charts is in the name; they are a type of breakout forex ea generator 7 crack chart. These spreadsheets are great for anyone with some basic Excel skills to set up and test their trading strategies. A Profitable 3 Line Break Trading Strategy. Three Line Break charts show a series of vertical white and black lines; the white lines represent rising prices, while the black lines portray falling prices. I have also not filtered trade entries by time of day.
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