The Three Line Break (3LB) is a charting method from Japan. The chart does not evolve as a function of time, but as a function of price movements. This filters out the noise to focus on the price movement that is deemed significant.
The chart is made up of green bullish blocks and red bearish blocks. At each new session close, there are 3 possible Three Line Break representations :
Thus, the formation of a first green block, or a first red block, indicates a trend reversal in a stockprice.
Our Three Line Break Reversal Indicator displays directly on the chart the reversals candles for the Three Line Break.
The display works on Three Line Break charts, as well as on Price Charts.
The indicator can be displayed on the chart or in a window below the price (like RSI for example).
The green and red dots on the images below are the first green / red blocks on the Three Line Break charts, and the corresponding candles on the Price chart.
The Signal Line, below the chart, is used to set an alert to warn you when the first green/red block appears.
The display is live while the candle is being built, so you can see the block being formed before it is validated at the closing.
A wide range of settings are available without modifying the code, in a very simple way in the "configuration" menu of the screener.
To detect stocks forming their first green / red block, use our Three Line Break Reversal Screener.
Availables filters :
Display options :
Video user guide (english subtitles available) :
Details of available settings :
Disclaimer
Our proposed tools (indicators and screeners) are not investment advices but tools allowing everyone to find specific graphic configurations.
Investing in the financial markets involves risks up to and including the total loss of capital.
The user of the proposed tools understands and accepts that the use of these tools is under his sole and entire responsibility. P2C Trading declines all responsibility in the use of the tools and the consequences that would result.
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