Packs: Three Line Break Reversal

Three Line Break Reversal Pack

Find Three Line Break reversals !

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 :

• a new block in the same colour as the current trend is created if the price has moved in the same direction as the trend,
• a new block in the opposite colour to the current trend is created if the price has moved in the opposite direction to the trend and by a sufficient amount to justify a trend reversal,
• no block is created if the price has not moved sufficiently to justify the creation of a block, as in the 2 cases above.

Thus, the formation of a first green block, or a first red block, indicates a trend reversal in a stockprice.

Description

The pack includes :

• Three Line Break Reversal indicator
• Three Line Break Reversal screener

The Three Lien Break Reversal screener scans the market for stocks that are forming a Three Line Break reversal. Therefore, screening fos tocks that are forming a first green block or a first red block.

Results are sorted in the "Green / Red" column :

• 1 = 1st green block,
• -1 = 1st red block.

A general filtering on the daily timeframe is done on the stock price, as well as the exchange's volume. This filtering guarantees the stocks appearing in results are in your liquidity criteria.

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.

All settings are available without modifying the code, in a very simple way in the "variables" menu of the screener end in the configuration menu of the indicator.

Availables filters :

• Search for 1st green block,
• Search for 1st red block..

General filter :

• Minimum stock price,
• Minimum average volume,
• Average volume expressed in transaction number or in capital exchange.

Video user guide (english subtitles available) :

Details of available settings :

Download Guide

Characteristics

• Works on all TimeFrames,
• ProRealTime V11 and later versions compatible,
• Free ProRealTime (daily closings) compatible,
• Automatic and free updates for life.

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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.