Three Line Strike Indicator MT5

The Three Line Strike (TLS) Indicator is a techncial analysis indicator that identifies the three line strike candlestick pattern, a relatively rare but significant reversal formation. This pattern consists of four consecutive candles:

• Bullish Three Line Strike: 

- Three consecutive bullish candles with higher highs and higher closes.

- Followed by a large bearish candle that opens above the previous close but closes below the first candle's open.

- Suggests a bearish trend continuation.

• Bearish Three Line Strike:

- Three consecutive bearish candles with lower lows and lower closes.

- Followed by a significant bullish candle that opens below the previous close but closes above the first candle's open.

- Indicates a bullish trend continuation.

The TLS indicator automatically detects these patterns and alerts traders visually in the MT5 chart, helping them make accurate trade decisions.  

1- In the first trading example on the MT5 platform, during an uptrend, three bearish candles appear, presneting an hesitation for traders. Furthermore, when a significant bullish candle engulfes the previous three candles, and with the appearance of a blue cercle at the beginning of the upcoming candle, this confirmed the continuation of the bullish movement and the trader could hold his long position or to enter long again in the EURCAD pair.

2- In the second trading example on the MT5 platform, during a downward trend, three bullish candles appear, presneting an hesitation for traders. However, when a significant bearish candle engulfes the previous three candles, and with the appearance of a yellow cercle at the beginning of the upcoming candle, this confirmed the continuation of the bearish movement and the trader could hold his short position or to enter short again in the GBPJPY pair.