The Three Line Break indicator for MT5 is a popular and useful tool for forex traders. It works by identifying the trend reversal points based on the price action of the asset. Unlike traditional candlestick charts, the Three Line Break indicator does not take time into account, focusing solely on price movements. This indicator creates “lines” based on the closing price of the asset. A new line is formed only when the price moves above or below the previous lines by a predefined amount. This helps traders to quickly identify trend changes and make informed trading decisions. To use the Three Line Break indicator, simply add it to your MT5 chart and adjust the settings according to your trading strategy. The indicator can be used on any timeframe and for any forex pair, making it a versatile tool for traders of all levels. And the best part is, it’s free to use!
MT5
3 Line Break
Three Line Break indicator for MT5 is a useful forex tool that is popular among traders for its ability to accurately spot trends. This indicator is free to use and works by displaying vertical lines based on price movements. Traders can use this indicator to identify trend reversals and make informed trading decisions.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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