The Three Line Break indicator is a useful tool for Forex traders looking to identify trends and potential entry points in the market. This popular indicator, available for free on the MT4 platform, works by plotting “lines” based on price movements, rather than time intervals. Unlike traditional candlestick charts, which are based on time intervals, the Three Line Break indicator focuses solely on price movements. It works by breaking the previous high or low price to create new lines, helping traders easily identify trends and reversals in the market. To use the Three Line Break indicator, traders can look for patterns of consecutive lines in the same color, indicating a strong trend. Traders can then use this information to make informed decisions about entering or exiting trades. Overall, the Three Line Break indicator is a valuable tool for Forex traders seeking to improve their trading strategies.
MT4
Three Line Break
The Three Line Break indicator is a popular and useful forex indicator available for free on MT4. It works by creating vertical boxes that are based on price movements, rather than time. Traders can use this indicator to identify trends and make informed trading decisions. Simply add the indicator to your chart and adjust the settings to suit your trading strategy.
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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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