Three Line Break (TBL) Indicator (MT4) - Free Download - Best Forex Indicators

Introduction to the Three Line Break Indicator

The Three Line Break Indicator (TLB) is a forex trading tool represent a raw of the vertical rectangle, the height of which is determined by the value of price changes. These charts – like Kagi, P&F, Renko – do not consider the time factor. This graphical method is named after the number of lines usually used to register a break.

This indicator is displayed in a separate window place just below the main trading chart.

It fits all kinds of timeframes and currency pairs.

The default indicator settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.

How does it work? How to apply in trading?

Trading Rules Explanation

If you wonder how to trade using the TBL indicator, simply follow the suggestions below.

Buy Entry: Open long trade after three consecutive red lines, plus a blue line appears (“the blue reversal line”).
Sell Entry: Open short trade after three consecutive blue lines, plus a red line appears (“the red reversal line”).

Do not trade when there is no stable trend, i.e. when blue and red lines alternate.

As always, to achieve good results, remember about proper money management. To be a profitable trader you need to master discipline, emotions, and psychology. It is crucial to know when to trade, but also when not to trade. Avoid trading during unfavorable times and market conditions like low volume/volatility conditions, beyond major sessions, exotic currency pairs, wider spread, etc.

See also:
Vulkan Profit Indicator

How to set up the Three Line Break indicator in MT4?

Installation Guide

Copy and paste the TLB.mq4 or TLB.ex4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.

You can gain access to this folder by clicking the top menu options, that goes as follows:

File > Open Data Folder > MQL4 > Indicators (paste here).

Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.

Free Download

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Bottom Line

The Three Line Break indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.