Switch your charts from Candlestick to Bar charts for a better view of the indicator. Review the indicator settings: instead of default 3 Line break you can test it later with forex order flow mt4 expert or 5 line breaks or more.
After reading the indicator description below, you’ll know how it works. 3Linebreak indicator was written based on the rules 3 line break method – 3 line break charts. It’s a simple yet fundamental method, based on the price action rather than time. 3 bullish bars before a bearish bar can be drawn. 3 consecutive bearish bars, then in order to draw a new bullish bar, the price should rise above the highest point of the 3 last bearish bars.
3 Line break charts look clear and pretty even on 1 minute time frame. Since there are no fixed price margins and no time parameters being involved, the price is able to guide us through trends and reversals. 3 Line Break method is not for those traders who are looking for market tops and bottoms, as the indicator will need time to confirm trend reversal, but rather for those who are willing to accept delays in exchange for the ability to be in the right trend. This indicator is not working as it should, not accurate posting signals. USD pair on the daily time frame you would notice that the bar of the 22 of August is painted as a bullish bar which should notn be the case. I had downloaded it earlier some 1 year back but it is not available now. I have forgot its exact name.
There thousands MT4 custom indicators available for Forex trading. Which one to try out first? Many custom MT4 Forex indicators need further explanation and trading instructions before anyone can actually use them. Reviewing a list of preferred MT4 indicators, tested by someone else is much easier! Woodie, Gann and Forex-freedom rules !
Fell free to ask about any indicator, and I’ll review it for you. 4 candlesticks indicator description is added. From above indicators, what resembles SMA,WMA and EMA, that could somehow forecast the next upcoming movements? From above indicators, what are 3-4 combinations that could confirm and affirm signals? 3-4 combination, is it possible to make an EA on that? Heiken-ashi can be confirmed by BBands_Stop or Laguerre indicator.