The 3 Line Break scalper indicator for Metatrader 5 is designed to generate reliable trend trading signals for scalpers and day traders.
It primarily utilizes the 3 line break trading pattern and appears as blue and red colored candles in the main chart.
To identify short-term buy and sell trends using this tool, follow these guidelines:
- A series of blue candles indicate a short-term bullish trend.
- A series of red candles indicate a short-term bearish trend.
You have the flexibility to modify the following indicator inputs and parameters: line break value, style, colors.
The 3 Line Break scalper works for any trading instrument supported by the Metatrader 5 charting platform.
It is recommended to familiarize yourself with this technical indicator and thoroughly test it on a demo account for an extended period of time.
Worth noting: scalpers and day traders can enhance their profit potential by utilizing the 3 Line Break scalper during the London and American trading hours.
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The picture below illustrates how the 3 Line Break Scalper indicator looks like when applied to the MT5 chart.
How To Buy And Sell Pairs With The 3 Line Break Scalper Indicator?
Find a simple trading strategy below:
- A buy signal is given when the blue colored 3 Line Break candle gets displayed on the chart (see chart example above).
- Start by placing a buy order and place a stop loss below immediate support.
- Exit the buy trade for 10-25 pips profit.
- Optional: close and reverse the buy trade when the red colored candle appears on the chart.
- A sell signal is given when the red colored 3 Line Break candle gets displayed on the chart (see chart example above).
- Start by placing a sell order and place a stop loss above immediate resistance.
- Exit the sell trade for 10-25 pips profit.
- Optional: close and reverse the sell trade when the blue colored candle appears on the chart.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the 3linebreak.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration