Tristan's Three Line Strike PatternThree Line Strike Indicator (5-Minute Timeframe)
This indicator highlights Three Line Strike candlestick patterns on a 5-minute chart . The Three Line Strike is a rare four-candle formation that often signals trend continuation rather than reversal.
Bullish Three Line Strike (green “3LS long” above the candle):
Three strong bullish candles in a row are followed by a large bearish candle that completely engulfs the prior three. Despite looking bearish, this setup often indicates strength in the uptrend.
Bearish Three Line Strike (red “3LS sell” below the candle):
Three consecutive bearish candles are followed by a large bullish engulfing candle. Although it looks like a reversal, the downtrend commonly resumes.
How to use on the 5-min chart:
Watch for the labels marking the pattern.
A bullish signal suggests that the upward move is likely to continue after the engulfing candle.
A bearish signal suggests that the downtrend is likely to continue after the engulfing candle.
These signals are not entry/exit triggers on their own—I suggest you combine them with trend confirmation (e.g., moving averages, momentum indicators, or volume analysis) before acting.
Use good risk management, and don't buy / sell based on these indicators alone.
3strike
Bull & Bear Engulfing - 3 Strike and 180 CandlesHello, SenatorVonShaft here.
This indicator shows 3 differend candlestick formations:
1- Bullish & Bearish Engulfing Candle
2- Bullish & Bearish 3 Strike Candle
3- Bullish & Bearish 180 Degree Candle
It has 3 variables
1- Bar Fullness - Differs from %50 - %100 showing 1 candle's fullness
2- Avg. Backwds Candls - Gets the average weight of the backward candles
3- Avg. Bar Height Multiplier - This variable is multiplied by above value to determine engulfing candles.
Plots:
- Green & Red Arrows Only : Shows Bullish & Bearish engulfing candles
- Green & Red 180 : Shows a bullish or bearish engulfing candle taken over by a bigger opposite candle
- Green & Red 3S : Shows bullish & bearish 3 strike candle formation
Please feel free to comment your thoughts below.
See you.
