Used in any time frame, and it identifies trend changes using Stowell patterns.
The indicator plots two Stowell patterns on the right edge of the chart: upper and lower. A breakout of the three candle line means (by Stowell) a change in the trend.
Both files must be compiled. Only the second file is attached to the chart (3clinetf.mq4).
- The BreakOnly=false parameter means that any formed patterns will be plotted (fig. 1).
- The BreakOnly=true parameter means that only the formed patterns, that had a breakout, will be plotted (fig. 2).
This is a multi-timeframe indicator. The timeframe is specified by TF (TF=0 means the timeframe of the current chart).
MT4 Indicators – Download Instructions
Stowell’s Three-Bar Net Line is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Stowell’s Three-Bar Net Line provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Stowell’s Three-Bar Net Line.mq4?
- Download Stowell’s Three-Bar Net Line.mq4
- Copy Stowell’s Three-Bar Net Line.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Stowell’s Three-Bar Net Line.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Stowell’s Three-Bar Net Line.mq4 is available on your Chart
How to remove Stowell’s Three-Bar Net Line.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete