The Three Line Break, 3LB, is a charting method based on price movements rather than the regular progression of time. It filters out some intermediate price fluctuations to highlight significant price movements.
The chart consists of green bricks during bullish moves and red bricks during bearish moves. A new brick is only formed when the price movement meets the conditions required for its creation; otherwise, no new brick appears.
After a succession of bricks of the same colour, the appearance of a first brick of the opposite colour marks a reversal in the Three Line Break representation. This configuration can be used as a trading signal to identify a potential change in market direction.
The Three Line Break (3LB) Screener scans the markets for stocks forming a first green brick or a first red brick. It allows you to quickly find Three Line Break reversal configurations across the markets.
Results are sorted according to the colour of the first brick detected.
A general filter applied on the daily timeframe, based on price and trading volume, allows you to select the desired level of liquidity.
Many parameters allow you to adapt the search to your own criteria. All settings can be adjusted directly from ProRealTime's “Variables” menu, without modifying the code.
Available filters:
General filtering:
Video presentation:
Details of available settings :
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Disclaimer
Our proposed tools (indicators and screeners) are not investment advices but tools allowing everyone to find specific graphic configurations. The automated trading systems offered have been developed and optimised using historical data; however, past performance is no guarantee of future results. Investing in the financial markets involves risks up to and including the total loss of capital. The user of the proposed tools understands and accepts that the use of these tools is under his sole and entire responsibility. P2C Trading declines all responsibility in the use of the tools and the consequences that would result.
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