stowell's three-bar net line
Info
The stowell's three-bar net line is a Indicator for MetaTrader 4 that 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.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use stowell's three-bar net line
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
the indicator plots two stowell patterns on the right edge of the chart: upper and lower.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: i-am m a - another powerful indicator for MetaTrader 4 traders.
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.
Also recommended: sidus - similar indicator with strong performance on MetaTrader 4.
both files must be compiled. only the second file is attached to the chart (3clinetf.mq4
).
input parameters:
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).
You may also like: 10 minute trader - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
#property indicator_chart_window
#property indicator_buffers 4
double dnbars[],upbars[],dnvalues[],upvalues[];
int m1,m2,m3,n1,n2,n3;
int d;
int bbar=0;.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.