Bullish & Bearish Three Line Strike Pro

Hello Traders!

Overview
The **Bullish & Bearish Three Line Strike Pro** indicator pin-points one of the most decisive four-candle reversal formations on any market or timeframe. Whether you trade ranges or follow strong trends, this tool spots exhaustion and offers clear entry and exit guidance.



Key Features:

1. Precise pattern detection: Detects genuine Bullish and Bearish Three Line Strike setups, screening out look-alikes that fail to perform on the market.
   
2. Trend filter (optional): Aligns signals with a user-defined Simple Moving Average (SMA) so you can choose to trade only with, or deliberately against, the prevailing trend.
   
3. Visual clarity: Highlights Bullish and Bearish Three Line Strike patterns with customizable colors and shapes, making them easy to spot on the chart.
   
4. Filtered-signal display: Let the script reveal which patterns were rejected by the trend filter — an invaluable learning aid.
   

Bullish Three Line Strike

• Three consecutive bearish candles that step lower.
  
• The fourth candle opens below (or at) the last close, then charges upward engulfing all three prior bodies.
  

Bearish Three Line Strike

• Three consecutive bullish candles that step higher.
  
• The fourth candle opens above (or at) the last close, then plunges below engulfing all three prior bodies.
  

What makes this indicator unique

• Precise pattern detection: Detects genuine Bullish and Bearish Three Line Strike setups, screening out look-alikes that fail to perform on the market.
  
• Trend filter (optional): Aligns signals with a user-defined Simple Moving Average (SMA) so you can choose to trade only with, or deliberately against, the prevailing trend.
  
• Visual clarity: Highlights Bullish and Bearish Three Line Strike patterns with customizable colors and shapes, making them easy to spot on the chart.
  
• Filtered-signal display: Let the script reveal which patterns were rejected by the trend filter — an invaluable learning aid.
  
• Nuanced candle analytics: Goes beyond simple price action by considering multiple factors such as candle body ratios, wick lengths, and relative positions to previous candles.
  
• Adaptive learning mode: Display rejected setups to reverse-engineer the logic and refine your discretionary skills.
  
• One-glance decision making: Unified color scheme and label styling make patterns pop, even on cluttered layouts.
  

How to Trade with this Indicator
Use Three Line Strike Pro to fade exhaustion or re-enter a trend after a healthy pull-back.



Bullish opportunities: Watch for light blue-colored strike candles as potential entry points.
Bearish opportunities: Look for orange-colored strike candles as potential entry points.

• Entry: Open the position at the next bar’s open once the strike candle closes.
  
• Stop-loss: 2 ticks beyond the extreme of the complete four-candle pattern.
  
• Aggressive stop-loss: For exceptionally strong strike candles (tiny opposite wick, close near extreme) trail only 2 ticks beyond the strike candle itself.
  
• Take-profit: Aim for 2R (3R for aggressive traders), or trail behind higher lows / lower highs.
  

Trend Alignment
For a conservative approach, enable "Use Trend Filter" and take only those strikes that agree with the SMA slope. The SMA line is color-coded—lime for up, red for down, yellow for flat—to help you confirm bias at a glance.

Tip: If you want the candle coloring to sit on top of all other studies, drag the indicator to the top of your Object Tree.