1-3 Trendline Breakout - Mt4 Indicator
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This indicator scans the 1-3 Trendline pattern . The indicator is a 100 % non repaint low risk breakout system. The patterns are formed around swing high and swing lows which make them a low risk pattern with high reward.
The 1-3 Trendline Breakout pattern is formed by four(4) points which are composed of three (3) primary points and the pattern neck. A trendline is always formed by the point 1 and the neck of the pattern . When price breaks out of the trendline formed , it usually indicates a shift in supply and demand and thus a possible new trend. The 1-3 Trendline Pattern occurs in every market and it is formed by supply and demand. This means the pattern is not limited to forex market only but can also be used to trade commodities are stocks.