Stowell’s Three-Bar Net Line

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.

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).