3LPB chart and techiques

Three-Line Break charts (3LPB) display a series of vertical boxes that are based on changes in prices. The 3LPB method entirely dispenses with the recording of the volume sales and time data.The other major charting techniques like Point& Figure, Kagi and Renko Charts also ignore thepassage of time and volume. Three-Line Price Break charts are mainly used to confirm the underlying trend, trend-reversals and the balance of supply and demand. On many occasions “3LPB” charts show this ideal information developing while conventional charts (Bar, Candle) show nothing more than a temporary halt in a

trend. Two important points to consider while using 3LPB are the timing of the ‘reversal bar’ and

‘confirmation’ of the trend. A Reversal bar is generated when three successive bullish (WHITE) or

bearish (BLACK) bars are formed and today’s price is traded below the lowest of all prior three

WHITE bars (in case of bearish reversal) and vice-versa. The drawback for 3LPB charts is a trend-

reversal bar could be late, as substantial move might have already happened. But many traders are

willing to wait for the trend-confirmation as it involves a trade-off between risk and reward. Traders can also adjust the sensitivity of the 3LPB charts for 2, 5-Day Price Line break charts. Overall, 3LPB charts are very valuable tool in addition to the conventional charts to any technician’s arsena.

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