3 Line Strike + EMA / Owl of Profit

This script is based on the TMA Overlay by Arty and extended with an ATR and EMA filter for enhanced strategy conditions.

Features:

Detects Bullish and Bearish 3 Line Strike patterns:

Bullish: Three consecutive red candles followed by a large green engulfing candle.
Bearish: Three consecutive green candles followed by a large red engulfing candle.
Adds an EMA filter:

Bullish signals only trigger if the price is above the EMA.
Bearish signals only trigger if the price is below the EMA.
Uses ATR to calculate dynamic Take Profit (TP) and Stop Loss (SL) levels.

Includes alert conditions for automation or monitoring of key signals.

Strategy entries are based on combined candlestick patterns and trend validation.

Customization Options:

Adjust ATR and EMA lengths for flexibility.
Enable/disable specific signals (e.g., Bullish or Bearish 3 Line Strike).
This strategy is designed for educational and testing purposes. Use it as a foundation for further customization and backtesting on your preferred markets.

Visit my website for more tools and strategies: bybitindicators.com

Happy trading!