eSignal Study:  Based on the strategy by BruceM, described here and here.  The basic idea is, "When you have three, 5-minute bars in a row, with a matching low or high, that low or high will get traded back to on the same day."  This script helps identify when these situations occur.  When they are violated, the line is automatically removed, as it is no longer in play.  You may optionally disable this feature and all lines will remain.

In the example image, three (or more) 5-minute bars with the same low occur.  A line is automatically drawn alerting you of this situation.  On the next chart (be sure to click to enlarge the image), subsequent bars trade back down to that level (and lower).  Thus, the line is automatically removed. 

What this tells you is, when a "running triple" occurs (three lows), going LONG above this level is riskier until that level is re-touched or "filled". (The opposite would be true for thee highs.)  This is because, chances are, price should return to this level sometime within the same day.

IMPORTANT: This script requires the neoLibrary.efsLib.  You can download it here (free).