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For gamma-ray bursts (GRBs) with a plateau phase in the X-ray afterglow, a so called $L-T-E$ correlation has been found which tightly connects the isotropic energy of the prompt GRB ($E_{\gamma,\rm{iso}}$) with the end time of the X-ray plateau ($T_{a}$) and the corresponding X-ray luminosity at the end time ($L_{X}$). Here we show that there is a clear redshift evolution in the correlation. Furthermore, since the power-law indices of $L_{X}$ and $E_{\gamma,\rm{iso}}$ in the correlation function are almost identical, the $L-T-E$ correlation is insensitive to cosmological parameters and cannot be used as a satisfactory standard candle. On the other hand, based on a sample including 121 long GRBs, we establish a new three parameter correlation that connects $L_{X}$, $T_{a}$ and the spectral peak energy $E_{\rm{p}}$, i.e. the $L-T-E_{\rm{p}}$ correlation. This correlation strongly supports the so-called Combo-relation established by Izzo et al. (2015). After correcting for the redshift evolution, we show that the de-evolved $L-T-E_{\rm{p}}$ correlation can be used as a standard candle. By using this correlation alone, we are able to constrain the cosmological parameters as $\Omega_{m}=0.389^{+0.202}_{-0.141}$ ($1\sigma$) for the flat $\Lambda$CDM model, or $\Omega_{m}=0.369^{+0.217}_{-0.191}$, $w=-0.966^{+0.513}_{-0.678}$ ($1\sigma$) for the flat $w$CDM model. Combining with other cosmological probes, more accurate constraints on the cosmology models are presented., Comment: 26 pages, 13 figures, ApJ, accepted

A plateau phase in the X-ray afterglow is observed in a significant fraction of gamma-ray bursts (GRBs). Previously, it has been found that there exists a correlation among three key parameters concerning the plateau phase, i.e., the end time of the plateau phase in the GRB rest frame ($T_{a}$), the corresponding X-ray luminosity at the end time ($L_{X}$) and the isotropic energy of the prompt GRB ($E_{\gamma,\rm{iso}}$). In this study, we systematically search through all the \emph{Swift} GRBs with a plateau phase that occurred between 2005 May and 2018 August. We collect 174 GRBs, with redshifts available for all of them. For the whole sample, the correlation between $L_{X}$, $T_{a}$ and $E_{\gamma,\rm{iso}}$ is confirmed, with the best fit relation being $L_{X}\propto T_{a}^{-1.01}E_{\gamma,\rm{iso}}^{0.84}$. Such an updated three-parameter correlation still supports that the central leftover after GRBs is probably a millisecond magnetar. It is interesting to note that short GRBs with duration less than 2 s in our sample also follow the same correlation, which hints that the merger production of two neutron stars could be a high mass magnetar, but not necessarily a black hole. Moreover, GRBs having an "internal" plateau (i.e., with a following decay index being generally smaller than -3) also obey this correlation. It further strengthens the idea that the internal plateau is due to the delayed collapse of a high mass neutron star into a black hole. The updated three-parameter correlation indicates that GRBs with a plateau phase may act as a standard candle for cosmology study., Comment: 35 pages, 8 figures, 3 tables, accepted by AAS Journal