Double Top Bottom

Double Top Bottom indicator combines double bottom, double top patterns, price action and breakout in order to spot market reversals.

Indicator displays trading statistics and clear entry signals with green (buy) and red (sell) arrows.

MT4, email and push alerts can be enabled.

Never repaints signals.

Features

• Instantly available statistics of up to 1000 signals;
• Very simple to use, no complicated inputs;
• Unique high quality strategy calculating and combining double top & bottom, price action patterns and breakout;
• Possibility to tweak pattern accuracy;
• MT4, email and push notifications;

Strategy

• SELL ENTRY: enter on red arrow;
• SELL EXIT #1: fixed SL and TP or additional indicator;
• SELL EXIT #2: close on opposite (BUY) signal;
• SELL EXIT #3: near previous day's low;
• BUY ENTRY: enter on green arrow;
• BUY EXIT #1: fixed SL and TP or additional indicator;
• BUY EXIT #2: close on opposite (SELL) signal;
• BUY EXIT #3: near previous day's high.

Statistics

• OPEN TRADES: quantity of active signals;
• LONGS: quantity of active buy signals;
• SHORTS: quantity of active sell signals;
• SIGNALS: quantity of past (expired) signals;
• POSITIVE SIGNALS: quantity of profitable past (expired) signals;
• TOTAL PIPS: quantity of pips from all past signals;
• AVERAGE MOVE PIPS: average pips earned from profitable past (expired) signals (can be used as a profit target);
• POSITIVE %: percentage of profitable signals.

Inputs

• Candles from history to get stats: You can increase this value to get instant statistics of up to 1000 signals (will require 15000-20000 candles) for a given pair;
• Virtual Fixed SL: user defined fixed SL to use for statistical analysis;
• First Virtual TP Target: user defined fixed TP to use for statistical analysis;
• Second Virtual TP Target: used defined fixed TP to use for statistical analysis;
• Minimum Pips For Breakout: minimum amount of pips to confirm breakout;
• Maximum Active Signals Per Instrument: Indicator won't display more signals till previous ones are closed either by Virtual Fixed TP or Virtual Fixed SL;
• Maximum Active Buy Signals Per Instrument: Indicator won't display more buy signals till previous ones are closed either by Virtual Fixed TP or Virtual Fixed SL;
• Maximum Active Sell Signals Per instrument: Indicator won't display more sell signals till previous ones are closed either by Virtual Fixed TP or Virtual Fixed SL;
• Max Leg Price Difference: maximum difference in pips between the two legs;
• Enable alerts;
• Enable Email Notification;
• Enable Push Notification;
• Info Panel Color: Information Panel's background color;
• Support Line Color: Color of the line of support displayed on the chart;
• Support Line Thickness;
• Resistance Line Color: Color of the line of resistance displayed on the chart;
• Resistance Line Thickness;
• Buy Signal Color: Color for Buy Signal's trend-line and Arrow;
• Sell Signal Color: Color for Sell Signal's trend-line and Arrow.