This indicator for ProRealTime, Double Top–Bottom Pattern identifies the “double top” and the “double bottom” price patterns. It works on all markets and for any timeframe! See examples below.
HOW THE INDICATOR WORKS:
This pattern is as simple as it is effective, the double top or the double bottom indicate a possible reversal of the trend.
Interface of the indicator:
- ZigZagPerc : Enable or disable the PricePercent variable.
- PricePercent: Value of the percentage difference between a new high and a new low. This variable affects the size of the Pattern.
- Dynamic: Enable or disable the dynamic variable.
- Factor: Variable of the “Dynamic” function, this function allows automatic detection of patterns based on market volatility.
- ZigZagVal: Enabled or disabled the PointsValue variable.
- PointsValue: Value of the difference expressed in points, between a new maximum and a new minimum. This variable affects the size of the Pattern.
- FractalPoint: Enable or disable the Period variable.
- Period: Value of the time difference, between a new maximum and a new minimum. This variable affects the size of the Pattern.
- Accuracy: variable, it is possible to search for patterns with an accuracy in a range between 0 and 100%. Accuracy makes it possible to establish the alignment of the two maxima, or of the two minimum. You can observe a wide variety of patterns without discarding any possibility, or you can have an opportunity to have filtered too severely. 90% is the default threshold, but it is up to you to configure this parameter according to your own style!
- Extension: This variable allows to lengthen the area of potential inversion by “n” bars, which is created with the occurrence of a double maximum or double minimum
- Delay: Enable or disable the redrawing function of the early break indication, of the zone of potential inversion.
- DoubleTop: Enable or disable the search for the Bearish Pattern.
- DoubleBottom: Enable or disable the search for the Bullish Pattern.
- View: Enable or disable the visual of the reversal boxes
- ZigLine: Show Zig Zag line to set the parameters quickly
Advantages of using the “double top-bottom pattern” indicator
- Automatically identifies the double top and the double bottom patterns
- Compatible with all instruments
- Compatible with all ordinary timeframes and even on tick-charts!
- Compatible with Heikin ashi, Renko, Ticks, Kagi, Three Line Break, and more
- Patterns are completely customizable to suit your own trading style
- The indicator does not repaint! The signal is given in real-time and allows you to operate without any delay
- The indicator can be integrated into any indicator, using ProRealTime’s ProBuilder function
- The indicator can be integrated into any automated trading strategy, using ProRealTime’s ProBackTest and ProOrder function
- The indicator is sold with a ProScreener program (included for the same price), that scan the patterns in realtime, on any market and for any compatible timeframe