Double Top and Double Bottom
- Indicatori
- Rajesh Kumar Nait
- Versione: 1.2
- Aggiornato: 27 gennaio 2024
This indicator finds
Double Top and Double bottom
Example : What is Double Top
When price establishes a new high and then falls, then reverse to the same candle area of High then its considered a valid double top and vice versa for double bottom.
1. It plots and high and low on visible chart if ChartChange is set to true else it searches on new bar opening
2. If there is double top and double bottom found in visible chart window then it plots a line
3. It has options to customize text color, text font, text size, line width, line style and line color
4. Customize the logic of Double top and bottom
logic 1 : How much price should extend? For e.g. in top bar 1 = range of 1xbar size, if you add 2 then its 2x bar size, vice versa for bottom bar
logic 2 : How much percent of price should come back to top or bottom bar to validate a double top
5. Added alert, Terminal, Mail, Push Notification when Double top or bottom is found on new bar opening.
This is an added benefit to my trading algorithm. Thank you very much so this great indicator.