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PZ Double Top Bottom MT5

This indicator finds double top and double bottom reversal patterns, and raises trading signals using breakouts.

  • Clear trading signals
  • Customizable colors and sizes
  • Implements performance statistics
  • Customizable fibonacci retracement levels
  • It displays suitable stop-loss and take-profit levels
  • It implements email/sound/visual alerts
These patterns can expand, and the indicator follows the pattern by repainting. However, the indicator implements a twist to make it easier to trade: it waits for a Donchian breakout in the right direction before signaling the trade, making its signals very reliable and mostly non repainting.

Input Parameters

  • Amplitude: The amplitude represents the minimum amount of bars between alternative price points. To find big patterns, increase the amplitude parameter. To find smaller patterns, decrease the amplitude parameter.
  • Min. Retracement: The minimum fibonacci retracement needed in a pattern.
  • Max. Retracement: The maximum fibonacci retracement possible in a pattern.
  • Max History Bars: Amount of past bars to evaluate when the indicator loads in the chart.
  • Display Stats: Show or hide the statistics dashboard and performance data.
  • Display SL/TP Levels: Show or hide the suitable stop-loss and take-profit levels for each signal.
  • Drawing Options: Colors and sizes for bullish or bearish lines and labels, as well as font sizes.
  • Breakouts: Colors and sizes for breakout arrows.
  • Alerts: Enable or disable alerts at will.


Author

Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.


tbosco
82
tbosco 2018.10.17 21:31 
 

Great indicator

Version 5.2 2019.04.19
- Small bug fix on alerts
Version 5.0 2019.04.16
- Drawing bug fix
Version 4.0 2019.04.16
- Added stats
- Added suitable SL and TP Levels