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Specification
I require a indicator that can be used to identify double-tops and triple-bottoms on multi currencys and multi timeframes.
It will include the RSI levels to alert for the double tops/bottoms that occur at the top (or bottom) of trends in charts.
The main foucs will be on double top/bottom, but being able to monitor for triple tops/bottoms should be a selectable option in the input parameters
When the indicator is attached to a single chart, say for instance a EURUSD it will montior multiple currencys and timeframes for the occurances of double top/bottoms in real time
When a top is detected a a alert is created to show the details of the bottm/top
Main Features
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Monitors multiple currency pairs at the same time.
When we apply the indicator a single chart it will monitor all the sybmols/currencys we have in our settings.
It will monitor multiple timeframes, from M1 to MN, as a double top/bottom occurs it will send a alert, via a alert popup in the termainal, record this to the logfiles and maybe have the option to send a push message.
It needs to work in backtesting
When backtesting this indicator it will be backtest on one curreny, and one timeframe at a time, the most important factor here is to have the detected alerts recorded to the log files
What the indicator will monitor
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montior prices in real time on charts selected (symbols, parameter) and in the amount of bars between (bars between, parameter)
create a alert if a double top/bottom occurs within the (pips distance, parameter)
record the alert to the logfiles in mt5
sample alert in the log file:
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Time of alert, Indicator name(currency,timeframe), Alert time of double top/bottom, Alert Price, Alert Decription Text, Price of first part of double top/bottom, Time of first part of top/bottom
16:54:35.487 Double_Top_Alerts (AUDCAD,H1) 2016.07.17 11:00:00 Price of alert = 1.04628 Alert: 2 Tops on AUDCAD H1. Price of first top = 1.04620, time of first top 2016.07.11 11:00
16:54:35.563 Double_Top_Alerts (AUDCAD,H1) 2016.07.17 23:00:00 Price of alert = 1.04586 Alert: 2 Tops on AUDCAD H1. Price of first top = 1.04620, time of first top 2016.07.11 11:00
Input Parameters for the indicator
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Type Of Bottom: Double-Tops and Bottoms / Triple-Tops and Bottoms
RSI Period: Setting for RSI Period (10,14) etc
RSI Upper Level: Overbought level for RSI filter. (example = 80) The first top/bottom must have occured above this upper level to be valid.
RSI Lower Level: Oversold level for RSI filter. (example = 20) The first top/bottom must have occured below this upper level to be valid.
Bars Between: The min bars between tops/bottoms.
Pips Distance: The number of pips between the alerts of each top/bottom.
Symbols: The curency pair/pairs the indicator monitors. either a single pair , (example = EURUSD) or multiple pairs (example = EURUSD,USDJPY,GBPUSD,CADJPY,AUDCAD,NZDUSD ( upto 25-30 pairs))
Alert on M1: True,False
Alert on M5: True,False
Alert on M15: True,False
Alert on M30: True,False
Alert on H1: True,False
Alert on H4: True,False
Alert on D1: True,False
Alert on W1: True,False
Alert on MN1: True,False