Double Top Scanner Multi Pair And Multi Time Frame
This indicator was created by a former hedge-fund employee and it automatically identifies double-tops and double-bottoms. It can also be used to identify triple-tops and triple-bottoms. And it includes and RSI trend-filter, in order to identify the formations that occur at the top (or bottom) of a trend.
This is an excellent tool for finding the strongest levels in the market. As any level that holds 2 or 3 times is obviously a level that is being defended by the large institutions. Therefore, there is a strong probability that a reversal will occur in these areas. And this probability is even higher in the case of a triple-top (or triple-bottom).
- See the screenshots below for further details and contact us if you have any questions. We are always happy to help. =)
- Please be aware that we have been selling the MT4 version of this indicator for over a year and you can check the reviews/comments here: https://www.mql5.com/en/market/product/14186
- Also make sure to watch our short video. As it includes the top-10 hedge-fund trading rules, that every trader should know.
- Monitors all 28 pairs at the same time. Apply the indicator to just one chart and instantly monitor the entire market.
- Monitors every timeframe, from M1 to MN, and sends you a real-time alert when a formation is identified.
- Type Of Bottom: Select the formation you wish to find. Doubles = Double-Tops and Bottoms, Triples = Triple-Tops and Bottoms
- RSI Period: Setting for RSI filter
- Upper Level: Overbought level for RSI filter. First top/bottom must form above this level in order to be valid.
- Lower Level: Oversold level for RSI filter. First top/bottom must form below this level in order to be valid.
- Bars Between: The minimum number of bars between tops/bottoms.
- Pips Distance: The number of pips within each top/bottom.
- Symbols: The indicator monitors the top 28 pairs by default, but you can select less pairs if you wish.
- Alert M1: True = Yes, False = No
- Alert M5: True = Yes, False = No
- Alert M15: True = Yes, False = No
- Alert M30: True = Yes, False = No
- Alert H1: True = Yes, False = No
- Alert H4: True = Yes, False = No
- Alert D1: True = Yes, False = No
- Alert W1: True = Yes, False = No
- Alert MN1: True = Yes, False = No