Market / MetaTrader 4 / Indicators /

Double Top Tracker

70 USD

Demo downloaded: 1 201

Published: 14 December 2017

Current version: 3.1

Double Top Tracker

4.47

Indicators
Dorian Baranes
Version: 3.1
Updated: 1 February 2019
Activations: 5

This indicator analyzes in parallel price charts for multiple currency pairs on all timeframes and notifies you as soon as a double tops or double bottoms pattern has been identified.

Definition Double Top / Double Bottom pattern

Double Top is a trend reversal pattern which are made up of two consecutive peaks that are more and less equal with a trough in-between. This pattern is a clear illustration of a battle between buyers and sellers. The buyers are attempting to push the security but are facing resistance, which prevents the continuation of the upward trend. After this goes on a couple of times, the buyers in the market start to dry up, and the sellers start to take a stranglehold sending it down into a new downtrend. This is a strong sign that a reversal is going to occur because it is telling us that the buying pressure is just about finished.

Double Bottom is the opposite chart pattern of the double top as it signals a reversal of the downtrend into an uptrend.

Features

Loads automatically historical price data from broker server
Tracks all currency pairs for all timeframes in parallel
Configures which currency pairs on which timeframes you want to be alerted
Estimate profit target for each identified double top/bottom

Inputs

Double Top/Bottom settings

Filter Type - Choose when you want to receive the alert. It is either when the second top has been reached or the neck line has been broken. See product screenshot for more explanations;
Bars Interval - Minimum of bars between peaks;
Peak Distance - Maximum price distance between peaks (unit in pips);
Trend Distance - Minimum distance between the beginning of the trend and the neck (unit in pips);
Lot Size - Used to compute target profit

Currency Pairs and Timeframes

Symbols - Currency pairs to monitors. Each pairs are separated by a coma and the name has to be identical to symbol name displayed into the Market Watch;
M1 - True to monitor this timeframe;
M5 - True to monitor this timeframe;
M15 - True to monitor this timeframe;
M30 - True to monitor this timeframe;
H1 - True to monitor this timeframe;
H4 - True to monitor this timeframe;
D1 - True to monitor this timeframe;
W1 - True to monitor this timeframe;
MN1 - True to monitor this timeframe;

Notification

Alert Notification - True to enable messages in the terminal when signals occur;
Push Notification - True to enable sending push notifications to mobile devices;
Mail Notification - True to enable sending emails;
User Comment - Add comment on the notification message;

more...

585

Sandy Wahyudi 2019.02.17 16:35 #

Great indicator for price action entry

C2E6ADAD 2019.02.09 07:57 #

Awesome

only had this a few days, i work on M W formations and this helps me a lot and confirms my entry points.

with the scanner you don't have to keep searching charts this dose it for you,then all you do is choose the one that suits you.

as i say i am still testing this but so far each alert would have been a very profitable trade, well done Dorian

200

pffaustt 2019.01.19 17:46 #

Super product! Works as described and if used correctly can be a game changer. Sends notification when top or bottoms hit, based on your settings. The panel is clean and easy to understand. When clicked, charts open up with indicator marking location of Hi/Lo and neckline. The alerts panel could be better and that's why only 4 stars. It should clarify which target has been hit ie: "Bottom: Neck Line Reached". It would also be great to have a "Custom Title" box at the top of main panel, making it easier on us who have 4-5 different searches running. Even allowing a color change for main panel would help with this (Blue for Double Top/Bottom, Red for Neckline etc). These would be super simple changes that would take next to no effort and provide added benefit. I'd be happy to come back and change to Five Stars if implimented. Overall, great value and great product with room to become even better.

UPDATE Feb 5/19: Upgrading rating to 5 star. Seller has been great at listening + replying to requests and also making changes that are reasonable. Thanks again

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8601567 2020.12.18 22:38 #

Once again, another indicator with all kinds of potential, but does not perform as well as I thought it would. I like that it identifies the pattern and you are able to click on the chart identified. However, when you click the box that identifies the DT/DB, the chart pattern opens another chart and you have to flip back and forth. I think it should remain on the same chart as the details.

310

Domenico Bruno Di Pino 2019.06.25 18:37 #

I purchased the indicator but it only has 17 pairs in the tracker, how do I add more pairs to it? I tried typing them in but it didn't work? Help would be appreciated

val1986 2019.05.22 17:09 #

BAD

585

Sandy Wahyudi 2019.02.17 16:35 #

Great indicator for price action entry

C2E6ADAD 2019.02.09 07:57 #

Awesome

only had this a few days, i work on M W formations and this helps me a lot and confirms my entry points.

with the scanner you don't have to keep searching charts this dose it for you,then all you do is choose the one that suits you.

as i say i am still testing this but so far each alert would have been a very profitable trade, well done Dorian

200

pffaustt 2019.01.19 17:46 #

UPDATE Feb 5/19: Upgrading rating to 5 star. Seller has been great at listening + replying to requests and also making changes that are reasonable. Thanks again

804

Dmitry Karagusov 2018.12.19 16:11 #

Little useful

avexzek 2018.11.22 08:56 #

It will be perfect if the phone notification can include more details ....

like what I see at the MT4 program ( First top. Second top, and Neck, as well as reached time)

as I have set notification for both reached neck and reached second top !!

Currently.. my phones notification doesn't show enough details and unless I'm in front of my PC ...

Hope developer can improve it !!

danypp 2018.11.15 21:09 #

Very good indicator. Multiframe mode works very good

1955

Memon 2018.11.06 13:13 #

User didn't leave any comment to the rating

1470

Zentrader2015 2018.06.13 00:58 #

great indicator.

399

jeff0170 2018.05.01 13:11 #

I rented the indicator.

Since yesterday made 4 trades and completed in profit.

Thanks for that.

3363

rainwalker123 2018.04.19 12:06 #

First of all, the price is really fair for testing it.

The only thing you need is patience, and the right leverage thats all, because the signals are very precise, and you will be allways in profit, because of using higher timeframes.If you trade the Daily chart for example, set a realistic target before the neckline.

The indicator is not repainting!!! WoW

Update: 18.04.2018

The Author fixed all the bugs, and the software is running very well now

I did a short trade yesterday on daily Chart GBP/USD, double top. I entered short with 3 CFDs and now, I am over 100 Points in Profit, total 300€uro.

You dont have to be a slave anymore in front of your screen, wasting time with analysing charts and loosing lots of your valuable lifetime.

This is best product@MQL5 so far, done by a real professional.

PS:

I recommend especially the higher timeframes 1H,4H,D1

If target is 50 points down(short) for example, after a double top formed, you can break down the risk, by taking just 30 points. Dont be greedy

One or two trades a day, thats it traders :-)

1653

Ted NO FX 2018.03.30 23:32 #

I love this double top/bottom indicator, it is very acurrate and profitable.. You need to be patience to hold trades and dont close them too early. Very good support from Author Dorian :) Finally i found a good indicator on Mql5 Market. As Rainwalker said, there is some bugs needs to be fixed. Best regards Ted Fx!

1506

Morard Kevin 2018.03.28 17:27 #

Super indicateur ! très précis et très reactif

860

Daniel 2018.03.20 22:11 #

Great Support great Product. I will give 5 Stars.

8723

sunnychow 2018.03.10 16:53 #

The signal is sounds good

273

cllatser 2018.02.11 16:22 #

Good morning traders.

I bought this indicator a few days ago and I have to say that I like it a lot. I do not give it 5 stars why it should be perfect. It is an ideal tool to monitor that pattern that together with the action of the price can give very good results. Thank you very much.

Review updated on 02/11/2018.

After asking for a small change to the author. The author has implemented it and is now a perfect tool for this type of figure (Double Top and Double Button).

Thanks.

Annatas 2017.12.28 10:09 #

Hi traders!

I trade now for 3.5 years and can tell you honestly that this is my first important indicator that gives very, very strong signals.

It are most of the time reversal signals, as example when i get an H1 signal then i check the chart to see if i can expect a better reversal support or resistant level and then place my trade.

I use this indicator about 7 days i think and find this the best indicator on this moment on the MQL5 market and with a very sharp price.

I can tell you also that i have tested so many indicators over the past three years and ofcourse also interesting ones but until now i'm very happy with this one!

Good work, keep it going :)

Version 3.1 2019.02.01

- New parameter User Comment. The comment will appear on the notification messages (Alert / Push Notification / Mail)
- Add on the notification the used filter type

Version 3.0 2018.04.16

- Increased refresh frequency of the signal
- More currency pairs on the default parameters
- Added the first target price
- Auto calculation of first target profit based on lot size input

Version 2.0 2018.03.06

- Additional filter to notify user when current price has broken the neckline
- New parameter filter type
- Display the distance between neck line and current price
- Enable testing mode via strategy tester
- Draw neckline on the chart
- Code optimization

Version 1.2 2018.02.07

- Added a red dot on new double top/bottom found

Version 1.1 2017.12.27

- Mail and push notification added