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Ultimate Double Top Bottom Reversal Indicator FREE

4.39

This indicator is designed to detect high probability reversal patterns: Double Tops/Bottoms with fake breakouts.

This is the FREE version of the indicator: https://www.mql5.com/en/market/product/26371

The free version works only on EURUSD and GBPUSD!

Please read also the blog post "Professional Trading With Double Tops/Bottoms And Divergences!" which explains the concepts behind the ULTIMATE Double Top/Bottom indicator and how you can use a professional top-down approach.

The provided video shows the maximum performance of the indicator.

With maximum performance, I mean that this could have been the profit if you would have exited every trade at the optimal price level. Of course, this can’t be achieved during real trading conditions where you don’t know future price moves.

But the video shows that the raw signals of the indicator (without visual filtering) produced 24 winning trades and only 11 losing trades. In the video, I count a trade as a winning trade if it reaches at least 1R profit (1R = initial risk of the trade). So, these raw signals would be already very profitable if you place the target for all trades at 1R and then leave the trade alone, without trying to find the optimal exit.

This indicator draws the double tops/bottoms on the chart and gives alerts via Email and via MT4-alert in the moment when a high probability double top/bottom entry signal is created.

What this indicator detects:

These special Double Tops/Bottoms are created by the smart money to accumulate its own position size. With the fake breakout the smart money traps as much traders on the wrong side of the market as possible. Then the smart money reverses the direction very sharply. The trapped traders are in panic and exit their position or even reverse their position. This makes the reversal very strong and profitable. The indicator detects exactly these games of the smart money and therefore gives you high probability entry signals.

This indicator does NOT repaint. You can test it in the strategy tester. Then you will see that these good signals come in real-time on every trading instrument and on any timeframe!

Tips:

  • I use this indicator on M30 and higher. Then there is less noise in the price moves and I have usually more time to react on entry signals.
  • When a signal occurs then ask yourself if there is enough room for a big subsequent move in direction of the trend (support/resistance far away?).


Don't miss these good setups anymore

Nobody can scan e.g. 30 trading instruments and up to 8 timeframes (=240 charts) without missing some of these setups. Therefore, I have created a Scanner-Tool which checks up to 30 instruments and 8 timeframes permanently for you which needs to run only on one single chart and which is also available here in the market. You will then receive alerts via MT4-alert, Email or Push for all setups on all configured trading instruments and timeframes in the moment when the signals occur. With this great tool you will never miss such setups again.

Here is the link for the scanner tool "Ultimate Double Top Bottom Reversal Scanner"


Parameters

  • candlesCalculated: How many candles backward should the indicator show the double tops/bottoms
  • alertsLong: True = Yes, False = No - if true, then the indicator alerts occurrences of "Double Bottom"-signals for long entries
  • alertsShort: True = Yes, False = No - if true, then the indicator alerts occurrences of "Double Top"-signals for short entries
  • alertsViaMT4: True = Yes, False = No - if true, then the indicator gives alerts via MetaTrader 4 popup
  • alertsViaEmail: True = Yes, False = No - if true, then the indicator gives alerts via email
  • alertsViaPush: True = Yes, False = No - if true, then the indicator gives alerts via push-notifications
Reviews 20
John Winsome Munar
3874
John Winsome Munar 2022.06.16 01:15 
 

Simple and good indicator

Engel Waldemar
57
Engel Waldemar 2021.08.16 15:11 
 

Great indicator. Easy to use

kawid123
34
kawid123 2021.02.15 16:55 
 

smart and excellent indicator very helpful

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MT4 Multi-timeframe Divergence and Overbougt/Oversold detection indicator. Features - Fully customizable on chart control panel, provides complete interaction. - Hide and show control panel wherever you want. - Real time information about non-capitalized divergences. - Real time information about overbougt / oversold situations. - Real time information about regular divergences. - Real time information about hidden divergences. - Oscillators available for divergences detection: AO, RSI, CCI, M
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Trend Screener
STE S.S.COMPANY
4.72 (50)
Trend Indicator, Breakthrough  unique Solution For Trend Trading And Filtering With All Important trend Features Built   Inside One Tool!   It's   100% non-repainting multi-timeframe and Multi-currencies   indicator that can be used on all symbols/instruments: forex, commodities, cryptocurrencies, indices and stocks. Trend Screener   is efficient indicator trend following indicator taht provide  arrow trend signals with dots in chart.   The features that are available in the Trend analyzer indic
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Forex Gump Trend
Andrey Kozak
5 (1)
Forex Gump Trend is a universal indicator for highly effective determination of the trend direction. If you identify the trend correctly, this is 95% of trading success, because you will be able to open trades in the direction of the price movement and benefit from it. The Forex Gump Trend indicator helps traders with a high degree of efficiency to determine the current trend direction, as well as trend reversal points. The direction of the trend is shown by colored lines on the chart, and the
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With this Expert Advisor you will follow the sound trading principle Buy Low and Sell High by default ! And you can do that even with a normal day job . You will be even able to trade on lower timeframes which you could never do without such an Expert Advisor. And the best thing is that you are in control! You can tell the Edge Zone EA where it has to enter and where it has to exit. And you can do that even many hours before the trade will occur . This EA is therefore an excellent assistant for
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This indicator is designed to detect high probability reversal patterns: Double Tops/Bottoms with fake breakouts . Please read also the blog post " How To Yield Big Winners Consistently! " which explains the concepts behind the ULTIMATE Double Top/Bottom indicator and how you can use a top-down approach to get 15 - 20R winning trades on a regular basis . The provided video shows the maximum performance of the indicator. With maximum performance, I mean that this could have been the profit if you
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This indicator shows the latest untouched support and resistance as horizontal lines. The indicator can show support/resistance from higher timeframes. With this indicator you can e.g. easily see the support/resistance of the timeframes H4, D1 and W1 on a H1 chart, which can be a big advantage while time your entry on H1. This is the FULL version of the indicator: Support Resistance Multi Time Frame FREE Parameters referenceTF: the timeframe from which the support/resistance is calculated cand
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SuperTrend Indicator
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This is an implementation of the well known SuperTrend Indicator. With this indicator you can see exactly the same values which will be alerted by the following SuperTrend Scanners: SuperTrend Scanner SuperTrend Scanner FREE Parameters SuperTrendATRPeriod: the period setting for the calculation of the SuperTrend SuperTrendMultiplier: the multiplier setting for the calculation of the SuperTrend
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With this system you can spot high-probability trades in direction of strong trends. You can profit from stop hunt moves initiated by the smart money! Important Information How you can maximize the potential of the scanner, please read here: www.mql5.com/en/blogs/post/718109 Please read also the blog about the usage of the indicator: Professional Trading With Strong Momentum. With this system you have 3 reliable edges on your side: A strong trend (=high probability of continuation) A deep pu
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This indicator is designed to detect high probability reversal patterns: Double Tops/Bottoms with fake breakouts . This is the FREE version of the indicator: https://www.mql5.com/en/market/product/29957 The free version works only on EURUSD and GBPUSD! Double top and bottom patterns are chart patterns that occur when the trading instrument moves in a similar pattern to the letter "W" (double bottom) or "M" (double top). The patterns usually occur at the end of a trend and are used to signal tren
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With the MACD Multi Time Frame indicator you can spot divergences of higher timeframes while you are searching for pinpointed entries on lower timeframes. This blog post gives you real-time MACD Divergence Analysis for free and tips how to trade the divergences: Real-Time MACD Divergence Analysis The MACD Multi Time Frame gives you an very good overview of what is happening on higher timeframes without the need of switching to the higher timeframe. You will e.g. always see the MACD value of the
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This indicator draws regular bullish and bearish divergences in real-time onto the charts. The algorithm to detect those divergences is based on my 10+ years experience of detecting divergences visually. The divergences are drawn as green and red rectangles on the charts. You can even do forward testing in the visual mode of the strategy tester. This FREE Version is restricted to EURUSD and GBPUSD. The full version without restrictions is here:  https://www.mql5.com/en/market/product/42758 Par
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With this system you can spot high-probability trades in direction of strong trends. You can profit from stop hunt moves initiated by the smart money! Important Information How you can maximize the potential of the scanner, please read here: www.mql5.com/en/blogs/post/718109 Please read also the blog about the usage of the indicator: Professional Trading With Strong Momentum. With this system you have 3 reliable edges on your side: A strong trend (=high probability of continuation) A deep pu
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This indicator is designed to detect the best of all candlestick reversal patterns: Three Line Strike . According to the bestselling author and candlestick guru Thomas Bullkowski, this pattern has a winning percentage between 65% and 84% . This FREE Version of the Scanner scans only EURUSD and GBPUSD. The full version of the scanner can be found here: Three Line Strike Scanner 30 Instruments This indicator scans for you up to 30 instruments (forex, indices or commodities) on up to 8 timeframes.
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This indicator scans for you up to 30 trading instruments and up to 8 timeframes for occurrences of the high probability reversal patterns: Double Tops/Bottoms with fake breakouts . Please read also the blog post " Professional Trading With Double Tops/Bottoms And Divergences! " which explains the concepts behind the ULTIMATE Double Top/Bottom indicator and how you can use a professional top-down approach. You can get alerts via MetaTrader 4, email and push notifications at the moment when a sig
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With this system you can spot high-probability trades in direction of strong trends. You can profit from stop hunt moves initiated by the smart money! Important Information How you can maximize the potential of the scanner, please read here: www.mql5.com/en/blogs/post/718109 Please read also the blog about the usage of the indicator: Professional Trading With Strong Momentum This FREE Version of the indicator works only on EURUSD and GBPUSD. The full version of the indicator can be found here:
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This scanner shows the trend values of the well known indicator SuperTrend for up to 15 instruments and 21 time frames. You can get alerts via MT5, Email and Push-Notification as soon as the direction of the trend changes. Important Information You have many possibilities to use the scanner. Here are two examples: With this scanner you can trade a top-down approach easily. If two higher time frames e.g. W1 and D1 are already showing green values (upward trend) but the H12 time frame shows a re
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This indicator scans for you up to 15 trading instruments and up to 21 time frames for occurrences of the high probability reversal patterns: Double Tops/Bottoms with fake breakouts . What this indicator detects: This indicator detects a special form of Double Tops and Bottoms, so called Double Tops/Bottoms with fake breakouts . For double tops with fake breakouts the highest price of the right shoulder must be higher than the left shoulder. For double bottoms with fake breakouts the lowest pric
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This scanner shows the trend values of the well known indicator SuperTrend for up to 30 instruments and 8 time frames. You can get alerts via MT4, Email and Push-Notification as soon as the direction of the trend changes. Important Information How you can maximize the potential of the scanner, please read here: www.mql5.com/en/blogs/post/718074 You have many possibilities to use the scanner. Here are two examples: With this scanner you can trade a top-down approach easily. If two higher time
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With this system you can spot high-probability trades in direction of strong trends. You can profit from stop hunt moves initiated by the smart money! Important Information How you can maximize the potential of the scanner, please read here: www.mql5.com/en/blogs/post/718109 Please read also the blog about the usage of the indicator: Professional Trading With Strong Momentum This FREE Version of the indicator works only on EURUSD and GBPUSD. The full version of the indicator can be found here:
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This indicator scans for you up to 30 trading instruments and up to 8 timeframes for occurrences of the high probability reversal patterns: Double Tops/Bottoms with fake breakouts . Please read also the blog post " Professional Trading With Double Tops/Bottoms And Divergences! " which explains the concepts behind the ULTIMATE Double Top/Bottom indicator and how you can use a professional top-down approach. This FREE Version of the Scanner scans only EURUSD and GBPUSD. The full version of the sca
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This indicator is designed to detect the best divergences between price/MACD and price/RSI. MACD and RSI produce by far the best divergence signals therefore this indicator focus on those two divergences. This indicator scans for you up to 30 instruments and up to 8 timeframes for bullish and bearish divergences. You need to add the indicator only to one single chart ! The indicator will then automatically scan all configured instruments and timeframes. Important Information How you can maximi
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This scanner shows the trend values of the well known indicator SuperTrend for up to 30 instruments and 8 time frames. You can get alerts via MT4, Email and Push-Notification as soon as the direction of the trend changes. This is the FREE version of the indicator: SuperTrend Scanner The free version works only on EURUSD and GBPUSD! Important Information How you can maximize the potential of the scanner, please read here: www.mql5.com/en/blogs/post/718074 With the following FREE indicator you
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This indicator is designed to detect the best divergences between price/MACD and price/RSI. MACD and RSI produce by far the best divergence signals therefore this indicator focus on those two divergences. This is the FREE version of the indicator: https://www.mql5.com/en/market/product/28375 Important Information How you can maximize the potential of the scanner, please read here: www.mql5.com/en/blogs/post/718074 The free version works only on EURUSD and GBPUSD! This indicator scans for you
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This indicator draws regular bullish and bearish divergences in real-time onto the charts. The algorithm to detect those divergences is based on my 10+ years experience of detecting divergences visually. The divergences are drawn as green and red rectangles on the charts. You can even do forward testing in the visual mode of the strategy tester. This FREE Version is restricted to EURUSD and GBPUSD. The full version without restrictions is here: https://www.mql5.com/en/market/product/42732 Para
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This indicator draws regular bullish and bearish divergences in real-time onto the charts. The algorithm to detect those divergences is based on my 10+ years experience of detecting divergences visually. The divergences are drawn as green and red rectangles on the charts. You can even do forward testing in the visual mode of the strategy tester. Parameters Fast EMA Period: The period of the fast EMA of the MACD. Default value is 12. Slow EMA Period: The period of the slow EMA of the MACD. Def
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With the MACD Multi Time Frame indicator, you can spot divergences of higher timeframes while you are searching for pinpointed entries on lower timeframes. This FREE version of the indicator works only on EURUSD and GBPUSD. The full version of the indicator can be found here: MACD Multi Time Frame MT5 This blog post gives you real-time MACD Divergence Analysis for free and tips how to trade the divergences: Real-Time MACD Divergence Analysis The MACD Multi Time Frame gives you a very good overvi
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This scanner shows the trend values based on crossovers of two moving averages for up to 30 instruments and 8 time frames. You can get alerts via MT4, Email and Push-Notification as soon as the direction of the trend changes. This is the FREE version of the indicator: https://www.mql5.com/en/market/product/29159 Important Information How you can maximize the potential of the scanner, please read here: www.mql5.com/en/blogs/post/718074 You have many possibilities to use the scanner. Here are
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Edge Zone EA FREE
FXsolutions
5 (2)
With this Expert Advisor you will follow the sound trading principle Buy Low and Sell High by default ! And you can do that even with a normal day job . You will be even able to trade on lower timeframes which you could never do without such an Expert Advisor. And the best thing is that you are in control! You can tell the Edge Zone EA where it has to enter and where it has to exit. And you can do that even many hours before the trade will occur . This EA is therefore an excellent assistant for
FREE
Filter:
John Winsome Munar
3874
John Winsome Munar 2022.06.16 01:15 
 

Simple and good indicator

Engel Waldemar
57
Engel Waldemar 2021.08.16 15:11 
 

Great indicator. Easy to use

aclayton5
64
aclayton5 2021.04.08 12:26 
 

Very good indicator

seniorbro2
75
seniorbro2 2021.02.16 02:15 
 

A useful addition to trading utilities. Thanks for making it available.

kawid123
34
kawid123 2021.02.15 16:55 
 

smart and excellent indicator very helpful

Vincent Sherreef Evans Jr
220
Vincent Sherreef Evans Jr 2020.10.14 21:17 
 

Not an good indicator, it doesnt give alot of signals and i found v shape on eurusd but the indicator didnt show, this indicators need more update!!!

Valentin Butorin
4092
Valentin Butorin 2020.10.03 13:20 
 

It works good

Ivan Shamin
366
Ivan Shamin 2019.12.06 23:43 
 

The indicator is too late with the signal.

Индикатор слишком опаздывает с сигналом. Был сигнал о двойной вершине через четыре 4-х часовые свечи после нее. Т.е. я ее и без него увидел 16 часов назад. Ну и на фиг он нужен в платной версии?

sunnychow
8667
sunnychow 2018.11.11 16:09 
 

1 Star (20%) = Bad

2 Star (40%) = Undecided

3 Star (60%) = Acceptable

4 Star (80%) = Good

5 Star (100%) = Excellente!

Chris Braem
131
Chris Braem 2018.07.11 11:38 
 

Excellent indicator. Just amazing it is possible to obtain such a indicator for free. Thanks Mike

YNC C
58
YNC C 2018.07.11 03:35 
 

excellent indicator! using it with MACD divergence is the BEST!

braddock
117
braddock 2018.07.10 16:44 
 

absolutly great!!!! Developper always helping

brown123
64
brown123 2018.07.10 12:54 
 

DTDB is great Also great support from Mike

Muhammet Simsek
926
Muhammet Simsek 2018.07.10 12:42 
 

I liked it very much!

Michael
52
Michael 2018.05.14 17:58 
 

Please note that the OS (buy) arrow is pointing down???

two trades two wins :-) Thanx

srdillip
35
srdillip 2018.05.02 15:47 
 

I have came across this indicator and really work well but you should evaluate your self before taking the trade. This is really simple and great.

Daniel
646
Daniel 2018.03.19 10:47 
 

Ultimate Double Top did work correct. My MQL4 is freecing allways. I cant work like that. Absolutley terribel.

Help from Mike is great. For now for stars.

1022852
19
1022852 2018.03.08 10:18 
 

Hi,

I'm gonna make it simple and short but with sincerity: the Ultimate Double Top/Bottom is not only working, it's working GREAT !!!

Thank's a lot to Mike, a great person and teacher, for his huge hard work and support to all members !

Cheers

Fred C

Tim Eubanks
5662
Tim Eubanks 2018.03.08 03:06 
 

Indicator is working now.

Clepsosoa15
37
Clepsosoa15 2018.03.06 11:35 
 

Excellent indicator. Very helpful

12
Reply to review
Version 1.8 2018.05.17
Small change regarding the signal arrow for double bottoms. The arrow pointed downward instead of upward. Now, it is pointing upward again.
Version 1.7 2018.05.11
In the previous version, it could occur that the signals/arrows were faded out and faded in again (blinking). This bug is now fixed. The bug was only in this FREE version of the Ultimate Double Top Bottom Reversal Indicator
Version 1.6 2018.04.24
Optimized calculation. Faster/less CPU usage.
Version 1.5 2018.03.20
Symbols with prefix and suffix (e.g. EURUSDi, GBPUSDi) are now allowed too