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Ultimate Double Top Bottom Reversal Indicator FREE

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 21
kawid123
34
kawid123 2021.02.15 16:55 
 

smart and excellent indicator very helpful

Valentin Butorin
3933
Valentin Butorin 2020.10.03 13:20 
 

It works good

sunnychow
8698
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!

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Documentation for connecting Metatrader 4 with Python with a simple drag and drop EA.   A full end-to-end solution ,fully tested ,fast and efficient! The Pytrader ecosystem consists of a python script and a MT4 EA. (  MT5  version ) Further for the licensing an indicator is used.  The communication between the python script and the EA is based on sockets. EA is the  Server   and the python script the  Client .  It is always query(function / python script) and output(data / server). The
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Advanced Currency IMPULSE with ALERT
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CURRENTLY 39% OFF !!   Best Solution for any Newbie or Expert Trader! This indicator is a unique, high quality and affordable trading tool because we have incorporated a number of proprietary features and a secret formula. With only ONE chart it gives Alerts for all 28 currency pairs . Imagine how your trading will improve because you are able to pinpoint the exact trigger point of a new trend or scalping opportunity! Built on new underlying algorithms it makes it even easier to identify an
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TPA Sessions MT4
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"TPA Sessions" indicator is a very important tool to complement  "TPA True Price Action" indicator . Did you ever wonder, why many times the price on your chart suddently turns on a position you can`t explain?  A position, where apparently no support or resistance level, or a pivot point, or a fibonacci level is to identify? Attention!!! The first run   of the TPA Session indicator must be in the open market  for the lines to be drawn correctly. Please visit our blog to study actual trades wi
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Lighthouse
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You want to become a constantly profitable 5-star forex trader? 1.  Read the basic description of our simple trading  system   &  and it's major strategy update in 2020   2.   Send a screenshot of your purchase  to get your personal invitation to our exclusive trading chat Lighthouse is an amazing precise and reliable support and resistance indicator. It displays the most important trading levels and draws them according to their relevance. If a level is clearly broken, it changes its rol
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FX Trend
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Daniel Stein
️️️️️ You want to become a constantly profitable 5-star forex trader? ️️️️️ 1.  Read the basic description of our simple trading  system   &  and it's major strategy update in 2020   2.   Send a screenshot of your purchase  to get your personal invitation to our exclusive trading chat FX Trend displays the trend direction, duration, intensity and the resulting trend rating for all time frames in real time. You'll see at a glance at which direction the trends are running, how long
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True Direction Oscillator
True Direction Oscillator
Muhammad Elbermawi
Or (TDO)    which is an index that measures the price rate of change using the principle of " Pure Momentum ". When a security price advances from 10 to 15 then the price rate of change is 150% but when it declines back from 15 to 10 then price rate of change is 33.3% only. That is why technical analysis indicators like "Price Rate of Change" (ROC) or "Momentum" gives higher readings for ascending price movements than that given to descending ones. TDO fixes this problem to help traders at
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TickUnit Scalper Currency Strength28 PRO
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CURRENTLY 26% OFF !!   This indicator is a super combination of both our main indicators ( Advanced Currency Strength 28 and Advanced Currency IMPULSE with ALERT ). It shows Currency Strength values for TICK-UNITS and alert signals for 28 Forex pairs. 11 different Tick-Units can be used. Those are 1, 2, 3, 4, 5, 6, 10, 12, 15, 20, and 30 Seconds. The Tick-Unit bar in the sub-window will be shown and shifted to the left when there is at least 1 tick within the second’s timer.  With only ONE
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TPA True Price Action MT4 Indicator
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InvestSoft
TPA True Price Action indicator reveals the true price action of the market makers through 100% non-repainting signals (except early signals mode) strictly at the close of a candle! TPA shows entries and re-entries, every time the bulls are definitely stronger than the bears and vice versa. Not to confuse with red/green candles. The shift of power gets confirmed at the earliest stage and is ONE exit strategy of several. There are available now two free parts of the TPA User Guide for our cust
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Primus Smart Money
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Primus Smart Money is an indicator that shows the average of bulls and bears on an asset. Used as a confirmation indicator for bullish and bearish control to assist in predicting future price moves Advantages Used in ALL financial markets including binary options on ALL asset classes or instruments. To be used as a confirmation tool with other indicators Parameters Period - default set to 9 (Recommended) Entry requirements Focus on the clusters on the indicator - the height or depth of the bars
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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 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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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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Filter:
aclayton5
64
aclayton5 2021.04.08 12:26 
 

Very good indicator

seniorbro2
44
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

squarecash387
102
squarecash387 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
3933
Valentin Butorin 2020.10.03 13:20 
 

It works good

Ivan Shamin
321
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
8698
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
118
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
927
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
604
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
5557
Tim Eubanks 2018.03.08 03:06 
 

Indicator is working now.

Clepsosoa15
37
Clepsosoa15 2018.03.06 11:35 
 

Excellent indicator. Very helpful

Mohamed FxMHMD
15
Mohamed FxMHMD 2018.03.06 10:54 
 

with a top down approach this indicator can show very profitable setups

klcsmn
174
klcsmn 2018.03.06 10:40 
 

Its smart and simple indicator.

cybeh
104
cybeh 2018.03.05 08:45 
 

This indicator is surprisingly simple yet awesome. It prompts you the Double Tops and Double Bottoms, coupled with sound trading strategies and money management, the win rates and profit potential are also surprisingly great! Check out the creator's website for detailed explanation on the top-down approach to trading successfully using this indicator. This free indicator is worth taking for a test drive, and the paid version is well worth a few cups of Starbucks latte.

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