• Overview
  • Reviews (3)
  • Comments (22)
  • What's new

Double top bottom scanner with RSI filter

This multi time frame and multi symbol indicator identifies double or triple top/bottom formations or a following neckline breakout (confirmed top/bottom). It has RSI, pin bar and MACD or RSI divergence filter options which makes it possible to filter out only the strongest setups. Combined with your own rules and techniques, this indicator will allow you to create (or enhance) your own powerful system.

Features

  • Can monitor all symbols visible in your Market Watch window at the same time. Apply the indicator to just one chart and instantly monitor the entire market.
  • Can monitor every time frame, from M1 to MN, and sends you a real-time alert when when the second or third top/bottom is identified or at neckline breakout. All Metatrader native alert types are supported.
  • Can use RSI as a trend filter and/or divergence to properly identify potential reversals.
  • The indicator includes an interactive panel. When clicking on an item a new chart will be opened with the symbol and time frame in question.
  • The indicator writes the signals to a text file which can also be used by an Expert Advisor (EA) for auto trading. For instance this product.

Input parameters

The description and explanation of the input parameters can be found here.

Please note that due to the multifunctionality neither buy and sell advice nor lines and arrows will be drawn on the chart where the indicator has been installed. A line between the extremums as well as the neckline will be drawn on the chart which can be opened from the panel.

It is highly advisable to put the indicator on a clean (empty) chart without any other indicators or Expert Advisors on it which could interfere with the scanner.


Reviews 3
Randy Katz
1366
Randy Katz 2018.10.27 03:54 
 

This is a great tool for detecting the dt/db condition. The author goes way out of his way to support it and provide updates when necessary. I wish there were more people like him in the world!

sunnychow
8691
sunnychow 2018.04.08 11:08 
 

This is a good tool, it has the shift candle to more confirm the pattern.

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(Today price -20% ).   All signals. Smart trading system.  Popular indicators give two signals - BUY and SELL, and you have to choose and put Take Profit. Usually it works quickly and the trend goes in your favor, but the indicator is “silent” until the trend change. You miss most of the profit. The first idea of MaxiFinish : give a third signal - GET PROFIT (CLOSE) when the trend line changes the slope or the M15 and M30 stochastics have reached an extremum and the profit began to decline. I
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Williams Dashboard
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The Williams Dashboard is an information panel which allows you to have a global market vision through a Williams Percent Range. Williams Dashboard analyzes and tracks all the assets you want to invest in. Take advantage of this useful dashboard where you can open in a few seconds the chart and quickly invest in it. Main Features of Williams Dashboard Graphic panel that allows you to know the situation of many assets. 7 Different Williams Percent Range situations to discover when an asset is o
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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 and confir
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Triple Moving Average EA MT4
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skyree904
41
skyree904 2021.01.31 06:05 
 

will not run on my mt4 :(

Jan Flodin
104631
Reply from developer Jan Flodin 2021.01.31 06:30
I am sorry to hear that the indicator won't run. I am also sorry that you never gave me an opportunity to ask for more (in depth) info and let me help you to actively solve the issue. There could be a hundreds reason why an indicator won't run in Metatrader. Must not always be connected with the indicator itself. For instance I would have asked for the settings you are currently using and for any related error messages in the Experts or Journal tabs. In most of the cases issues are to be found within the settings which were changed by the trader.
Randy Katz
1366
Randy Katz 2018.10.27 03:54 
 

This is a great tool for detecting the dt/db condition. The author goes way out of his way to support it and provide updates when necessary. I wish there were more people like him in the world!

sunnychow
8691
sunnychow 2018.04.08 11:08 
 

This is a good tool, it has the shift candle to more confirm the pattern.

Reply to review
Version 2.0 2019.11.26
- added support for this Expert Advisor: https://www.mql5.com/en/market/product/43512
- added an option to set how many candles must be lower/higher prior to the first extremum candle (first top/bottom)
- added an option to decide the position of the neckline candle in order to get it more to the middle (between the 2 extremum candles). Using this option will make it a more clear U/V formation for those who desires that for their trading strategy
Version 1.9 2019.08.28
- corrected an error with incorrect drawing of lines in the strategy tester
Version 1.8 2019.02.17
- corrected an issue with the text file containing the signals
- added an option to clear signals in the text file in case of parameter change
- added an option to use symbols from the Market Watch window instead of the symbols written in the Symbols parameter
Version 1.7 2019.01.09
- a line between the 2 extremums as weel as the neckline will now automatically be drawn on the chart which opens up when a signal is clicked on in the panel
Version 1.5 2018.10.24
- added possibility to be alerted at trendline break-out instead
- added possibility to select if to use the RSI filter on first, last or both peaks
Version 1.4 2018.09.24
- bug fixes
Version 1.3 2018.09.21
- added possibility so select another (higher) time frame for divergence detection
- added possibility to use RSI divergence instead of MACD
- added possibility to select the divergence depth
- added neckline info to the alerts
- added option to search also for hidden divergences