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Obaforex Tops and Bottoms

Obaforex Tops & Bottoms is a trading tool born out of a personal need to accurately filter tops and Bottoms and ensure consistency in the way tops and bottoms are picked for technical analysis.

It does not repaint (once top or bottom is printed, it don't disappear)
It only prints tops and bottoms after a specified No of bars or candles to the right
It has only one adjustable setting (less confusion finding the most appropriate setting)

This tool is expected to significantly improve the decision making of almost any form of technical analysis

1. Trend Lines and Breakouts
Connecting a series of tops or bottoms (personally I prefer to use the most recent two) generated by this indicator can form a very strong line of support or resistance where a trader can either look to trade a bounce or breakout.

2. Chart Patterns
Spotting chart patterns with Obaforex tops and bottoms is just a matter of connecting tops and bottoms and see what unfolds before your eyes. These setups have incredible accuracy even on very small time frames due to the quality of the tops and bottoms connected to form them. 

3. Divergence Trading

Obaforex tops & bottoms enable you to easily spot consecutive tops and bottoms, using your favorite oscillators, you can check for divergence between these consecutive tops or bottoms. most importantly it shows you which trend line needs to break for you to trade this divergence and make the most out of them at minimal risk

Note: i have also released a highly functional and very easy to use trendline trader EA https://www.mql5.com/en/market/product/55103 to automate the trading of lines generated from plotting the tops and bottoms generated through the use of  this indicator.


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Version 1.2 2020.09.25
Fixed a very small set of missing valid tops and bottoms.
Version 1.1 2020.08.22
Adjustments to code, to make demo version backtest compatible in strategy tester.