Double Top And Bottom Scanner Demo
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Double top and bottom patterns are chart patterns that occur when the underlying investment moves in a similar pattern to the letter "W" (double bottom) or "M" (double top). Double top and bottom analysis is used in technical analysis to explain movements in a security or other investment, and can be used as part of a trading strategy to exploit recurring patterns.
Searching for this pattern among the charts is time consuming, this indicator searches among the symbols that selected by the user, and finds the double top/bottom pattern.
This indicator as an effective tool can be part of the strategy, used as an independent strategy or combined with another method.
For example: this indicator can be used when a divergence occurs or when a double top/bottom pattern is found, a momentum indicator in higher time-frame can be used for confirmation....
Each time several symbols are scanned, the indicator may finds patterns, but in the end, is up to you to determine if the pattern that found is valid or not, then take the position.
- Searching up to 100 symbols in 8 time-frames(800 different modes).
- Graphical display of patterns.
- Display the suggested order parameters(price/sl/tp) to simplify positioning.
- Sending the alert and push notification
- Simple user interface
Notice: Searching for several different symbols and time-frames may take a few seconds(depends on the number of symbols), after pressing the scan button to search you may see a few seconds lag to display results(which is normal).
Observe the following, to improve the performance of the indicator:
- Update symbol history in Meta-trader as much as possible.
- Remove unnecessary symbols and time-frames from the scan list.
Using this indicator is very simple and hope it will improve your trading result.
Indicator shows Support and Resistance Levels. In stock market technical analysis, support and resistance are certain predetermined levels of the price of a security at which it is thought that the price will tend to stop and reverse. These levels are denoted by multiple touches of price without a breakthrough of the level . Support and resistance are key concepts that help traders understand, analyze and act on chart patterns in the financial markets.
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The indicator is created for professional trading by Fibonacci levels. AutoFiboLevels plots Fibonacci retracement and extension levels on impulse and corrective wave. The indicator unambiguously interprets a market situation. Points of extremum for level plotting are calculated using fractal analysis. A trader can independently set retracement and extension levels and calculation time frame adjusting the indicator for various strategies. This version of the indicator works only on EURUSD. Full v
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