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Ultimate Double Top Bottom Reversal Indicator

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 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.

Search for "Ultimate Double Top Bottom Reversal Scanner" in the indicator-market to get the scanner tool.


Parameters

  • 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
Comentarios 12
Maxwell Onyolu
243
Maxwell Onyolu 2020.05.19 10:11 
 

Many Thanks Mike, for a wonderful product and for your 5star support. This is the beginning of great things!

Lev Vladimirovic Marushkin
1654
Lev Vladimirovic Marushkin 2018.12.06 14:53 
 

After trying countless Double Top/Double Bottom Indicators with little or no success at all, FINALLY i met this masterpiece! :) I have tested this one VERY thoroughly on different Timeframes and with different Currency Pairs and i couldn´t believe what i have found out. The indicator is profitable even standalone!!! And this is not the end of the song. Mike provided me with world class support, 2 telegram groups regarding the indicator with extremely valuable chat content and LIVE setups which are discussed by him and his followers in realtime and much more, the logic behind the indicator (which is based on detailed information about the work of the smart money and is worth a ton of gold by itself!), an easy step by step guide on how to use this indicator the right way and make a TON of pips "the easy way", another TON of EXTREMELY valuable information for FREE and has shown me additional effective ways to make even more money trading the markets and maximize my return on investment and the best thing is that his "strategy" and his way of trading the markets will work forever! Why? Well, i do not want to write the longest review mql5 has ever seen.... Just go and find out yourself, believe me, if you buy anything from Mike, you do not just get a product, you get a new pair of eyes to look "behind" the charts to see something 98% of all traders will never be able to see. Conclusion: If you want to trade like a "normal" trader and fight for every pip then go and buy somewhere else, BUT if you want to trade like a Big Bank and totally DESTROY the markets, well then follow Mike and you will soon get there.

ekman
595
ekman 2018.10.29 16:12 
 

Mike is best seller that I ever know in MQL5, because after we purchase his indicators, he still train us in several Telegram groups to sharpening our skill & knowledge about the trading strategy using his indicators. Thanks Mike

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This product is related to YF-Meter. => https://www.mql5.com/en/market/product/11685 The feature of YF-DashBoard is that it filters signals by acceleration of price movement. The signals are generated when velocities and accelerations both are moving to the same direction. In addition, up to three time frames can be monitored at the same time, with maximum ten symbol pairs. The indicator helps you to find the fastest speed up currency pairs. It is important to consider "the opportunity cost" wit
71 USD
Daily Winner Binary Options Signal
Majeed Odubela
This indicator is specially made for binary options trading. The indicator works well with seven currency pairs. EURUSD, AUDCAD, GBPUSD,  AUDUSD, EURGBP, EURJPY, NZDUSD. The indicator works with online daily quotes on mt4 as well as offline OTC quotes for weekend tradings. Provided your options broker offer OTC facility for weekend tradings. It is profitable with or without martingale. But more profitable with martingale of 6 steps maximum. It work on 1 minute, 5 minutes, 15 minutes and 30 minut
62.99 USD
Best Currency Strength Indicator
Tumelo Rakotsoane
Advanced Currency Strength Indicator The Advanced Divergence Currency Strength Indicator. Not only it breaks down all 28 forex currency pairs and calculates the strength of individual currencies across all timeframes , but, You'll be analyzing the WHOLE forex market in 1 window (In just 1 minute) . This indicator is very powerful because it reveals the true movements of the market.  It is highly recommended to  analyze charts knowing the performance of individual currencies or the countries ec
149 USD
Configurable Dashboard Pro by RunwiseFX
Runwise Limited
Displays multiple indicators, across multiple timeframes and symbols to give a comprehensive overview of the market. Uniquely, the indicators are configurable and can include custom indicators, even those where you just have the ex4 file or those purchased from Market. Standard indicators can also be selected, the default being ADX, CCI, market price above/below Moving Average (MA), Moving Average Cross (MAX), MACD, Momentum (MOM), OsMA, RSI, Parabolic SAR, William's Percentage Range (WPR). Use
69 USD
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
60 USD
Real Time Currency Valuation
Igor Korepin
Nos complace presentar un indicador único de los índices monetarios, que también puede dev y controlar ampliamente la situación del mercado. El indicador muestra índices de ocho monedas principales y también puede Jn índice de cualquier otra moneda, metal, CFD, etc. Usted no tendrá que estudiar docenas de gráficos para determinar las monedas fuertes y débiles, así como su dinámica actual. La imagen de todo el mercado de divisas durante cualquier período se puede ver en un solo indicador.
75 USD
Moving Average Currency Strength Meter
Emir Revolledo
Before reading the description of this indicator, I just want to introduce to you following concept * MOVING AVERAGE LINE - Typical moving average which is based on one chart alone. * CURRENCY STRENGTH LINE - The moving average of a certain pair in which the strength is based on 28 pairs. Can be said as the REAL MOVING AVERAGE LINE. Moving Average indeed is one of the most popular indicator which almost every trader use. It can clearly give us where the trend of a pair is going. But the fact s
120 USD
Automated Actual Support Resistance A2SR
Yohana Parmi
A. What is A2SR ? -- Full guidance : -- at   https://www.mql5.com/en/blogs/post/734748/page4#comment_16532516 -- and  https://www.mql5.com/en/users/yohana/blog A2SR has a special technique in determining the levels of Support ( demand ) and Resistance ( supply ) . Unlike the ordinary way that we seen on the net, A2SR has a original concept in determining actual SR levels. The original technique was not taken from the internet, and it has never been published on the internet either. A2SR will
250 USD
Prometheus Smart Money
Philip Muga
Prometheus Smart Money is an indicator that combines both price & volume with calculations based on other custom indicators, smart volume and retail volume to create this leading indicator that gives you high probability moves to help you make a decision on what is MOST likely to happen in the market going forward. Advantages You can use it in ALL financial markets including binary options on ALL asset classes or instruments. You can use it as a stand alone indicator or as a confirmation tool wi
100 USD
No Demand No Supply
Panagiotis Diamantopoulos
This indicator identifies No Demand –No Supply candles  to your chart and plots volume bars colored according to the signal. It can be applied to all timeframes or to a specific one only. It can also be used as regular volume indicator but with exceptional future of WEIGHTED VOLUME. Furthermore is has an alert notification, sound and email when a signals occurs. The VSA (Volume Spread Analysis) definition for No Demand and No supply is as follows: No Demand (no buyers-potential short position):
80 USD
OBOS Indicator
Renaud Candel
OBOS Indicator is an exclusive indicator to spot entries based on price action. The OBOS Indicator is both effective and user friendly. Indicator uses simple color codes and levels to indicate Overbought and Oversold conditions. No more headache. The OBOS Indicator will only gives you indication when there are possible entries. Means you only get useful information. To use the indicator, please follow the rules: wait for the indicator to give you an overbought or oversold signal (usually blue an
149 USD
Advanced Dashboard for Currency Strength and Speed
Bernhard Schweigert
CURRENTLY 20% OFF !! ⭐⭐⭐⭐⭐  Best Solution for any Newbie or Expert Trader! This dashboard software is working on 28 currency pairs. It is based on 2 of our main indicators (Advanced Currency Strength 28 and Advanced Currency Impulse). It gives a great overview of the entire Forex market. It shows Advanced Currency Strength values, currency speed of movement and signals for 28 Forex pairs in all (9) timeframes. Imagine how your trading will improve when you can watch the entire market using a sin
199 USD
Clever TDI Pro
Carlos Forero
Description: The indicator shows the TDI indicator in a separate window, and with the RSI component, the indicator finds possible divergences with M or W patterns. Here you can access our discord community for more information about our tools and benefits. KEY LINKS:   How to Install   -  Discord Server   –  Frequent Questions  -  All Products  Functions: Finds Market Makers patterns. Finds extremes or exhaustion into the market. Looks for a trend continuation. Content: TDI Indicator Divergence
69 USD
Filtro:
cybeh
104
cybeh 2017.12.06 08:20 
 

El usuario no ha dejado ningún comentario para su valoración

Dmytr Npwmnysz״
1454
Dmytr Npwmnysz״ 2017.12.26 21:11 
 

Win VS Loss 80%+ vs -20%

A small thing to overcome.

Need a separate terminal to deploy all the currencies of all timefremes.

Very easy. Drop to graph and wait signal. Without advanced settings.

Dkmillion
624
Dkmillion 2018.01.12 20:37 
 

If I could I would have given Mike 100 starts for this indicator! I have been trading for 12 years now and bought thousands of indicators. I can honestly say this one is one of the best for the following reasons:

1) It does not repaint

2) It stays on the history of the charts and the exact place where it appeared and you can actually scroll back and count the pips and get an idea how it works

3) Mike gives 10 star support he is really very helpful and will personally help you with technical problems

4) There is a Telegram channel where traders help each other and support each other regarding this indicator

5) This indicator will not only help you making a few pips, if you get the signal you have to be patient to let the trade run and not make the same mistake as me by trailing too tight!

See screen shot!

https://gyazo.com/8c765770494a9514ff315bd0d10f506e

6) This indicator is highly recommended - the signals appear at least once a day!

kayodemizan
266
kayodemizan 2018.02.21 11:57 
 

This is great and time saving scanning the market manually looking for setup

what left for me is to get the alerter and good to go.

Thumb up..

Richard Caughell
1461
Richard Caughell 2018.02.28 22:14 
 

Represents key turning points in the market, amazing device. Something no price action trader should go with out.

However from a platform stand point this indicator freezes my system up. Not sure what can be done to fix this?

edit: with the new update the algo applies like a built in MA, very fast and doesnt impact CPU usage any further.

Awesome Job Mike, thanks for the update.

bpaone24
40
bpaone24 2018.04.11 04:57 
 

Great indicator and the alerter is a must if looking at trading multiple pairs. Mike's approach is solid and his customer service is top notch! I look forward to many successful setups and trades with his guidance!

Muhammet Simsek
930
Muhammet Simsek 2018.07.03 08:35 
 

Theres no better! What are you standing for? Get it now and join in!

Barbara Ford
41
Barbara Ford 2018.07.11 16:07 
 

This is a brilliant indicator. Not only can you see it on your MT4 charts, but you also get notifications of each signal in a free Telegram Channel. Well done Mike. Can't wait to try some of your other indicators.

ekman
595
ekman 2018.10.29 16:12 
 

Mike is best seller that I ever know in MQL5, because after we purchase his indicators, he still train us in several Telegram groups to sharpening our skill & knowledge about the trading strategy using his indicators. Thanks Mike

indash
79
indash 2018.11.13 15:28 
 

Very good Indicator for a reversal trend but you need to open lots of charts and attached the Indicator to it.

For me, it is powerfull to couple it with the Ultimate Double top Scanner.

Lev Vladimirovic Marushkin
1654
Lev Vladimirovic Marushkin 2018.12.06 14:53 
 

After trying countless Double Top/Double Bottom Indicators with little or no success at all, FINALLY i met this masterpiece! :) I have tested this one VERY thoroughly on different Timeframes and with different Currency Pairs and i couldn´t believe what i have found out. The indicator is profitable even standalone!!! And this is not the end of the song. Mike provided me with world class support, 2 telegram groups regarding the indicator with extremely valuable chat content and LIVE setups which are discussed by him and his followers in realtime and much more, the logic behind the indicator (which is based on detailed information about the work of the smart money and is worth a ton of gold by itself!), an easy step by step guide on how to use this indicator the right way and make a TON of pips "the easy way", another TON of EXTREMELY valuable information for FREE and has shown me additional effective ways to make even more money trading the markets and maximize my return on investment and the best thing is that his "strategy" and his way of trading the markets will work forever! Why? Well, i do not want to write the longest review mql5 has ever seen.... Just go and find out yourself, believe me, if you buy anything from Mike, you do not just get a product, you get a new pair of eyes to look "behind" the charts to see something 98% of all traders will never be able to see. Conclusion: If you want to trade like a "normal" trader and fight for every pip then go and buy somewhere else, BUT if you want to trade like a Big Bank and totally DESTROY the markets, well then follow Mike and you will soon get there.

Maxwell Onyolu
243
Maxwell Onyolu 2020.05.19 10:11 
 

Many Thanks Mike, for a wonderful product and for your 5star support. This is the beginning of great things!

Respuesta al comentario
Versión 1.6 2018.04.24
Optimized calculation. Faster/less CPU usage.
Versión 1.4 2018.02.28
Better calculation. Less CPU usage.
Versión 1.3 2017.12.22
Better detection of good Double Tops/Bottoms
Versión 1.2 2017.11.27
Push notification bug fix