Double Tops And Bottoms MT5

This indicator finds and displays the Double Bottom and Double Top technical analysis patterns. Signals (displays a message on the screen) if the shape was formed recently. Often after the appearance of these patterns, the trend reverses or a correction occurs. In order not to search for them yourself, or not to miss their appearance, it is enough to add an indicator to the chart. The indicator can be used on different timeframes and currency pairs, there are settings for a better search on a certain currency pair (if the indicator does not find a pattern, it may be necessary to change some settings), automatic tuning of parameters. Also, you can change the color of the lines, show all lines, or only formed shapes.

Options

• History - the number of bars to search for patterns on the chart;
• ExtremCountBars - The number of bars to search for extremums, for example, highs at the 2nd peak (3-40 is recommended);
• MinExtremDist - The minimum number of bars between 2 extremums (2-12 is recommended, the higher the value, the larger the size of the found pattern);
• MaxExtremDist - Maximum number of bars between 2 extremums (10-50 is recommended);
• MultipleVerticesFilter - Filtering to find "extra" highs or lows (if enabled, there should be only 2 tops or bottoms);
• PeriodMAforEdgeFiltering - Filtering the edges of double bottom and top shapes by MA so that there is a smooth rise or fall (0 - off, 0-10 is recommended);
• PriceDeviationsParam - The maximum price deviation (depending on the volatility) of a currency pair of two extremes (the larger this value, the more the figure may turn out to be a curve, but it will be found more often);
• PriceChangeBeforePattern - How much the value of the price change before the pattern should be less than the size of the pattern itself (recommended from 1 to 2.5);
• MaxPriceStrengthAfterPattern - A parameter for increasing (and decreasing) the maximum price divergence from the pattern (for example, 1.5 = 1.5 larger than the pattern size);
• SelfTuningParametersCount - The number of attempts to auto-tuning parameters (how many times the parameter values ​​can be changed to search for at least 1 figure, it is recommended 0-10, 0 - auto-tuning of parameters is disabled);
• DrawUnfinishedPatterns - Draw unfinished patterns (lines on the chart that show that a pattern could have been formed);
• EnableAlert - enable alerts when a pattern appears and breaks out;
• AlertPeriodBars - The number of bars after which the alert can appear again;
• MaximumFigureShiftForAlert - Maximum distance of the figure from the current bar for the alert to appear;
• NeutralLinesClr - Color of neutral lines (shown when the DrawUnfinishedPatterns parameter is enabled);
• FinalBuyPatternClr - Line color of the completed buy shape;
• FinalSellPatternClr - Line color of the completed sell shape.