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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.

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 productInformation in the text file: [symbol],[timeframe],[price of first top],[price of neckline],[buy or sell (0=buy, 1=sell)],[time of first extremum],[time of neckline],[time of second extremum] + 3 additonal parameters which will be used only by the EA mentioned above.


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.
  • Monitors every timeframe, 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.
  • 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.

It is enough to place the indicator on one chart and you will receive an alert from any symbol and any time frame of your choice.


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.

I recommend you to put the indicator on a EURUSD M5 chart, preferable a clean chart without any other indicators or Expert Advisor on it.


Please also check out my other top/bottom related products:

Chart patterns scanner

Comentários 2
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
8619
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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CURRENTLY 33% 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 new formula. With this update, you will be able to show double timeframe zones . You will not only be able to show a higher TF but to show both, the chart TF, PLUS the higher TF: SHOWING NESTED ZONES . All Supply Demand traders will love it. :) Important Information Revealed Maximize th
148 USD
RunwiseFX Multiple Indicator Matrix with Alert
Runwise Limited
The indicator displays a matrix of indicators across multiple timeframes with a sum total and optional alert. Custom indicators can also be added to the matrix, in a highly configurable way. The alert threshold can be set to say what percentage of indicators need to be in agreement for an alert to happen. The alerts can turned on/off via on chart tick boxes and can be set to notify to mobile or sent to email, in addition to pop-up. The product offers a great way to create an alert when multiple
49 USD
Support Resistance screnner
Sayadi Achraf
A technical indicator that identify support and resistance based price action and supply and demand levels. Important Note :  How to turn your Metatrader to Forex Screener ?   4.1   Trend Screener :   MT4 version   ||   MT5 version   4.2   Trend Line Map :   MT4 version   ||   MT5 version   4.3   Support and Resistance Screener :   MT4 version   ||   MT5 version What makes our Support & Resistance Indicator different? 1.1 Swing highs / Swing Lows These are levels where the price j
49 USD
FX Trend
Daniel Stein
⭐️⭐️⭐️⭐️⭐️ You want to become a constantly profitable 5-star forex trader? ⭐️⭐️⭐️⭐️⭐️ 1.  Read the basic description of our simple trading  system   &  and it's major strategy update in 2020   2.   Send a screenshot of your purchase  to get your personal invitation to our exclusive trading chat FX Trend displays the trend direction, duration, intensity and the resulting trend rating for all time frames in real time. You'll see at a glance at which direction the trends are running, how long
50 USD
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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
8619
sunnychow 2018.04.08 11:08 
 

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

Responder ao comentário
Versão 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
Versão 1.9 2019.08.28
- corrected an error with incorrect drawing of lines in the strategy tester
Versão 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
Versão 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
Versão 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
Versão 1.4 2018.09.24
- bug fixes
Versão 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