Double Top Scanner For Multi Pair And MTF
This indicator was created by a former hedge-fund employee and it automatically identifies double-tops and double-bottoms. It can also be used to identify triple-tops and triple-bottoms. And it will look specifically for the formations that occur at the top (or bottom) of a trend.
Remember: A double-top (or double-bottom) at the end of a trend, is a strong sign that prices are struggling to move further. Therefore, there is a strong probability that a reversal will occur. And this probability is even higher in the case of a triple-top or triple-bottom.
- Monitors all 28 pairs 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 a formation is identified.
- Type Of Bottom: Select the formation you wish to find. Doubles = Double-Tops and Bottoms, Triples = Triple-Tops and Bottoms
- RSI Period: Setting for RSI filter
- Upper Level: Overbought level for RSI filter. First top/bottom must form above this level in order to be valid.
- Lower Level: Oversold level for RSI filter. First top/bottom must form below this level in order to be valid.
- Bars Between: The minimum number of bars between tops/bottoms.
- Pips Distance: The number of pips within each top/bottom.
- Symbols: The indicator monitors the top 28 pairs by default, but you can select less pairs if you wish.
- Alert M1: True = Yes, False = No
- Alert M5: True = Yes, False = No
- Alert M15: True = Yes, False = No
- Alert M30: True = Yes, False = No
- Alert H1: True = Yes, False = No
- Alert H4: True = Yes, False = No
- Alert D1: True = Yes, False = No
- Alert W1: True = Yes, False = No
- Alert MN1: True = Yes, False = No
See the screenshots below for further details. Contact us if you have any questions.
Make sure to see our other indicators and watch our short videos. There is much more information (and our trading guidelines) on these videos.