This indicator for ProRealTime, Double Top – Bottom Pattern identifies the “double top” and the “double bottom” price patterns. It works on all markets and for any timeframe! See examples below.

HOW THE INDICATOR WORKS:

This pattern is as simple as it is effective, the double top or the double bottom indicate a possible reversal of the trend.

Interface of the indicator:

1. ZigZagPerc : Enable or disable the PricePercent variable.
2. PricePercent: Value of the percentage difference between a new high and a new low. This variable affects the size of the Pattern.
3. Dynamic: Enable or disable the dynamic variable.
4. Factor: Variable of the “Dynamic” function, this function allows automatic detection of patterns based on market volatility.
5. ZigZagVal: Enabled or disabled the PointsValue variable.
6. PointsValue: Value of the difference expressed in points, between a new maximum and a new minimum. This variable affects the size of the Pattern.
7. FractalPoint: Enable or disable the Period variable.
8. Period: Value of the time difference, between a new maximum and a new minimum. This variable affects the size of the Pattern.
9. Accuracy: variable, it is possible to search for patterns with an accuracy in a range between 0 and 100%. Accuracy makes it possible to establish the alignment of the two maxima, or of the two minimum. You can observe a wide variety of patterns without discarding any possibility, or you can have an opportunity to have filtered too severely. 90% is the default threshold, but it is up to you to configure this parameter according to your own style!
10. ZigLine: Show Zig Zag line to set the parameters quickly
11. Extension: This variable allows to lengthen the area of breakout level

HOW TO SET ALARM:

It’s possible to set alarm for 2 different type of signal:

BreakOut: To be notified only if the price breaks out.

Pattern: To be notified  if the pattern is in progression.

Advantages of using the “double top / bottom pattern” indicator:

• Automatically identifies the double top and the double bottom patterns
• Compatible with all instruments
• Compatible with all ordinary timeframes and even on tick-charts!
• Compatible with Heikin ashi, Renko, Ticks, Kagi, Three Line Break, and more
• Patterns are completely customizable to suit your own trading style
• The indicator does not repaint! The signal is given in real-time and allows you to operate without any delay
• The indicator can be integrated into any indicator, using ProRealTime’s ProBuilder function
• The indicator can be integrated into any automated trading strategy, using ProRealTime’s ProBackTest and ProOrder function
• We offer for free the screener once you have bought this product.

This product works in any Futures, Forex or Stock/ETF Markets