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Complete M & W pack is including :
- Double Top Indicator
- Double Top Screener
- Double Bottom Indicator
- Double Bottom Screener
The indicators will show you at first glance the reversal pattern detected by the screeners.
Everyone has his own search criterias to search for double top and double bottom, screeners and indicators have many adjustables parameters so that everyone can have his own tool. These settings are done in a very simple way and without having to modify the code.
To adjust the indicator, just click on “Configure” 🔧 to change many settings :
To adjust screeners parameters, simply open the Variables 🔧 menu :
In both Screeners, a first filtering of stocks is carried out on the Daily time frame according to 2 criterias :
- minimum stock price (for those who do not wish to have a penny in the results for example)
- minimum average volume (expressed in number of transactions or capital exchanged) to have the desired level of liquidity on the stock.
Results Rankings
Results sorted in the column “Bottom (Top) / Neckline / BO” :
- 0 = stockprice in the middle of the W (M)
- 1 = stockprice is near bottoms (Tops)
- 2 = stockprice is near neckline
- 3 = stockprice is currently breaking out the neckline
The values shown above are given, as examples and do not constitute an optimal or recommended setting, everyone should find his own settings.
Adjustable validation criteria :
- Maximum percentage between bottoms / tops
- W / M minimum height
- Maximum distance between actual price and keypoints
Available filters :
- Actual price near bottoms / tops
- Actual price near neckline
- Actual price breaking out neck line
- Bullish / bearish divergence RSI on bottoms / tops
- Neckline touching sma20
General filter (screeners) :
- Mini stock price
- Mini average volume
- Average volume expressed in number of transaction or capital exchanged
Display Options (indicator) :
- Arrows on keypoints
- W / M’s triangles
- W / M’s lines
- Theoretical objective
Characteristics :
- Works on all TimeFrames
- ProRealTime V11 and later versions compatible
- Free ProRealTime (daily closings) compatible
- Automatic and free updates
Watch the video user’s guide on our Youtube channel, subtitles available in English :
🇫🇷 W, Double Bottom / 🇮🇹 W, Doppio fondo / 🇩🇪 W, Doppelter Boden / 🇪🇸 W, Doble fondo
🇫🇷 M, Double Top / 🇮🇹 M, Doppia Cima / 🇩🇪 M, Doppeltop / 🇪🇸 M, Doble Techo
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