The indicator simultaneously analyzes the price charts of several currency pairs on all timeframes and sends a notification as soon as the “Double Top” and “Double Bottom” patterns are detected.

A “Double Top” is a trend reversal pattern that consists of two consecutive peaks, roughly equal to each other, and a trough between them. This pattern is a vivid illustration of the struggle between buyers and sellers. Buyers try to strengthen their positions, but meet with resistance, which prevents the continuation of the uptrend. After this happens a couple of times, buyers in the market begin to “wither”, and sellers cling to the market with a stranglehold, which sends the market into a new downtrend.

“Double bottom” (Double Bottom) — a pattern opposite to the “Double top”, as it signals a reversal of the downtrend and its transition to an uptrend.

• Automatically downloads historical price data from the broker’s server.
• In parallel, it tracks all currency pairs on all timeframes.
• You can configure which pairs and timeframes you want to receive notifications from.

Settings for the “Double Bottom” and “Double Top” patterns”

• Filter Type-select the condition for receiving alerts. The condition may be the achievement of the second vertex or the breakdown of the isthmus line. Additional explanation is shown in the screenshots;
• Bars Interval – Minimum number of bars between vertices;
• Peak Distance – The maximum allowable price difference between the vertices (in pips);
• Trend Distance – The minimum distance between the beginning of the trend and the isthmus (in pips);
• Lot Size – the lot size for calculating the target profit

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Currency pairs and timeframes

• Symbols-Currency pairs to track. Each pair is separated by a comma, and its name must be identical to the symbol displayed in the terminal window ” Market Overview”;
• M1 – True for tracking this timeframe;
• M5-True for tracking this timeframe;
• M15 – True for tracking this timeframe;
• M30-True for tracking this timeframe;
• H1-True for tracking this timeframe;
• H4-True for tracking this timeframe;
• D1-True for tracking this timeframe;
• W1-True for tracking this timeframe;
• MN1 – True for tracking this timeframe;

Notifications

• AlertNotification-True to display a message in the terminal when a signal appears;
• PushNotification – True for sending push notifications to mobile;
• MailNotification – True for sending email notifications.

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