The indicator combines the “Double Bottom” and “Double Top” reversal patterns with the RSI divergence detection indicator.
- Easily detects strong reversal signals
- Allows you to use the “Double Bottom” and “Double Top” patterns and the RSI divergence signals together or separately.
- Receive notifications via email and / or to your mobile device when a signal is detected.
- You can use custom colors
- The indicator does not redraw
- You can use it as part of an Expert Advisor (see below)
- ENABLE Double Top-Bottom: Enable the “Double Bottom” and “Double Top”pattern indicator.
- ENABLE Divergence: enable the RSI divergence indicator.
- RSI Period: the RSI period.
- RSI Applied Price: The price of the bar used to calculate the RSI.
- Relationship between Double Top-Bottom and RSI Divergence-the relationship between the reversal pattern and the divergence of the RSI:
- Combined-sharing: all signals of the “Double Bottom” and “Double Top” patterns are shown, but the RSI divergence signals are shown only if they coincide with the “Double Bottom” and “Double Top”pattern. The “Double Bottom” and “Double Top” patterns and the RSI divergence indicator should be enabled.
- Independent-separate use: indicator signals are displayed independently of each other
- Number of Bars (odd number) [divergence only]: on this number of bars, the maximum or minimum will be determined, including the upper / lower bar. For example, with a value of 5, the maximum prices will be determined on bars whose maximum is higher than the maximum of the next two bars on the left and right. If the RSI Divergence indicator is used independently, it uses this mechanism to determine the highs and lows. Otherwise, the highs and lows are determined using the “Double Bottom” and “Double Top”indicator.
- ENABLE Metatrader Alert: receive an alert in the MetaTrader terminal when a divergence is detected.
- ENABLE Email Alert: receive an email notification when a divergence is detected.
- ENABLE Push Notification: Receive a push notification to your mobile device when a divergence is detected.
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- Combined-sharing: all signals of the “Double Bottom” and “Double Top” patterns are shown, but the RSI divergence signals are shown only if they coincide with the “Double Bottom” and “Double Top”pattern. The “Double Bottom” and “Double Top” patterns and the RSI divergence indicator should be enabled.
- Independent-separate use: indicator signals are displayed independently of each other
- Buy=0
- Sell=1
- Buy=0
- Sell=1
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