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The indicator scans up to 15 trading instruments and up to 21 timeframes for the presence of high-probability patterns of the patternDouble top and double bottom with false breakouts.

What determines this indicator?:

This indicator finds a special form of such patterns, the so-called double tops and bottoms, the so-calledDouble top and double bottom with false breakouts.

The “Double Top with false breakouts” pattern is formed when the maximum price of the right shoulder is higher than the left shoulder. The “Double bottom with false breakouts” pattern is formed when the minimum price of the right shoulder is lower than the left shoulder.

These special “Double Top/Double Bottom” models are created by “sure money” to increase the size of their own position. With false breakouts, “sure money” tries to lure as many traders as possible to the wrong side of the market. After that, the “right money” abruptly changes direction. Trapped traders panic, close or even reverse their positions. This makes the reversal very strong and profitable. The indicator detects exactly these tricks of the “right money” and gives input signals with a high probability of success.

This free version only works on EURUSD and GBPUSD. The full version of the indicator is available at: Ultimate Double Top Bottom Reverse Scanner

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The concept of the Ultimate Double Top/Bottom indicator and the professional method of its application are described in detail in the blog (in English): Professional Trading With Double Tops/Bottoms And Divergences!

Alerts are provided in the MetaTrader 5 terminal, via email and in the form of push notifications when a signal appears on any configured timeframe and trading instrument.

The indicator should be installed only on one chart. It will automatically scan up to 15 instruments and up to 21 timeframes! If you need to analyze more than 14 symbols, additionally run the indicator on a different chart.

The indicator should be installed only on one chart. It will automatically scan up to 15 instruments and up to 21 timeframes! If you need to analyze more than 14 symbols, additionally run the indicator on a different chart.

The purpose of the indicator is to provide trading signals that allow you to trade without having to constantly sit in front of the terminal. On normal charts, you will only see the panel as shown in the video. The indicator does not display signals on the charts in real time.

To see the signals in real time, purchase the Ultimate Double Top Bottom Reverse Indicator in addition

  • alertsLong: True = yes, False = no-enable alerts for purchases if true
  • alertsShort: True = yes, False = no-if true, enable alerts for sales
  • alertsViaMT5: True = lf, False = no – if true, the indicator will notify you with messages in the MetaTrader 5 popup
  • alertsViaEmail: True = yes, False = no-if true, enable sending alerts by email
  • alertsViaPush: True = yes, False = no-if true, enable push notifications on mobile devices
  • alertsM1 – alertsMN1: True = yes, False = no, if true, the indicator looks for signals of “Double Top/Double Bottom” patterns on the corresponding timeframe, for example, M1, M2, etc. The choice of time frames for analysis.
  • templateName – when you click on the button on the chart (with the symbol name), the corresponding chart opens, to which the template with the specified name is applied
  • checkEveryXSeconds-every X seconds, the indicator checks the next symbol/timeframe for a pattern
  • i1-i2-EURUSD and GBPUSD, the instruments on which the presence of pattern signals should be checked.

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Published

06 July 2018

Updated

Current Version

1.0

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