This indicator analyzes parallel price charts for multiple currency pairs over all time ranges and notifies you as soon as the double-top or double-bottom shape is determined.
Define the shape of double top / double bottom.
Double crest is a pattern of trend reversal, which consists of two consecutive peaks, which are more or less equal to the trough in the middle. This model clearly illustrates the struggle between buyers and sellers. Buyers try to boost safety but face resistance, which hinders the continuation of the upward trend. After this situation lasted several times, buyers in the market began to dry up and sellers began to stifle the market, pushing it into a new downward trend. This is a strong signal that the reversal is about to happen because it tells us that the buying pressure is coming to an end.
The double bottom is the opposite chart pattern of the double top, because it indicates that the downward trend turns to the upward trend.
Automatically load historical price data from the broker server.
Track all currency pairs in all time ranges in parallel.
Configure the currency pairs within which you want to receive an alert.
Estimate profit targets for each determined double-top / double-bottom.
Double top / double bottom setting.
Filter Type-Select when you want to receive alerts. Either the second top is reached, or the neckline is broken. For more explanation, see the product screenshot.
Minimum bar between bar spacing and peak value.
Peak Distance-maximum price distance between peaks (in points).
Trend Distance-minimum distance between the start of the trend and the neck (in points).
Number of hands-used to calculate target profit.
Currency pairs and time frame.
Symbol-the currency pair of the monitor. Each pair is separated by a comma and the name must be the same as the symbol name shown in Market Watch.
M1-True monitors this time range.
M5-True monitors this time range.
M15-True monitors this time range.
M30-True monitors this time range.
H1-True monitors this time range.
H4-True monitors this time range.
D1-True monitors this time range.
W1-True monitors this time range.
MN1-True monitors this time range
Go to China Forex Forum to download this Forex index:https://www.feixu.xyz/thread/1128