Double Top Tracker Free Version

This indicator analyzes in parallel price charts for multiple currency pairs on all timeframes and notifies you as soon as a double tops or double bottoms pattern has been identified. The alert occurs when the the second peak has been reached.

Double Top is a trend reversal pattern which are made up of two consecutive peaks that are more and less equal with a trough in-between. This pattern is a clear illustration of a battle between buyers and sellers. The buyers are attempting to push the security but are facing resistance, which prevents the continuation of the upward trend. After this goes on a couple of times, the buyers in the market start to dry up, and the sellers start to take a stranglehold sending it down into a new downtrend.

Double Bottom is the opposite chart pattern of the double top as it signals a reversal of the downtrend into an uptrend.

Features

• Loads automatically historical price data from broker server
• Tracks all currency pairs for all timeframes in parallel
• Configures which currency pairs on which timeframes you want to be alerted

Inputs

Double Top/Bottom settings

• BarsInterval - Minimum of bars between peaks;
• PeakDistance - Maximum price distance between peaks (unit in pips);
• TrendDistance - Minimum distance between the beginning of the trend and the neck (unit in pips);

Currency Pairs and Timeframes

• Symbols- Currency pairs to monitors. Each pairs are separated by a coma and the name has to be identical to symbol name displayed into the Market Watch;
• M1 - True to monitor this timeframe;
• M5 - True to monitor this timeframe;
• M15 - True to monitor this timeframe;
• M30 - True to monitor this timeframe;
• H1 - True to monitor this timeframe;
• H4 - True to monitor this timeframe;
• D1 - True to monitor this timeframe;
• W1 - True to monitor this timeframe;
• MN1 - True to monitor this timeframe;

Notification

• AlertNotification- True to enable messages in the terminal when signals occur;
• PushNotification- True to enable sending push notifications to mobile devices;
• MailNotification- True to enable sending emails;