Forex double top scanner

The max. Fewer bars to evaluate means the indicator will load faster.

Breakouts: The indicator implements breakouts to make trading easier. Moreover, you can select the breakout period in bars and the color of the arrows to be displayed in the chart. If you would like to create your custom indicator, please contact the AtoZMarkets team. Please note, AtoZMarkets does not own any copyright on this instrument. We only share EAs, indicators and other tools from our users.

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Get Free Trading Signals Your capital is at risk. Our indicators can be used to identify double tops and double bottoms as they form either on a chart or to scan multiple markets simultaneously with the help of TradeStations RadarScreen or scanner. Once identified traders can then watch the pattern unfold and set alerts if they wish to be notified when the market has broken key levels. The indicators can also be inserted into a TradeStation RadarScreen to scan the market and identify double top and double bottom patterns as they setup and then monitor the market as the pattern evolves.

If after purchasing these indicators you decide they are not right for you just let us know within 30 days for a full refund.

Screenshots The screenshot below shows the double top pattern identified in a TradeStation chart. The yellow dot identifies the first peak of the double top and the red dot identifies the second peak. The white dot highlights the lowest point between the two peaks. The cyan dots are placed at the neckline. The NOV chart example below shows a longer term double top identified prior to the market selling off. The screenshot below is taken from the forex GBPUSD market and shows a double top formation being identified within an intraday chart.

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This next chart below shows a double top pattern detected in MSFT. In this example the indicator is set to place the neckline halfway between the valley low where the original neckline would be and the high peak of the pattern allowing for traders to be alerted earlier to a potential market reversal.

This IFF image below shows two double top patterns detected in close succession. The first potential double top fails to break the neckline and the market moves higher forming a second double top which subsequently does break the neckline and proceeds to sell off. The double top indicator can also be used as a breakout indicator to identify when markets breakout to new highs through a recent level of resistance.

In the DISCK chart below the breakout level is activated as shown by the gray dots and traders can be alerted as the market moves higher through the level of resistance set by the prior peaks of the double top. Everything said of the double top indicator is also true of the double bottom indicator, just flipped. Below is a screenshot showing a double bottom pattern detected in AVB. The next example is from CHD and shows the detection of another double bottom pattern.

The chart below shows a longer term double bottom detected in DGX before the market starts making new highs. Click to view all double top and double bottom indicator screenshots.

Additional Information The double top and double bottom indicators include multiple settings for customizing the indicators like adjusting the strength of the price peaks and the number of bars to be considered when monitoring for double tops. Traders can identify double top and bottom setups when they break through the neckline or alternatively they can be alerted earlier as soon as the two peaks of the double top are formed. When applied to a RadarScreen the double top and double bottom indicators provide additional information.

The double top indicator applied to a RadarScreen. While the primary focus above has been on the double top indicators the double bottom indicators include all the same features. Delivery You should expect to receive your order within 1 working day via email. Continued Support and Updates for a Minimum of 12 Months All our products include full support and updates for at least 1 year so if you have any problems or require any additional information you can contact us for assistance.

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