The ultimate double top and bottom reversal indicator is a free double top and bottom indicator built for mt4. This indicator allows you to detect high probability reversal patterns, giving you entry, stop loss and exit signals.
The following sketch shows how double bottomstops with fake breakouts look like.
a double top or bottom is a chart pattern, characterized by two consecutive peaks or valleys in price, that signals a potential price reversal.
How to install the double top & bottom patterns indicator on your metatrader 4 trading platform? Download the indicator by clicking link button at the bottom of this post.
Double top and bottom pattern metatrader 4 forex indicator the double top and bottom pattern forex indicator for mt4 scans and displays double top and double bottom reversal chart patterns on the metatrader 4 chart. The indicator draws the reversal chart pattern on the chart and displays the accompanying buy or sell arrow.
filter 1 the smaller picture and the look of the double topbottom itself. A good double topbottom should take out a recent topbottom followed by a fast rejection. The strong momentum is a sign that the smart money has most probably finished its accumulation phase and starts its profit release phase (the big move).
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