The double top and bottom Forex MT4 chart pattern indicator finds the best double top and bottom patterns on autopilot for you.
Double tops and bottoms chart patterns are powerful trend reversal patterns that are easy to find with the help of this indicator.
The indicator alerts when the double top or bottom pattern appears on the chart.
Just load the Double Top and Bottom Forex Pattern indicator onto the Metatrader 4 chart and start trading with it in minutes.
Key Takeaways
- A double bottom chart pattern is considered bullish. The trend is likely to go up after the pattern appears on the chart.
- A double top chart pattern is considered bearish. The trend is likely to down up after the pattern appears on the chart.
- The indicator finds double top and double bottom chart patterns for any currency pair and time frame.
- Pure price action without lagging indicators involved.
Feel free to explore the Double Top and Bottom Forex Pattern indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “double-top-bottom-patterns.ex4” Metatrader 4 indicator
Indicator Example Chart (EUR/USD D1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Double Top and Bottom Forex Pattern MT4 Forex Indicator
Buy Signal: Go long when the blue arrow appears on the chart. This is a double bottom chart pattern.
Place your stop loss slightly below the low of the double bottom chart pattern, or use your own favorite stop loss method.
Exit the buy trade for a reward/risk ratio of 2.0 or better, or use your own favorite take profit method.
Alternatively, close the trade for a fixed profit target of your preference.
Sell Signal: Go short when the red arrow appears on the chart. This is a double top chart pattern.
Place your stop loss slightly above the high of the double top chart pattern, or use your own favorite stop loss method.
Exit the sell trade for a reward/risk ratio of 2.0 or better, or use your own favorite take profit method.
Alternatively, close the trade for a fixed profit target of your preference.
Download This Forex Indicator Now
Download the “double-top-bottom-patterns.ex4” MT4 indicator
Adjustable Parameters
Breakout, alerts, colors, width, style.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: chart pattern
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
