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Thread: Double Bottoms Double Tops Pattern

  1. #1
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    Default Double Bottoms Double Tops Pattern

    Hi,

    In my search for a double tops/double bottoms pattern (MT4 indicator), all I have found is a metastock script. Any one can please help in converting this metastock to an MT4 indicator?

    Double Tops
    PK:=Zig(C,10,%)<Ref(Zig(C,10,%),-1) AND
    Ref(Zig(C,10,%),-1)>Ref(Zig(C,10,%),-2);
    TR:=Zig(C,10,%)>Ref(Zig(C,10,%),-1) AND
    Ref(Zig(C,10,%),-1)<Ref(Zig(C,10,%),-2);
    PK1:=PeakBars(1,C,10);
    PK2:=PeakBars(2,C,10);
    (ValueWhen(1,PK,Ref(C,-1)) / ValueWhen(2,PK,Ref(C,-1))>.96 AND ValueWhen(1,PK,Ref(C,-1)) / ValueWhen(2,PK,Ref(C,-1)) < 1.04) AND
    PK2-PK1>=10 AND Cross(ValueWhen(1,TR,Ref(C,-1)),C)





    Double Bottoms
    PK:=Zig(C,10,%)<Ref(Zig(C,10,%),-1) AND
    Ref(Zig(C,10,%),-1)>Ref(Zig(C,10,%),-2);
    TR:=Zig(C,10,%)>Ref(Zig(C,10,%),-1) AND
    Ref(Zig(C,10,%),-1)<Ref(Zig(C,10,%),-2);
    TR1:=TroughBars(1,C,10);
    TR2:=TroughBars(2,C,10);
    (ValueWhen(1,TR,Ref(C,-1))/ ValueWhen(2,TR,Ref(C,-1))>.96 AND ValueWhen(1,TR,Ref(C,-1)) / ValueWhen(2,TR,Ref(C,-1)) < 1.04) AND
    TR2-TR1>=10 AND Cross(C,ValueWhen(1,PK,Ref(C,-1)))



    Thanks in advance,

    way2Freedom

  2. #2
    Administrator funyoo's Avatar
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    What is double bottoms, double tops for you ?

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    Quote Originally Posted by funyoo View Post
    What is double bottoms, double tops for you ?
    Wow funyou, I am impressed by your quality of service. Thanks for taking the time to elabore the subject.


    Here is the descrition of the metastock script and it is exactly what I am looking after:


    Title: Double Tops and Double Bottoms by Thomas Bulkowski
    Description: In the February 1998 issue of Technical Analysis of Stocks & Commodities magazine, Thomas Bulkowski discusses the use of Double Bottoms as a means offinding profitable trades. In MetaStock for Windows, you can find both Double Tops and Double Bottomswith these formulas. There is a caveat however. In the article, Mr. Bulkowski utilizesthe High-Low range in finding Double Bottoms. These formulas use only the close value, so a few of the lower pricedissues will not produce signals in MetaStock. Overall, however, these formulas produce most of the major signalshe discusses.


    Cheers,

    way2Freedom

  4. #4
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    Quote Originally Posted by way2Freedom View Post
    Wow funyou, I am impressed by your quality of service. Thanks for taking the time to elabore the subject.


    Here is the descrition of the metastock script and it is exactly what I am looking after:


    Title: Double Tops and Double Bottoms by Thomas Bulkowski
    Description: In the February 1998 issue of Technical Analysis of Stocks & Commodities magazine, Thomas Bulkowski discusses the use of Double Bottoms as a means offinding profitable trades. In MetaStock for Windows, you can find both Double Tops and Double Bottomswith these formulas. There is a caveat however. In the article, Mr. Bulkowski utilizesthe High-Low range in finding Double Bottoms. These formulas use only the close value, so a few of the lower pricedissues will not produce signals in MetaStock. Overall, however, these formulas produce most of the major signalshe discusses.


    Cheers,

    way2Freedom
    Ok I don't understand the idea. Maybe it is about two equal close values forming a same High or a same Low...

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    Quote Originally Posted by funyoo View Post
    Ok I don't understand the idea. Maybe it is about two equal close values forming a same High or a same Low...
    any chance to convert the metastock code I bieleve the metastock functions used can be converted.


    Cheers,

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    Quote Originally Posted by way2Freedom View Post
    any chance to convert the metastock code I bieleve the metastock functions used can be converted.


    Cheers,
    I admit that I have not the knowledge to do a such conversion.

  7. #7
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    Quote Originally Posted by funyoo View Post
    I admit that I have not the knowledge to do a such conversion.
    maybe the double top and double bottom just like attached pics.
    i have read from the another forum which is discused about this succesfull trading technique
    Attached Images Attached Images Double Bottoms Double Tops Pattern-dtdb-gif 

  8. #8
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    Double bottom or double top especially on a daily chart will signal an impending reversal of the trend.Indicator is even stronger if it does triple bottom/top.Level of extremely high resistance or support but again has a value on at least a daily chart.

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analysis, high, indicator, low, mt4, pattern, profitable, resistance, signal, signals, stocks, support, technical analysis, time, trading, trend

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