█ This indicator shows V bottom & V top patterns as well as potential V bottom & V top.
These V bottom & V top are chart powerful reversal patterns.
They appear in all markets and time-frames, but due to the nature of the aggressive moves that take place when a market reverses direction, it can be difficult to identify this pattern in real-time.
To address this...
I may not be able to spend much time on the harmonic patterns and realized that there are not much open source scripts on them either. Hence, decided to release open source version which can be used by other developers for reference and build things on top of it.
Original script is protected and can be found here:
Logical ratios of patterns are coded as below:...
This is zigzag based double top/bottom indicator. Code is same as : Double-Top-Bottom-Ultimate
But, republishing it to make it available open source.
Double Top:
Recognition - Checks on Zigzag if LH is followed by HH
Confirmation - When low crosses under last lower pivot point on zigzag
Invalidation - When high crosses over HH
Double Bottom:
...
Here is an attempt to identify double top/bottom based on pivot high/lows.
Logic is simple.
Double Bottom:
Last two pivot High Lows make W shape
Last Pivot Low is higher than previous Last Pivot Low.
Last Pivot High is lower than previous last Pivot High.
Price has not gone below Last Pivot Low
Price breaks out of last Pivot High to complete W...
This indicator is based on ta.pivothigh and ta.pivotlow function. And with the help of different ph and pl I am detecting double top and double bottom.
Features
1. All signal are on realtime means no repaint
2. Able to detect precise double top & bottom
Input Field
Pivot Length : Default 10 => Use to detect pivot point
I decided to make this formerly invite only script public (you can find the invite only version here
If you are part of the invite only you don't need to change scripts. I will push improvements first on the invite only script but in time it will come to this version as well.
I would love to know your ideas and thoughts on how this indicator can be improved, so...
Double top and bottom patterns are chart patterns that occur when the underlying investment moves in a similar pattern to the letter "W" (double bottom) or "M" (double top).
In this strategy, I use Pivot High/Low to find Double top and bottom.
Entry long: when Double bottom occur.
Entry short: when Double top occur.
Risk: Reward: You can change % Stop loss and...
Our proprietary algorithm supports two types of Signals to choose from (and uses Matrices to keep track of the various waves): 'Fibonacci Extensions' where it spots extended waves (XABC) to predict AB=CD moves and puts the Take Profit levels accordingly to commonly used Fibonacci ratios; OR 'P&V' which stands for Peaks & Valleys (M and W) capturing full Peaks and...
I - Overall Ideas
Smart Patterns indicator is an indicator that help you scan and detect common Technical Analysis Price Patterns with flexibility in Accurate level and Sensitivity level.
This indicator works effective in all markets (Stocks, Forex, Cryptocurrencies, Bonds…) and can be used in all timeframes (M1, M15, H1, H4, D1…)
Smart Patterns ...
Hellow traders, this is my final script regarding double top/bottom pattern recognition. This script is built based on zig zag indicator whereas the previous ones are built based on pivot points.
Double Top:
Recognition - Checks on Zigzag if LH is followed by HH
Confirmation - When low crosses under last lower pivot point on zigzag
Invalidation -...
This is an enhanced version of Double Top/Bottom detector.
Initial basic version can be found here:
Concept of deriving pattern is similar but there are few major changes.
Double Top:
Get the highest pivot high from last X pivot highs ( DTHigh1 )
Look for next top most pivot high which happened after DTHigh1 ( DTHigh2 )
Look for lowest pivot low...
This is a double bottom indicator with an alert that has many settings to customize your double bottom .
From Wikipedia "A double bottom is the end formation in a declining market. The pattern is formed by two price minima separated by local peak defining the neck line. The formation is completed and confirmed when the price rises above the neck line, indicating...
Automatic Double Top and Double Bottom pattern scanner for any time frame, any asset.
Simple to use, just add to your chart, and set the size (in the settings) for the patterns you want to find.
• Green patterns are bullish
• Red patterns are bearish
• Alerts are available for when new patterns are displayed
• When a pattern completes (at the neckline), it...
Private Indicator
Version Alpha
The indicator is subject to changes.
This indicator's goal is to help automatically find double top and double bottom patterns.
Its core algorithm uses purely price action and does not use any kind of overbought/oversold oscilator.
To be validated, a double top/bottom must be preceded by a simple top/bottom.
...
I think everybody knows the Double Bottom Pattern, so I omit the introduction.
The algorithm uses 8 internal watchers to identify the incomplete W-pattern. If any of the watchers finds the pattern, the signal will be plotted on the chart. You can customize the lookback periods for the watchers as well as you can specify the precision of the difference between two...
![BTCUSDT: V Bottom & V Top Pattern [Misu]](https://s3.tradingview.com/6/6qmzhNzi_mid.png "V Bottom & V Top Pattern [Misu]")
![GBPEUR: Double Top Double Bottom [MS]](https://s3.tradingview.com/d/dnQAKlk4_mid.png "Double Top Double Bottom [MS]")
![BTCUSD: Cyatophilum Double Top & Bottom [ALERTSETUP]](https://s3.tradingview.com/p/pNlCkgWN_mid.png "Cyatophilum Double Top & Bottom [ALERTSETUP]")
