Double Top & Double Bottom Pattern Indicator Download for MT4 - Free

The Double Top & Double Bottom (DTDB) Indicator displays classic patterns on the Meta Trader 4 (MT4) chart. The DTDB Indicator is highly useful for traders looking to identify these patterns. It shows double tops in blue and double bottoms in red. Based on the Zig Zag indicator with a default period of 3, the DTDB Indicator marks these patterns on the chart and helps traders identify significant market reversal points.

DTDB Indicator Table

Double Bottom Pattern

In the 4-hour chart of USD/CAD, after displaying a double bottom pattern on the chart, the market's downtrend changed to an uptrend. The DTDB Indicator, using the Zig Zag indicator, draws the double bottom with high precision, enabling traders to easily use these patterns for their trades. This precise and efficient tool helps traders correctly identify and leverage market reversal points.

Double Top Pattern

In the 1-hour chart of USD/CHF, after displaying a double top pattern on the chart, the market's uptrend changed to a downtrend. The DTDB Indicator, using the Zig Zag indicator, draws the double top with high precision, allowing traders to easily utilize these patterns for their trades. This precise and efficient tool helps traders correctly identify and leverage market reversal points.

DTDB Indicator Settings

• Zig Zag Line Properties: Select Zig Zag line settings;
• Show Zig Zag Line: Choose to display the Zig Zag line;
• Pivot Period of Zig Zag Line: Select the Zig Zag line period;
• Zig Zag Line Style: Choose the style of the Zig Zag line;
• Zig Zag Line Color: Choose the color of the Zig Zag line;
• Zig Zag Line Width: Choose the width of the Zig Zag line;
• Double Top & Double Bottom Properties: Select settings for Double Top & Double Bottom;
• Proximity Percent: Choose the proximity percentage;
• Show Double Top & Double Bottom: Choose to display Double Top & Double Bottom;
• Double Top Color: Choose the color for Double Top;
• Double Bottom Color: Choose the color for Double Bottom.

Conclusion

The Double Top & Double Bottom (DTDB) Indicator displays double top and double bottom patterns on the chart. These patterns, among the most commonly used in technical analysis and some of the most recognized classic patterns, help traders identify and utilize these patterns on the chart. The DTDB Indicator accurately detects and draws these patterns, allowing traders to use them to enter trades and determine market reversal points.