Double Top Double Bottom Pattern Indicator Download MT4 - Free | Forex Indicator Download - MetaTrader 4 Resources

The Double Top Double Bottom (DTDB) indicator displays classic patterns of the MetaTrader 4 Indicator (MT4). The DTDB Indicator is very useful for traders who want to identify these patterns . It shows a double top in blue and a double bottom in red.

Based on the Zig Zag indicator's default period of 3 , the DTDB Indicator marks these patterns on the chart and helps traders identify important market reversal points.

DTDB indicator table

Indicators at a glance

The Double Top and Double Bottom Pattern indicator is a practical and effective tool for traders to identify double top and double bottom patterns on price charts.

Utilizing the Metatrader 4 ZigZag indicator , which detects two peaks and two troughs and visualizes these patterns by drawing red lines for double bottoms and blue lines for double tops.

This feature allows traders to easily identify these important patterns and further simplifies labeling by displaying them directly on the chart.

double bottom pattern

In the 4-hour chart of USD/CAD , the market turned from a downward trend to an upward trend after showing a double bottom pattern. This DTDB Indicator , using the Zig Zag indicator, draws double bottom with high accuracy, enabling traders to easily trade using these patterns. This precise and efficient tool helps traders correctly identify and leverage market reversal points.

Double Top Pattern

On the 1 hour chart of USD/CHF, the market turned from an uptrend to a downtrend after a double top pattern appeared on the chart. This DTDB Indicator , using the Zig Zag indicator, draws double tops with high accuracy, allowing traders to easily exploit these patterns for trading. This precise and efficient tool helps traders correctly identify and exploit market reversal points.

DTDB indicator settings

• Zigzag line properties: Select Zig Zag line settings;
• Show Zig Zag Line: Select to display the zigzag line;
• The pivot period of the Zig Zag line: Select the Zig Zag line period;
• Zig Zag Line Style: Select the style of zigzag line;
• Zig Zag Line Color: Select the color of the zigzag line;
• Zig Zag Line Width: Select the width of the zigzag line;
• Double top and double bottom attributes: Select the settings of "double top" and "double bottom";
• Proximity Percent: Select proximity percentage;
• Show double tops and double bottoms: Select to show double tops & double bottoms;
• Double Top Color: Select the color of the double top;
• Double bottom color: Select the color of the double bottom.

Conclusion

The Double Top and Double Bottom (DTDB) indicator shows double top and double bottom patterns on the chart. These patterns are the most commonly used in technical analysis as well as some of the most recognized classic patterns, helping traders identify and exploit them on charts. This DTDB Indicator accurately detects and plots these patterns, enabling traders to exploit them for trading and identify market reversal points.