Triple Bottom and Triple Top Indicator Download for MT4 | Forex Indicator Download - MetaTrader 4 Resources - MetaTrader 4 Resources

The Triple Bottom and Triple Top indicator is a classic structural technical analysis used to identify potential trend reversal points.

These patterns consist of three consecutive peaks (shown in blue in a triple top pattern) or three straight troughs (shown in red in a triple bottom pattern).

Triple Bottom and Triple Top Characteristics Table Specifications Table

The table below lists the characteristics of the triple bottom and triple top pattern indicators.

Uptrend Conditions

On the EUR/USD chart , the triple bottom pattern appears after a short-term downtrend. This market reacts to the support zone with three touches, showing increasing demand and decreasing selling pressure .

Once this support level holds , the chance of price reversal and uptrend starts to increase .

downtrend conditions

The chart below shows a downtrending CAD/CHF chart .

In this case, the triple top pattern gives a sell signal when the price fails to reach the target and then forms three relatively equal peaks after breaking through the resistance . A subsequent break above the support area confirmed the bearish trend, reflecting weak demand and growing selling pressure .

Indicator Settings

The triple bottom and triple top indicators can be customized as shown below:

• Show jagged lines: Show jagged lines
• Pivot period of the Zigzag line: Pivot period of the Zigzag line (the number of candles required to detect a turning point)
• Zig Zag Line Style: Display style of zigzag lines
• Zig Zag Line Color : Zig Zag line color
• Zig Zag Line Width: Zig Zag Line Width
• Proximity factor (maximum distance): The maximum allowed distance between the peaks or troughs of a confirmation pattern
• Showing Triple Bottoms and Triple Tops: Showing Triple Bottoms and Triple Tops Patterns
• TripleTop Color: The color of the triple top pattern
• TripleBottom Color: Color of triple bottom form

Conclusion

The Triple Bottom and Triple Top indicators detect bullish and bearish reversal patterns. A triple top sends a sell signal when support is broken, while a triple bottom sends a sell signal when resistance is broken.

In MetaTrader 4 version when using this tool, the distance between peaks or troughs is calibrated according to 0.5 units of the ATR indicator , enhancing pattern accuracy .