Triple Bottom and Triple Top Indicator Download for MT5 | Forex Indicator Download - MetaTrader 5 Resources - MetaTrader 5 Resources
The Triple Bottom and Triple Top indicator is a technical analysis tool available on the MetaTrader 5 platform. It detects potential trend reversal areas.
These patterns include three consecutive peak resistance areas (triple tops, shown in blue) or three straight troughs in a support zone (triple bottoms, shown in red), indicating a possible reversal in price direction.
Triple bottom and triple top spec sheet
The key parameters of the Triple Bottom and Triple Top indicators are shown in the table below.
| Indicator categories: | Price Action MT5 Indicators Charts and Classic MT5 Indicators Candlesticks MT5 Indicators |
| Platforms: | MetaTrader 5 Indicators |
| Trading Skills: | Intermediate |
| Indicator Types: | Inverse MT5 Indicator |
| Time frame: | Multi Time Frame MT5 Indicators |
| Trading Style: | Intraday MT5 Indicators |
| Trading Tools: | Forex MT5 Indicators Cryptocurrency MT5 Indicators Stocks MT5 Indicators Forwards MT5 Indicators Stocks MT5 Indicators |
Uptrend Conditions
On the hourly chart of GBP/JPY , a triple bottom pattern appears.
In this setup, the price moves against a specific support zone without breaking it. This recurring behavior reflects decreasing selling pressure and can indicate the beginning of an upward trend .
downtrend conditions
The chart below shows the AUD/CHF currency pair on a 30 minute time frame.
In this indicator, the triple top pattern sells a support break after three failed resistance attempts. This breakthrough indicates reduced demand and increased selling pressure .
Indicator Settings
The indicator setting panel is as shown below for triple bottom and triple top :
- Show zigzag line : Show zigzag line
- Pivot Period of ZigZag Line : ZigZag Pivot Period (number of candles required to detect turning point)
- Zig Zag Line Style : Display style of zigzag lines
- Zig Zag Line Color : The color of the zigzag line
- Zig Zag Line Width : The width of the zigzag line
- Proximity factor (maximum distance): the maximum distance allowed between peaks or valleys for pattern validation
- Showing Triple Bottoms and Triple Tops: Showing Triple Bottoms and Triple Tops Patterns
- TripleTop Color: The color of the triple top pattern
- TripleBottom Color : The color of the triple bottom pattern
Conclusion
The Triple Bottom and Triple Top indicators are useful in technical analysis for detecting reversal patterns, and a triple top breakout with support is considered a sell signal. A Triple Bottom with a breakout of resistance is considered a buy signal.
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