everget

Feb 25, 2019 10:23 PM

Double Bottom Pattern Identifier

New Zealand Dollar/Japanese YenFXCM

Description

⋅ Feb 25, 2019 10:23 PM

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 possible bottoms.

By default, all watchers wait for bar closing to avoid repainting issues. You can switch off this option.

Additionally, you can shift down the signal labels to the preferred distance and set an alert for a new pattern found.

NOTE: the blue straight lines are not included.

Release Notes

⋅ Feb 25, 2019 11:22 PM

Cleaned the code

Release Notes

⋅ Feb 10, 2020 5:24 PM

Major update

Release Notes

⋅ Jun 4, 2020 2:00 PM

Update

Release Notes

⋅ Jun 4, 2020 4:47 PM

Update

Release Notes

⋅ Jun 5, 2020 1:41 PM

Update

Release Notes

⋅ Apr 9, 2021 11:17 PM

Added statistics
Neckline, Take Profit and Stop Loss reforged
DB and Long labels now have tooltips
New options for Take Profit: Points, Pips
New options for Stop Loss: Last Bottom, Points, Pips
Alerts reforged

Release Notes

⋅ Apr 10, 2021 4:27 PM

Fixed a minor issue with patterns overlapping

Release Notes

⋅ Apr 18, 2021 1:40 AM

Fixed bug with TP/SL levels plotting

Comments

karbonbruar

⋅ Feb 15, 2023 10:55 AM

hi there, would really appreciate if i can access to this so i can backtest. thank you

kavishagnani

⋅ Jan 21, 2020 9:49 AM

Hi may I test this indicator please.

everget

⋅ Jan 24, 2020 1:55 PM

@kavishagnani, yes you can

J987965

⋅ Mar 3, 2021 3:53 PM

@everget, i appreciate that

J987965

⋅ Mar 3, 2021 3:54 PM

is there a way to use this script to scan for potential or actual double bottoms? @everget,

chiranjit24

⋅ Jul 14, 2023 4:46 AM

@everget, Sir ,Could u allow me to access your double bottom indicator ...Request kindly allow for access.

everget

⋅ Jul 24, 2023 10:31 PM

@chiranjit24, Hi, sure. 2 weeks to try

cbose1983

⋅ Jul 25, 2023 12:41 AM

@everget, not getting access ,pls allow sir.

everget

⋅ Jul 27, 2023 11:06 PM

@cbose1983, done

cbose1983

⋅ Jul 28, 2023 1:38 AM

@everget, thank u sir....I already started using but it works in 1 min chart how can I use it 4hr or 1 day chart ,pls help me understand.1 min is by default 20 candles.