fluffykat

Fluffykat's Double Top indicator with alert v1

fluffykat Updated   
This is a free double top indicator with an alert that has many settings to customize your double top.

From Wikipedia "The double top is a frequent price formation at the end of a bull market. It appears as two consecutive peaks of approximately the same price on a price-versus-time chart of a market. The two peaks are separated by a minimum in price, a valley. The price level of this minimum is called the neck line of the formation. The formation is completed and confirmed when the price falls below the neck line, indicating that further price decline is imminent or highly likely."

The following can be customized:

  • The left and right bar strengths for both the Right Top (RT) and Left Top (LT). For an explanation on RT/LT bar strength see (pivothigh) tradingview pine script API notes.
  • The price variance in % between RT / LT
  • The minimum and maximum allowable separation between RT/LT
  • Ability to toggle visibility of prices

Best regards.
Release Notes:
  • Can now detect multiple tops! Choose to detect triple, quadruple or how ever many tops before getting an alert!
  • Fixes edge case bug which would miss a legitimate double top
  • Improves performance
  • Improves settings
Release Notes:

  • Due to popular demand I've added a premium feature to this free indicator - you can now get an alert before double top is confirmed. Just set the percentage from resistance you want alert.
  • breaking change: can no longer set RT right strength.
  • Added user guide (see linked images)
  • Added more tooltips to settings
  • fixed some bugs
  • Renamed script to simply 'Double Top Indicator'
Release Notes:
Bug fixes
Release Notes:
  • Bug fixes
  • Updated graphics
  • Removed multi-top detection. Will be releasing a free dedicated multi-top indicator instead
Release Notes:
Fixes styling issue.
Protected script
This script is published closed-source but you may use it freely. You can favorite it to use it on a chart. You cannot view or modify its source code.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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