Automatic Double Top finder indicator for Meta Trader 4 finds double-top and double-bottom chart patterns easily and implements breakout signals and alerts.
How to trade with Automatic Double Top finder indicator
This indicator can be used in any currency pairs and on any time frame, but preferably on H1 and lower. Moreover, it’s relatively easy to trade with Automatic Double Top finder indicator. After finding a possible entry point, the indicator displays either a blue arrow which is a bullish signal to buy, or a red arrow which is a bearish signal to sell.
Settings and Input Parameters
When loading the indicator to any chart, you will be presented with a set of options as input parameters. Don’t despair if you think they are too many because parameters are grouped into self-explanatory blocks.
Indicator Settings The amplitude represents the size of the patterns. The max. history bars parameter is the number of bars in the chart to look back. Fewer bars to evaluate means the indicator will load faster.
Patterns Choose the colors of the patterns.
Breakouts The indicator implements breakouts to make trading easier. Moreover, you can select the breakout period (in bars) and the color of the arrows to be displayed in the chart.
Alerts Enable or disable alerts at will.
Attention: Download Automatic Double Top finder indicator
The owner has removed the indicator from AtoZMarkets.
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How do you install an indicator on MT4?
To install this indicator on your MT4, you need to:
1. Find the indicator on AtoZMarkets indicator directory;
2. Save the file to your computer;
3. Extract and move the .ex4 file into MQL4Indicators;
4. Restart your Metatrader platform;
5. Click the “Indicators” button in the Metatrader toolbar;
6. Select “Custom”;
7. Search and select “indicator you have just downloaded”;
8. Adjust settings or press OK to add the indicator to your selected chart;
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