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Double top is a very common chart pattern, as its name indicates, it consists of two tops, and these two tops need to be in a relative flat price level. One of the top can't be much higher or lower than another one.
This indicator will detect and highlight the double top pattern automatically on the chart and alert you.
Features and inputs:
Range(input): check if the first top was the highest High in given Range of bars.
Strength(input): minimum number of bars used to form each top.
Choose the alert sound file you want to use from a drop-down menu.
Switch ON/OFF of alert.
It works on all timeframes and any symbol. It will draw a line right after the pattern is formed.
Double top is a candlestick chart pattern, that's why it works the same on all timeframes, as long as the volatility is good.
On a low volatility chart, doesn't matter what timeframe it is, could form unstable or less accurate patterns.
So it's actually not about the timeframe, it's about the volume or volatility.
You can also load more than one with different inputs to get more results on the chart.
There is a plot (a cyan dot) which is used to check if a double top chart pattern has been formed.
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