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This indicator will detect and highlight double bottom pattern automatically on chart and alert you.
Features and inputs:
Range(input): check if the first bottom was the lowest Low in given Range of bars.
Strength(input): minimum number of bars used to form each bottom .
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 bottom 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 bottom chart pattern has been formed.
You can use this plot in Market Analyzer and Strategy.
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