Popular tags: Support, Resistance, Trend, Range, Fibonacci, Wave, Divergence, Multi time frames(MTF), Swing, Volume, Overbought, Oversold
Customization and Conversion for: MetaTrader(MT4, MT5), Thinkorswim, NinjaTrader, MultiCharts, Tradingview, Prorealtime, SierraChart, etc.
 


Double bottom chart pattern indicator with alert for Ninjatrader 8

Double bottom chart pattern indicator with alert for Ninjatrader 8
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Price: $99.00USD $89.00USD
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This is a Permanent access license. Please follow these “3rd Party Licensing” steps within NinjaTrader, to properly enable your license for any of the NinjaScript.

 A Google drive download link will be sent to you after your ID is activated.
 


A double bottom is a charting pattern used in technical analysis. It describes the drop of a stock or index, a rebound, another drop to the same or similar level as the original drop, and finally another rebound. The double bottom looks like the letter "W". The twice-touched low is considered a support level. Source: https://www.investopedia.com/terms/d/doublebottom.asp

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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