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Triple Top / Bottom 4.0

Metatrader Indicator (MT4/MT5)

  • Overview

    The triple top and bottom pattern is a type of chart pattern used in to predict the reversal of trend. The pattern occurs when the price creates three peaks at nearly the same price level. The bounce off the resistance near the third peak is a clear indication that buying interest is becoming exhausted, which indicates that a reversal is about to occur.

    • Clear trading signals
    • Customizable colors and sizes
    • Implements performance statistics
    • Customizable Fibonacci retracement levels
    • Displays suitable stop-loss and take-profit levels
    • The indicator can be used to find continuation or reversal patterns
    • It implements email/sound/visual alerts

    These patterns can expand, and the indicator follows the pattern by repainting. However, the indicator implements a twist to make it easier to trade: it waits for a Donchian breakout in the right direction before signaling the trade, making its signals very reliable and mostly non repainting.

  • Input parameters
    Input parameters

    When loading the indicator or EA 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.

    Amplitude
    The amplitude represents the minimum amount of bars between alternative price points. To find big patterns, increase the amplitude parameter. To find smaller patterns, decrease the amplitude parameter.
    Min. Retracement
    The minimum fibonacci retracement needed in a pattern. Set to zero not to evaluate it.
    Max. Retracement
    The maximum fibonacci retracement possible in a pattern. Set to zero not to evaluate it.
    Top/Bottom Retracement
    This parameter describes how "flat" must the top or bottom be.
    Max History Bars
    Amount of past bars to evaluate when the indicator loads in the chart.
    Display Stats
    Show or hide the statistics dashboard and performance data.
    Display SL/TP Levels
    Show or hide the suitable stop-loss and take-profit levels for each signal.
    Drawing Options
    Colors and sizes for bullish or bearish lines and labels, as well as font sizes.
    Breakouts
    Colors and sizes for breakout arrows.
    Alerts
    Enable or disable alerts at will.
  • ? FAQ
    Does the indicator repaint?
    No, the indicator does not repaint or backpaint at all.
    Does the indicator back paint?
    No, the indicator does not back paint.
    Can patterns be displayed before the breakout happens?
    No, it can't. The pattern and the breakout arrow are displayed exactly as the same time, to prevent the indicator from repainting.
    Does the indicator implement alerts?
    Yes, it does. It implements alerts of all inds.
  • </> Developers

    In order to build your expert advisor, you can read data from the indicator using the iCustom() function as exemplified below. The indicator has one extra buffer which only purpose is to store trading signals as constants: this is the only buffer you need to read from. Copy and paste the code below into your EA, and replace the indicator name of the iCustom() call with your own.

    //---- Read value from data buffer
    int start()
    {
    // Read signal and pattern
    double pattern = iCustom(Symbol(), Period(), "PZ_TripleTopBottom_LICENSENUM", 0, 1);
    double signal   = iCustom(Symbol(), Period(), "PZ_TripleTopBottom_LICENSENUM", 1, 1);
    // Do something
    if(pattern == OP_BUY)    { /* Your code for triple bottom (no breakout yet) */ }
    if(pattern == OP_SELL)   { /* Your code for triple top (no breakout yet) */ }
    if(signal == OP_BUY)      { /* Your code for bullish breakout */ }
    if(signal == OP_SELL)     { /* Your code for bearish breakout */ }
    if(signal == EMPTY_VALUE) { /* Your code if no pattern or breakout */}
    // Exit
    return(0);
    }
  • Comments

    Keep comments tidy and respectful. Avoid spam, offensive remarks, self-promotion and posting personal or payment information. The comment section is for discussion and questions only. Please note that we'll never solicit payments in the comments section.

Screenshots

Triple Top / Bottom Indicator for Metatrader
Triple Top / Bottom Indicator for Metatrader
Triple Top / Bottom Indicator for Metatrader
Triple Top / Bottom Indicator for Metatrader
Triple Top / Bottom Indicator for Metatrader
Triple Top / Bottom Indicator for Metatrader
Triple Top / Bottom Indicator for Metatrader