October 26, 2020

Forex Double Top And Bottom Indicator Mt4 Free Download

FOREX DOUBLE TOP AND BOTTOM INDICATOR MT4:-

 

The forex double top to the bottom indicator is an indicator used to detect the chart patterns and trend reversals. It also detects fake breakouts in the market trend. Fake breakout or the false breakouts are the terms in the forex trading that detracts the traders by showing small changes in the price action.

The price changes temporarily and reverts backs to the level where it is before. With the help of top and bottom indicators, traders can identify that whether they are false breakouts or the real one and these breakouts did not affect the trade.

Forex double top and bottom indicator

The Forex double top and bottom indicator are developed by FX solutions. It is the most recent and unique indicator used to detect the reversals. It gives more effective reversals because it has advanced parameters that help the traders in easy use and precise results. It is also used to remove the noise from the market trends.

It is a double top and bottom indicator, it means that this indicator has two tops and two bottoms at the same price levels labeled as top 1, top 2, bottom 1, and bottom 2. It is very easy to understand this indicator. This indicator is very helpful in daily trade. It compares the daily prices with other day’s and timeframe’s prices because it detects different trends at different time durations.

 

Characteristics Forex double top and bottom indicator:-

 

The forex double top and the bottom indicator has the following characteristics. This indicator is applicable for both short term traders and long term traders. It uses different and approximately all the timeframes that help the traders in comparison to the price actions. All traders can use this indicator.

Forex double top and bottom indicator can also trade with all the currency pairs. It can be utilized in all the forex brokers but the best broker for this indicator is mt4 broker. It has a specific pip that identifies the top and bottom levels in the market trend.

 

PARAMETERS: –

 

Forex double top and bottom indicator has different and unique parameters that are given below: –

 

  1. Mode drawing
  2. VLINE  
  3. AREA  
  4. NONE  
  5. Line width 
  6. Line style 
  7. Line color 
  8. The phase of the Moon  
  9. FULL_MOON 
  10. NEW_MOON 
  11. Flag drawing Bar Timer  
  12. PER_BAR 
  13. PER_NULL 
  14. NULL_BAR 
  15. NULL_NULL 
  16. Font color 
  17. Font name 
  18. Font size  
  19. Angle of anchor 
  20. Colors 
  21. Line style
  22. Line width
  23. Where to place texts
  24. Font
  25. Background 
  26. Foreground
  27. Grid 
  28. Bar Up 
  29. Bar Down 
  30. Bull candle 
  31. Bear candle 
  32. Line graph  
  33. Volumes  
  34. Ask line  
  35. Stop levels  

 

USES OF DOUBLE TOP AND BOTTOM INDICATOR:-

 

There are different and helpful uses of this indicator. Forex double top and bottom indicator is very helpful in daily trade. It is used to detect the reversals in the market trend. This indicator is used to identify the breakout in the trends.

It is also used to detect the top and bottom levels with the help of pip. It also detects the price action and reversal in the market trend. It is one of the best indicators.