Double Top Pattern Identifier

2019년 3월 5일

Hello friends,

This script is a powerful, non-repainting detector for the classic Double Top pattern — one of the most widely recognized bearish reversal setups. The indicator automatically identifies and tracks developing 'M'-shaped formations in real-time, confirming valid entries once the neckline is broken and providing complete trade management features. No manual configuration for detection is needed — it works out of the box.

🛠 How It Works

It uses advanced techniques that involve pivot points analysis and do not rely on other indicators, ensuring robustness and adaptability across different market conditions. When a potential Double Top is detected, the indicator marks the pattern points, draws the neckline, and waits for confirmation.

Once confirmed, it generates a 'Short' signal with calculated Take Profit (TP) and Stop Loss (SL) levels.

The script includes a statistics table summarizing performance metrics — such as number of patterns, trade results, bar distances, and top differences — all dynamically updated on your chart.

🔥 Key Features

• Pine Script V6 — optimized logic and performance
  
• Works out of the box — no manual configuration required
  
• Non-repainting detection
  
• Fully visualized structure — points, neckline, TP, and SL plotted automatically
  
• Multiple TP/SL modes: R/R ratio, ATR-based, percent, points, pips, ticks, or top-to-neckline distance
  
• Trailing Stop Loss support
  
• Interactive statistics table with pattern count, trade outcomes, profit ratio, and structural measurements
  
• Smart alert system
  
• Customizable alert messages with placeholders (price, ticker, timeframe, etc.)
  
• Clean, updated UI with improved layout and organization
  

If you'd like access or have any questions, feel free to reach out to me directly via DM.

👋 Good luck and happy trading!

6일 전

릴리즈 노트

• Added option to include Top prices in alerts
  
• Added automatic table color adjustment based on chart theme
  
• Made minor UI improvements in Settings
  
• Made minor internal fixes and code refactoring