Cyatophilum Double Top & Bottom [ALERTSETUP]

Private Indicator

Version Alpha
The indicator is subject to changes.

This indicator's goal is to help automatically find double top and double bottom patterns.
Its core algorithm uses purely price action and does not use any kind of overbought/oversold oscilator.



To be validated, a double top/bottom must be preceded by a simple top/bottom.

Parallel Channels

To be validated, a double top/bottom must be inside the top/bottom parallel channel. Channels will expire after some time. A channel's range is automatically calculated when changing timeframe or symbol. Channels can be used to trade breakouts after a double top/bottom happened.

Alerts
This indicator allows to create automated alerts in order to receive signals for an event. The available alerts are:

• Double Bottom
  
• Double Top
  
• Simple Bottom
  
• Simple Top
  

Send me a message if you would like to help me test the indicator.

Versionsinformation:

Added an option to ignore the x first tops or bottoms found.