This is based on chart pattern and varified for more than 5 years backtested
Early Double Top & Bottoms This script will scan pivot highs/lows as well as the macro highs/lows to determine whether it thinks there could be a potential double top or double bottom. This does not mean there definitely will be but the indicator from this point will display the proposed pattern and set out a box where you could look for reversal signals. The...
We script this one for combining VWAP , EMA50 and EMA200. The tool is fantastic if traders know how VWAP , EMA work? Just adding this script in your favorite and work like charm: VWAP: How to trade with that - One of the simplest uses of the VWAP is gauging support and/or resistance. - A trader who is long a stock can use the VWAP as a target exit if its trading...
Double bottom is a very common chart pattern, as its name indicates, it consists of two bottoms, and these two bottoms need to be in a relative flat price level. One of the bottom can't be much higher or lower than the other. This indicator will detect and highlight double bottom pattern automatically on chart and alert you via SMS, email and sound. Features: ...