About the Double Top and Bottom Pattern Indicator
The Double Top and Bottom Pattern indicator for MT4 scans the chart for classic double top and double bottom reversal patterns in real time.
It automatically detects completed formations and plots them directly on the trading chart.
When a valid setup appears, the indicator draws the pattern and adds a directional arrow.
A blue arrow signals a completed double bottom and a potential bullish reversal. A red arrow signals a completed double top and a potential bearish reversal.
This indicator allows traders to focus on execution instead of manual pattern drawing.
It works on all currency pairs and timeframes, making it useful for both intraday and swing traders.
Waiting for full pattern completion helps reduce early or low-quality entries.
Free Download
Download the “double-top-bottom-patterns.ex4” MT4 indicator
Key Features
- Automatically detects double top and double bottom patterns.
- Plots reversal patterns directly on the chart.
- Displays blue buy arrows and red sell arrows.
- Works on all timeframes and trading instruments.
- Reduces manual chart analysis.
Indicator Chart
The Double Top and Bottom Pattern indicator chart displays marked reversal patterns with directional arrows.
The chart shows completed double tops and double bottoms, highlighting potential buy and sell opportunities as they form.
Guide to Trade with the Double Top and Bottom Pattern Indicator
Buy Rules
- Wait for a completed double bottom pattern to form.
- Confirm that a blue buy arrow appears on the chart.
- Enter a buy trade at the close of the signal candle.
- Prefer setups near established support levels.
Sell Rules
- Wait for a completed double top pattern to form.
- Confirm that a red sell arrow appears on the chart.
- Enter a sell trade at the close of the signal candle.
- Prefer setups near established resistance levels.
Stop Loss
- Place the stop loss a few pips below the double bottom low for buy trades.
- Place the stop loss a few pips above the double top high for sell trades.
Take Profit
- Close buy trades when an opposite sell arrow appears.
- Close sell trades when an opposite buy arrow appears.
- Alternatively, target nearby support or resistance levels.
- Secure partial profits if momentum slows.
Double Top and Bottom + Super Alligator Signal MT4 Forex Strategy
This MT4 strategy is designed to capture intraday reversals and trend continuation moves using pattern recognition and trend confirmation.
The Double Top and Bottom Pattern Indicator signals potential reversals with blue arrows for bottoms, indicating buy opportunities, and red arrows for tops, indicating sell opportunities.
The Super Alligator Signal Indicator confirms trend direction with red arrows showing a buy trend and blue arrows showing a sell trend.
This strategy works well on M5, M15, and M30 time frames.
It is ideal for day traders who want structured entries based on clear reversal signals that align with the overall trend.
Combining pattern signals with trend confirmation increases the accuracy of intraday trades and reduces the risk of false entries.
Buy Entry Rules
- Super Alligator Signal shows a red arrow indicating a buy trend
- The Double Top and Bottom Indicator shows a blue arrow signaling a bottom
- Enter a buy trade at the open of the next candle after both conditions appear
- Place a stop loss below the recent swing low or pattern low
- Close the trade when a blue arrow from the Super Alligator turns to blue or a red arrow appears from the pattern indicator
Sell Entry Rules
- Super Alligator Signal shows a blue arrow indicating a sell trend
- The Double Top and Bottom Indicator shows a red arrow signaling a top
- Enter a sell trade at the open of the next candle after both conditions appear
- Place a stop loss above the recent swing high or pattern high
- Close the trade when a blue arrow from the Super Alligator turns red or a blue arrow appears from the pattern indicator
Advantages
- Combines pattern recognition with trend confirmation for reliable entries
- Buy/sell arrows make it easy to spot trade signals quickly
- Works well across multiple intraday time frames
- Helps capture both reversals and trend-following moves
- Trend confirmation helps avoid counter-trend trades
Drawbacks
- Pattern signals can be less accurate during sideways or low volatility markets
- Trend arrows may lag slightly in fast-moving markets
- Requires attention on intraday time frames for accurate entries
Case Study 1
On EURUSD M15, the Super Alligator Signal showed a red arrow indicating a buy trend.
The Double Top and Bottom Indicator generated a blue arrow signaling a bottom at 1.1020.
A buy trade was entered at 1.1022 with a stop loss at 1.1008 below the recent swing low.
Price moved up to 1.1055, hitting resistance and closing the trade for 33 pips.
The alignment of trend and reversal signal resulted in a precise and profitable trade.
Case Study 2
On GBPJPY M5, the Super Alligator Signal turned blue, indicating a sell trend.
The Double Top and Bottom Indicator showed a red arrow at 162.80 signaling a top.
A sell trade was executed at 162.77 with a stop loss at 163.00 above the recent swing high.
Price dropped to 162.40, reaching support and closing the trade for 37 pips.
Using pattern and trend together allowed for an accurate intraday scalp.
Strategy Tips
- Focus on trades where the pattern signal aligns clearly with the trend for higher accuracy
- Combine with support and resistance levels to improve entry and exit points
- Look for confluence with candlestick patterns to increase confidence in the trade
- Consider trading only during high-volume sessions for stronger price moves
- Monitor multiple time frames to ensure the trend on higher time frames matches the intraday setup
- Adjust your trade size based on volatility to protect your capital
- Use partial exits if the trend continues strongly beyond the first target
Download Now
Download the “double-top-bottom-patterns.ex4” Metatrader 4 indicator
FAQ
Does the Double Top and Bottom Pattern indicator repaint?
The indicator confirms the pattern before plotting signals. Once an arrow appears, it remains fixed on the chart.
Can this indicator be combined with other tools?
Yes. It works well alongside trend filters, support and resistance analysis, or momentum indicators.
Is this indicator suitable for fast trading styles?
It can be used on lower timeframes, but signal quality improves when applied to higher timeframe setups.
Summary
The Double Top and Bottom Pattern indicator helps traders spot exhaustion points where price is likely to reverse.
By automatically identifying completed patterns and signaling entries, it removes much of the guesswork from reversal trading.
The indicator works smoothly across different markets and timeframes, making it easy to integrate into existing strategies.
It allows traders to stay focused on strong reversal opportunities and avoid unnecessary chart noise.
