The Double Tops and Bottoms Forex indicator for Metatrader 5 identifies two powerful trend reversal trading patterns, better known as tops and bottoms.
Buying and selling Forex with this technical indicator:
- A bullish trend reversal pattern (bottom) occurs when the green trading pattern appears on the chart, this creates a buying opportunity.
- A bearish trend reversal pattern (top) occurs when the blue trading pattern appears on the chart, this creates a selling opportunity.
The following indicator inputs and parameters can be adjusted: history, count bars, colors, and more.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and trading instruments offered by your MT5 broker.
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Double Tops And Bottoms MT5.mq5 Indicator (MT5)
Trading Chart
The following chart shows what the Double Tops and Bottoms indicator looks like when applied to the MT5 chart.
How To Buy And Sell With The Double Tops and Bottoms Indicator?
Find a simple trading example below:
Buy Signal
- A clear buy signal is given when the bottom trading pattern is displayed on the price chart.
- Open a long transaction and set your stop loss below the previous swing low price.
- Close the buy trade at prior resistance levels or await a top trading pattern.
Sell Signal
- A clear sell signal is given when the top trading pattern is displayed on the price chart.
- Open a short transaction and set your stop loss above the previous swing high price.
- Close the sell trade at prior resistance levels or await a bottom trading pattern.
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Double Tops And Bottoms MT5.mq5 Indicator (MT5)
MT5 Reversal Confirmation Strategy Using Double Tops/Bottoms and Strong Buy/Sell Signals
The Double Tops and Bottoms Indicator for MT5 is designed to catch early market reversals based on powerful chart patterns.
When paired with the Strong Buy and Strong Sell Forex Indicator, you get an excellent confirmation tool that filters out weak signals and boosts confidence in your trade setups.
Best Timeframes
This strategy works well on M15, M30, and H1 charts, offering both intraday and short swing trade opportunities.
Strategy Tools
- Double Tops and Bottoms Indicator: Automatically detects high-probability reversal patterns at key price levels.
- Strong Buy and Strong Sell Indicator: Confirms institutional-level interest with bold visual signals based on momentum and order flow.
Buy Trade Conditions
- Wait for the Double Bottom pattern to appear on your chart.
- Confirm that a “Strong Buy” signal from the Strong Buy/Sell Indicator occurs either at or shortly after the pattern appears.
- Enter a buy trade after the candle closes with the Strong Buy confirmation.
- Place your stop-loss just below the lowest point of the double bottom pattern.
- Set your take profit at the next resistance level or target a 1:2 to 1:3 risk-reward ratio.
Sell Trade Conditions
- Wait for the Double Top pattern to appear on the chart.
- Look for a “Strong Sell” signal from the Strong Buy/Sell Indicator near the top formation.
- Enter a sell trade once the confirmation signal appears and the pattern is valid.
- Set your stop-loss just above the highest high of the double top.
- Take profit at the next support zone or aim for a minimum of 1:2 risk-to-reward.
Why This Strategy Is Effective
The Strong Buy and Strong Sell Indicator validates the reversal patterns detected by the Double Tops and Bottoms tool.
This dual confirmation minimizes false signals and gives you clear entries supported by pattern structure and smart money interest.
Trading Tip
Use this strategy near major support and resistance zones for optimal results. Always wait for confirmation to avoid entering too early during volatile market phases.
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Double Tops And Bottoms MT5.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
