FREE Double Top/Bottom Indicator - Very Good Edge

Usually we are not late to the party. From the screenshot of my live call above you can see that i was able to enter at exact price level of the neckline.

I was able to do this because the signal comes in the moment when the neckline is touched. Most of the time the move does not go directly through the neckline without retracing. So sometimes you can even enter at a better price e.g. 1 minute after the signal.

But if the price already moved beyond the neckline before you can check the chart then you can still wait for a pullback to enter. Pullbacks occur often. Therefore i usually enter a second time at a better price (screenshot above -> my limit order above the neckline)

You say that is free indicator, And indicator on your page cost 49€

"
The Double Top/Bottom Alerter can be purchased with a very low one-time-fee:

Double Top / Bottom Alerter
49€
One-Time-Fee

1. 2 Indicators for Metatrader 4
2. Indicator: PTS_Alerter_DoubleTopBottom
3. - Scans up to 30 trading instruments and
4. - Scans up to 8 timeframes
5. - Sends Alerts via MT4 and E-Mail
6. Indicator: PTS_DoubleTopBottom
7. - Draws Double Top/Bottom Setups on the chart"

Hi Patttern,

the text which you copied/pasted was from the Alerter-Tool. The Alerter-Tool costs the small fee, but the Double Top/Bottom Indicator is free.

Here the links for the two different tools again, to avoid confusion:

Double Top/Bottom Indicator (FREE)

Double Top/Bottom Alerter

Here is an example of a very nice Trend-Continuation Double Top trade. With a little bit of visual judgement/analysis you would have known that this trade can get a big winner.

The smart money took out a recent high to fill (add to) its short position. The fast rejection to the downside was detected by the FREE Double Top/Bottom Indicator.



The extend pullback within the downward trend produced enough space to the lower edge of the channel for a big downward move. If you took the trade you could have made a 4R winner:

The same patterns occur on any liquid trading instrument. Here on DAX:

Here the latest Double Bottom/Top on the Dow Jones on M30:

The FREE Double Top/Bottom Indicator also works on commodities.

Silver:


Gold:


And it works on stocks too

Great Trend-Continuation Double Bottom on GBPUSD on M15 this morning:



The game of the Smart Money this morning:



The signal was alerted in real-time with the alerter-tool:

Nice Double Top on EURUSD on H1 today detected with the FREE indicator:



Alerted in real-time with the alerter-tool:

Where do you set SL and TP for this signal?

Thank you

Hi VD Trader,

I was not at my computer when the double top signal was created so I didn't enter. But if I would have entered then the Stop would have been at the top of the double top.

But: Before I enter a Double Top against an upward trend I check the momentum of the upward trend. If the momentum is strong then I usually don't enter against the trend because the trend will resume with high probability. I have a Trend-Indicator which shows the momentum of a trend. I only enter against a trend with a strong momentum if I saw a climactic price move directly before the Double Top/Bottom.



I expect that the price will fill the gap between the blue line during the next day(s). So I wouldn't expect that this double top produces a big winner. I would be happy with the 1R winner that this double top produced.

The Trend-Indicator is available as a "FREE-For-Some"-Version. The "FREE-For-Some"-Version works full on EURCAD and AUDJPY and it works in the strategy tester of MT4 for all trading instruments. I also have a FREE Training-Tool with more than 100 years of candle data for the timeframe M1-H4 with which you can train to spot "Perfect Momentum Setups".

The following sketch shows a climactic price action in an uptrend followed by a double top. Such double tops I would trade independent of the momentum of the trend because the climactic price action is a known pattern from the smart money to mislead as much people as possible into the uptrend and because then there is a lot of room to the trend line of the upward to trend (which acts as support):



Double Tops/Bottoms can be traded with different stop/target settings. Nothing is written into stone in trading. It's all a game of probabilities which plays out over a big series of trades. A tight stop would produce more losing trades but maybe more profit in the long run. The same is true for a farther target.

Great results of your trades in your trade explorer BTW

Hi FX-Mike,

It's good trade but you seem not confident with your system

Thank you for your kind words of my trade explorer.
BTW, where is your trade explorer?

Hi VD Trader,

Yes, this double top signal created a big winning trade.

But in my opinion a good trade is a trade which I entered while following my rules. Independent of the result of the trade

I mentioned several times that I want to get a higher winning percentage in the long run with visual filtering/judgement. I don't use these signals completely mechanical. So I wouldn't go so far to say that I'm not confident in this system.

I think my confidence in the system is shown because I present it in the world's biggest trading forum and everyone can use it for free and make his own judgement. Every feedback I get is outstanding good. I didn't get one single complaint. This indicator even lead to a cooperation with a big trading company with more than 10K clients.


I'm not in the money management business. So my results have nothing to do with other peoples results who are using my tools. No one who uses my system can replicate exactly my results and no one who uses your system can replicate your results. And in addition I trade several systems.

It really makes no sense. But if you want to compare useless numbers then have a look at this:

Great trade for those who took the Double Top on EURGBP on H1 yesterday indicated by the FREE Indicator:

GBPJPY is skyrocketing. 200 pips since yesterday's signal on H4:

The last two signals on GBPJPY on H4 had a potential of 1,350 Pips!

The left signal is a trend continuation signal. The right signal was in a ranging market at a support zone:



Here you can download the FREE Indicator.

It looks good image.

I don't want to compare. Just want to know how is your live trade performance.

Btw, can you post some live signals here?

Hi VD Trader,

I'm preparing a FREE service and I would be happy if you would join. The FREE service will give you live double top/bottom signals. But that's not all!

Here is what i'm planning to do (and what i have already partially running and testing):

1. Double Top/Bottom Signals will be automatically posted to a telegram (telegram.org) channel in real-time
2. There will be a corresponding telegram group in which you can discuss the quality of each signal with fellow traders
3. There will be a voting/polling functionality (signal good? yes/no) for each signal

I think this FREE service can produce outstanding good results for everyone who participates. Even traders with less experience will benefit from the discussions of experienced traders and from the swarm intelligence (results of voting).

Give me a week or two, then we can start

Cheers

Today's double top on EURUSD M30 delivered some pips until now:

Already testing the FREE signal service on Telegram. The EURUSD M30 double top signal was posted in real-time to the group:



I will provide free access to this service soon!

Get the FREE Double Top/Bottom Indicator