This script is designed to automatically detect double top and double bottom chart patterns on TradingView chart, making it easier for traders to identify potential reversal zones and enhance their technical analysis.
It offers a wide range of flexible and customizable settings. For instance, you can choose which extremums the script should use to detect patterns — either the edges of candle wicks (tails or shadows) or the edges of the candle bodies. This allows you to fine-tune the script based on your trading style and preferred level of precision.
The Sensitivity parameter provides additional control over how frequently patterns are detected. You can adjust it so that patterns appear more often, capturing smaller movements, or less frequently, focusing only on larger, more reliable formations that span multiple candles. This makes the script suitable for both short-term and long-term trading strategies.
There are also several advanced settings to customize the parameters of each pattern, including the length, proportions, and relative positioning of the lines that make up the pattern. This ensures that the script can be adapted to different markets, timeframes, and trading approaches.
Additionally, you can fully customize the visual styles of the patterns, allowing you to match them with your chart’s color scheme and personal preferences. All major settings come with tooltips, making it easy for traders of all experience levels to understand and use the script effectively.
Overall, this double top and double bottom indicator is a powerful tool for technical analysis, helping traders quickly identify key reversal patterns while maintaining full control over accuracy, frequency, and visual presentation.
