Double Top (RTX)

The Double Top RTX extension identifies double tops and bottoms and extends the lines until they are taken out by a future bar. User parameters control the look back period (in bars) and the minimum pullback (in ticks) and the minimum spread (in bars) necessary to detect adjacent tops (and bottoms).

Presentation

DoubleTop Preferences

  • Lookback Bars - Number of Bars the double top must span in order to test true.
  • Min Pullback (Ticks) - The minimum pullback, in tick increments, that must occur between double tops or double bottoms.
  • Min Spread (Bars) - The mimium distance between bars that must occur between double tops or double bottoms.
  • Price Wiggle (Ticks) - The allowable difference in price between tops or bottoms. If the tops/bottoms must have matching prices, specify a wiggle of 0. If the tops can top out within 1 tick increment of each other, specicify a value of 1.
  • Barrier (Bars) - The barrier settings is similar to a fractal period. It requires the endpoints of a double top to have a price equal to or greater than the bars before it and after it, with the number of bars being specified by the user. For example, if a user choosing a Barrier period of 3 bars, each endpoint of the double top must have prices at or greater than 3 bars before it and after it. This forces each endpoint to be a relative high (double tops) or low (double bottoms).
  • Tops - Color and Style control for the Double Tops.
  • Bottoms - Color and Style control for the Double Bottoms.
  • Naked - Color and Style control for the Naked Double Tops or Bottoms .
Double Top Chart (RTX)
Identifies Double Tops and Double Bottoms based on a user specified period.

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