Ultimate Double Top Bottom Reversal Indicator can be found on the MQL5 marketplace and was created by FXsolutions, it was first uploaded on the 20th of November 2017 and has since been updated a few times, the most recent update was on the 24th of April 2018 and it is currently at version 1.6.
Created for the MetaTrader 4 trading platform, Ultimate Double Top Bottom Reversal Indicator is an indicator that was designed to look for doubly tops and double bottoms in the markets.
The indicator will draw the double tops and double bottoms onto the chart and will then send a notification when a high probability one is created.
Some tips from the creator:
-I use this indicator on M30 and higher. Then there is less noise in the price moves and I have usually more time to react on entry signals.
-When a signal occurs then ask yourself if there is enough room for a big subsequent move in direction of the trend (support/resistance far away?).
-In terms of parameters, there aren’t many, just options for alerts when there are long or short signals generated and whether the alerts should be within MT4 or via email.
The indicator can be purchased for $59, this is a one-off payment for a limitation free indicator. You can also rent it for a 1 year period for $49. There is a free demo version available, this will have some limitations added to it but they are not stated on the site, it may be worth downloading to see how the indicator works and to ensure that it is the right one for you before you make a purchase or rental.
The Ultimate Double Top Bottom Reversal Indicator currently has 11 reviews giving it an overall rating of 5 out of 5.
“This is a brilliant indicator. Not only can you see it on your MT4 charts, but you also get notifications of each signal in a free Telegram Channel. Well done Mike. Can’t wait to try some of your other indicators.” – A 5-star review.
“This nifty indicator catches the Double Top & Double Bottom well! Should have just bought instead of renting it! Worth every penny, saving time and efforts looking for such setups. If traded with proper money management, you’d get every penny back and more, not something I can say of the many indicators out there. Highly recommended. Good job & thumbs up!” – A 5-star review.
Lots of positive reviews and even more comments within the comment section, the developer Mike has been replying to each and every comment which shows a lot of dedication to supporting the product and that is a very good sign. So the indicator works well and the developer is there to support the userbase.
This Forex service is currently available in the MQL5 marketplace: https://www.mql5.com/en/market/product/26371