1. When the signal appears, this is when a formation is present and the price is likely to go down!
We coded this indicator to be able to spot every possible by giving you the ability to adjust the strength of the indicator. Simply lower the strength of the indicator to find the smaller Double Tops and raise the strength to find the larger Double Tops.
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I took on the liberty to code the indicator to allow for a little variation outside of the hard fast "rules" of a double top to allow for more signals which in the end I believe will only help people predict price moves down. With that said, with a normal double top the price usually falls below the support level before the alert or "signal" goes off but from what I have found, you miss out on a lot of profits by not catching the double top at the very top vs. waiting for the support to be hit. I know this might be outside of the rules a little but all in all the best way to present this indicator is as a double top.
I really hope this helps, have an amazing day!
"The best way to present this indicator is as a double top" - this is the best way to earn easy dirty money naming the absolutely wrong stuff a well-known term.
Martin/Travis/Dudley/choose the correct one/, I am and a lot of other guys waiting for the truth about your Auto Trend Lines, the indicator which was copypasted from Joris Duyck to sell it. I guess a half of TradingView community know what you did and how you did.
Tell us the truth, Martin/Travis/Dudley/choose the correct one/. If you think your conscience is clear, if you are a respectable citizen of the US and a gentleman of course, you will do it. This is the only way for you to restore your reputation.
We've heard everything you've said, and we appreciate your thoughts. Here's the bottom line for us;
- All of our indicators have been written in-house.
- We have not used any Open Source Codes.
- We proudly stand behind all of our products, including the Martin Double Top and the Martin Double Bottom.
We wish you the very best and may you be successful in all of your endeavors.
The Trade Indicators Team.