This is a free double top indicator with an alert that has many settings to customize your double top.
From Wikipedia "The double top is a frequent price formation at the end of a bull market. It appears as two consecutive peaks of approximately the same price on a price-versus-time chart of a market. The two peaks are separated by a minimum in price, a valley. The price level of this minimum is called the neck line of the formation. The formation is completed and confirmed when the price falls below the neck line, indicating that further price decline is imminent or highly likely."
The following can be customized:
The left and right bar strengths for both the Right Top (RT) and Left Top (LT). For an explanation on RT/LT bar strength see (pivothigh) tradingview pine script API notes.
The price variance in % between RT / LT
The minimum and maximum allowable separation between RT/LT
Ability to toggle visibility of prices
Best regards.
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Can now detect multiple tops! Choose to detect triple, quadruple or how ever many tops before getting an alert!
Fixes edge case bug which would miss a legitimate double top
Improves performance
Improves settings
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Due to popular demand I've added a premium feature to this free indicator - you can now get an alert before double top is confirmed. Just set the percentage from resistance you want alert.
breaking change: can no longer set RT right strength.
Added user guide (see linked images)
Added more tooltips to settings
fixed some bugs
Renamed script to simply 'Double Top Indicator'
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Bug fixes
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Bug fixes
Updated graphics
Removed multi-top detection. Will be releasing a free dedicated multi-top indicator instead