The Binary Double Top-Bottom indicator version 2.0 is designed to search for such technical analysis patterns as “double top” and “double bottom” and makes it easier to find turning points on the chart. This indicator is suitable for both binary options and Forex trading. Using an arrow, the indicator shows the trader the location of the double top (double bottom) pattern. This technical indicator gives signals with good accuracy . The indicator is recommended for use during periods when there is high volatility in the market.
General characteristics
When working with this indicator, you should follow the following recommendations:
- Trading platform - MetaTrader4 .
- Basic assets - any pairs of currencies.
- Trading time is after the opening of the American and European sessions , but any interval is suitable.
- Timeframe - M1 or M5.
- Expiration period is 5 minutes (if M1 is selected) or 30 minutes (M5).
- The best Brokers are WordForex , Alpari , Quotex , PocketOption , Binarium .
The above recommendations are general and not mandatory. Provided that the specified requirements are met, the indicator almost always gives accurate signals.
Instructions for installing indicators in MetaTrader 4 :
Trading rules with the double top double bottom indicator
This indicator twice signals the formation of a double top (double bottom) on the chart. First, a red or blue triangle appears on the screen, and then an arrow, which indicates the direction of change in the current trend. As soon as these signals appear and a new candle begins to form, you need to open a deal by buying the corresponding binary option (Call or Put).
The signal to buy a Call option looks like this:
You need to buy a Put option if the following picture appears on the chart:
This indicator is not 100% accurate in terms of generating profitable signals, but it accurately identifies double top and double bottom patterns. Therefore, when working with it, it is recommended to use additional tools that will reduce the number of unprofitable signals.
Download the Binary Double Top-Bottom indicator
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See also:
Best Strategies for Binary Options
How to choose a binary options broker
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