The Double Top Indicator for MT5 is a technical tool designed to identify key market reversals. Using red and green circles, it highlights potential trend changes, making it easier for traders to spot bullish and bearish reversals.
During an uptrend, the indicator draws green circles above price bars, signaling higher highs and higher lows. In a downtrend, it draws red diamonds, indicating lower lows and lower highs.
The classic double top pattern occurs when the price reaches a resistance level, pulls back, and attempts a second break of the resistance but fails. This pattern is often interpreted as a bearish signal. Similarly, double bottoms are bullish reversals, although the indicator focuses on both reversal types.
The indicator does not provide explicit buy or sell signals. Instead, it visually marks potential reversal points, helping traders anticipate trend changes.
Green Diamond: Suggests a potential reversal from bearish to bullish.
Red Diamond: Suggests a potential reversal from bullish to bearish.
Confirmation: Combine the indicator with other technical tools such as RSI, trend lines, or support and resistance to generate actual buy or sell signals.
For optimal results, the indicator works best on longer timeframes, although it can be applied to any chart timeframe.
Highlights potential bullish and bearish reversals.
Visual, easy-to-read signals using red and green markers.
Applicable on any timeframe with better accuracy on longer timeframes.
Helps traders anticipate market turning points for better trade planning.
The Double Top Indicator for MT5 is an effective tool to identify potential market reversals. By marking red and green circles on your chart, it provides clear visual cues for bullish and bearish trend changes. Combine it with other technical analysis tools to enhance your trading strategy.
Published:
Nov 11, 2025 23:59 PM
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