Double touch pattern

James.adejare · 2022-07-06T08:10:29+00:00

Can I get some help please regarding double touch patterns? I know there are posts on double top or bottoms but my request is slightly different. SCREENER criteria 1. price bouncing off the same area within 50 periods. 2. Short- bearish candle forming at area of previous and recent bearish candle (within 50 periods) 3 Long. Bullish candle forming at area of recent bullish candle, I’ll appreciate your help. KR

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07/06/2022 at 9:10 AM #196861 quote

James.adejare
Participant

New

Can I get some help please regarding double touch patterns? I know there are posts on double top or bottoms but my request is slightly different.

SCREENER criteria

1. price bouncing off the same area within 50 periods.

2. Short- bearish candle forming at area of previous and recent bearish candle (within 50 periods)

3 Long. Bullish candle forming at area of recent bullish candle,

I’ll appreciate your help.

KR

07/06/2022 at 10:23 AM #196872 quote

Nicolas
Keymaster

Legend

How do you fine the “same area” in terms of price? A range of points or percent of price?

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07/06/2022 at 5:39 PM #196905 quote

James.adejare
Participant

New

Hi again,

Struggling to come up with an answer to that but I know points will be hard and depend on the asset being traded. I have attached some pictures of what I’m looking for. Hope that helps

Screenshot-2022-07-06-at-17.38.06.png Screenshot-2022-07-06-at-17.38.13.png

07/07/2022 at 8:52 AM #196943 quote

Nicolas
Keymaster

Legend

Ok, so looking for support resistance areas as a cluster of tops and bottoms formed with .. fractals maybe?

These tops are aligned “visually”, but we have to code that, so that should be somehow calculated within a range of price.

Anyway, I think this Double top and bottom screener, should make it: https://www.prorealcode.com/prorealtime-market-screeners/double-top-double-bottom-screener/

Bunch of products about that patterns in the marketplace: https://market.prorealcode.com/?s=double+top&post_type=product

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07/07/2022 at 8:55 AM #196944 quote
robertogozzi
Moderator

Legend
I coded this one:
```
Periods = 50
HI      = highest[Periods](max(open,close))
LO      = lowest[Periods](min(open,close))
Bullish = close > open
Bearish = close < open
Scond   = Bullish[1] AND Bearish AND (max(high,high[1]) >= HI)
Lcond   = Bearish[1] AND Bullish AND (min(low,low[1])   <= LO)
Cond    = 0
IF Scond THEN
   Cond = 2
ELSIF Lcond THEN
   Cond = 1
ENDIF
SCREENER[Cond](Cond AS "1=↑,2=↓")
```
and this is the indicator:
```
DEFPARAM DrawOnLastBarOnly = true
Periods = 50
HI      = highest[Periods](max(open,close))
LO      = lowest[Periods](min(open,close))
DrawSegment(BarIndex[Periods - 1],HI,BarIndex + 1,HI) coloured(0,0,255,255)   //Blue
DrawSegment(BarIndex[Periods - 1],LO,BarIndex + 1,LO) coloured(255,0,0,255)   //Red
RETURN
```
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