Triple Bottom and Triple Top: Master Trend Shifts with MT4 - Free

The Triple Bottom and Triple Top Indicator is a advanced pattern recognition tool for MetaTrader 4 that automatically identifies key market reversal formations. By detecting Triple Top (bearish reversal) and Triple Bottom (bullish reversal) patterns, this indicator empowers traders to anticipate trend changes with precision and confidence, eliminating manual pattern analysis.

You can download it from this link:
https://tradingfinder.com/products/i...free-download/

For instructions on how to install:
https://www.forexfactory.com/thread/...-in-metatrader


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Key Features

1. Automated Pattern Recognition: Instantly identifies Triple Top and Triple Bottom formations.
2. Real-Time Alerts: Marks confirmed patterns directly on charts with clear labels.
3. Multi-Timeframe Support: Effective across M5 to W1 timeframes.
4. Multi-Asset Compatibility: Works seamlessly with Forex, stocks, commodities, and indices.
5. Visual Guidance: Highlights patterns with intuitive graphics for easy interpretation.

How It Works
The indicator scans price action in real-time to detect three critical peaks (Triple Top) or troughs (Triple Bottom) at similar levels. Key functionalities include:

1. Triple Top Detection: Identifies three consecutive peaks after an uptrend, signaling potential bearish reversal.
2. Triple Bottom Detection: Spots three consecutive troughs after a downtrend, indicating potential bullish reversal.
3. Confirmation Logic: Requires patterns to meet strict price and symmetry criteria before signaling.

Trading Strategies

Triple Top (Bearish Reversal)

1. Wait for the third peak to reject at resistance.
2. Enter short on a bearish confirmation candle closing below the support neckline.
3. Place stop-loss above the highest peak.
4. Set profit target based on the pattern’s height projected downward.

Triple Bottom (Bullish Reversal)

1. Confirm the third trough holds above support.
2. Enter long on a bullish candle closing above the resistance neckline.
3. Place stop-loss below the lowest trough.
4. Set profit target using the pattern’s height projected upward.

Why Traders Use This Indicator

1. Efficiency: Automates pattern detection, saving time and reducing human error.
2. Accuracy: Filters false signals with strict pattern criteria.
3. Versatility: Applicable to scalping, day trading, and swing trading.
4. Risk Management: Provides clear stop-loss and take-profit levels.

Installation Guide

1. Download the *.ex4 or *.mq4 file.
2. Open MT4 → File → Open Data Folder.
3. Navigate to MQL4 → Indicators and paste the file.
4. Restart MT4 and drag the indicator from the Navigator panel onto your chart.
5. Adjust settings (e.g., pattern sensitivity, alerts) as needed.

Conclusion
The Triple Bottom and Triple Top Indicator is an indispensable tool for traders seeking to capitalize on market reversals. By automating pattern detection, it enhances analytical accuracy and supports disciplined trading decisions across all timeframes and assets. Integrate this indicator with other technical tools (e.g., RSI, volume analysis) for optimal results.