Winchester 10X1T Double Patterns Pro
Double Patterns Pro finds double tops and double bottoms and draws them right on the candles. In the Winchester 10X1T method this is Condition 3, the structure check: after the environment is clear, a double top or double bottom shows that a move has stalled at the same level twice.
How a pattern is found. A bar that prints the highest high (or the lowest low) of the last 10 bars is a swing candidate. The leg flips on the first candidate of the other side, and inside a leg only a more extreme candidate moves the swing. Every swing is ranked against the previous swing on the same side as HH, LH, HL or LL. A double top is a higher high, a pullback low, and then a lower high that stops close to the first top. Close means the risk share, the gap between the two tops divided by that gap plus the depth of the pullback, stays below the maximum (30 percent by default). A double bottom is the mirror image.
Confirmation and invalidation. A pattern is confirmed when price crosses the neckline, which is the pullback swing. It is invalidated when price crosses the first top or the first bottom. The panel counts patterns, confirmations and invalidations and shows the hit rate for tops and bottoms separately.
Drawing. An M through the three swing points marks a double top, a W marks a double bottom. The label sits on the second top or bottom and shows the risk per reward. The latest swings carry HH, LH, HL and LL. For the newest pattern the neckline and the first top are drawn as dashed measuring lines on the exact price, with the price on the scale. Confirmation and invalidation get their own dashed line on the bar where they happen. Every element can be switched off in the settings, and colours turn darker on a light chart.
Same entries as before. With the default settings (length 10, max risk per reward 30) this script finds exactly the same patterns, pivots, confirmations and invalidations, and fires its alerts on the same bars, as the Double Patterns study our students have used so far. We checked this side by side on TradingView over more than 150,000 bars on several symbols and timeframes. The data window keeps the same column names, so nothing changes for anyone who reads the values.
Alerts. Double Top, Double Bottom, and a confirmation and an invalidation alert for each.
How to use it. Read it after the environment and the momentum are clear. A pattern is structure, not a buy or sell signal on its own. In the 10X1T method the entry comes later, after the pressure phase and the cipher dot.
Credits. The double pattern rules follow the public open source double top and bottom work by Trendoscope. The code here is written from scratch, with its own swing slots instead of zigzag arrays, and the counting, the panel, the measuring lines and the drawing are our own work.
How a pattern is found. A bar that prints the highest high (or the lowest low) of the last 10 bars is a swing candidate. The leg flips on the first candidate of the other side, and inside a leg only a more extreme candidate moves the swing. Every swing is ranked against the previous swing on the same side as HH, LH, HL or LL. A double top is a higher high, a pullback low, and then a lower high that stops close to the first top. Close means the risk share, the gap between the two tops divided by that gap plus the depth of the pullback, stays below the maximum (30 percent by default). A double bottom is the mirror image.
Confirmation and invalidation. A pattern is confirmed when price crosses the neckline, which is the pullback swing. It is invalidated when price crosses the first top or the first bottom. The panel counts patterns, confirmations and invalidations and shows the hit rate for tops and bottoms separately.
Drawing. An M through the three swing points marks a double top, a W marks a double bottom. The label sits on the second top or bottom and shows the risk per reward. The latest swings carry HH, LH, HL and LL. For the newest pattern the neckline and the first top are drawn as dashed measuring lines on the exact price, with the price on the scale. Confirmation and invalidation get their own dashed line on the bar where they happen. Every element can be switched off in the settings, and colours turn darker on a light chart.
Same entries as before. With the default settings (length 10, max risk per reward 30) this script finds exactly the same patterns, pivots, confirmations and invalidations, and fires its alerts on the same bars, as the Double Patterns study our students have used so far. We checked this side by side on TradingView over more than 150,000 bars on several symbols and timeframes. The data window keeps the same column names, so nothing changes for anyone who reads the values.
Alerts. Double Top, Double Bottom, and a confirmation and an invalidation alert for each.
How to use it. Read it after the environment and the momentum are clear. A pattern is structure, not a buy or sell signal on its own. In the 10X1T method the entry comes later, after the pressure phase and the cipher dot.
Credits. The double pattern rules follow the public open source double top and bottom work by Trendoscope. The code here is written from scratch, with its own swing slots instead of zigzag arrays, and the counting, the panel, the measuring lines and the drawing are our own work.
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมใน ข้อกำหนดการใช้งาน