Double Top Pattern IdentifierHello friends,
This script is a powerful, non-repainting detector for the classic Double Top pattern — one of the most widely recognized bearish reversal setups. The indicator automatically identifies and tracks developing 'M'-shaped formations in real-time, confirming valid entries once the neckline is broken and providing complete trade management features. No manual configuration for detection is needed — it works out of the box.
🛠 How It Works
It uses advanced techniques that involve pivot points analysis and do not rely on other indicators, ensuring robustness and adaptability across different market conditions. When a potential Double Top is detected, the indicator marks the pattern points, draws the neckline, and waits for confirmation.
Once confirmed, it generates a 'Short' signal with calculated Take Profit (TP) and Stop Loss (SL) levels.
The script includes a statistics table summarizing performance metrics — such as number of patterns, trade results, bar distances, and top differences — all dynamically updated on your chart.
🔥 Key Features
Pine Script V6 — optimized logic and performance
Works out of the box — no manual configuration required
Non-repainting detection
Fully visualized structure — points, neckline, TP, and SL plotted automatically
Multiple TP/SL modes: R/R ratio, ATR-based, percent, points, pips, ticks, or top-to-neckline distance
Trailing Stop Loss support
Interactive statistics table with pattern count, trade outcomes, profit ratio, and structural measurements
Smart alert system
Customizable alert messages with placeholders (price, ticker, timeframe, etc.)
Clean, updated UI with improved layout and organization
If you'd like access or have any questions, feel free to reach out to me directly via DM.
👋 Good luck and happy trading!
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