Double&Triple Pattern[TS_Indie]📌 Description – Double & Triple Pattern Indicator
The Double & Triple Pattern Indicator is developed to help traders systematically and clearly identify Double Top, Double Bottom, Triple Top, and Triple Bottom chart patterns.
⚙️ Core Logic & Working Mechanism
The Double & Triple Pattern Indicator is built on the concept of price swing formation, based on the logic of Trend Entry_0 , which focuses on structured market analysis and price action behavior.
The indicator detects three main swing points (Swing 1, Swing 2, and Swing 3). A Fibonacci Box is then created using Swing A and Swing B as reference points to define the swing detection zone.
When all three swings remain inside the defined Fibonacci Box, the structure is considered a valid Price Action setup.
The indicator then plots key lines on the chart:
➩ Break Line – used to confirm the signal (confirmation)
➩ Cancel Line – used to invalidate the price action if price moves against the conditions
➛ When price breaks the Break Line , the structure is confirmed and a Pending Order is placed at Swing B , with the Stop Loss set at Swing 1.
➛ If price breaks the Cancel Line first, the price action structure is immediately invalidated.
⚙️ Fibonacci Entry Zone & Change SL Settings
➩ When Fibo Entry Zone is set to 0, the Pending Order is placed directly at Swing B.
➩ When the value is greater than 0, the Pending Order is calculated using Fibonacci levels drawn from Swing B to the Stop Loss level.
➩ Change SL allows switching the Stop Loss reference between Swing 1 and Swing A.
⚙️ Min & Max Control for Swing Size : xATR
When enabling Control Size Swing : xATR , the indicator filters Swing B based on the defined Min and Max range.
This allows traders to selectively test larger or smaller swing-based price actions , depending on their trading strategy.
⭐ Pending Order Cancellation Conditions
A Pending Order will be canceled under the following conditions:
1.A new Price Action signal appears on either the Buy or Sell side.
2.When Time Session is enabled, the Pending Order is canceled once price exits the selected session.
🕹 Order Management Rule
When there is an active open position, the indicator restricts the creation of new Pending Orders to prevent overlapping positions.
💡 Double Pattern Example
💡 Triple Pattern Example
⚠️ Disclaimer
This indicator is designed for technical analysis purposes only and does not constitute investment advice.
Users should apply proper risk management and make decisions at their own discretion.
🥂 Community Sharing
If you find parameter settings that work well or produce strong statistical results, feel free to share them with the community so we can improve and develop this indicator together.
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/// Quick Explained ALMA ///
//Window size: The window size is the look-back period and it is a basic setting of ALMA.
//Experienced traders can change this setting according to their preference.
//But if you are using this indicator for the first time, it is recommended to go with the default setting.
//Offset: The offset value is used to tweak the ALMA so that it will be more inclined
//towards responsiveness or smoothness. You can set the offset in decimals between the 0 to1.
//The value of 0.01 makes it smoother, while a setting of 0.99 makes the indicator more responsive.
//Sigma: The sigma is used for the filter. Any value less than 6 makes the indicator
//more focused, whereas the setting of 6 makes the filter large. According to Mr Arnaud,
//a sigma value of 6 is offer good performance.
