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Double Tops and Double Bottoms by Thomas Bulkowski
In the February 1998 issue of Technical Analysis of Stocks & Commodities magazine,
Thomas Bulkowski discusses the use of Double Bottoms as a means offinding profitable trades.

In MetaStock for Windows, you can find both Double Tops and Double Bottomswith these formulas. There is a caveat however. In the article, Mr. Bulkowski utilizesthe High-Low range in finding Double Bottoms. These formulas use only the close value, so a few of the lower pricedissues will not produce signals in MetaStock. Overall, however, these formulas produce most of the major signalshe discusses.


Double Tops

PK:=Zig(C,10,%)<Ref(Zig(C,10,%),-1) AND
Ref(Zig(C,10,%),-1)>Ref(Zig(C,10,%),-2);
TR:=Zig(C,10,%)>Ref(Zig(C,10,%),-1) AND
Ref(Zig(C,10,%),-1)<Ref(Zig(C,10,%),-2);
PK1:=PeakBars(1,C,10);
PK2:=PeakBars(2,C,10);
(ValueWhen(1,PK,Ref(C,-1)) / ValueWhen(2,PK,Ref(C,-1))>.96 AND ValueWhen(1,PK,Ref(C,-1)) / ValueWhen(2,PK,Ref(C,-1)) < 1.04) AND
PK2-PK1>=10 AND Cross(ValueWhen(1,TR,Ref(C,-1)),C)

 


Double Bottoms

PK:=Zig(C,10,%)<Ref(Zig(C,10,%),-1) AND
Ref(Zig(C,10,%),-1)>Ref(Zig(C,10,%),-2);
TR:=Zig(C,10,%)>Ref(Zig(C,10,%),-1) AND
Ref(Zig(C,10,%),-1)<Ref(Zig(C,10,%),-2);
TR1:=TroughBars(1,C,10);
TR2:=TroughBars(2,C,10);
(ValueWhen(1,TR,Ref(C,-1))/ ValueWhen(2,TR,Ref(C,-1))>.96 AND ValueWhen(1,TR,Ref(C,-1)) / ValueWhen(2,TR,Ref(C,-1)) < 1.04) AND
TR2-TR1>=10 AND Cross(C,ValueWhen(1,PK,Ref(C,-1)))

 

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Source / From: TOP
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