The Double Tap, both bottom and top, indicates a price level that acts as a barrier to its movement : resistance in uptrend and support in downtrend.
When the price crosses this level, making a breakout, it means that the barrier has been broken and that a movement will potentially be launched. It is therefore interesting to identify these Double Taps to best anticipate the potential breakout trading.
The Double Tap pack includes :
The indicator allows you to view directly on the graph the Double Tap detected by the screener.
The screener scans the market for stocks showing a Double Support pattern within a set number of candles.
The results of the screener are soorted according to the position of the current stockprice in relation to the Double Tap :
A general filtering on the daily timeframe is done on the stock price, as well as the exchange's volume. This filtering guarantees the stocks appearing in results are in your liquidity criteria.
Many parameters are adjustable to allow you to search only for Double Top Supports that meet your criteria. All of these settings are made without modifying the code, in a very simple way in the "variables" menu of the screener, and in the configuration menu of the indicator.
Adjustable validation criteria :
General filter (screeners only) :
Details of available settings :
User Guide Indicator Indicator
Disclaimer
Our proposed tools (indicators and screeners) are not investment advices but tools allowing everyone to find specific graphic configurations.
Investing in the financial markets involves risks up to and including the total loss of capital.
The user of the proposed tools understands and accepts that the use of these tools is under his sole and entire responsibility. P2C Trading declines all responsibility in the use of the tools and the consequences that would result.
