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AlchemyDoubleHighBar (Function)

AlchemyDoubleHighBar identifies a double top bar.  If the criteria of a double top bar is met, the AlchemyDoubleHighBar function returns 1, otherwise a -1 will be returned.

AlchemyDoubleHighBar (ClRange)

Parameters

ClRange

Specifies the current bar's range percentage below which the current bar needs to closer under.

Returns

AlchemyDoubleHighBar identifies a double top bar.  If the criteria of a double top bar is met, the AlchemyDoubleHighBar function returns 1, otherwise a -1 will be returned.

Usage

Double Tops: In an uptrend, a double top is a price chart with two prominent peaks at around the same high, meaning that the sideways movement continued longer. If the price closes higher than the prior peaks, the uptrend will probably be resumed. However, if the price declines below its prior peak and begins to weaken, a trend reversal may be beginning. 

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