Metastock Formula : Double Tops & Bottoms

Double Tops and Double Bottoms
In the February 1998 issue of Technical Analysis of Stocks & Commodities magazine, Thomas Bulkowski discusses the use of Double Bottoms as a means of finding profitable trades.
In MetaStock for Windows, you can find both Double Tops and Double Bottoms with these formulas. There is a caveat however. In the article, Mr. Bulkowski utilizes the High-Low range in finding Double Bottoms. These formulas use only the close value, so a few of the lower priced issues will not produce signals in MetaStock. Overall, however, these formulas produce most of the major signals he discusses.

Double Tops

PK:=Zig(C,10,%)Ref(Zig(C,10,%),-2);
TR:=Zig(C,10,%)>Ref(Zig(C,10,%),-1) AND Ref(Zig(C,10,%),-1)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)>=10 AND Cross(ValueWhen(1,TR,Ref(C,-1)),C)

Double Bottoms

PK:=Zig(C,10,%)Ref(Zig(C,10,%),-2);
TR:=Zig(C,10,%)>Ref(Zig(C,10,%),-1) AND Ref(Zig(C,10,%),-1)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)>=10 AND Cross(C,ValueWhen(1,PK,Ref(C,-1)))