Double Top/Bottom Trend Reversal Strategy
ASX Stock Market Scan
Scan Parameters
Market: ASX
Tickers Scanned: 20
Signals Found: 0
Min Risk/Reward: 1.5
No signals found in the ASX market matching your criteria. Try adjusting the scan parameters or selecting a different market.
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Strategy Tips
Effectiveness by Market
Market | Effectiveness | Notes |
---|---|---|
US Stocks | High | Works well with clear support/resistance |
ASX Stocks | High | Best with high-volume, liquid securities |
Improving Accuracy
- Look for divergences in RSI and MACD
- Confirm with volume spikes on breakouts
- Trade on higher timeframes (daily, 4H)
- Best at key support/resistance levels
Best Volume Indicators
Adds volume on up days, subtracts on down days. Watch for:
- Bullish divergence + double bottom = strong long signal
- Bearish divergence + double top = early warning of reversal
Measures buying and selling pressure based on price and volume.
- CMF > 0 = accumulation (good for double bottom)
- CMF < 0 = distribution (good for double top)
Shows volume traded at each price level, not just over time.
- Helps identify strong support/resistance zones
- Confirms whether breakouts have conviction