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A double bottom is common long-term technical analysis pattern. A double bottom is defined by at least two lows at approximately the same price level. Significant time and volume must to exist between the two lows, making them distinct.
This alert can also report triple bottoms, quadruple bottoms, etc. In these cases the alert description states the number of lows. We do not require as much time or volume between the individual lows in a triple or quadruple bottom as we do in a double bottom, as long as the first and last low are spread sufficiently far apart.
The analysis and reporting of double bottom patterns is very similar to the analysis and reporting of broadening patterns, described above.
Alert Info for Double Bottom [GDBOT]
- description = Double bottom
- direction = +
- keywords = Geometric Pattern Volume Confirmed
- flip_code = Double top [GDTOP]
- parent_code =