Cup and Handle Indicator

This is a Cup and Handle Indicator. Features include:

• Can set alert at any point after handle starts rising before breakout
  
• Can detect multiple tops before confirming cup and handle pattern, not just double.
  
• Many settings to adjust to meet your exact requirements
  

The functionality of this indicator is very similar to my double top indicator, and inherits majority of the settings/inputs. Please try that indicator before using this one.

From Wikipedia: In the domain of technical analysis of market prices, a cup and handle or cup with handle formation is a chart pattern consisting of a drop in the price and a rise back up to the original value, followed first by a smaller drop and then a rise past the previous peak.[1] It is interpreted as an indication of bullish sentiment in the market and possible further price increases.[2]

The cup part of the pattern should be fairly shallow, with a rounded or flat "bottom" (not a V-shaped one), and ideally reach to the same price at the upper end of both sides. The drop of the handle part should retrace about 30% to 50% of the rise at the end of the cup. For stock prices, the pattern may span from a few weeks to a few years; but commonly the cup lasts from 1 to 6 months, while the handle should only last for 1 to 4 weeks.[3]

The "cup and handle" formation was defined by William O'Neil"[2][4]

Key settings to note compared to my double top indicator are highlighted in following image



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Best regards.