Price action: Double top/bottom Strategy

Script from: TradingViewIntradayPrice actionPatternReversal

Double Top/Bottom strategy employs Pivot High/Low to spot 'M'-shaped double tops for shorts and 'W'-shaped double bottoms for long positions. Entries are made post-confirmation of the patterns. Modify stop loss and profit target percentages to manage risk-reward.

Audit verdict

Not rankedUpdated Jul 28, 2026

No reliable edge found

Its average result can't be told apart from chance, so it stays out of our rankings.

2,318backtests3 markets

23robust scoreranked median 52

0.42p-valueranked median 0.24

7/103pass quality gatebacktests >15 trades

Audit details

How we decide whether a strategy enters our rankings. Read the methodology →

–

Repainting audit

Not run yet.

✓

Script availability

Closed-source, still published on TradingView.

Statistical edge

Average t-statistic 1.02 (p = 0.42), below the median of 1.98 (p = 0.24) for ranked strategies.

✓

Quality gate

7 of 103 backtests with more than 15 trades pass our quality gate.

Robust score

23/100, below the median of 52 for ranked strategies.

How its evidence compares

The t-statistic measures how far the average result sits from zero relative to its noise. Below about 2, it is within what random entries produce.

1.02

avg. t-statistic

1.98

median, ranked strategies

Best 5 of 2,318 backtests

Shown for transparency.

Symbol	Timeframe	Net profit	Profit factor	Trades	Max drawdown
Energy Transfer LP NYSE:ET	1H	+85%	1.22	355	20%
American Eagle Outfitters, Inc. NYSE:AEO	2H	+84%	1.35	192	27%
Huntington Bancshares Incorporated NASDAQ:HBAN	2H	+83%	1.26	234	23%
Dominion Energy, Inc. NYSE:D	1H	+77%	1.15	551	20%
Carnival Corporation NYSE:CCL	1H	+76%	1.12	404	38%

⚠Selected after the fact: these are the best 5 of 2,318 runs, not what to expect from this strategy.

Is Price action: Double top/bottom Strategy profitable?

Not reliably, based on our tests. Across 2,318 backtests, 7 of 103 with more than 15 trades pass our quality gate. The best result is +85% on Energy Transfer LP (1H, 355 trades). On average, its results are statistically indistinguishable from chance (p = 0.42).

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