Trend lines act as support, resistance, break down and breakout point for stocks. Many times deadly pattern wolfe waves are also found while scanning for this patterns.ħ) Trendline Scan : This is most useful scanning option in keystocks. Upper Trendline and lower trendline must be converging like triangle but both lines should be sloping in same direction i.e Sloping Upward in rising wedge and sloping downward in falling wedge. One of most important requirement is High volumes on breakout which can not be ignored.Ħ) Wedges : Wedges formes when stock is make Higher High / Higher Lows in case of rising wedges and Lower high and lower lows in case of falling wedges. Minimum 4 points before breakout are required to make triangle pattern but longer the pattern better is result. This is also one other most frequently seen and common pattern.ģ) Triple Top Pattern: Often act as a resistance level for stocks and most of the times it is broken on the downside.Ĥ) Triple Bottom Pattern:Just Opposite of Triple top pattern and many times acts as support zone for stocks.Expert traders buy stocks near this support zone if other technical indicators are supporting while new to technical analysis enters on breakout.ĥ) Triangles: Keystocks scan for 3 types of triangles Ascending, Descending and Symmetrical triangles.
Available Chart Pattern Scansġ) Double Top Pattern : Sometimes called an "M" formation because of the pattern it creates on the chart, the double top is one of the most frequently seen and common of the patterns.Ģ) Double Bottom : This pattern is just reverse of double top pattern and often called as "W" pattern.
Descending wedge scanner software#
Very few software support chart pattern scan, and most of such software shows patterns in their scans once they are formed while Keystocks chart pattern screener shows you such patterns much before the time they are fully formed which enables users to trade accordingly with smart investors. These price action is monitored through trendlines, channels and more often these channels may take form of some chart patterns. It is commonly said that novice traders trade with only Indicators while experienced traders first filter stocks with Price Action and then apply indicators. New patterns will be added soon in this arsnel.
You can Scan stocks in which below chart patterns have emerged.
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