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The pattern is similar to the harmonic ABCD price pattern. The pattern consists of four columns.
The move AB of column ‘O’ is a bearish swing move. Number of boxes in column ‘O’ of CD should have the same number of boxes in AB column of ‘O’. Hence, the number of boxes in AB column is equal to the number of boxes in CD column. ABCD pattern is triggered if it is followed by a positive column reversal pattern.
It is a bullish trend reversal pattern that needs confirmation.
Definedge has developed this pattern.
This pattern can be plotted on the chart by adding it from the Add study menu in TradePoint & Patterns in RZone. The pattern is also available in the System Builder section. By combining this pattern with other patterns and indicators, you can create your own trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.