Anchor Column

Developed at Definedge.

The anchor column shows a strong trend and momentum.

A long column of ‘X’ or ‘O’ with more than 15 boxes is defined as an anchor column. Despite its simplicity, this formation is very powerful, and it can be used to create a variety of setups. The requirement of 15 can be modified by the user. It can change as per the box-value or instrument.

Prashant Shah introduced this pattern in his book on P&F charts.

This pattern can be plotted on the chart by adding it from the study menu in TradePoint & 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.