Change of Line – Bearish

Change of line is a simple & basic formation of Line – break charts.

A line in the line break chart changes the direction when reversal criteria is fulfilled.

Three line-break chart changes the trend when extreme price of last three lines is breached.

Bullish line turning into bearish line is a bearish change of line. It is an early sign that indicates that the trend has changed from bullish to bearish.

This pattern is developed by Definedge and explained in detail with data testing in the book on the Line-break charts by Prashant Shah in Shelf.

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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.



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