Customer Support : 020-61923200, [email protected] | Call and Trade : 020-61923220
Diagonal triple bottom sell is a variation of the triple bottom sell pattern. It is a 5-column bearish pattern.
In the third column of O, there is a double bottom sell pattern but the number of boxes below the low of the previous column is 2 or less. It shows that the price did not move much after the double bottom sell pattern. In the fifth column, the price falls below the low of the third column and generates a double bottom sell signal. It becomes a diagonal triple bottom sell pattern. The same rules apply to this pattern as they do to trading a triple bottom sell signal. It is a bearish support breakout pattern but there was a weak breakout in the 3rd column.
It is a major bearish formation.
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.