High above previous bars

In this pattern, the high price of the current Heikin-Ashi candle is higher than the high price of the previous n bars. A period of n bars can be defined by the user.

Please note that the high price of Heikin-Ashi differs slightly from the candlestick patterns. In the case of Heikin-Ashi candles, the high price is the maximum price of the actual high, the open of the Heikin-Ashi candle (average of the previous body) or the close of the Heikin-Ashi candle (average of the current OHLC).

A bullish breakout occurs when the high of the current candle exceeds the high of the previous n candles.

It is a bullish condition that can be useful when scanning stocks.

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.