High Pole Pattern

High pole is a 4-column bearish pattern.

1. Double top buy pattern
2. More than 5 boxes after double top buy pattern
3. More than 50% retracement of the entire previous column of X

The pattern shows that there was a strong bullish breakout and price moved in favour of the bulls. An abrupt supply from a higher level, however, caused a deep retracement.

High pole is a traditional P&F pattern.

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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.