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The Large pole is a small variation of the High pole. It is a 4-column bearish pattern.
1 – Double top buy pattern
2 – More than 20 boxes after double top buy pattern
3 – More than 30% retracement of the previous entire column of X
It shows there was a very large move in favor of bulls after the bullish breakout. However, it was followed by a sharp decline of more than 30% of the previous large column.
It’s a bearish pattern. The number of boxes after the breakout or the length of the correction can be defined by the user in this case.
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.