Large Poles – Bullish

Developed at Definedge.

The Large pole is a small variation of the Low pole. It is a 4-column bearish pattern.

1 – Double bottom sell pattern

2 – More than 20 boxes after a double bottom sell pattern

3 – More than 30% retracement of the previous entire column of O

It shows there was a very large move in favor of the bears after the bearish breakout. However, it was followed by a strong bounce of more than 30% of the previous large column.

It’s a bullish pattern. Here, the user can define the number of boxes after the breakout or the length of the correction.

This pattern was developed by Definedge.

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.