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This pattern helps to determine the number of boxes appearing after the double bottom sell pattern.
There are times when the high number of boxes after the bearish breakout is of a very limited use to traders when they scan the stock charts for the double bottom sell pattern. They can use this pattern to define the number of boxes after the bearish breakout. Using this tool, you can limit the stocks displayed in the output window and show only those stocks that fit within your risk appetite or that have recently triggered a breakout.
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.