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This pattern helps to determine the number of boxes appearing after the double top buy pattern.
The high number of boxes that appear after a bullish breakout is not always useful for traders who scan stocks for double top buy patterns. A pattern like this can be used to define the number of boxes after a bullish breakout. Limiting the stocks in the output window helps you show only the stocks that fit your risk appetite or that recently broke out.
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.