Long Tail Down

The long tail down indicates strong supply from higher levels.

At the higher level, it is regarded as a long tail down if there are 20 or more boxes in the column of O.

Long tail down is a traditional P&F pattern.

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.