One Back – Bearish

Developed at Definedge.

Below are the conditions required for Bearish One back Renko pattern:

• There must be at least two bearish bricks in the first swing
• Bearish bricks followed by not more than one bullish brick
• Correction of one brick followed by at least two bearish bricks, thus forming a bearish swing breakout

It is a very effective bearish continuation pattern that offers affordable risk bearish trade opportunity.

Prashant Shah introduced this pattern in his book on Renko charts.

Click here to know more about the 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.