One Back – Bullish

Developed at Definedge.

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

  •  There must be at least two bullish bricks to begin with
  •  The bullish bricks are followed by not more than one bearish brick
  •  The correction signified by one bearish brick should be followed by two bullish bricks that trigger a bullish swing breakout

It is a very effective bullish continuation pattern that offers affordable risk bullish 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.

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