Swing Breakout – Bullish

Developed by Definedge.

A Bullish Swing Breakout occurs when a bullish brick gets formed above the high of the immediate previous swing high.

A swing high gets formed when a bearish brick appears after a series of bullish bricks. If the next series of bullish bricks goes above the immediate previous swing high, it then triggers a Bullish Swing Breakout. To complete a Bullish Swing Breakout, the price needs to print at least one brick above the prior swing high.

Please note that a breakout above the immediate previous swing high is necessary to call it a swing breakout. Any swing pivots prior to the most recent one is not considered as a swing breakout.

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

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This pattern can be plotted on the chart by adding it from the Add study menu in TradePoint & Patterns in 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.