Two Back – Bearish

Developed by Definedge.

Below are the conditions required for Bearish Two Back Renko pattern:

  • At least three bearish bricks that indicate an ongoing bearish trend
  • The series of bearish bricks should be followed by a correction of two bullish bricks
  • The correction of two bullish bricks must be followed by at least three bearish bricks

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.

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.

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