Two Back – Bullish

Developed at Definedge.

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

1. At least three bullish bricks that indicate an ongoing bullish uptrend;
2. Bullish bricks are followed by two bearish bricks, constituting a correction;
3. The correction of two bricks is followed by three bullish bricks that form a bullish swing breakout pattern.

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.

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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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