Within DBS

Developed at Definedge.

After the double bottom sell signal, price retraces in the next column of ‘X’. The retracement of column of ‘X’ goes above the bearish double bottom sell pattern bearish breakout level- it is marked as ‘within DBS’ pattern.

The pattern shows that price retraced deep before triggering the bearish breakout pattern. It offers a bearish affordable pullback trade opportunity. If the breakout was strong, supply is expected to occur from here. The column reversal to ‘O’ will provide confirmation.

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.