Within DTB

Developed at Definedge.

After the double top buy signal, price retraces in the next column of ‘O’. Retracement of column ‘O’ falls below the bullish double top buy pattern breakout level – it is marked as ‘within DTB’ pattern.

The pattern shows that price retraced deep before forming the bullish breakout pattern. It offers a bullish affordable pullback trade opportunity. As long as the breakout was strong, demand should follow. A column reversal to ‘X’ 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.