X Above n Percent of prev col

You can use this pattern condition to define the retracement of a column of ‘X’ to its previous column of ‘O’.

N is the retracement percentage of column of ‘X’ in this pattern. You can define the retracement percentage. As an example, if you decide on 50% retracement and run the scanner on this stock, it will show candidates who have returned more than 50% to their previous swing in the current column. It helps you to identify deep retracement candidates.

By using a system builder, you can also design various patterns and strategies.

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.