Bullish & Bearish “Rectangles” Classical Chart Pattern Stock Screener

The rectangle chart pattern in technical analysis is a continuation pattern that signifies a temporary consolidation phase in a financial asset’s price movement, and it is characterized by two parallel horizontal lines, representing support and resistance levels, indicating a period of indecision before the previous trend tends to resume

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This post focuses on customizable factory scans associated with Bullish & Bearish Rectangles classical chart pattern. These factory scans can be edited, modified, or rewritten and then scanned using ChartAlert’s native stock screener or technical analysis scanner, namely the Basic Scanner and Advanced Scanner.

Display recent Bullish Rectangles classical chart patterns

Tags: 

List symbols where pattern is Bullish Rectangle

Add Column Bullish Rectangle Status as Status
Add Column Bullish Rectangle Target as Target
Add Column Bullish Rectangle Date as Date

Apply to NSE

Plot

This scan specifically identifies NSE symbols that have recently formed a Bullish Rectangle.

The output report provides information on the current status of the Bullish Rectangle, indicating whether it’s confirmed or unconfirmed, and if the target has been reached.

Additionally, the report includes details on the Bullish Rectangle’s target level and the date when the pattern was triggered.

Confirmed Bullish Rectangles classical chart patterns

The scan exclusively focuses on confirmed Bullish Rectangles.

List symbols where pattern is RectBull
and RectBullStatus = Confirmed

Add Column RectBullStatus as Status
Add Column RectBullTarget as Target
Add Column RectBullDt as Date

Apply to NSE

Plot

Display recent Bearish Rectangles classical chart patterns

Tags: 

List symbols where pattern is Bearish Rectangle

Add Column Bearish Rectangle Status as Status
Add Column Bearish Rectangle Target as Target
Add Column Bearish Rectangle Date as Date

Apply to NSE

Plot

This scan specifically searches for NSE symbols that have recently formed a Bearish Rectangle.

The output report provides details on the Bearish Rectangle’s current status, indicating whether it’s confirmed or unconfirmed, and if the target has been reached.

Additionally, the report includes information on the Bearish Rectangle’s target level and the date when the pattern was triggered.

Confirmed Bearish Rectangles classical chart patterns

This scan code focuses solely on confirmed Bearish Rectangles.

List symbols where pattern is RectBear
and RectBearStatus = Confirmed

Add Column RectBearStatus as Status
Add Column RectBearTarget as Target
Add Column RectBearDt as Date

Apply to NSE

Plot

For insights into the Bullish & Bearish Rectangles classical chart pattern, including the psychology underlying the pattern, and how to trade the pattern, as well as an exploration of its advantages and limitations as a tool, click here.

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