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Rectangle Channel Scanner
| Code | Price | Chart Patterns | Chart | |||||
|---|---|---|---|---|---|---|---|---|
| 360ONE | 1100.7 | [Rectangle] | ||||||
| ACC | 1336.3 | [Rectangle] | ||||||
| ALKEM | 5624.5 | [Rectangle] | ||||||
| AURIONPRO | 825.0 | [Rectangle] | ||||||
| COALINDIA | 428.1 | [Rectangle] | ||||||
| CRAFTSMAN | 9268.0 | [Rectangle] | ||||||
| DCMSHRIRAM | 1009.5 | [Rectangle] | ||||||
| DOMS | 2216.6 | [Rectangle] | ||||||
| ENTERO | 1229.6 | [Rectangle] | ||||||
| GILLETTE | 7842.0 | [Rectangle] | ||||||
| GODREJAGRO | 573.0 | [Rectangle] | ||||||
| IRFC | 87.5 | [Rectangle] | ||||||
| LTFOODS | 375.5 | [Rectangle] | ||||||
| MEESHO | 184.89 | [Rectangle] | ||||||
| MSUMI | 40.05 | [Rectangle] | ||||||
| MRF | 130830.0 | [Rectangle] | ||||||
| PGIL | 1968.8 | [Rectangle] | ||||||
| PIDILITIND | 1574.9 | [Rectangle] | ||||||
| PNB | 110.38 | [Rectangle] | ||||||
| RKFORGE | 576.4 | [Rectangle] |
Rectangle Channel Scanner
What is a Rectangle Channel?
Rectangle Channel is a consolidation chart pattern where the price moves sideways between a horizontal resistance level and a horizontal support level. It reflects a period of balance between buyers and sellers before the price eventually breaks out in either direction. The pattern is often seen during trend pauses and can signal both bullish and bearish continuation depending on the breakout direction.
How the Rectangle Channel Pattern Forms
- The price reaches a resistance level and reverses lower.
- The decline finds support at a consistent price level.
- The price continues to oscillate between horizontal support and resistance.
- Multiple tests of both levels strengthen the validity of the channel.
- A breakout above resistance or below support confirms the next directional move.
Trading Strategy
- Wait for a confirmed breakout above resistance or below support before entering a trade.
- Many traders place a stop-loss just inside the opposite side of the channel.
- A common price target is estimated by measuring the height of the rectangle and projecting it from the breakout point.
- Higher trading volume during the breakout increases the reliability of the signal.
Advantages
- Clearly identifies consolidation and range-bound market conditions.
- Provides well-defined support, resistance, and breakout levels.
- Captures both bullish and bearish breakout opportunities.
TSR Scanner Features
- Real-Time Alerts: Set up alerts to get notified exactly as the condition meets.
- Fine-Tune Filter: Combine with volume and TSR strength index for better accuracy.
- Custom Tracking: Filter signals based on specific stock baskets or your personalized watchlist.
- Backtesting Capabilities: Evaluate historical data to gain confidence.
- Flexible Timeframes: Filter intervals from 1-minute to monthly ticks.
- Auto Refresh: Keeps your scanner data continuously updated.
Fine Tune : You can customise these screeners by clicking on 'Fine Tune Filter' Option
Caution : All these screeners are crafted based on some historical scenarios which may / may notbe applicable here. We recommend to fine tune them according to current market conditions or seek expert advise before taking any decision.
