About Scanner: Rising Three Methods Candlestick Pattern

What is the Rising Three Methods Candlestick ?

Rising Three Methods is a bullish continuation candlestick pattern that occurs in an uptrend, signaling a temporary pause before the trend resumes.

Key Points of Rising Three Methods :

• First Candle: A long bullish candle, indicating an uptrend.
• Next Three Candles: Small bearish candles, staying within the range of the first bullish candle.
• Fifth Candle: A large bullish candle, closing above the first candle's high.

Trading Strategies:

• Enter Long Position: At the close of the fifth bullish candle.
• Use Indicators: Use other technical indicators for confirmation.

Warning:

If the bearish candles close below the first candle's low, as this may indicate weakening momentum.

Target:

Short-Term: Aim for the height of the first bullish candle.
Long term - Look at other aspects like volume spurt , recent support / Resistance levels and other technicals.

Stop Loss:

Set below the low of the first bearish candle.

TSR & Rising Three Methods Scanner:

• Set alerts for real-time notifications.
• Combine Rising Three Methods pattern with other technicals/patterns with Fine Tune Filter option.
• Filter on Stock basket or your watchlist.
• Backtest to gain confidence in the pattern.
• Filter on small time frames (5 minutes to monthly).
• Auto-refresh feature available.

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.

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