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Double Top Init Scanner
| Code | Price | Chart Patterns | Chart | |||||
|---|---|---|---|---|---|---|---|---|
| ASHAPURMIN | 702.55 | [Double Top] | ||||||
| ASIANPAINT | 2747.3 | [Double Top] | ||||||
| AUROPHARMA | 1580.2 | [Double Top] | ||||||
| BHARTIHEXA | 1607.5 | [Double Top] | ||||||
| CIPLA | 1473.2 | [Double Top] | ||||||
| CRAFTSMAN | 9873.5 | [Double Top] | ||||||
| CREDITACC | 1592.8 | [Double Top] | ||||||
| NYKAA | 333.4 | [Double Top] | ||||||
| GLAND | 2502.9 | [Double Top] | ||||||
| HONAUT | 38155.0 | [Double Top] | ||||||
| MAXHEALTH | 1098.5 | [Double Top] | ||||||
| MINDACORP | 700.95 | [Double Top] | ||||||
| NH | 2029.2 | [Double Top] | ||||||
| NESTLEIND | 1509.6 | [Double Top] | ||||||
| NEULANDLAB | 19043.0 | [Double Top] | ||||||
| PIDILITIND | 1611.4 | [Double Top] | ||||||
| RBLBANK | 375.5 | [Double Top] | ||||||
| SAMHI | 179.84 | [Double Top] | ||||||
| SBILIFE | 1882.0 | [Double Top] | ||||||
| STARHEALTH | 601.0 | [Double Top] |
Double Top Init Scanner
What is Double Top Init?
Double Top Init is an early-stage bearish reversal structure that appears after an uptrend when price begins forming the first peak and shows signs of rejection near a resistance zone. It indicates that a potential Double Top pattern may be developing, but it is not yet confirmed.
How the Double Top Init Pattern Forms
- The price moves up strongly in an existing uptrend.
- A first high (initial top) is formed near a resistance zone.
- Price shows rejection and begins a pullback toward support.
- Market structure suggests a possible second top may form.
- Pattern remains unconfirmed until neckline and second top develop.
Trading Strategy
- Do not short immediately; wait for confirmation of structure completion.
- Watch for weakening bullish momentum after the first peak.
- Monitor support zones for breakdown clues.
- Use volume decline during pullbacks as early warning of reversal.
Advantages
- Provides very early detection of potential Double Top formation.
- Helps traders prepare for possible bearish reversal setups.
- Allows early risk planning before confirmation occurs.
- Works across swing, and positional timeframes.
TSR Scanner Features
- Real-Time Alerts: Detects first signs of reversal formation.
- Fine-Tune Filter: Combine with volume and TSR strength index for accuracy.
- Custom Tracking: Monitor selected stocks or watchlists.
- Backtesting Capabilities: Analyze early-stage reversal behavior.
- Flexible Timeframes: Works from intraday to monthly charts.
- Auto Refresh: Keeps scanner updated continuously.
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.
