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Head & Shoulder Scanner
| Code | Price | Chart Patterns | Chart | |||||
|---|---|---|---|---|---|---|---|---|
| AEGISVOPAK | 290.16 | [Head & Shoulder] | ||||||
| APLLTD | 797.05 | [Head & Shoulder] | ||||||
| EMAMILTD | 398.05 | [Head & Shoulder] | ||||||
| IPCALAB | 1747.8 | [Head & Shoulder] | ||||||
| NATCOPHARM | 917.0 | [Head & Shoulder] | ||||||
| NBCC | 94.8 | [Head & Shoulder] | ||||||
| POLYCAB | 9106.5 | [Head & Shoulder] | ||||||
| THERMAX | 4306.0 | [Head & Shoulder] |
Head & Shoulder Scanner
What is Head & Shoulder?
Head & Shoulder is a bearish reversal chart pattern that forms after an uptrend. It indicates that buying pressure is weakening as the market creates three peaks: a higher peak (head) between two lower peaks (shoulders). A breakdown below the neckline confirms a potential trend reversal to the downside.
How the Head & Shoulder Pattern Forms
- The price rises and forms the left shoulder before pulling back.
- It then rallies to a higher peak forming the head.
- Another pullback occurs, followed by a lower high forming the right shoulder.
- The neckline is formed by connecting the two swing lows between the peaks.
- A breakdown below the neckline confirms the bearish reversal.
Trading Strategy
- Wait for a confirmed close below the neckline before entering a short trade.
- Many traders place a stop-loss above the right shoulder.
- Target is often measured by the distance from head to neckline, projected downward.
- Volume confirmation strengthens the reliability of the pattern.
Advantages
- Reliable bearish reversal pattern with strong historical performance.
- Provides clear entry, stop-loss, and target levels.
- Helps identify distribution phases in an uptrend.
TSR Scanner Features
- Real-Time Alerts: Get notified when structure starts forming.
- Fine-Tune Filter: Combine with volume and TSR strength index for accuracy.
- Custom Tracking: Filter signals from selected watchlists.
- Backtesting Capabilities: Analyze past Head & Shoulder formations.
- 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.
