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Head & Shoulder (Potential) 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 (Potential) Scanner
What is Head & Shoulder (Potential)?
Head & Shoulder (Potential) is a developing bearish reversal pattern that forms after an uptrend when price action begins to show weakening momentum. It typically shows a left shoulder, a rising head, and a forming right shoulder, but the neckline has not yet been broken, so the pattern is still unconfirmed.
How the Head & Shoulder (Potential) Pattern Forms
- The price first forms a left shoulder during an uptrend.
- A stronger rally creates the head, reaching a higher high.
- The price pulls back and attempts to form a right shoulder.
- The neckline is identified but remains unbroken.
- The pattern is confirmed only after a breakdown below the neckline.
Trading Strategy
- Wait for neckline breakdown confirmation before taking any bearish trade.
- Early shorting is risky because the pattern may still fail.
- Watch for rejection near the right shoulder zone.
- Use volume contraction during right shoulder formation as a warning sign.
Advantages
- Helps identify early stages of potential trend reversal.
- Provides advance warning before full breakdown confirmation.
- Allows traders to prepare entries and risk levels in advance.
- Works across swing, and positional timeframes.
TSR Scanner Features
- Real-Time Alerts: Get notified as structure develops in real time.
- Fine-Tune Filter: Combine with volume and TSR strength index for accuracy.
- Custom Tracking: Monitor selected stocks or watchlists.
- Backtesting Capabilities: Analyze historical Head & Shoulder setups.
- 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.
