TSR Screener - 1 min to Qtr Tick, Tech & Funda -
Auto Refresh, Web/Mobile Alert, Back Test | Want to Explore? -
Request For Demo
Triple Top Scanner
No Records Found. Please try with some other criteria
Triple Top Scanner
What is Triple Top?
Triple Top is a bearish reversal chart pattern that typically appears after a sustained uptrend. It indicates that buyers have failed to push the price above the same resistance level on three separate occasions, suggesting weakening bullish momentum. A confirmed breakdown below the neckline signals a potential trend reversal to the downside.
How the Triple Top Pattern Forms
- The price rises and forms the first peak before pulling back.
- The second rally reaches a similar high but fails to break the resistance.
- A third rally also stalls near the same resistance level.
- The repeated failure to move higher strengthens the resistance zone.
- A close below the neckline confirms the bearish reversal pattern.
Trading Strategy
- Wait for a confirmed close below the neckline before considering a bearish trade.
- Many traders place a stop-loss above the third top.
- A common downside target is estimated by measuring the distance between the tops and the neckline, then projecting it below the breakdown point.
- Use volume and momentum indicators to confirm the strength of the breakdown.
Advantages
- Helps identify potential bearish trend reversals.
- Provides well-defined entry, stop-loss, and target levels.
- Offers stronger confirmation than a Double Top due to the third failed attempt.
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.
