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Triple Top (Potential) Scanner
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Triple Top (Potential) Scanner
What is a Triple Top (Potential)?
Triple Top (Potential) is a developing bearish reversal pattern that appears after an uptrend when price is repeatedly failing near the same resistance zone. It is not yet confirmed because the neckline has not been broken, but it signals weakening bullish momentum and possible distribution.
How the Triple Top (Potential) Pattern Forms
- The price moves up and forms the first peak.
- It pulls back and then rallies again toward the same resistance zone.
- A third attempt is made to break higher but fails near the same level.
- Support (neckline) still holds, so the pattern remains unconfirmed.
- Breakdown below neckline confirms the Triple Top bearish reversal.
Trading Strategy
- Do not short early; wait for neckline breakdown confirmation.
- Watch for rejection candles near the resistance zone.
- Use volume decline on rallies as early warning of weakening momentum.
- After confirmation, stop-loss is typically placed above the third top.
Advantages
- Helps identify early signs of bearish exhaustion at resistance.
- Provides preparation for potential high-probability reversal setups.
- Stronger than Double Top (Potential) due to multiple failed attempts.
- Works across swing, and positional timeframes.
TSR Scanner Features
- Real-Time Alerts: Get notified as price approaches resistance repeatedly.
- Fine-Tune Filter: Combine with volume and TSR strength index for better accuracy.
- Custom Tracking: Filter signals based on specific stock baskets or watchlists.
- Backtesting Capabilities: Evaluate historical behavior of similar setups.
- Flexible Timeframes: Works from 1-minute to monthly charts.
- Auto Refresh: Keeps 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.
