📐 Formations Scanner

What it does

Detects larger chart patterns that signal major moves.

What it scans for

Reversal Patterns:

• Double Top - Price tests resistance twice, fails, reverses down

• Double Bottom - Price tests support twice, holds, reverses up

Continuation Patterns:

• Bull Flag - Sharp move up → consolidation → continuation higher

• Bear Flag - Sharp move down → consolidation → continuation lower

Breakout Patterns:

• Ascending Wedge - Narrowing range, often breaks

• Descending Wedge - Narrowing range, often breaks

How to read it

Double Top/Bottom:

• Wait for neckline break

• Volume on breakout confirms

• Target = height of pattern

Flags:

• Continuation patterns - trend resumes

• Enter on breakout from consolidation

• Small flags more reliable

Wedges:

• Can break either direction

• Wait for clear breakout

• Don't guess the direction

Best for

• Swing traders

• 4H, 1D timeframes

• Patient traders

• Pattern-based strategies