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Falling Wedge and Rising Wedge Patterns

by QuantShare, 2656 days ago
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The wedge pattern is a technical analysis pattern that can be found in the price charts of a financial asset (Stocks, futures, ETFs and bonds).

There are two types of wedge pattern: Rising wedge and Falling wedge. The former is a bearish pattern that is characterized by a contracting range and by the market making higher highs and higher lows. The latter is a bullish pattern that is formed when the market makes lower lows and lower highs with a contracting range.






In the rising wedge, a bearish signal occurs when the stock or security price crosses below the rising support line. For the falling wedge, a bullish signal occurs when the stock price crosses above the falling resistance line.

The support and resistance lines are generated automatically using the "AutoSR" function. Given a specific period, this indicator creates the support or resistance line by automatically finding the line that links between two local lows (support) or two local highs (resistance).

This screen creates three columns:
Falling Wedge: Indicates whether this pattern was detected.
Rising Wedge: Indicates whether a rising wedge pattern was detected.
Signal: Return "1" if the price crosses above its resistance (falling wedge) or crosses below its support (rising wedge).


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Object ID: 1147


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