Flag & Pennants Screener
| SETUPVIEW | CHART | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No patterns matched the current filters. | ||||||||||||||||||
Market Notes
Conviction Score blends confidence, risk-reward, volume quality, breakout follow-through, and pattern recency. Prioritize scores above 80 with clean consolidation.
Read the breakout/invalid/level ladder with the candle context to spot late moves after the first impulse has stretched.
Checking subscription...
Screen Thesis
Institutional Setup Notes
When to use: Best for pre-breakout watchlists where patience and timing matter more than immediate entries.
Trigger: Price holds compression zone and volume starts expanding near breakout level.
Confirmation: Breakout candle closes outside structure with no immediate full retrace.
Risk: Do not front-run weak structure; false breaks rise when volume stays muted.
When to use: Use for near-term momentum entries while breakout move is still young.
Trigger: Breakout state activates and price remains on the right side of breakout level.
Confirmation: Follow-through candle plus stable volume ratio above baseline.
Risk: Late entries after extended candles reduce edge and raise pullback risk.
When to use: For quality filtering when you want strong participation behind directional moves.
Trigger: Breakout volume ratio clears threshold and holds through next few candles.
Confirmation: Momentum persists without collapsing back into consolidation range.
Risk: One high-volume spike alone is insufficient if structure immediately weakens.
When to use: For disciplined allocation where asymmetric payoff is prioritized.
Trigger: Risk-reward remains favorable even after realistic slippage assumptions.
Confirmation: Stop distance remains controlled relative to breakout and support/resistance context.
Risk: High projected R:R can be misleading when breakout quality is poor.
FAQs: Flag & Pennants Scanner
How should I read flag and pennant setups?
Use the screener to shortlist high-conviction setups, then compare breakout confirmation with volume support. Structure boundaries provide invalid levels for overextended candles.
What is conviction score in this screener?
Conviction score blends confidence, risk-reward, volume quality, breakout state, and recency. It helps rank institutional-quality opportunities versus noisy structures.
Should I focus on forming setups or breakout setups?
Forming setups support watchlist building. Breakout setups show active confirmation. Comparing both reveals the move from forming to fresh breakout.
Why does time sorting matter for pattern execution?
Pattern edge decays over time. Sorting by pattern time highlights newer valid structures and flags late, exhausted moves.
Can I run this on intraday and swing horizons?
Yes. Use 5m/15m/1h for intraday workflows and 1d for swing context. Keep position sizing aligned to timeframe volatility and stop distance.
Pattern Buckets in This Scanner
Bullish Playbook
Prefer breakouts with volume confirmation, keep stop below support/consolidation, and scale risk only if follow-through remains stable.
Bearish Playbook
Avoid aggressive short chasing. Wait for confirmation below breakout line and keep invalidation tight around resistance reclaim.
Flag and pennant continuation screener
The Flag and Pennant Screener looks for a sharp price move followed by a consolidation shaped like a flag or pennant. It helps locate candidate continuation structures and inspect their boundaries, volume behaviour and projected levels.
Confirm the pole and consolidation on the selected chart and distinguish a forming setup from a completed break. A measured-move target is a projection, not a promised outcome. Patterns can fail in either direction; evaluate the break, liquidity and invalidation rather than assume continuation from the pattern name.
How should I read flag and pennant setups?
Use the screener to shortlist high-conviction setups, then compare breakout confirmation with volume support. Structure boundaries provide invalid levels for overextended candles.
What is conviction score in this screener?
Conviction score blends confidence, risk-reward, volume quality, breakout state, and recency. It helps rank institutional-quality opportunities versus noisy structures.
Should I focus on forming setups or breakout setups?
Forming setups support watchlist building. Breakout setups show active confirmation. Comparing both reveals the move from forming to fresh breakout.
Why does time sorting matter for pattern execution?
Pattern edge decays over time. Sorting by pattern time highlights newer valid structures and flags late, exhausted moves.
Can I run this on intraday and swing horizons?
Yes. Use 5m/15m/1h for intraday workflows and 1d for swing context. Keep position sizing aligned to timeframe volatility and stop distance.