All patterns
Quasar-61 › SPX (S&P 500 (SPY ETF)) · 4h
Descending Triangle
Breakout confirmedBearish
Quality85%
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Draw it on TradingView
No bar counting. Copy the Pine Script and paste it into TradingView; the pattern, breakout, target and invalidation lines are drawn on exactly these candles.
- 1.Copy the script and open the chart on TradingView.
- 2.Open the Pine Editor at the bottom, clear it and paste.
- 3.Click "Add to chart"; the drawings appear.
Swing points
| Point | Candle open (UTC) | UTC | Bar # | Price |
|---|---|---|---|---|
| L1 | Oct 1, 01:30 PM | Oct 1, 01:30 PM | 0 | 758.79 |
| H2 | Oct 6, 01:30 PM | Oct 6, 01:30 PM | 6 | 781.62 |
| L3 | Oct 16, 05:30 PM | Oct 16, 05:30 PM | 23 | 760.64 |
| H4 | Oct 21, 05:30 PM | Oct 21, 05:30 PM | 29 | 774.44 |
| L5 | Oct 23, 01:30 PM | Oct 23, 01:30 PM | 32 | 758.68 |
| BRK | Oct 30, 01:30 PM | Oct 30, 01:30 PM | 759.68 |
Bar #: candles counted from the pattern's first point. Times are candle open times.
Lines
- ResistanceOct 1, 01:30 PM · 783.49 → Oct 30, 01:30 PM · 770.38
- SupportOct 1, 01:30 PM · 759.13 → Oct 30, 01:30 PM · 759.68
This pattern's track record
On the 4h chart
45%
Target reached after breakout
- Breakout rate
- 63%
- Reached half the target
- 58%
- Average time to target
- 13 days
- Cases
- 137 resolved cases
All timeframes
44%
Target reached after breakout
- Breakout rate
- 57%
- Reached half the target
- 60%
- Average time to target
- 11.9 days
- Cases
- 485 resolved cases
What is this pattern?
Lows stay level while highs fall. A close below support targets the triangle's starting height lower.
A close above the last high invalidates the pattern.
This is not investment advice. Patterns describe probabilities; the same pattern can resolve differently. Levels use classic technical-analysis measuring rules.