Bollinger lower band bounce
Price closing back inside the bands after a two-standard-deviation flush.
A close below the lower band is a statistically unusual amount of selling. Closing back above it is the band trader's classic entry, on the argument that the unusual condition resolved upward. The thing to respect is that in a genuine downtrend price can ride the lower band for weeks. This scan finds the re-entry. When the re-entry fails, that is information too.
More reversals:RSI oversold turning upRSI overboughtGolden crossDeath crossMACD bullish crossover
Price and delivery data from the eod2 dataset: National Stock Exchange of India end-of-day files, split- and bonus-adjusted, updated after each close. Not affiliated with or endorsed by NSE. PatternsRadar is a research tool. Nothing here is investment advice or a recommendation to buy or sell anything.