Symmetrical and Broadening Triangles are created by the convergence or divergence of two inclined trendlines, and the movement of price between the trendlines.
Symmetrical Triangle
The convergence of an upwards trendline and a downwards trendline towards each other creates a Symmetrical Triangle. The upwards trendline forms a support and the downwards trendline is a resistance level.
Broadening Triangle
The divergence of an upwards and downwards trendline away from each other creates a broadening Triangle.
Symmetrical and Broadening Triangles with PatternSurfer
With PatternSurfer, Symmetrical and Broadening Triangle structures are automatically identified, as well as information such as the Location of the price (at upper or lower lines). Traders can take calls on the direction of expected price movement with Triangles, price continuation or potential reversal. PatternSurfer’s unique methods of finding stronger Triangles reduces the chances of false breakouts.