Before the signal
The impulse and converging boundaries use confirmed extrema of closed candles; breakout direction is not preset.
Pennant Chart Pattern
Learn how a pennant forms after an impulse, inspect its converging boundaries and breakout, and explore published historical observations.
01 · Learn
What it looks like
Pennant
After a sharp move, falling highs and rising lows create converging boundaries. The figure completes when price closes beyond either boundary.
The figure completes on a close beyond either converging boundary.
Exact machine rule
An impulse of at least 3 ATR(14) within 20 candles is followed by 4–20 candles with falling highs and rising lows.
The impulse and converging boundaries use confirmed extrema of closed candles; breakout direction is not preset.
Optional practice
Check your recognition
Select the chart where the formation is already complete.
Try it
A dotted candle is still forming; a solid candle is closed. Only one chart contains a completed signal.
The exercise checks recognition. Historical outcomes are calculated separately and do not promise a price move.Three features of Pennant
Signal and boundary
An impulse of at least 3 ATR(14) within 20 candles is followed by 4–20 candles with falling highs and rising lows.
Completion
The figure completes on a close beyond either converging boundary.
Similar formations and limits of one example
A flag forms a channel; a pennant has converging boundaries. The shape identifies an event to research. It does not predict the next move or provide a trading signal by itself.
One formation does not establish the probability of a move. The historical comparison measures outcomes against a comparable background for each configuration.
Exact machine rule and definition version
An impulse of at least 3 ATR(14) within 20 candles is followed by 4–20 candles with falling highs and rising lows.
Required context: The impulse and converging boundaries use confirmed extrema of closed candles; breakout direction is not preset.
Completion: The figure completes on a close beyond either converging boundary.
Definition version 1.0 · canonical definition.
Published research at a glance
Stored publication UTC · pattern-data-v21 · methodology research-v21-session-calendar-signed-bh-plan-v1.
Latest stored candle date in the curated family table: Nov 9, 2026 UTC.
The curated family table covers 351 core and 303 additional extended configurations. These are configuration counts; the own-result registry is separate. The study compares movement after a completed signal with a matched background at the same horizon.
Go to interactive research ↓Historical research
Select the exact market conditions. Statistics, examples and threshold evidence appear only when the same definition and complete configuration have a published row.
Research methodologyInitial conditions
Reset returns to forex, all researched instruments, H1, five candles, no higher-timeframe condition and the first teaching variant. The market scope and short address stay the same.
Previously selected statistics are hidden until the shared publication responds.
Further reading
These related TLAP materials for “Pennant” are in Russian. Their examples do not replace the historical calculation above.