for moiramac, page-6

nothing to do with number of legs up or down. They are boxes constructed using specific rules to set the bottom and top of the box. The top acts as a breakout if accompanied with volume (buy in or add to position) and the bottom acts as a stop loss (sell). As the price moves the rules on box calculations need to get constantly monitored to determine if a new box should be calculated, still in same box etc...

Best to buy the book and read it - but volumes were a lot lower back in those days so some tweaking might be worth considering based on that.