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Let’s discuss these price pattern!

6 replies

eastpeace

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5 years ago #114494

Maybe we need a long time to wait for SQ4 released. To avoid  this is becoming more and more cheerless, Let’s discuss these ” ture ” price pattern (not only shooting star…) ! 

HOW to define these, and is it possible that these patterns can be quantized?

 

http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns

 

 

 

 

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tomas262

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5 years ago #134303

yes, you would have to have a framework when to evaluate these pattern. When to look for them and when to use them as a trade trigger. You cannot chase and trade them all the time. I think it won’t work. Let’s say you setup rules that define your support / resistance trading levels on higher timeframe. Then you setup rules for lower timeframe so that it takes trades only after second retest of that price S/R area defined using higher timeframe. That way you could accomplish trading double-tops / double-bottoms at least or 123 patterns but it’s still quite difficult task and more job for discretionary traders 🙂

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eastpeace

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5 years ago #134305

I know that Jforex(Dukascopy) can recognize these patterns in any time frames( 4h,1h,week, etc.).

 

So there must be a way to do this.

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eastpeace

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5 years ago #134307

I know that Jforex(Dukascopy) can recognize these patterns in any time frames( 4h,1h,week, etc.).

 

So there must be a way to do this.

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mikeyc

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5 years ago #135295

Here’s an interesting article about finding patterns, it reinforces my belief that candlestick patterns themselves are not very useful, due to the fact that Open and Close prices are just snapshots and brokers with differernt GMT offsets will have completely different candles.  Everyone is seeing different candles depending on broker feed.

 

https://www.dukascopy.com/fxcomm/fx-article-contest/?Automated-Pattern-Recognition-In-Forex=&action=read&id=1201&language=en

 

One option, because identifying patterns is quite challenging and would be time consuming, is to use a service like Autochartist and obtain the signals via their API.

 

http://www.autochartist.com/technical-analysis-api/

 

There is also a MetaTrader plugin for AutoChartist

 

http://www.autochartist.com/metatrader-plugin/

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eastpeace

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5 years ago #135296

thanks mikeyc.

 

I have tested the autochart plugin. But I feel it’s too easy and little amused. And it can’t be back tested.

 

Let’s look this software. I hope I didn’t offend Mark and SQ’s good man.

http://priceactionlab.com/Literature/pal70manual/pal70manual.html

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daveM

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5 years ago #135317

I think we would have to develop a method of assigning percentages for candles………. complicated processing, would take forever plus a day and half to optimize. Candles have so many different sizes for each pattern or combination.

 

Fibonacci patterns are  really complex and would consume processor……. and they are not completely accurate for entries.

 

I think this is a great idea in some ways, also see that it  would be tough to implement.

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