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Scanning for Support and Resistance and chart patterns. Rate this Topic:
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ElactixNova
Posted : Saturday, October 13, 2018 3:41:42 PM
Gold Customer Gold Customer

Joined: 9/29/2018
Posts: 3

Is there a way to scan for these. I would like to scan for a cup and handles, bull flags, Inverse head, and shoulders, head and shoulders and wedges. For support and resistance, I would define it as an area where the price has bounced before many times. Thank you for any help in advance.  

Bruce_L
Posted : Tuesday, October 16, 2018 8:14:07 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

You may wish to review the following for information on pattern recognition in TC2000:

Falling wedge
Cup with a handle formation
PCF for cup with a handle
Scanning for Chart Patterns
Scanning for Stocks Printing a Double or Triple Bottom
PCFs for pennants and flags
PCF's for Triangles
Does TeleChart support Elliott Wave indicators?
Double top/bottom trend
Finding Double Tops and Double Bottoms
CUP AND HANDLE AGAIN
Finding Continuation Triangles And Wedges With Telechart
Cup & Handle PCF
Double tops and bottoms
Flag wedge and pennant pcf
05/01/2012 Webinar: Trading the Flag and Pennant Patterns

That said, I personally do not think complex pattern recognition is practical in TC2000 using formulas and Scans.

They are at the very least beyond my abilities to help you create without a specific unambiguous objective definition of what you are attempting to identify. It can't be an I know it when I see it type of definition or be based entirely on an image.

This is true of pattern recognition in general with the exception of fixed size candlestick patterns, which are fairly straightforward as long as the pattern is well defined:

Boolean PCFs for Candlestick Patterns



-Bruce
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