The code for chart patterns is in a bunch of places - some from 2005. I was wondering if you could point me to the latest PCF code for chart patterns like double/triple tops and bottoms. Also is there something for a trend line/channel detection ?

Thanks

Muneeb

The topics covering pattern recognition in the forums were created over a very long period of time. Some of the topics are quite old, but this does not mean the newer topics are necessarily any better, they are just different.

Which topic might best meet your particular needs depends on your specific requirements. In some cases, it may not be possible to do what you want at all. I'm generally of the opinion that this type of pattern recongnition using PCFs and EasyScans is not partular good, but the techniques have been seen as useful to quite a few customers.

One possibility for identifying trending versus consolidating stocks would be to use something similar to the Trending/Consolidating (25 day) Personal Criteria Formula which was included with TC2000 version 7 at one point.

100 * (MAXH25 - MINL25) / (AVGH25 - AVGL25)

It expresses the total range over 25 bars as a percentage of the average range over 25 bars. You can change the period as desired. Low values would tend to indicate consolidation.

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
Head and shoulders
TC 2000 Bull flags, Bear Flags
PCF for rounded bottom trading

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