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Registered User
Joined: 8/19/2007
Posts: 3
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hello, i'm new to the site and to TC2007. i have always relied on fund. analysis to choose stock ideas, but i am trying to learn how to integrate chart pattern analysis into my trading.
there are chart patterns (high tight flags, triangles, etc.) that have a great history of breakout success, but what's the best way to find chart patterns?
this might sound like a niave question, but is there a software that can screen stocks for emerging or existing patterns? rather than physically look at 5000 stock charts per day?
thanks alot for any help
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Sure, there is software that will find and show you the patterns even in real time as they form.
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Registered User
Joined: 8/19/2007
Posts: 3
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that's good to know. does this software have a name so that i might research it?
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Registered User
Joined: 6/6/2005
Posts: 1,157
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Hello Fakie --
You can access Recognia -- a great pattern recognition tool -- by opening a Tradeking account. They let you screen for any number of nightly patterns. They display price target, pattern analysis, and many important educational aspects relating to the formation and successful trading of patterns. I have traded a few of the picks (they come via nightly email once you've set your criteria, or you can do a straightahead screen).
One note of caution, always check the market before you trade a pattern. You'll have much greater success if you're trading in the direction of the general market -- at least that is what I have learned.
You can learn more by visiting their website www.recognia.com - but can only access the tool through certain brokerages or subscription services.
I think you can get it through Tradeking even by opening a small account.
Goodluck.
David
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Registered User
Joined: 12/21/2004
Posts: 902
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Fakie
Welcome - as you've no doubt found some people on forums such as this have friendlier more helpful attitudes than others.
I've been using Telechart for about 5-6 years now. It's an amazing tool for technical analysis - whether your trading syle involves looking for particular market conditions, or using particular indicators or chart patterns. I would take some time to learn what telechart can do both via the tutorials and experimenting on your own, and reading and searching this board and other sites on the web that offer telechart formulas. There are lots of canned formulas out there (do a search on here or on, say Google for Telechart formulas on other websites) to give you a feel for what Telechart can do, but the robustness of the program is that you can break down each market condition or pattern or indicator by individual element and, as you`get more comfortable with it, only your own imagination limits you as to what you can look for. A formula containing elements of a particular pattern or market condition that you are intersted in won't return every "hit" exactly what what you're looking for, but will whittle things down enough, that its fairly easy to then quickly go through your results to find exactly what you want. Quite often I find too many of what I want and have to resort to numerous tiebreakers. But there's never a reason to have to sift through 5000 charts.
If you haven't learned candlesticks yet, that might be a good idea as candlestick patterns are mostly composed of the relationships of the last 2 or 3 bars to each other, and very easily intuitively lend themselves to Telechart formulas - plus they also get you into the habit of thinking of each pattern in terms of its elements - and that's how you would compose forumlas looking for other patterns.
Most people on here are pretty helpful and willing to share their thoughts and expertise, so feel free to contribute and ask questions about stuff you don't understand.
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Well to get you started how about a product with works with TC Net right out of the box.
Check this out - (URL removed by moderator)
Also check this real powerful product for the daily frames - This on is actually designed to work with Amibroker. Very nice so.
(URL removed by moderator)
You can find pattern recognition for intraday in Cybertrader, tradestation, and e-signal.
Good luck.
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Registered User
Joined: 1/28/2005
Posts: 6,049
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fakie99
You may be interested in this:
http://www.worden.com/training/default.aspx?g=posts&t=24399
http://www.worden.com/training/default.aspx?g=posts&t=7719
http://www.worden.com/training/default.aspx?g=posts&t=22264
http://www.worden.com/training/default.aspx?g=posts&t=1352
http://www.worden.com/training/default.aspx?g=posts&t=37
http://www.worden.com/training/default.aspx?g=posts&t=206
http://www.worden.com/training/default.aspx?g=posts&t=1346
http://www.worden.com/training/default.aspx?g=posts&t=3268
Thanks
diceman
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Registered User
Joined: 8/19/2007
Posts: 3
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well thank you all very kindly - this is some great information. i will be researching these ideas. and probably will have more questions....
thanks for responding.
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Registered User
Joined: 8/10/2007
Posts: 5
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(URL removed by moderator) mentioned this free tool to me. Once you get it up and running it seems effective. It is very old software however.
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Registered User
Joined: 11/11/2004
Posts: 2
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Hi, If you take any watchlist you have in TC200 and sort it by "RSI," will give you the strongest stocks in you last data download.
Regards,
Al
QUOTE (fakie99) hello, i'm new to the site and to TC2007. i have always relied on fund. analysis to choose stock ideas, but i am trying to learn how to integrate chart pattern analysis into my trading.
there are chart patterns (high tight flags, triangles, etc.) that have a great history of breakout success, but what's the best way to find chart patterns?
this might sound like a niave question, but is there a software that can screen stocks for emerging or existing patterns? rather than physically look at 5000 stock charts per day?
thanks alot for any help
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