Registered User
Joined: 1/7/2010
Posts: 11
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Are any scans for this in either the stockfinder or telechart
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Worden Trainer
Joined: 10/7/2004
Posts: 65,138
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StockFinder doesn't have any Pattern Recognition built in (well it does have a lot of Candlestick Patterns available in the Web Library) and developing algorithms for this is beyond my abilities.
It is theoretically possible to identify patterns by comparing the relative positions of the most recent points of something that identifies Highs and Lows such as a Zig Zag Indicator (or if you need to backtest it, a modified Zig Zag that doesn't Plot retroactively) or possibly by checking for the correlation between the stock data and a template defining the pattern over a fixed time period.
The patterns need to unambiguously and objectively defined to develop pattern recognition algorithms however, while most patterns are actually defined in a very subjective "I know it when I see it" type way.
There is an experimental Double Bottom Rule that Craig was working on before he left in the Web Library. Select Add Rule | Select... | Double Bottom to try it out, but I really can't provide any assistance with it beyond pointing it out (he also developed a something to look for Cup and Handles in Is "Cup And Handle" built in?).
You may wish to review the following for information on pattern recognition in TeleChart (the last topic starts out working with TeleChart but provides StockFinder help as well):
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
That said, I personally do not think there is a practical way to do this using EasyScans and TeleChart's Personal Criteria Formula Language. This is true of pattern recognition in general with the exception of fixed size candlestick patterns:
Boolean PCFs for Candlestick Patterns
-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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