This simple indicator will help identify the 123 Patterns on the charts. It's build based on the zigzag indicator, which will work as a guideline to identify the 3 points. As soon as the price crosses the third point, the indicator will draw 3 lines: entry, take profit, and stop loss. Those lines will work as a reference and may help with other indicators. This...
• Zig Zag indicator plots points on the chart whenever prices reverse
by a percentage greater than a pre-chosen variable.
• Forecasts area based on zigzag statistics.
• Displays labels with detected patterns.
• Displays slope information rate of price, time diferentials and angle(experimental)
zigzag indicator with all the zigzag methods that im aware of(that matter atleast), theres something for all tastes there :P
this will be the basis for zigzag tools i make in the future.
note: some zigzags REPAINT.
This startegy based on 3-day pattern reversal described in "Are Three-Bar
Patterns Reliable For Stocks" article by Thomas Bulkowski, presented in
January,2000 issue of Stocks&Commodities magazine.
That pattern conforms to the following rules:
- It uses daily prices, not intraday or weekly prices;
- The middle day of the three-day...
Hello ladies and gentlemen traders
Continuing deeper and stronger with the screeners' educational series one more time.
This one is heavy crazy mega cool (pardon my french).
I - Concept
I present to you, ladies and gentlemen, the first screener for harmonic patterns.
Starting with an ACBD pattern screener this time!!
I used the calculations from Ricardo...
Patterns makes parts of the many predictive tools available to technical analysts, the most simples ones can be easily detected by using scripts. The proposed tool detect the simple (vanilla) form of the ABCD pattern, a pattern aiming to detect potential price swings. The script can use an additional confirmation condition that aim to filter potential false...
The script allows you to test popular candlestick patterns on various instruments and timeframes. In addition, you can configure risk management (if the value is zero, it means the function is disabled), and you can also specify the time of the trading session (for example, so that the positions are not transferred to the next day).
The author is grateful to...
A piercing pattern is known in technical analysis to be a potential signal for a bullish reversal. The formation in its strictest form is rather rare, but tends to perform better the longer the downtrend in front of it. When technical studies such as RSI, Stochastic or MACD are showing a bullish divergence at the same time a piercing pattern appears, it...
There are different and better way's to see price data, a candlestick chart is one of the best way to see the price since you have access to the open/high/low/close information, this is really efficient and can allow for naked non parametric trading strategies (candlesticks patterns) . But what about making candles out of indicators ? There are...
uses reversal candles to determine accumulation and distribution candles
remembers the last reversal candle and draws a support or resistance line at the reversal level
does a barcolor if the price breaks support/resistance
similar to the hoffman a/d breakout indicator but there is no trend detection components
Version 2 of my fractal pattern aid ( Version 1 ).
I added a bouncing line between the high and low trend lines, connecting consecutive extreme points. I also chased down a pesky bug in the slope calculation...and for now I have disabled the ability to change resolution basis for extreme detection (e.g. 30m on a 1hr chart).
For fun, I added some shading to make...
This strategy is similar to RSI V pattern strategy, but it looks for W pattern in RSI chart.
1. ema20 is above ema50
2. RSI5 crossing up 30 from oversold area
3. and RSI5 must be below overbought area (default value set to 65)
Add to existing Position
1. You can add on the next W pattern OR
2. if RSI5 is crossing up from below 20
//Candle Patterns Ranked by Performance THOMAS N. BULKOWSKI
//1. Bearish Three Line Strike +Up 67.38%
//2. Bullish Three Line Strike -Down 65.23%
//3. Bearish Three Black Crows -Down 59.83%
//4. Bearish Evening Star -Down 55.85%
//5. Bullish Upside Tasuki Gap +Up 54.44%
//6. Bullish Inverted Hammer -Down 51.73%
//7. Bullish Matching Low -Down 50.00%
This is a simple strategy based on Doji star candlestick.
It places two orders: buy stop at doji star high or previous candle high and sell stop at doji star low or previous candle low.
Exit rules are with take profit and fixed stop loss or take profit and stop loss at doji min or max.
This strategy works very well with high time frames like Daily and Weekly...