Candlestick pattern recognition - page 9
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candle pattern scanner
anyone where can i find a candle scanner that filters candle stick patterns?
31 pattern type recognition (by Alexander Gettinger)
Here are three candle pattern recognition indicators that do not repaint. The double 3 indicator alerts to go short after three bearish candles followed by 3 bullish candles in a row (bear, bear, bear, bull, bull, bull, SHORT), and alerts to go long after three bullish followed by 3 bearish candles in a row (bull, bull, bull, bear, bear, bear, LONG).
The 001-0001 pattern, where 0=bear and 1=bull consists of two bear candles in a row, followed by a bull, then three bear candles in a row followed by a bull. With this strategy, the indicator attempts to reverse a trend that often follows that pattern.
The 1-00-11-0 pattern starts with one bull or bear candle, then two opposite candles, then two more opposite to the 2[SUP]nd[/SUP] and 3[SUP]rd[/SUP] followed by a 6[SUP]th[/SUP] signal candle which is opposite to the 5th (bull, bear, bear, bull, bull, SHORT) or (bear, bull, bull, bear, bear, LONG).
Test results on the EUR-USD pair from Nov 22-28, 2013 show a 66.6% win for the Double 3 pattern, a 62% win for the 001-0001 and 58% win for the 1-00-11-0 pattern. These percentages vary from pair to pair. The 1-00-11-0 pattern has scored 67% on USD-JPY from Nov 29 to Dec 5, compared to 50% for Double 3.
Dear Mladen ,
What s the logic of 1-00-11-0 and 001001 indcators?How was arrows determined to create buy-sell signals?Do you know?
Dear Mladen , What s the logic of 1-00-11-0 and 001001 indcators?How was arrows determined to create buy-sell signals?Do you know?
Nevar, as far as I see it is based on close to open relation over last 5 bars. What I do not know is why did the author use this kind of comparison :
Close>Open && //bear
Open<Close) //bullwhen those two lines are exactly the same (as far as comparison is concerned)
PS: that same code snippet is in all the 3 indicators
Dear Mladen , What s the logic of 1-00-11-0 and 001001 indcators?How was arrows determined to create buy-sell signals?Do you know?
Hi Nevar and Mladen, the 1s and 0s are bull and bear candles respectively. I just came up with those buy/sell signals after examining months of patterns across different pairs. I was looking for patterns that were occurring about 2/3 of the time that may work well for binary options applying the Martingale system.
I'm no coder, I was just trying different codes to stop the indicator from repainting as the previous versions were. With this set-up, they are not repainting anymore...so whenever the arrow first appears, it stays there forever. That's how I was able to determine how the results might have been in looking at the chart history.
If you have a better way to code them Mladen, by all means, I'd be grateful. Also, there still is a problem with alerts occurring on the bar immediately after the pattern is complete. There is no arrow appearing on this second alert because it is not a part of the pattern. Don't know why this happens.
Hi Nevar and Mladen, the 1s and 0s are bull and bear candles respectively. I just came up with those buy/sell signals after examining months of patterns across different pairs. I was looking for patterns that were occurring about 2/3 of the time that may work well for binary options applying the Martingale system.
I'm no coder, I was just trying different codes to stop the indicator from repainting as the previous versions were. With this set-up, they are not repainting anymore...so whenever the arrow first appears, it stays there forever. That's how I was able to determine how the results might have been in looking at the chart history.
If you have a better way to code them Mladen, by all means, I'd be grateful. Also, there still is a problem with alerts occurring on the bar immediately after the pattern is complete. There is no arrow appearing on this second alert because it is not a part of the pattern. Don't know why this happens.protrade
Did you try setting alertsOnCurrent to false (to get those alerts)?
protrade Did you try setting alertsOnCurrent to false (to get those alerts)?
Yeah I did, that makes it alert on the following bar which is no good for this kind of system. The alert needs to go off immediately when the candle forms in the right direction. On candle close, there is an alert on the 2nd and 3rd bar. On current, there is an alert on the 1st and 2nd bar. There should only be one alert in each case.
Yeah I did, that makes it alert on the following bar which is no good for this kind of system. The alert needs to go off immediately when the candle forms in the right direction. On candle close, there is an alert on the 2nd and 3rd bar. On current, there is an alert on the 1st and 2nd bar. There should only be one alert in each case.
protrade
Will check the code more thoroughly then to see what is going on