can price action be automated?

Quote from intradaybill:

What do you mean by "price action"?
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Well a lot of people claim to trade from 'price action' and there have been threads here discussing what exactly price action is.

Most say it is just technical analysis without indicators, looking at thing like inside bars, higher highs/higher lows etc, and using support/resistance, all combined into one strategy.

However, Ive never really heard of people automating their 'price action' methods. I certainly couldn't do it, but having read endless definitions and examples of 'price acion' I dont see why it couldn't be done..?

thanks.
 
Quote from Brianharvey:

Well a lot of people claim to trade from 'price action' and there have been threads here discussing what exactly price action is.

Most say it is just technical analysis without indicators, looking at thing like inside bars, higher highs/higher lows etc, and using support/resistance, all combined into one strategy.

However, Ive never really heard of people automating their 'price action' methods. I certainly couldn't do it, but having read endless definitions and examples of 'price acion' I dont see why it couldn't be done..?

thanks.
More...

It is very easy to automate.

The problem is you're then able to run some statistical tests on your "strategy".
And you quickly realize that you have no edge and that your (hypothetical) success so far is due to luck.
Talk about a bad day...
 
Quote from Brianharvey:

Can price action be automated?
thanks
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Can it be automated?
Yes

Will it be profitable?
No

TA and price-action is a scam so you generate commissions from frequent trading.
 
Quote from crgarcia:

Can it be automated?
Yes

Will it be profitable?
No

TA and price-action is a scam so you generate commissions from frequent trading.
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I take it you trade using fundamental analyis then??
 
Quote from Brianharvey:

Most say it is just technical analysis without indicators, looking at thing like inside bars, higher highs/higher lows etc, and using support/resistance, all combined into one strategy.

However, Ive never really heard of people automating their 'price action' methods. I certainly couldn't do it, but having read endless definitions and examples of 'price acion' I dont see why it couldn't be done..?

thanks.
More...

It has been done already by many. Some have even gone a a step beyond that. This little program I use, APS, does data mining for price action patterns based on OHLC that satisfy user-defined performance criteria. It generates code for several platforms or you can use the output in excel format with the IB API to place orders.
 
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