Steven Nison

[goodgoing]

There are millions of bar patterns and candles are just a very small special case. Mike Harris has developed the software Price Action Lab that can look for bar patterns in data. One problem with patterns in general is that you get them often and they can be false signals.

This is true. Candlesticks are bar patterns with some notable or regular formations. There are many more bar patterns with irregular formations that are even more important. The software you mentioned is highly regarded because it offers capability for finding these bar special formations but without making any claims that they are robust.

 

[4pipsSake]

Just use range charts and be done with it.