Tip on a Good Pattern Recognition Software?

V

ValZ2020

Hello everyone!

I am wondering if anyone could recommend a good pattern recognition software to a novice? Automated alerts about stuff like "hey you got a bull flag forming on XYZ", "reverse head and shoulders on ABC spotted", "YYY is teetering with a fib retracement level at price X", something useful and not too overwhelming?

thanks a lot!
 
ValZ2020 said:
Hello everyone!

I am wondering if anyone could recommend a good pattern recognition software to a novice? Automated alerts about stuff like "hey you got a bull flag forming on XYZ", "reverse head and shoulders on ABC spotted", "YYY is teetering with a fib retracement level at price X", something useful and not too overwhelming?

thanks a lot!
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Note that you can't have a bull flag, etc. "forming"; that last bar could reverse and fail at the very last second, and it wouldn't be a bull flag anymore.

Most decent platforms have indicators and pattern recognition built in; e.g., TradeStation has tons of that kind of thing. However, the fact that it's that widely and trivially available should also be a very large and loud clue about how useful it is... if any of these things worked, then everybody would use them - and there would be no advantage left.
 
Human brain is hard wired to find patterns in random suites. Don't waste money on BS software: try to think out the box and see randomness where others see patterns. Read Taleb and make money.
 
BlueWaterSailor said:
Note that you can't have a bull flag, etc. "forming"; that last bar could reverse and fail at the very last second, and it wouldn't be a bull flag anymore.

Most decent platforms have indicators and pattern recognition built in; e.g., TradeStation has tons of that kind of thing. However, the fact that it's that widely and trivially available should also be a very large and loud clue about how useful it is... if any of these things worked, then everybody would use them - and there would be no advantage left.
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A double top or a double bottom is usually a great pattern, when it occurs at critical levels and given you wqit for confirmation befire entering, usually you will then catch big moves.
 
Candle stick pattern is a good pattern and it will help you to see the price patterns and price actions in a better way. It will provide more information like when to open a trade and close a trade.
 
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