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• #DESCENDING WEDGE INVESTOPEDIA UPDATE#

Maybe in next version update they would have a new scan for Triangles for all of us to use.Īlmost all of the Personal Criteria Formulas for bullish and bearish patterns you mention are for the candlestick patterns that I pointed out were possible to create in my original response. Could you forward this request to the head of your dept for consideration & distribution to whoever developed the predefined patterns now in TC. Apparently someone at Worden does this type of PCf work since there already other bullish & bearish predefined patterns in TC2000.

There are a few ideas there, however, this pattern scan would be very useful to many of us. This is true of pattern recognition in general with the exception of fixed size candlestick patterns (which are fairly straightforward as long as the pattern is well defined): They are at the very least beyond my abilities to help you create without a specific unambiguous objective definition of what you are attempting to identify (it can't be an I know it when I see it type of definition or be based entirely on an image). That said, I personally do not think complex pattern recognition is practical in TC2000 using formulas and Scans. Webinar: Trading the Flag and Pennant Patterns

Scanning for Stocks Printing a Double or Triple Bottomĭoes TeleChart support Elliott Wave indicators?įinding Continuation Triangles And Wedges With Telechart You may wish to review the following for information on pattern recognition in TC2000 (the topics mentioning flags, pennants, triangle and wedge patterns will be most on target): Any automatic trendline detection method with which I am familiar is too complicated to create as a Personal Criteria Formula (the Finding Continuation Triangles And Wedges With Telechart topic referenced below uses Linear Regression Lines as fairly reasonable stand-ins). Trendlines are for the most part determined by visual inspection. I do not know of an automated method of implementeding the Investopedia definition in TC2000 as I do not know of a method to automatically determine "trendlines". Once we have a PCF to find the AT pattern then I'd like to have an Easy Scan that adds a PCF for also finding Increasing Vol. Cite below defines & shows exactly the type pattern I'm trying to find.Ĭan you help write a PCF that can ID such a pattern BEFORE it breaks thru resistance? Want to use on "daily" & also intraday. Need to write a PCF that will scan for charts that are forming an 'Ascending Triangle (AT)'. Welcome Guest, please sign in to participate in a discussion. Attention: Discussion forums are read-only for extended maintenance until further notice.