Autochartist

Has anyone recorded any past predictions of chart patterns from this software?

Tried it for a month - I'm not that impressed. Often the R/R was screwy or it was doing stuff I just wouldn't do. The chances of it being right are also not that great. I don't think you can just use it blindly - you will have to perhaps only take trades in the direction of the overall sentiment... or maybe flip a coin.

Chart patterns have 50/50 win rate over the longer term. Forget about them.

That depends on your definition of chart patterns

No, it doesn't. It's the chart patterns that are specifically identified by Autochartist.

If you choose only the higher quality patterns as defined by autochartist you will get better results. I've used it on forex only a few years back and had some success with it. I wouldn't say it's the greatest thing since sliced bread but certainly not worthless either. If I remember correctly I only took trades on patterns where the quality, length, breakout strength, etc, were near the top of the range on the indicator they give you. For 15m patterns I only took trades in the direction of the 1H trend, for 1H patterns I only took trades in the direction of the daily trend. Experimenting with taking 1/2 off right before the target level is reached or setting stop loss to breakeven at that point might give interesting results.

Peter

I was referring to lamog7's statement

Oh. My apologies.