Finding patterns in charts


Active member
Hello All,
Does anyone know of software which can scan for patterns in charts? For example, if I'm looking for a double bottom formation or head and shoulders. Is there any software out there which allows you to find these? I'm looking at primarily the UK market for this sort of data...

Cheers guys


Hi Bottomdollar

The Pitstock web ste can do this for you. Also Metastock can have a plugin for it that will scan for chart patterns.

The best patterns for trading are the ones you see, not scan for. What I mean by that is that if everyone can see the same pattern, then they usually perform better because everyone is trading it. Practice makes perfect, and flipping through charts each night at the rate of 50 per minute means it's not too arduous a task.

Remember too that if you have to squint to see the pattern, then it isn't really there. :D
Sharescope is good for flicking through charts. 50 a minute is a bit fast for me though! I must try eating more carrots, it seems to work for Skim. :eek:
If you're using ShareScope, you can set up the slide show feature to flip through them automatically, which saves having to press the button for each chart.

Carrots will give you 30-40 per minute, but dandelion leaves give you that extra 10-20 per minute I find. :cheesy:
Hi Guys
Thanks for the input.. greatly appreciated! Just looking for bottom, top formations to trade with.. if they show divergence then I'll look further. I look at a few stocks at the mo and the combination of tops or bottoms with divergence seems to work very well... I just want to be able to see if I can shortcut the process by finding these setups rather than go into each chart of every stock I know..
Updata Technical Analyst has a pattern scanner which can find the ones mentioned and also a full range of japanese candlestick patterns. A free trial is available