Scanning Pattern software

vitorleite

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Is there any chart package or any scanning software with the possibility of scanning chart patterns like Head and Shoulders?
I know that neoticker is one of them but do you know more ?
 
Is there any chart package or any scanning software with the possibility of scanning chart patterns like Head and Shoulders?
I know that neoticker is one of them but do you know more ?

Best chart pattern scanning software I've ever used is the Mk1 eyeball !
 
Best chart pattern scanning software I've ever used is the Mk1 eyeball !

I agree...after you have found the right stock and the right chart. With hundreds of stocks around, you're not going to review charts one by one I suppose. So the purpose of my question was to filter by chart patterns.
 
I agree...after you have found the right stock and the right chart. With hundreds of stocks around, you're not going to review charts one by one I suppose. So the purpose of my question was to filter by chart patterns.

vitorleite,

I was being slightly facetious :) but quite frankly it is so easy to flip through the charts by eye - you can do this with Metastock & other software at about 1 every 1-2 seconds and just sort out what's worthy of further investigation. I do this for the FTSE350 once every week and it doesn't take long - especially when you get to know the "no-hopers". Thomas Bulkowski has done quite a bit of work with computer matching of certain patterns - i found his stuff worth a read.

But i still reckon for practical purposes the eyeball is as good as anything - the brain's ability at pattern matching and recognition is incredible. I presume that's why some people can just look at a chart and "know" what will happen next in all probability. I certainly find it easy now to discard the "rubbish" by eye.

Hope you're successful with finding software. It's difficult to get an objective opinion - all the vendors reckon their stuff is marvellous (what a surprise!). If you kow the specific patterns you're looking for and you're not doing it real-time (ie you are using historic data) then it is possible to program it yourself if you have a rudimentary understanding. (Python open source or one of the Basics ?) I suppose if your're really clever and know about APIs etc and have a suitable data feed you could do it for real-time!

Please keep posting on the progress of your investigations.
 
vitorleite,

I was being slightly facetious :) but quite frankly it is so easy to flip through the charts by eye - you can do this with Metastock & other software at about 1 every 1-2 seconds and just sort out what's worthy of further investigation. I do this for the FTSE350 once every week and it doesn't take long - especially when you get to know the "no-hopers". Thomas Bulkowski has done quite a bit of work with computer matching of certain patterns - i found his stuff worth a read.

But i still reckon for practical purposes the eyeball is as good as anything - the brain's ability at pattern matching and recognition is incredible. I presume that's why some people can just look at a chart and "know" what will happen next in all probability. I certainly find it easy now to discard the "rubbish" by eye.

Hope you're successful with finding software. It's difficult to get an objective opinion - all the vendors reckon their stuff is marvellous (what a surprise!). If you kow the specific patterns you're looking for and you're not doing it real-time (ie you are using historic data) then it is possible to program it yourself if you have a rudimentary understanding. (Python open source or one of the Basics ?) I suppose if your're really clever and know about APIs etc and have a suitable data feed you could do it for real-time!

Please keep posting on the progress of your investigations.

I believe if you check out TB's website, he has developed some Pattern Recognition software, which is "free" for download!!!! Always a bonus IMO !!!

Unfortunately, I haven't personally used it so can't comment on its reliability....

Chorlton
 
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