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Chart Pattern Recognition 2 |
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- Detects and draws the following chart formations:
- Ascending and Descending Triangles.
- Symmetrical and Expanding Triangles.
- Uptrend and Downtrend Channels.
- Rising and Falling Wedges.
- Rectangles.
- Draws parallel lines without a second peak or trough.
- Three different signals for potential entries:
- Breakouts, Confirmed support or resistance, Price just above support or below resistance.
- Calculates all lines on logarithmic scale.
- Very similar to Pattern Recognition 1, however, this tool uses a different algorithm which makes it more suitable
for short term patterns and it needs no sensitivity parameter.
- Additionally the close price can be selected instead High & Low to draw and detect trendlines.
- Audio and email alerts available.
The snapshot below shows the parameter window in automatic analysis.
As in pattern recognition 1 you can select your favorite patterns for automatic analysis.
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