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automatic chart pattern drawers for MT4?

  • #1
  • First Post: Edited 11:06pm Oct 25, 2006 10:18pm | Edited 11:06pm
Hi,

Is there a automatic chart pattern drawer for MT4?

Such as:

  1. Symmetrical Triangles
  2. Ascending Triangles
  3. Descending Triangles
  4. Double Top
  5. Double Bottom
  6. Head and Shoulders
  7. Reverse Head and Shoulders

thank you

  • #2
  • Oct 26, 2006 8:48am Oct 26, 2006 8:48am
i doubt anybody can make indicators to draw out those patterns. Because from what i see, people make out any patterns on any random price action.
Just like if i see an 'elephant' in the clouds, you might see a 'fat lady'. It's all discretion and individual point of view.
  • #3
  • Oct 26, 2006 9:51am Oct 26, 2006 9:51am
I think you're going to have to get used to drawing your trend lines and trend channels yourself. It's really not that difficult.

On a 4 hour chart, you barely need adjust them one a day. On a 15 minute chart, you'll be adjusting and redrawing them a few times a day.

The main thing I like about trend channels, is that their signals, don't change if you change the time frame, which is what happens with mathematical indicators. Change the time frame and a buy signal can change to a sell signal. With trend channels, when you change the time frame, all you get is a closer view. Think abouts it.
  • #4
  • Oct 26, 2006 12:34pm Oct 26, 2006 12:34pm
thank you, the reason I'm asking is because sometimes I have a hard time deciding where to draw the lines!!! but I guess with exprience I should get better...


thanks
  • #5
  • Oct 26, 2006 1:50pm Oct 26, 2006 1:50pm
I don't know about chart patterns but they have indicators that indentify candlestick patterns. I mean they identify a hell of a lot of different patterns and draw them on the chart.

I don't have it anymore, but just search around the internet, yahoo groups and the various forum sites and you should be able to find it.
  • #6
  • Oct 26, 2006 3:53pm Oct 26, 2006 3:53pm
ycomp do you remember the name of the indicator?

I've googled but Google gives no results..
  • #7
  • Oct 26, 2006 5:32pm Oct 26, 2006 5:32pm
Quoting thepunisher
ycomp do you remember the name of the indicator?

I've googled but Google gives no results..
... that would be this one (see attached)
Attached File(s)
File Type: mq4 Pattern Recognition.mq4   14 KB | 14,199 downloads
You can quit and they won't care, but you will always know.
  • #8
  • Oct 27, 2006 9:40am Oct 27, 2006 9:40am
Quoting spank
Hi,

Is there a automatic chart pattern drawer for MT4?

Such as:

 

  1. Symmetrical Triangles
  2. Ascending Triangles
  3. Descending Triangles
  4. Double Top
  5. Double Bottom
  6. Head and Shoulders
  7. Reverse Head and Shoulders

thank you



I came by a chart pattern recognition software lately...I tried it & although it is not as reliable as the human mind, it might help find potential patterns without the need to examine every single chart with the naked eye...



You can try it at www.cpfinder.com...If you like it, I think you can purchase a copy for around $300 or so...Might be worth the money for you..


Thanks,

Nader
  • #9
  • Apr 13, 2009 11:49am Apr 13, 2009 11:49am
Quoting Akuma99
... that would be this one (see attached)
does anyone actually try using these indicators before posting them? this pattern recognition mq4 is gibberish and completely useless.
  • #10
  • Dec 19, 2012 5:16pm Dec 19, 2012 5:16pm
can any one actually draw these patterns without using any indicator ... ... mathematician will make a fortune I guess
let the chart to be your chauffeur ... -Forexmnstr-
  • #11
  • Dec 20, 2012 6:07am Dec 20, 2012 6:07am
Quoting spank
thank you, the reason I'm asking is because sometimes I have a hard time deciding where to draw the lines!!! but I guess with exprience I should get better...


thanks
Just draw loads of lines and observe the price action around them. You may find that horizontal lines from monthly and weekly highs/lows the most interesting (Look at the lower time frames). Flags and triangles and consolidation are all worth learning to draw yourself. Trading off them profitably is harder than drawing them, in my opinion.
Gone to a better place
  • #12
  • Dec 20, 2012 11:09pm Dec 20, 2012 11:09pm
Quoting smikester
Just draw loads of lines and observe the price action around them. You may find that horizontal lines from monthly and weekly highs/lows the most interesting (Look at the lower time frames). Flags and triangles and consolidation are all worth learning to draw yourself. Trading off them profitably is harder than drawing them, in my opinion.
that forex guy has been drudging up all manner of old threads and starting new, bad, threads. this thread is oooooooooooooo

ooooo

ooooooooooold. old.

but, since it's up here's something i'd like to see. i want to see someone give a rough chart-like drawing that does NOT show any typical technical analysis 'shapes'. they say that charts are random, and you'll find all manner of geometry within even a genuinely randomly generated chart, so let's take it from another angle. let's make a chart that is 100% manually created, or you could maybe say 'manipulated', that doesn't show ANY technical geometry. no trendlines, or s/r, or fib bounces, or elliott waves, or gann lines, etc etc.

if someone can create a type of line chart with, let's say, something like 50 data points which doesn't show any type of 'chart pattern' in it i'd be super impressed. if nobody can come-up with one then i think that raises some interesting questions about charts and chart patterns. we all know noise can make chart patterns, but can you deliberately make a chart that doesn't show any patterns?

i suspect it's a lot like trying to find water that isn't wet.
Congratulations ScalaFX for coming out of the closet!
  • #13
  • Dec 20, 2012 11:49pm Dec 20, 2012 11:49pm
Quoting nubcake
that forex guy has been drudging up all manner of old threads and starting new, bad, threads. this thread is oooooooooooooo

ooooo

ooooooooooold. old.

but, since it's up here's something i'd like to see. i want to see someone give a rough chart-like drawing that does NOT show any typical technical analysis 'shapes'. they say that charts are random, and you'll find all manner of geometry within even a genuinely randomly generated chart, so let's take it from another angle. let's make a chart that is 100% manually created, or you could...
I just generated some charts and one of them is the actual market, you decide


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AVT INVENIAM VIAM AVT FACIAM
  • #14
  • Dec 20, 2012 11:58pm Dec 20, 2012 11:58pm
Quoting the redlion
I just generated some charts and one of them is the actual market, you decide


Attachment

Attachment

Attachment

Attachment

Attachment
can't tell a difference. with that said, if you gave me about 2 days worth of m1 data in candle form mixed in with random charts i expect to be able to, more often than not, pick the true m1. but that's because it tends to have clear volatility patterns and markers that just aren't random.

i do see a lot of trend lines and some s/r in each pic, and that's just from 1 second of eyeballing and nothing more. so, maybe someone else can make a chart that has no 'chart patterns'?

edit : actually, if i had to guess i'd guess.... D is the real. but that's purely pulling it from somewhere requiring a gloved hand.
Congratulations ScalaFX for coming out of the closet!
  • #15
  • Dec 21, 2012 12:06am Dec 21, 2012 12:06am
Quoting nubcake
can't tell a difference. with that said, if you gave me about 2 days worth of m1 data in candle form mixed in with random charts i expect to be able to, more often than not, pick the true m1. but that's because it tends to have clear volatility patterns and markers that just aren't random.

i do see a lot of trend lines and some s/r in each pic, and that's just from 1 second of eyeballing and nothing more. so, maybe someone else can make a chart that has no 'chart patterns'?

edit : actually, if i had to guess i'd guess.... D is the real....
yeah d is real

but the other ones are completely random....the only thing I am using is the same volatility parameters, and drift as the real market.

they are daily close, plot charts


you are pulling it from looking at a recent chart so you remember the pattern subconsciously, if I had to do this as a more controlled study I would use old data not recent data for the last year of trading.
AVT INVENIAM VIAM AVT FACIAM
  • #16
  • Dec 21, 2012 12:16am Dec 21, 2012 12:16am
Quoting the redlion
yeah d is real

but the other ones are completely random....the only thing I am using is the same volatility parameters, and drift as the real market.

they are daily close, plot charts


you are pulling it from looking at a recent chart so you remember the pattern subconsciously, if I had to do this as a more controlled study I would use old data not recent data for the last year of trading.
i haven't looked at a 'recent' chart in ages. i couldn't tell you what any prices are, or are near. so no, the reason i picked D has nothing to do with having seen it recently because i simply have not! i've been busy with other things and only in the last few days have i opened mt4 to poke around in some gbp data from years ago. i can't even remember the last time i would have ever seen a daily chart either, so that's a double 'no'. sorry to disappoint

so we've seen 2 things. 1, i can pick a real chart from a somewhat random one (or i'm just bullshit lucky). 2, a random chart shows typical chart patterns as has been mentioned a whole lot of times.

i still want to see a hand-made chart that doesn't show chart patterns. is such a thing possible? am i that unimaginative that i can't imagine a chart having no perceivable chart patterns? someone show me this unicorn.

people often debate the whole random versus non-random movement of charts, and the patterns they supposedly produce. if we can't even produce a totally fabricated chart that doesn't have patterns then that suggests to me the random vs non-random arguments are kind of not really the point. chart patterns seem, to me, to be the weakest evidence of it being either.
Congratulations ScalaFX for coming out of the closet!
  • #17
  • Dec 21, 2012 12:18am Dec 21, 2012 12:18am
in case you are curious this is how I did them

R program

Price*e^(drift+standard deviation of euro*random norm distribution)

then price_n-1*e^(drift+standard deviation of euro*random norm distribution ) and so on


plot(random chart, type="o",col="black")

time frame daily......periods 252

you can do it in excel as well

do

normsdist in one column A

drift+stdev*A1 in column B

price*exp(column B) in C1

then C1*exp(ColumnB)



then plot them with line plot
AVT INVENIAM VIAM AVT FACIAM
  • #18
  • Dec 21, 2012 12:20am Dec 21, 2012 12:20am
Quoting nubcake
i haven't looked at a 'recent' chart in ages. i couldn't tell you what any prices are, or are near. so no, the reason i picked D has nothing to do with having seen it recently because i simply have not! i've been busy with other things and only in the last few days have i opened mt4 to poke around in some gbp data from years ago. i can't even remember the last time i would have ever seen a daily chart either, so that's a double 'no'. sorry to disappoint

so we've seen 2 things. 1, i can pick a real chart from a somewhat random one (or...
the answer to your question is

yes you are unimaginative (no offense)

a hand made chart will have patterns because your brain will make them for you......after all we are pattern seeking primates.

edit* and the fact that the market resembles a Normal distribution also makes random charts a bit like the market

here is the kicker....if you are looking at returns.....it's a different story
AVT INVENIAM VIAM AVT FACIAM
  • #19
  • Dec 21, 2012 12:24am Dec 21, 2012 12:24am
you seem to be trying to make my point for me, but with a disagreeing tone. it's a bit conflicting.
Congratulations ScalaFX for coming out of the closet!
  • #20
  • Dec 21, 2012 12:35am Dec 21, 2012 12:35am
Quoting nubcake
you seem to be trying to make my point for me, but with a disagreeing tone. it's a bit conflicting.
sorry for the tone...... I am only presenting objective data.

I actually do not know what your point is ......my point is that there is something non random about the market and it is visible in the long run...it tends to respect standard deviations times one, and volatility will expand and contract with systemic shocks while random generated RETURNS will follow a random normal distribution.

in the short term the returns are RANDOMLIKE

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In the Long run macro economic events create heavy tail events and expanding volatility in a completely NON RANDOM WAY.


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AVT INVENIAM VIAM AVT FACIAM
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