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Attachments: can you patent a new candlestick pattern?
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can you patent a new candlestick pattern?

  • Post #1
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  • First Post: Apr 2, 2014 12:30pm Apr 2, 2014 12:30pm
if you discover something new as a chandlestick pattern can you patent the name?
Quoting deltatrade
if you discover something new as a chandlestick pattern can you patent the name?
Just start a new thread trying to show people how to trade, make it out you're the jesus saviour and all kinds of sheep will flock, flood said thread with charts of past price movement where if your pattern was traded, it would have made money (god forbid you trade it on live calls), call your new pattern a fancy name and make sure you push that name out a lot in your thread, pretend you know what you're on about and once you get enough followers, create a website and start charging people a monthly fee (make sure you think of a good excuse or reason as to why you've started charging a fee), oh wait it's already been done... Commercial Content.

Re your question, most likely, didn't some company try and patent some naturally occuring genes in the human body a while ago?
Quoting GDR3k
{quote} Just start a new thread trying to show people how to trade, make it out you're the jesus saviour and all kinds of sheep will flock, flood said thread with charts of past price movement where if your pattern was traded, it would have made money (god forbid you trade it on live calls), call your new pattern a fancy name and make sure you push that name out a lot in your thread, pretend you know what you're on about and once you get enough followers, create a website and start charging people a monthly fee (make sure you think of a good excuse...

lmao...
Memories caught in time but never forgotten
I think you are a bit F%^^&cked in the head my friend, go away and play with your Lego.
Post a chart of the candle pattern and what it does when you see it? IE market reverses, market continues to trend etc
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Please tell me ur not serious??
Please check out my blog at https://from-zero-to-hero . net
If you patent a candle stick pattern, than a forex broker must pay you if he want to display a candlestick chart and has your pattern?

So no more doji, evening star, whatever can be displayed anymore ?
I want to buy PATIENCE
Quoting jamesr24
Post a chart of the candle pattern and what it does when you see it? IE market reverses, market continues to trend etc
Better yet, post a chart and in all likelihood someone will either point the name the candle formation is already know for, or that it is nothing.
"To hold, you must first open your hand. Let go." - Lao Tzu
i asked for patent of the name of the pattern not for the pattern itself. i just want the name association with it.
it wasn't supposed to attack you .

jamesr24 and vox dei
if i show the patterns what next? what if they are good reversal predictors?
Quoting GDR3k
{quote} make it out you're the jesus saviour
jesus christ was a psychopath magician. he saved people from their dignity as evolved animals and rational creatures.
so ? can someone pattent a new chandlestick pattern name or what? ta is a very subjective field but i think that objectivism can be done in ta.
let's take for example a pin. a pin is a very general term and a very very subjective definition. but if you take a pin and the previsious 4 bars and you make some sorts of an objective relationship between them and also with the pin itself ohlc you can say this is a pin but this is my version on it and it will work if you will trade it like ".....". i see ta going better and better in the future and i think that it can be a science. a sistematic body of knowledge around chart patterns and chandlestick patterns and around any other method. the inventor of the pattern or the method must be credited for that in my opinion. that's how you build a science.
Quoting deltatrade
jamesr24 and vox dei if i show the patterns what next? what if they are good reversal predictors?
Genes can be patented, so I don't see why it shouldn't be possible to patent something much less controversial like a candlestick formation. If the candlestick formation is a reliable reversal predictor, I must say I'd honestly be very surprised no one noticing it before. But, if it is both reliable and original, then good for you. Kudos for spotting it.
"To hold, you must first open your hand. Let go." - Lao Tzu
Quoting vox dei
{quote} Genes can be patented, so I don't see why it shouldn't be possible to patent something much less controversial like a candlestick formation. If the candlestick formation is a reliable reversal predictor, I must say I'd honestly be very surprised no one noticing it before. But, if it is both reliable and original, then good for you. Kudos for spotting it.
i don't think it's a good idea to patent genes but the process of making a new genome can be . i want to go back to old school 1800 inventing when individual names were the alpha and omega and not the company they worked for.
The person who will know whether you have identified a new candle setup is Thomas Bulkowski. He is by far the best candle expert in the world, has written many books on the subject and has mentored 1000's and 1000's of traders world wide. Google him, go to his free website and email him with your pattern. He will get back to you immediately and tell you if you have anything or not and if so what you can do with it. If your pattern is highly consistent in what it does after it forms, then you might be better off creating a system, code it onto a private, secure server and lease it out for a monthly fee. Your subscribers would not know how it works, it would be protected and they would just get an entry arrow and a pop up alert if it ran on meta. Or you can create a signal service, everytime your pattern forms an email alert goes out to your subscribers to enter a sell EJ for example. Also I have attached Thomas Bulkowskis top ten reversal setups and how well they work. Keep us informed on what you find out.
Attached Image (click to enlarge)
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Quoting jamesr24
The person who will know whether you have identified a new candle setup is Thomas Bulkowski. He is by far the best candle expert in the world, has written many books on the subject and has mentored 1000's and 1000's of traders world wide. Google him, go to his free website and email him with your pattern. He will get back to you immediately and tell you if you have anything or not and if so what you can do with it. If your pattern is highly consistent in what it does after it forms, then you might be better off creating a system, code it onto a...
i know about bulkovsky. i have his books. encyclopedias i believe they are called. one for chart patterns and the other for chandlestick patterns.
hmm. this was in the first year of study. and i believe that he tested triangles and he only tested 1 way of doing this with the triangle and from that he concluded something universal which was not true. even a classic candle can work for some parameters of ohlc and for others not. even the picture you are showing me lacks a basic understanding of trading. in trading you have targets . the further you set the price target the lower is going to be the winrate. and the closer you set the price target the better the win rate will be fantastic. but how much risk on that one , how much volatility? 79% for an average engulfing?
let's take 100 engulfings from any chart and see that this number is far beyond expectations. 79% and 1:1 gives you the best long term hedge fund. unless he made calculations for something like 79% and 1 risk and 0.2- 0.5 reward. that could be true but it's not a good system then to be traded.
in this manner even a bullish candle at the break with a big stop loss and a small tp can give something above 70% winrate.

the pattern should have objective rules for identification. and the pattern can have different stop and take profit levels. the same pattern can fail for different sl and tp and win for others. in setting price and stop loss targets we could complete the system . but sl and tp can always change and find a better option.
You would not be able to patent it but you could easily copyright the name. So you could name it the DTSC (deltatrader super candle). Then when Steve Nison or Bulkovsky is creating a new book on patterns or candlesticks and refer to it by mane then your copyright is there. Very similar to what Van Tharp tried to do with Expectancy.

At the same time Steve or bulkovsky could just call it something else and negate your copyright just by not referring to it. If you are looking at starting a commercial venture then copyright everything you can. No harm. Does it help. Probably not.
Quoting flyer415
You would not be able to patent it but you could easily copyright the name. So you could name it the DTSC (deltatrader super candle). Then when Steve Nison or Bulkovsky is creating a new book on patterns or candlesticks and refer to it by mane then your copyright is there. Very similar to what Van Tharp tried to do with Expectancy. At the same time Steve or bulkovsky could just call it something else and negate your copyright just by not referring to it. If you are looking at starting a commercial venture then copyright everything you can. No harm....
copyright. that would be the solution. maybe in the future. it depends how well it performs.
good luck on your patent! if you find that it doesn't work or has already been patented, feel free to give me a holla and/or work on my EA with me. i could use a price action expert.
Please check out my blog at https://from-zero-to-hero . net
  • Post #19
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  • Last Post: Edited 1:32am Apr 6, 2014 1:21am | Edited 1:32am
Quoting smash1820
good luck on your patent! if you find that it doesn't work or has already been patented, feel free to give me a holla and/or work on my EA with me. i could use a price action expert.
i'm not an expert yet. but i do know a lot of things about price action from this forum and a lot of my own ideas with the trial and error method.
if you want to build an expert the most basic thing that you can do is when you have the signal bar is to make the entry at the break of the high or the low.
test a good looking bullish bar and define it acording to volatility and a condition that the wicks are less then 10%. test it as a bullish signal with close price as the entry and with the break of the high and i think in most cases you will see the difference. you can also add 20ema as a filter.
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