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US $ Index Long dated chart




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Is that "pattern recognition" something you picked up by looking at the chart Alex or does your software scan for patterns in the past to see if something similar is happening now?
I scan for patterns via the eye. Have done for years. In fact in some respects that is exactly what MP is all about. Sometimes I go I've seen that pattern before now where was it and start scrolling through literally dozens of charts. We as humans are creatures of habit and it behoves anyone to learn the lesson of a prior chart pattern for when it repeats then it becomes an easy trade.
I know there are pattern recognition software out there but I don't know who/what they are. I would be obliged if anyone has a handle of that sort of thing to comment please. PS like the infamous H&S pattern that so many people are so quick to call that then trurn out to be something else so maybe the pattern that I'm showing on the $ Index chart may not be a repetition of previous at all but it makes for a good starting point in terms of discussion especially in FX land where the technical rules and the funnymental is applied after the fact
Pattern recognition in trading is something that I've been interested in for a while. I designed a system based on CRT (character recognition technology) which does the same for bar charts. Basically it scans prior patterns in the same instrument and finds the period in the past that best matches the current pattern. A score is assigned for each match which can range from 0 to 100% and the match that scores the highest qualifies etc...
is that an eld file ? would be interested if so
No - unfortunately not. I wrote the code in C#.NET

It is fairly processor intensive as it looks at your set of bars and walks backwards 1 bar at a time to compare each set. So say if you have 30 bars you want to look at and have 10,000 bars of back data in memory, it will compare the most recent 30 bars to the each of 30 bar "sets" going as far back as you specify. This is not something that EasyLanguage could do efficiently in real time.