Feature Description: Pattern Screener
In todays episode of our manual using the platform, we would like to elaborate on our pattern screener.
Based on our trend finding mechanism, which identifies short-, mid- and long-term trends, by looking for local extrema, we can also try to find geometric patterns.
Such patterns are more widely known as triangles, rectangles and head shoulder patterns. There are many more which will be implemented over time. Each of those has a unique sequence of highs and lows, and that is what we are screening for. In addition, our algorithm analyses if the volume during this pattern is increasing or decreasing. In a next step we are backtesting those pattern. We compile different statistics using multiple risk/reward ratios and evaluate how often a specific pattern has been reaching the stop loss and how often it reached the calculated target.