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Understanding
Autochartist pattern result column heading for proper analysis
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"Learn
to master chart patterns with Autochartist" |
The chart pattern
results of Autochartist are accompanied by a number of
headings that give the trader insight into the quality of
the pattern. Each of these headings should be studied
s.
 |
Each
of the headings on this pattern results gives us insight
into not only the quality of the patterns but the type,
size, and direction.
This is
exactly the type of information that is needed to
determine the likelihood of any pattern triggers and the
follow-through.
In this
example you can see that the pattern type is a
"Triangle". So let's examine some of the
historical tendencies of this pattern.
Autochartist identifies many different types of
triangles: symmetrical, descending, and
ascending. This pattern is a symmetrical pattern.
There are specific details and characteristics to each
type so here we will discuss a few of those specifics as
they relate to this symmetrical triangle result. |
Exchange
– Name of the stock exchange on which the share can be found. If
all patterns in your search were identified on the same
exchange, this column will be hidden.
Symbol –
Ticker of the symbol on which the pattern was found
Interval
– Time interval of the data on which the pattern was identified.
If all patterns in your search were identified on the same
interval, this column will be hidden.
Pattern Name
– Name of the identified pattern. For a description of the
different types of patterns click
here.
Direction
– Direction in which the breakout occurred. A
arrow means the price broke through the resistance line. A
arrow means the price broke through the support line. In the
case of emerging patterns, blank arrows (
and
 )
are used to indicate the anticipated breakout direction.
Time –
Time at which the pattern broke through either the support or
resistance line.
Trend –
Whether this pattern is a continuation or reversal pattern.
Click here
for an explanation of continuation and reversal patterns.
Length –
Length of the pattern in bars. For example: a pattern of length
30 found on 60 minute data would mean that the pattern was
formed over 30 hours.
Quality –
The overall quality of the pattern - this is the average of all
the other quality indicators.
Initial Trend
– Quality of the trend preceding the pattern formation. A
longer, more steady initial trend is an important component of a
high quality pattern.
Uniformity
– Indicates how uniformly spaced the price turning points are
that touch the support or resistance lines.
Clarity –
How clear the pattern is, that is, the lack of random price
movements during the formation of the pattern.
Breakout
– The decisiveness with which the price broke through the
support or resistance line. This quality measure is irrelevant
for emerging patterns.
Volume –
The relative amount of increase in the trading volume at time of
breakout through the support or resistance line. This quality
measure is irrelevant for emerging patterns
Autochartist University
was started with the Autochartist user in mind.
Autochartist doesn't simply identify chart
patterns, it does so across multiple time frames and also ranks
these patterns across three main criteria.
You will be able to
learn how to use these criteria with the Autochartist
University INTRO video series. You will learn about
1) How to trade chart
patterns with Autochartist.
2) Scanning the markets for set ups
3) Designing your own scans
4) Interpreting Autochartist column readings
5) Continuation v. Reversal patterns
6) Trends and Chart Cycles
These videos are the perfect compliment to you Autochartist
program. You are going to learn how to sort through the
multiple pattern alerts and focus on the pattern that is
appropriate for the current market direction. The best
chart patterns to trade in trending and non-trending markets.
How to "grade" the chart pattern results with Autochartist's
column readings and much more. And it's FREE. We
want you to benefit from the most powerful chart pattern tool
available to traders and investors today. You can sign up
for it here.
Master Chart Patterns at Autochartist University
We are proud
to present a complete chart pattern
educational program that allows traders to master chart
patterns, confirm patterns for better entries, manage
your trades, and much more.
Learn how to master chart patterns with a complete,
time-tested trading plan.
LEARN
MORE.
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