EA for chart Pattern

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Is it possible to create an EA that can scan images of patterns that appear in the market? for example, I have an image of pattern A, if that pattern appears in the market, the EA will scan it to test how high the level of similarity is to the image and then make a buy or sell decision. 

thanks for the time and the answer.

 
Abdul Barrud Darovi:

Is it possible to create an EA that can scan images of patterns that appear in the market? for example, I have an image of pattern A, if that pattern appears in the market, the EA will scan it to test how high the level of similarity is to the image and then make a buy or sell decision.

yes but you don't need to scan images , you need flexibility in the "waves" of the pattern . 

For example you may get a 6 wave uptrend and it can be summarized on a "higher domain" by one line .

You now have to decide if you use the one line or the six , for all the parts of the possible pattern(s)

Your comparison could be on a relative to previous move basis for measurement to accommodate different time durations of each "wave" 

 
Lorentzos Roussos #:

yes but you don't need to scan images , you need flexibility in the "waves" of the pattern . 

For example you may get a 6 wave uptrend and it can be summarized on a "higher domain" by one line .

You now have to decide if you use the one line or the six , for all the parts of the possible pattern(s)

Your comparison could be on a relative to previous move basis for measurement to accommodate different time durations of each "wave" 

thanks for the answer Sir Lorentos Roussos.

the problem is, im not realy that good with cooding, Sir, im absolutely newbie on this EA, thats why im looking a way to creat an EA that can scan images of patterns that appear in the market.  

 
Abdul Barrud Darovi:

Is it possible to create an EA that can scan images of patterns that appear in the market? for example, I have an image of pattern A, if that pattern appears in the market, the EA will scan it to test how high the level of similarity is to the image and then make a buy or sell decision.

MT5 has the ability to connect modules written in Python.  And Python, as you know, has the most libraries with machine learning and pattern recognition.  But there is one problem.  You won't find a programmer who is good at this and isn't busy.  Of course, if you are a rich person, then you can buy such programmers.  But at the same time, you risk losing a lot of time and money, but at the same time remaining dissatisfied with the result of your work.  To achieve a good result, you need to be the best (5% of 100%).  But if you are not a rich person, then the only option left is to learn how to use ML yourself, and then also understand what to do next with the found patterns, because you can find different patterns on different timeframes, the forecast of which contradicts each other.
 
Nikolai Semko #:
MT5 has the ability to connect modules written in Python.  And Python, as you know, has the most libraries with machine learning and pattern recognition.  But there is one problem.  You won't find a programmer who is good at this and isn't busy.  Of course, if you are a rich person, then you can buy such programmers.  But at the same time, you risk losing a lot of time and money, but at the same time remaining dissatisfied with the result of your work.  To achieve a good result, you need to be the best (5% of 100%).  But if you are not a rich person, then the only option left is to learn how to use ML yourself, and then also understand what to do next with the found patterns, because you can find different patterns on different timeframes, the forecast of which contradicts each other.

what if you are rich AND the best though ?

Abdul Barrud Darovi #:

thanks for the answer Sir Lorentos Roussos.

the problem is, im not realy that good with cooding, Sir, im absolutely newbie on this EA, thats why im looking a way to creat an EA that can scan images of patterns that appear in the market.  

You can follow Nikolai's advice above as theres more coverage and tutorials on python .

Compared to that picking the patterns up is easier .

But both are insane tasks , so you can start by trying to read the zigzag legs . That's your first step.

You will have to logically -and based on evidence- choose how your EA will handle the legs as they come in and also be aware of how zig zag works . 

If there is evidence of something you should not ignore it because you don't like what it means . This is key , and it means you may spend years on something and then throw it in the bin.

 
Lorentzos Roussos #:

what if you are rich AND the best though ?

then you are Elon Musk
 

Thankyou for the answer guys, iam really appreaciate your time to write this to me

so bassically its possible to create an EA that work like an image scanner but its increadibly hart to make. 

even a good programer who is good at this would have a hard time to make one.

so i guess, im gonna back an stick to my manual backtest.

again, thankyou for the answer guys.

 

 
Abdul Barrud Darovi #:

Thankyou for the answer guys, iam really appreaciate your time to write this to me

so bassically its possible to create an EA that work like an image scanner but its increadibly hart to make. 

even a good programer who is good at this would have a hard time to make one.

so i guess, im gonna back an stick to my manual backtest.

again, thankyou for the answer guys.

 

A hard time in terms of being cautious yes . It would be a very exciting journey in fact . That coder would learn a lot.

so one of the problems you have to be cautious about is this 

you are on the white line , no pun , your system identifies the blue pattern , then , you are on the green line and the yellow happens

Most scanners elect to hide the previous signals . That's one vulnerable point in the market you can attack . You can say no matter what happens the signal that fired remains there whether it was good or bad.

 

Is it possible to create a multiple chart patterns EA with also multiple currency pairs? If possible how please teach me.

Thanks for answer and your time.

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