Discussion of article "Patterns with Examples (Part I): Multiple Top"
Thank you so much. Been Looking for this.
I find it too confusing, maybe less code and more explanations. Understanding code is hard writing is easy once we understand the problem.. So more explanations of the problem than code, plz.
Blurred logic like that leads to facial recognition, just as a sketch drawn with a pencil leads to a portrait. A few drawing lets appear a pattern evidence that translate to a trade..
v3nen0 #:
I find it too confusing, maybe less code and more explanations. Understanding code is hard writing is easy once we understand the problem.. So more explanations of the problem than code, plz.
in the next article I will conduct a complete analysis of the entire family of these patterns in order to issue a conclusion based on trade statistics (we will conduct backtests and summarize everything in tables). I hope to draw unambiguous conclusions about the applicability of a particular pattern on a particular timeframe, based on statistics. Most likely, the code will not be. There will be only facts confirmed by statistics. I think it will be useful to everyone.
I find it too confusing, maybe less code and more explanations. Understanding code is hard writing is easy once we understand the problem.. So more explanations of the problem than code, plz.
MetaQuotes:
New article Patterns with Examples (Part I): Multiple Top has been published:
Author: Evgeniy Ilin
amazing article, i have been trying to formulate my own logic without using fractals. and you helped a lot in getting everything sorted. thanks
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New article Patterns with Examples (Part I): Multiple Top has been published:
This is the first article in a series related to reversal patterns in the framework of algorithmic trading. We will begin with the most interesting pattern family, which originate from the Double Top and Double Bottom patterns.
Regarding the topic of the article, I will try to draw a diagram as a tree of patterns that starts from a double top. This will assist in understanding how broad the possibilities of this concept are:
I decided to combine the concept of several patterns with the assumption that they are based on approximately the same idea. This idea has a simple beginning - find a good movement in any direction and correctly determine the place where it is supposed to reverse. After visual contact with the proposed pattern, the trader should correctly draw some auxiliary lines, which should assist in evaluating whether the pattern meets certain criteria as well as in determining the market entry point along with the target and stop loss level. Take profit can be used here instead of the target.
Patterns can have some common construction principles, based on which the concept of these patterns can be combined. Such clear definition is what differs algorithmic traders from manual traders. Uncertainty and multiple interpretation of the same principles may lead to disappointing consequences.
The basic patters are as follows:
Author: Evgeniy Ilin