Best of s.c.a.n.

« Previous Article | Top | Next Article »

Best of s.c.a.n. is an ongoing collection of the the best responses to the questions submitted to our StockCharts Answer Network. Selected by our customer support team and s.c.a.n. editors, these responses are the answers to your questions that we wish we'd written ourselves.

If you have a question you'd like to ask the StockCharts community, please visit the s.c.a.n. homepage. You can create your s.c.a.n. account and submit the question from there.

Scanning for P&F Chart Patterns

Chart patterns on regular bar/candestick charts are very subjective which makes them very hard for a computer to find.  Because of that, our Scan Engine does not support scanning for chart patterns on bar/candlestick charts.

On the other hand, P&F Chart Patterns are pretty easy for a computer program to detect because the relationship between the X's and the O's for each pattern is very well defined.  And thus our Scan Engine supports scanning for those.  There is a "gotcha" however...


The "gotcha" is that a P&F chart can "have" a particular chart pattern on it for quite some time - weeks, months, even years.  If you just scan for stocks where "Bullish Catapult" is true, you may get back stocks that have had the "Bullish Catapult" pattern for the past several days or weeks.

What you probably want to scan for instead is stocks where "Bullish Catapult" is true "0 days ago" and where "Buillish Catapult" is false "1 days ago".  That will find all the new Bullish Catapult stocks that may be breaking out to the upside.

Ss20090326
Click here to run this scan.

To read other questions and answers or to submit your own questions, please visit the s.c.a.n. homepage.

« Previous Article | Top | Next Article »

Other StockCharts Blogs

Subscribe to this blog