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Hi:
I have the MetaStock plug-in, "Chart Pattern Recognition" by John Murphy. Right off the bat I simply don't agree with most of their identified patterns. I don't agree with most of their linear support lines or triangles and several others. Any "pattern finder" is in the eye of the creator, and many experts disagree as to where to draw a support or a resistance line or what is or isn't a triangle. Fortunately I got my plug-in on eBay for less than $60, but I would advise anyone who is buying any kind of pattern recognition software to test it extensively before getting it.
What I would be interested in finding is a real pattern recognition system which finds repetitive patterns (which are not defined in the TA books) within a futures chart or series of charts. I believe that these are called neural networks. But again, the design/designer is critical.
Jay
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