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Fellow technicians,
Many thanks for the welcome remarks, suggestions and links
to other sites.
> As you are probably painfully aware, chart patterns are really
> tough to code in MetaStock. Do you identify the patterns
> visually and plot the lines manually, or have you automated it
> somewhat?
I identify the patterns visually and plot manually. I also use a
smoothed RSI to identify divergences and Average True Range
to track volatility. Am currently experimenting with bollinger
bands to see if they fit my trading approach. Basically, I use
the indicators to evaluate whether the pattern I've spotted
has a bias to succeed or fail.
Years ago when I used Supercharts 3.0, I could draw a trend
line or a horizontal s/r lin and set an alert on it. If a stock touched
the line, I would get an alert in my daily database scan. I hope
Metastock includes a feature like this in its upcoming revamp
for us pattern traders.
Regards,
Maurice
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