Chart pattern recognition software

Chart pattern recognition software

Chart Patterns is a popular analysis tool in forex traders. Forex chart pattern is part of the technical analysis and forex chart pattern can help you to see more clearly the Forex market and to predict price movements. Chart patterns are as old as the technical analysis indicators.
chart pattern recognition software
There is free automated pattern recognition indicator software that recognizes over 170 patterns, including chart patterns and candlesticks patterns, Generally this recognition software can distinguish chart Continuation Patterns (continuing the trend) and Reversal chart Patterns (a change of the trend is expected). However, there are patterns that can be both simultaneously. The following list presents the most popular patterns:

Double Top (Reversal)
Double Bottom (Reversal)
Head and Shoulders Top (Reversal)
Head and Shoulders Bottom (Reversal)
Falling Wedge (Reversal)
Rising Wedge (Reversal)
Rounding Bottom (Reversal)
Triple Top (Reversal)
Triple Bottom (Reversal)
Bump and Run Reversal (Reversal)
Flag, Pennant (Continuation)
Symmetrical Triangle (Continuation)
Ascending Triangle (Continuation)
Descending Triangle (Continuation)
Rectangle (Continuation)
Price Channel (Continuation)

And there is a software application to automatically scans markets for chart patterns and displays them. Many of the patterns I present in separate articles, you can see a few important patterns that were easy to see. One of the popular pattern is the Ascending Triangle, or rising triangle chart pattern. In this case the price of the triangle is broken up, then came back and respected the old resistance level as support, then to climb too high up.

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