Wedges, triangles, and stuff: Chart patterns for breakouts Message Board

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Strategies & Market Trends : Wedges, triangles, and stuff: Chart patterns for breakouts

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To: HeyRainier who wrote (232)	9/24/1997 12:36:00 AM
From: ftth	of 257

Rainier: RES: WOW! I'll say it took a big trip south! Maybe some FLAG potential here. Not sure about the ascending triangle question, but I've thought about it before. I guess I'd need to write a routine to draw automatic trendlines, count the number of tests (3 minimum), have a slope of zero, and have some built-in hysteresis (so the tests dont have to land exactly on the trendline). I guess it would first search for peaks on the daily highs (take the derivative, tag the places where the derivative is zero, then reference these points back to the chart and connect these points), then search for some price channel width that the line stayed within...or something like that. I'll give it some more thought. dh

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