Pattern recognition ?

So we wonder what could break the Nifty to 3200 Levels, well one candidate is SBI, possible forming an H&S, if clicks, could show sub 800 levels & cause heavy damage in Nifty index...

To confirm a H&S pattern as a potential one, volume under left shoulder and the head play vital role.
could u please post the chart with volume.

now a days we should check both cash & futures charts for patterns & volume indication...

What say you - am I dreaming?

-- Milind

Attached Images

NF 15m Oct 7.png (34.0 KB, 41 views)

I feel Milind U r right on track... It always pays to dream with eyes wide open !!!

Now the blast off! Hopefully it sustains.

EDIT: 3:45pm - Well it did not!

Updating the stop to 1400 for SBI short...

Covered at 1320 SBI

Hello,
I am trying to find software that will allow me to scan for 6 triangle patterns. I have looked at Patternz but it wasn't what I was looking for. Does anyone know of any pattern recognition software they feel is excellent because they are using it or a friend is? I am using Amibroker as my software. Thank you.

Best regards,


Tim

Description:

Paste the code in Automatic Analysis and Explore All Stocks for the last date of your data.
In Results click twice a label , for example "a TR" and you will collect all ascending Triangles marked with an "1".
This Exploration recognizes the following patterns:
+Ascending Wedges "aW"
+Descending Wedges "dW"
+ ascending Triangles "a TR"
+descending Triangles "d TR"
+ascending channel "a ll"
+descending channel "d ll"
+almost horizontal channel "ll"
+Converging Support and Resistance
+Diverging Support and Resistance
+N/A, ie examples not belonging to any above category.
You may decrease sensitivity, changing
per=3;
with another percentage higher than 3.
For Indicator Builder paste the code in Comments.

copy pest following in formula editor of amibroker

/*Pattern Recognition Exploration
by Dimitris Tsokakis*/
x = cum(1);
per = 3;
s1=l;
s11=h;
pS = troughBars( s1, per, 1 ) == 0;
endt= lastvalue(ValueWhen( pS, x, 1 ));
startt=lastvalue(ValueWhen( pS, x, 2 ));
dtS =endt-startt;
endS = lastvalue(ValueWhen( pS, s1, 1 ) );
startS = lastvalue( ValueWhen( pS, s1, 2 ));
aS = (endS-startS)/dtS;
pR = PEAKBars( s11, per, 1 ) == 0;
endt1= lastvalue(ValueWhen( pR, x, 1 ));
startt1=lastvalue(ValueWhen( pR, x, 2 ));
dtR =endt1-startt1;
endR = lastvalue(ValueWhen( pR, s11, 1 ) );
startR = lastvalue( ValueWhen( pR, s11, 2 ));
aR = (endR-startR)/dtR;
filter=1;
numcolumns=12;
column0=aS;
column1=aR;
column0name="aSup";
column1name="aRes";
column2=ar>0 and as>3*ar;
column2name="a W";
column2format=1.0;
column3=ar<3*as and as<0;
column3name="d W";
column3format=1.0;
column4=abs(aR)<0.002 and aS>0;
column4name="a TR";
column4format=1.0;
column5=abs(aS)<0.002 and ar<0;
column5name="d TR";
column5format=1.0;
column6=abs(aR-aS)<0.1*aS;
column6name="a ll";
column6format=1.0;
column7=abs(aR-aS)<0.1*abs(aR) and aR<0;
column7name="d ll";
column7format=1.0;
column8=abs(aR-aS)<0.1*abs(aR) and abs(aR)<0.01;
column8name=" ll ";
column8format=1.0;
column9=aR<0 and aS>0;
column9name="Converging";
column9format=1.0;
column10=aR>0 and aS<0;
column10name="Diverging";
column10format=1.0;
column11=column2==0 and column3==0 and column4==0 and
column5==0 and column6==0 and column7==0 and column8==0
and column9==0 and column10==0;
COLUMN11NAME="N/A";
COLUMN11FORMAT=1.0;

p.s. i dont use it pattrns and dont scan stocks but thought it will be useful for some one
also post ur qs. on amibroker afl thread u wil get quick answers.
best luck
Alex