StockFetcher Forums · Indicators and Measures · Triangle Patterns<< >>Post Follow-up
980 posts
msg #34502
12/23/2004 2:38:50 PM

Triangle Patterns

Description StockFetcher now has the ability to detect triangle patterns. We currently support:

  • ascending triangles
  • descending triangles
  • symmetric triangles

    Below are some examples demonstrating how to take advantage of this new feature using the StockFetcher text-based filtering:

    Fetcher[show stocks where pattern is ascending triangle]

    Fetcher[show stocks where pattern is descending triangle(45)]

    Fetcher[show stocks where pattern is symmetric triangle(55,10)]

    p>In addition to simply detecting the patterns, StockFetcher also allows you to specify where the price is relation to the upper or lower triangle line. For example:
    Fetcher[show stocks where the close is above the upper ascending triangle(55)]

    Fetcher[show stocks where the close is below the lower descending triangle(55)]

    In the above examples, you will notice that there is a period specified in parens. This is the number of days used to create the triangle.

    A second parameter may be used to specify a window of time from the most recent day backwards. It is during this window that the triangle pattern could possibly have been broken. The second parameter can be used to find cases where there has been a possible breakout from the triangle pattern. By default, this second value is 6 days.

    Below is a sample chart demonstrating the ascending triangle pattern:

    Note: There is currently a limitation on this pattern in conjunction with back-testing. It is possible a back-tested filter will not plot the actual triangle lines.

    This limitation also applies to users evaluating StockFetcher. Due to the offset in the evaluation mode, the triangle pattern may not always be on your charts.

  • StockFetcher Forums · Indicators and Measures · Triangle Patterns<< >>Post Follow-up

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