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'CandleStickPattern' missing many of the top performing patterns

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    'CandleStickPattern' missing many of the top performing patterns

    The CandleStickPattern indicator is really great and I was hoping it could be expanded to include more patterns, specifically 'top performing' ones.

    According to Bulkowski's book Encyclopedia of Candlestick Charts
    of the top 10 performing candlestick patterns, these ones are currently absent from the indicator:


    1. (best) Three line strike, bearish
    Theory: Bearish continuation
    Actual: Bullish reversal 84% of the time
    Frequency rank: 94
    Overall performance rank: 1 (best)


    2. Three line strike, bullish
    Theory: Bullish continuation
    Actual: Bearish reversal 65% of the time
    Frequency rank: 95
    Overall performance rank: 2


    7. Matching low
    Theory: Bullish reversal
    Actual: Bearish continuation 61% of the time
    Frequency rank: 58
    Overall performance rank: 8


    8. Abandoned baby, bullish
    Theory: Bullish reversal
    Actual: Bullish reversal 70% of the time
    Frequency rank: 92
    Overall performance rank: 9

    #2
    top performing patterns continued...


    9. Two black gapping
    Theory: Bearish continuation
    Actual: Bearish continuation 68% of the time
    Frequency rank: 29
    Overall performance rank: 10


    10. Breakaway, bearish
    Theory: Bearish reversal
    Actual: Bearish reversal 63% of the time
    Frequency rank: 98
    Overall performance rank: 11

    Article shows the top 10 candlesticks based on overall performance with links to performance statistics and descriptions, written by internationally known author and trader Thomas Bulkowski.
    Last edited by Elliott Wave; 06-01-2008, 12:21 PM.

    Comment


      #3
      Thanks for the info. We'll add it to the list of future considerations.
      Josh P.NinjaTrader Customer Service

      Comment


        #4
        Elliott Wave, I was hoping perhaps you had a chance to add the top 1 or 2 patterns to the indicator yourself by now, since you are such a good programmer?

        Also, I am trying to find a 3 bar reversal indicator, got one by chance?

        Comment

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