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Hello, Tomasz:
On 09-Feb-99, Tomasz Janeczko wrote:
> I am testing all routines on rather "normal" data (i.e. quite long
> histories) so I am not able to catch faulty behaviour occuring on
> "edge" conditions.
I was thinking yesterday of making up a test database full of weird histories,
just for this very reason. It saves searching for troublesome ones. ;^)
> There will be at least one more BETA release with more features
> implemented such as Guru commentary - you will love it :-).
Can you clue us in on what this is?
> When basic functions are done I will proceed with Candlestick pattern
> detection functions. This will be somewhat tricky (not from the
> programming point of view but conceptually).
Tell me about it! I don't envy you trying to implement candlestick analysis.
> The main problem is how program can decide if a candle is big enough
> to form Big White Candle or Big Black Candle?
Sticks are pretty relative, as you say: big? small? compared to what?
One of their strengths (and weaknesses) is that they are subjective. ;^)
> Steve Nison gives only qualitive descriptions of formations without
> mentioning exact quantitive measures :-(
Steve's books won't give much help for building a candlestick system, but
they do include some important comments about what makes a good signal.
These conditions *should* be included in AmiBroker.
The only book on computer analysis of Japanese candlesticks is the following:
"Trading Applications: Japanese Candlestick Charting",
by Wagner / Matheny
Publisher's Price: $59.50 (although you can buy it for about $40US)
ISBN#: 0-471-58728-1
Publisher: Wiley
Available in Hardcover. (285 pgs)
Date Published: 1993
By combining Western technical analysis, Japanese Candlestick analysis, and
computer-aided pattern recognition, Wagner and Matheny demonstrate practical
trading applications. They use extensive examples on how to apply candlestick
analysis to individual markets, and provide in-depth coverage on methods of
programming and computer technology necessary to recognize candlestick
patterns, using technical studies and indicators to filter these patterns.
Also, the use and development of artificial intelligence and neural networks
to combine technical studies and candlesticks into a computer-aided
synergistic approach to trading is explained.
Combines the expertise of a registered commodity broker and a systems analyst
to bring readers up to date on candlestick charting methods. Goes a step
beyond existing literature to discuss practical applications of this
technique and recommended strategies. Integrates candlestick charts with
Western technical indicators and trading methods such as stochastics,
Elliott Wave, moving averages and oscillators. Features significant
treatment of computer analysis of candlesticks.
I read this book about a year ago, and it has a study of the different
patterns, to give an idea of their accuracy in predicting successful trades
(sometimes, pretty low). Both Steve Nison's books and this one try to show
ways of improving your odds.
Is the MetaStock (or any other) manual a help?
There are only about 60 stick patterns, or so. How many will you implement?
---===///||| Donald Dalley |||\\\===---
The World of AmiBroker Support
http://webhome.idirect.com/~ddalley
Member: ICOA and Team AMIGA
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