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If we speak for automatic channel recognition, you may see
http://www.amibroker.com/library/detail.php?id=105
and find out
+ascending channel "a ll"
+descending channel "d ll"
+almost horizontal channel "ll"
among the others.
Of course you will not have an automatic "parallel" channel everyday,
it is rather hard to have similar slopes.
Now, if an automatic parallel channel is N/A, you may define a
parallel channel if you
*preserve the automatic support and draw a parallel resistance from a
High point
*preserve the automatic resistance and draw a parallel support from a
Low point
I find quite reasonable to draw the artificial parallel from the
HighestBetween/LowestBetween point.
The support will be automatic [defined by the two yellow Lows] and
the resistance will be the [orange] parallel
drawn from the HighestBetween [orange] point.[this will be the first
alternative]
The resistance will be automatic [defined by the two yellow Highs]
and the support will be the [orange] parallel
drawn from the LowestBetween [orange] point.[this will be the 2nd
alternative]
See them both at the above address, last added comment
[I think per=5 gives, for QQQ, your request]
--- In amibroker@xxxxxxxxxxxxxxx, "Phsst" <phsst@xxxx> wrote:
> Dimitris,
>
> Pardon me for trying to hijack your considerable talents
from 'other'
> current interests...
>
> But I know that your strengths are in the following areas:
>
> 1. Pattern recognization
> 2. ^NDX technical analysis
>
> Take a look at the 9/30/03 QQQ EOD chart and you will see an almost
> perfect 'uptrend channel' SUPPORT setup consisting of the following
> attributes:
>
> * Draw a lower trendline beginning on 3/12/03 @ 24.23 (close).
> * Continue the trendline thru 8/8 and 8/11 lows.
> * And conclude the trendline thru todays (9/30/03) lows.
>
> WHAT a nice SUPPORT line, huh?
>
> THEN...
>
> * Draw an Upper trendline beginning on 3/21/03 @ 27.38 high.
> * Continue an EXTENDED trendline thru 6/6/03 HIGH and thru 7/9/03
> close of 32.20 to present
>
> WHAT a nice CHANNEL, huh?
>
> I am trying to figure out how to code a pattern recognization system
> that would trigger a QQQ 'support' signal either yesterday or today
in
> order to 'trade the channel'.
>
> This channel is clearly 'uptrending'... but a robust 'channel'
> recognization sytem would pick up on 'horizontal' channels as well
as
> 'downtrending' channels, with the objective being to identify
> support/resistance using channels.
>
> Do you have any ideas on how to code a pattern recognition system
to
> signal either 'upper', 'lower' or horizontal channel
> support/resistance signals over a three to six month period?
>
> While I'll continue to work on it myself, I figured that you might
be
> interested in taking a look at the problem.
>
> (One troubling aspect of the current 'support' level is that volume
is
> rising when I'd prefer to see it declining.)
>
> Regards,
>
> Phsst
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