|
PureBytes Links
Trading Reference Links
|
Hi Ed,
>where I can get hold of the formula of C&H for MetaStock?
There is no such formula or indicator in MS :-(
Cup & Handle may be defined as a rounding bottom with a subsequent pullback to the 'rim' of the cup. Imho MetaStock is inherently unable to detect rounding patterns. It can detect - with restrictions - most patterns that spike, so to say; eg. spikes, double tops, head & shoulders (maybe). The reason is that all 'patterns' in MS are derived from the ZigZag function in one way or another.
It is a sad fact that classical programs cannot detect the simlest patterns that the primate eye+brain recognize at a glance. This is the reason why artificial intelligence has always aroused so much interest, pattern recognition being the biggest subject in neural nets.
So, in order to find them saucers or cups & maybe afterwards the enriching tea-melange using metastock the only way is visual chart inspection. A certain pre-selection is possible by looking for equities that are congesting and/or have a low value of ADX or some other trading/trending indicator.
Hope this helps & happy trading,
Jan Willem
At 14:14 03.10.2000 +0800, you wrote:
>Does any one knows where I can get hold of the formula of C&H for MetaStock?
>
>Thanks in advance.
>
>Ed
|