The "Completed Patterns - Chart Patterns" section in the Scanner module focuses on providing a detailed statistical analysis of various chart patterns identified during backtesting. This section offers traders comprehensive insights into the performance and characteristics of these patterns based on historical data, helping them to make informed trading decisions.
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Patterns Statistical Analysis
This is the core component of the "Completed Patterns - Chart Patterns" section, where in-depth analysis of each chart pattern is provided. The statistical analysis includes:
- Patterns Table: Lists all the identified patterns along with their win rates, rankings, and the number of times each pattern was found.
- Behavior and Rank: Offers insights into the frequency, overall performance, and behavioral characteristics of each pattern.
- Size Statistics: Analyzes the impact of pattern size on performance, including metrics like height, width, and length of the patterns.
- Volume Statistics: Examines the volume characteristics associated with each pattern, such as rising or falling volume performance.
- General Statistics: Provides an overview of the number of patterns found, rate of change performance, average price movement, and the number of bars to reach ultimate highs or lows.
- Performance Indicators: Includes various performance metrics like closing price confirmation, candle color confirmation, and breakout performance relative to moving averages.
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By leveraging the statistical methodologies and definitions from Thomas N. Bulkowski’s "Encyclopedia of Chart Patterns," this section equips traders with valuable data to assess the reliability and effectiveness of different chart patterns in their trading strategies.