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View Full Version : 'CandleStickPattern' missing many of the top performing patterns


Elliott Wave
06-01-2008, 12:15 PM
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 (http://thepatternsite.com/mybooks.html#BookEOCC)
of the top 10 performing candlestick patterns, these ones are currently absent from the indicator:

http://thepatternsite.com/images/ThreeLineStrikeBear.JPG
1. (best) Three line strike, bearish
Theory: Bearish continuation
Actual: Bullish reversal 84% of the time
Frequency rank: 94
Overall performance rank: 1 (best)

http://thepatternsite.com/images/ThreeLineStrikeBull.JPG
2. Three line strike, bullish
Theory: Bullish continuation
Actual: Bearish reversal 65% of the time
Frequency rank: 95
Overall performance rank: 2

http://thepatternsite.com/images/MatchLow.JPG
7. Matching low
Theory: Bullish reversal
Actual: Bearish continuation 61% of the time
Frequency rank: 58
Overall performance rank: 8

http://thepatternsite.com/images/AbandonBabyBull.JPG
8. Abandoned baby, bullish
Theory: Bullish reversal
Actual: Bullish reversal 70% of the time
Frequency rank: 92
Overall performance rank: 9

Elliott Wave
06-01-2008, 12:15 PM
http://thepatternsite.com/images/2BlackGap.JPG
9. Two black gapping
Theory: Bearish continuation
Actual: Bearish continuation 68% of the time
Frequency rank: 29
Overall performance rank: 10

http://thepatternsite.com/images/BreakawayBear.JPG
10. Breakaway, bearish
Theory: Bearish reversal
Actual: Bearish reversal 63% of the time
Frequency rank: 98
Overall performance rank: 11

http://thepatternsite.com/CandlePerformers.html

NinjaTrader_Josh
06-01-2008, 12:44 PM
Thanks for the info. We'll add it to the list of future considerations.

ctrlbrk
11-22-2008, 08:09 PM
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? :)