Pattern Scan Report
Pattern scan report run all patterns in your data series and creates a report in the end which shows the following:
- How many times a pattern occurred in your data. So, let’s say you have data for x time periods, out of those period a specific pattern occurred y times.
- Pattern Frequency %: Times a pattern occurred/Total Time periods (note this % will not total to 100% because it’s a % of the time periods and not the % distribution of various patters)
- Periods Price Increased: Number of times (of total frequency) the price increased in the next period.
- By what % the prices increased in the new period
- Periods Price Decreased: Number of times (of total frequency) the price decreased in the next period.
- By what % the prices decreased in the new period
About 15 time periods are ignored for calculation purposes.
Please note that the periods here can be anything like seconds, minutes, 5 minutes, days etc. So, if you are using MarketXLS for day trading support you will be able to identify key patterns in candlesticks you want to look for. You can simply sort this table frequency and then filter out the ones with price decrease to shortlist the pattern which occur frequently in a data series with a price increase. This is just one example on how this can be used.
Historical data/patterns is no guarantee for future occurrences and similar results, so use your judgement while making your decisions as you are solely responsible for them. Read our terms and conditions.