I will try to make it short: 10 years ago I used to use a fantastic pattern creation software, "Pattern Smasher" from Kasanjian Research. Worked only with EOD data. The great thing was you didn't need to know anything in programming, you could just build your pattern by designing your own swings, setting the ratios between swings, etc. The software would highlight on the chart all similar patterns he had found for a specific symbol, or do a scan on all symbols. My question: does a similar application exist for real time Charting? I haven't found any after thorough search! Thanks for any help.
You could use tc2000 with your scan criteria for US stocks and that works also real-time but do you know the criteria that work best , Some programs I used in the past for pattern matching did a poor job because the matching was vague. I am not sure how they decide what is similar. That can hold a lot of water based on the assumptions. Is a tall ugly woman similar to a tall beautiful woman? It depends how you define similar. Unless a pattern can be strictly defined in a non ambiguous way with math without any assumptions or fitting parameters, then the results may be useless. For EOD I think price action lab does a great job scanning historical data for patterns up to 6 bars but I know of no other scanner that can do that real-time because it may be too slow. The thing is that it will not only identify the pattern but also the rule that works best based on your performance criteria. But beware that there are selection bias issues with such programs.
Thank you very much for your answer. I checked TC2000 web application "free stockcharts.com" but their scanning features are limited to fundamental or technical conditions, not pattern/chart conditions. As for Price Action Lab, it looks great but seems to be working only on EOD, at least for scanning (and their price is ugly...)
you try them all? fxgroundworks.com, motivewave.com, autochartist.com, harmonicanalyzer.com, Ensign, Wave59, Neo Ticker.