I get it but who cares. I revised my post because the point isn't about wikipedia it's that chasing logic on a chart is circular. The premise and conclusion will always be subjective. We can't predict the the future of a random process. We can trade it but we can't predict it. And I'm far from being intellectually challenged but can be very sarcastic.
Yepso, I understand your position. The markets are totally random but the way we view their movement doesn't have to be. My charts are cyclic like everyone else's but my cycles aren't created using random time based charts. Logic is anything but subjective. The problem is you can't successfully apply logic to time based charts, the outcome in that environment WILL be subjective because it destroys the usefulness and value of the logic. I also fully agree with you that it is impossible to predict price targets but with my charting I can read direction and strength in real time. I too am sarcastic but am always open to share my research with anyone that isn't commercially based and that is comfortable with validating things for themselves.
renko charts provide clear trend vision , you could make bricks first and work with them instead of a bunch of quotes http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:renko
I've never knocked your method, myself I use discrete-timing. My only point was to the thread starter that he was heading down a long and loney road trying to find a finite system in a random process. My mistake was not being more to the point. I also understand it's only my view and not shared by the majority. Anyone I've offended should just take it for what it is, another viewpoint in a complex market structure.
Renko charts are just range bar charts using filled or hollow blocks instead of bars, lines or candlesticks. Trends still need a specific definition in order to be useful.
I know you were knocking anything. I agree that it is a long and loney road doing price research especially trying to get positive reflections on this site. There are lots of ways to profit from the price action in these markets and we are all looking for something that is consistent.
Some fantastic reponses here. Thanks to everyone who has chipped in. The reason I want to do this is two fold: 1) I want to learn how to analyze charts and I think it will be most useful if I can tie it into my other passion, which is writing software. 2) This is a cool project and being a hobby one I'm happy if I end up wasting my time. I think it will still look good on my resume and it lets me learn many-many things like concepts of AI and Python. It will be fanstastic if you can share some advice on certain stuff with me. I know I will run into many issues. I don't want to build a perfect system. I just want something that would have same knowledge as me and suggest on those basis. Again this is not commercial . I looked at autochartist.com and I wanted to build something similar. It has given good ideas to me that I plan to build upon. Please do share any feedback you have on autochartist. AFAIK, technical analysis applies to any market driven by laws of supply and demand. But I'm just going to be interested in equity. Thanks yepso for posting. I understand what you mean, but as I outlined, building a perfect model is not my call. I just want something that can look at a chart and say here is what I feel are certain patterns (completed and emerging). Look at autochartist.com their product seems to be similar as to what I had in mind. I may not go far with this but I will certainly learn a lot about trading and software in the process. This in itself makes it worthwhile for me. Thank you.
I understand the reason for the thread now. Good luck on your site and trying to find a consistent definition of trend in the FOREX markets.
I understand that the question I asked was vague and not an easy one to answer. I think it's best for me to stick on to advice on stockcharts.com and build on that as I learn more. Do you guys have any recommendations for books/websites that I should be looking at? I know it must be a FAQ for this site. Thanks.
See attached for a first look at annotating using geometry and linear relationships. It is all easily codable and very productive for making money continually. NB There is a typo on the illustration "satest" should be "fastest". sorry.