The utility searches the price history for patterns similar to those in the intervals selected by the trader (there are several intervals, see the screenshot). The length of the pattern and the selected intervals is the same and is set by the number of bars. Similarity is evaluated by comparing the color of the bar bodies, the size of the bodies, and the shadows of the bars. For all found patterns, further price movement is visualized in the form of lines. The color of the lines determines the amount of similarity. The length of the movement is set by the number of bars. Pattern search and visualization is performed on any given bar. The numbering of bars is regular – from right to left from 0 (the last unclosed bar).
For the convenience of using the utility, there is a control panel on the chart.
- Seek patterns for bars – the length of the selected interval in bars used to search for matches (patterns);
- … start from these bars – numbers of bars for which patterns are searched. Set in a list, separated by a comma;
- Draw predicted bars – length of visualization of further price movement, in bars;
- Use History (bars) – the length of the history on which patterns are searched, in bars;
- Pattern force by bars color ( % ) – the similarity strength of the pattern by the color of the bar bodies, in % from 0 (do not check for similarity) to 100;
- Pattern force by bodies size ( % ) – the similarity strength of the pattern by body size, in % from 0 (do not check for similarity) to 100;
- Pattern force by shadows size ( % ) – the similarity strength of the pattern by shadow size, in % from 0 (do not check for similarity) to 100;
- Pattern Timeframe-search for patterns on bars of a given timeframe;
- Show cute panel – show the parameters control panel. If you change any of the values is searched and redrawing of patterns;
- Update pattern at every new bar-perform a new search and redraw patterns when a new bar appears.
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The smaller the length of the selected interval (Seek patterns for bars), the larger the force values should be. For example, in the screenshots, the length of the selected interval is 10 bars. Color strength 100%, body size strength 30%, shadow size strength 30%. If the length is set to 3 bars, the forces should be more than 80%.
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