Is there any indicators library or strategies that has capability of determining the classic trading patterns such as :
Bottom Triangle (BT)
Descending triangle
Continuation of the Wedge
Diamond pattern
Megaphone top
pennant
etc.

Any help, guidance is appreciated. Thanks.

Symmetrical triangle (Strategy code HERE)
H&S top (which are easy to invert)
Cup & handle, Semi-cup
Rectangle
M Top and W Bottom
Wyckoff spring and Wyckoff Upthrust

Thank you Eugene for information. Are you aware of any third-party vendor offering pattern recognization library for WL?
The Fidelity.com has 'Recognia' offering pattern recognization in their charting/Stock screener, is it a way to access that from WL for the fidelity customers? As the fidelity.com charting is manual one symbol at a time.
Thank you.

Sorry, no idea.

Has anybody programmed some of the patterns such as "pipe bottom" and "high and tight flag" that Bulkowski mentions on his blog.
My search here did not turn anything up

Thanks

1. Pipe bottoms remind me of bullish piercing line. Here's something to start with your pipe bottoms coding: WealthScript Programming Guide > WealthLab.Rules Classes > Candlesticks > Bullish > CandlePattern.BullishPiercingLine.

2. As per this IBD booklet, "High and Tight Flags" seem to be tight rectangular consolidations after a rapid advance. This can be coded in a multitude of ways. Two examples to help get you going (just add a condition for rapid advance which should be easy):

Rectange trading system (Acme R)
Breakout from Flat

Let's keep this thread a one-stop shop for helping to find pattern links without any tehcnical and/or coding questions etc. (which can be asked in new threads).

Thanks Eugene

Appreciate the help once again

Is there anyone with experience in building a chart pattern recognition library?

That would be an interesting project. I coded the semi-cup pattern for the Wealth-Lab Traders' Tip for the April 2011 issue of TASC. The approach used in 1) detecting the pattern, which is based on the magazine article's content, and, 2) classifying the pattern as an object, is imho, a good basis to start a library.

The detection approach essentially identifies where price is present (and missing) in a pattern of "squares" in a chart. With various patterns defined, the library would search for the pattern in the prices, and when found the object could be classified.

Yes, that would be great! As there are multiple patterns with different levels of conviction in a chart on several timescales, the return object would be quite complex.

What type of algorithms would you use?

In the OpenCV library, there are pattern recognition and feature detection algorithms for computer vision application that might be useful.

Do you think such an approach would make sense?

Good points. I'd agree that a home-grown solution would probably have too many limitations. so something like OpenCV might be a good direction to investigate. That said, I don't have any insight for you how to incorporate a project like that, or even if it has a C# wrapper. Again, this would be an interesting project, but probably one that would take a dedicated effort and would require more time than I would be able to afford at this time.

Hi Cone,

Just for your information, there is a C# wrapper for this library (https://github.com/shimat/opencvsharp or see http://www.emgu.com/wiki/index.php/Main_Page).

pschwen is not the only one who is interested in this type of extension. So this project will be for several WL customers ;-)