Stocks can move quickly, and you need a stock trading software that can keep up. Check out Benzinga's picks for your best options in 2021. Looking for Stock charting software? See an extensive list of charting software packages, Chart software for Macintosh, and plugin trading systems used by traders for the Technical Analysis and trading of Stocks & Options in the Stock Market, as well as Futures, Commodities and Forex (foreign currency exchange). See the main features of each with links to the vendor.
- Best Stock Charting Software With Candlestick Pattern Recognition Software
- Candlestick Stock Charts Free
Welcome to Scanstock.in guide
Step-by-step guide will show you how to analyze each emergent pattern manually and get a feeling of the reliability of its predictive power. Click '>' button or swipe left to proceed.Step 1 - Learn about 'Candlestick' Patterns
Click on the 'Candlesticks' Menu option under 'Varsity'. We highly recommend that you go through this section, if not already.Step 2 - Concepts on 'Candlestick' Patterns
This will provide you with basic knowledge about 'Candlesticks'. It is absolutely necessary before you move on.Checkout emerged Patterns
Now that you have basic knowledge on Candlestick Patterns, lets try it on some real patterns. Click on the 'Home' menu and view the latest emerged patterns.Step 3 - Verify the Candlestick Pattern
Assuming that the pattern emerged for the company you wish to track is in first row of the table, click on the '+' icon to expand and then click on the link provided over the pattern name.Step 4 - Information on the Pattern emerged
We recommend that you go through the documentation, especially the section on ‘Psychology’.Step 5 - Verify the Confirmation message
Now take a note of the ‘Confirmation’ message. We would need it at a later stage.Step 6 - Identify checkpoints
‘Checkpoints’ informations are of utmost importance in filtering out the most reliable signals. Take a note of them as well.Step 7 - Checkout Candlestick Chart
Click on ‘View’ button under ‘Chart’ column. This would show the candlestick chart for the last ten trading days.Step 8 - Analyse the Candlestick Chart
Click a candle to view price and volume information. Now review the checkpoints that you have taken a note one by one, from the information provided in the chart.Need Help?
In case you need any assistance while screening the patterns. Please reach us out by clicking the 'Contact Us' menu.Leave us a Message
Write to us if you face any difficulty and we would be more than happy to guide you.Benefits when you Register!
However, if you want us to do this screening for you, please 'Register'. To know what benefits you get when you register, click on the 'Why Register' icon. Thanks!Candlestick patterns can signal a trend continuation or reversal. Many traders and investors know how to benefit from candlesticks analysis. As a rule, a simple chart analysis is used that requires analysts to remember and correctly interpret, at least, typical candlestick patterns. However, the number of possible different candlestick shapes and their combinations in a row can be huge. Besides, some patterns interpretations might be considered as contradictory or doubtful.
Fortunately, statistical methods combined with computer power can be a good solution to make the candlestick patterns recognition works less time-consuming and more effective. These days, Neural Network (NN) can help to automate a candlestick patterns recognition task. NN should be properly trained in order to be able to predict the next candlestick parameters with the highest probability. One of the obvious problems of implementing a candlestick pattern NN predicting system is a formalization of inputs.
Numerous tests show many possibilities of improving NN candlestick patterns recognition systems. For example, output result can be composed from selected optimized calculations based on different historical periods. Also there are many different ways to formalize the shapes and relative positions of candlesticks. As well as, as back- and forward-testing show, it is reasonable to re-train NN for each particular type of shares and latest historical periods to make the forecast more accurate.
Optimal Solution. There is an automated tool FTA-2 (free use of fully-functional version for one month). It has module which enables using Neural Network to recognize typical candlestick patterns and predict future prices (open, high, low, close). This module predicts only one next candlestick but the prediction can be successfully used for different widths of candlestick, i.e., the number of trading days in one candlestick. The module has been enhanced to calculate result that is composed from different historical periods that allows making the forecast more accurate. Also it can perform comparative forecast analysis for many symbols.
Useful resources:
Best Stock Charting Software With Candlestick Pattern Recognition Software
Candlestick Stock Charts Free
- Candlestick basics – major signals
- Neural Network basics – introduction
- The computer program which enables using Neural Network to recognize typical candles patterns and predict future prices – software FTA-2