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PatternExplorer Review Video
Chart pattern recognition
PatternExplorer Review at a Glance
The PatternExplorer is a powerful set of tools for AmiBroker that comes with comfort and speed. Get new trading signals in no time! True chart analysis solution with outstanding features for trading successfully! Equipped with easily variable parameters and functions to display the information that is important to you. Visually inspect financial markets through sophisticated indicators and the power of the PatternExplorer scanner.
PatternExplorer Indicators can be inserted in three different ways:
Insert – Inserts selected indicator into new chart pane.
Insert command internally creates a copy of the original formula file and places such copy into hidden drag-drop folder so the original formula will not be affected by subsequent editing. Double-clicking on formula name is equivalent to choosing Insert command from the menu. These copies will not be updated automatically through the PatternExplorer setup. You need to Insert them again when you install a PatternExplorer update.
Insert Linked – Inserts selected indicator into new chart pane directly
Insert Linked command does not create any copy of the formula. Instead, it creates a new chart that directly links to the original formula. This way subsequent editing and/or overlaying other indicators will modify the original. Insert Linked makes it possible to update all your PatternExplorer indicators automatically through a PatternExplorer update.
Overlay – Overlay selected indicator onto selected chart pane.
Overlay command internally appends additional code to the formula used by the chart. If given chart was created using Insert Linked, PatternExplorer will modify original (linked) formula.
The vendor is using sometimes new features and functionality from AmiBroker software to further improve PatternExplorer which makes this AmiBroker add-ons necessary to update AmiBroker in order to use the latest updates. We always recommend using the latest AmiBroker release.
Features
Key Features of PatternExplorer:
- Triangles, wedges, channels
- 123 Pattern – double tops & bottoms
- Fibonacci and Gann levels
- Support and resistance
- Fractal analysis
- Performance charts
- Ichimoku price chart
- Alerts on indicator levels & signals
- Sector and industry market indicators
- Candlestick patterns
- Unique indicator signals
- Global market signals
- Rainbow charts
- Alerts on user-defined rules
- Guppy averages
- Schaff trend cycle
- Volatility exploration
- Trailing stop
- Entry and exit signals
- Pivot levels
- Deep signal insights
- Taio indicator
- Smoothed MACD
- Alerts on manually drawn lines
- Colored Taio price chart
- Scanners and explorers
- Trailing flip
Feature List
- PRICE CHART
- Price chart with more functionality than the default AmiBroker price chart
- Four moving average lines can quickly be displayed and additional averages can be added
- Multiple types of moving averages available:
- Gma, Sma, Ema, Wma, Dema, Tema. Wilders, LinearReg, TSF, Kama
- Multiple bands and channels: Bollinger, Keltner, Headley Acceleration, Price Channel
- Price styles: line, bar, candlestick, staircase, point & figure, Heikin Ashi and area
- Bar color can be controlled by either Close or indicator progress
- Colored ribbons on chart bottom for additional trading information
- Everything can be turned on with a simple mouse button click
- TRAILING STOP
- An easy to use a trailing stop. The trailing amount can be defined in percentage values, ATR or any other user-defined value
- Trailing levels are displayed for visual indication
- Audio and email alerts
- TRAILING FLIP
- Based simple trailing stops the trailing flip indicator simply flips from long to short whenever the trailing level is broken
- Can be used as the base for further trading strategies
- Audio and email alerts
- CHART PATTERN RECOGNITION
- Detects and draws the following chart patterns:
- Ascending, descending, symmetrical and expanding triangles.
- Uptrend and downtrend channels
- Rising and falling wedges
- Rectangles
- Draws parallel lines without a second peak or trough
- Different signals for potential entries: Breakout, confirmed support, confirmed resistance, price just above support, price just below resistance
- Calculates all lines on logarithmic scale
- Trend lines can either be calculated on the closing price or the high and low price
- Audio and email alerts
- Detects and draws the following chart patterns:
- 123 PATTERN – DOUBLE TOPS & BOTTOMS
- Detects and indicates the 123 pattern formation and the well-known double tops & bottoms
- Audio and email alerts
- FIBONACCI RECOGNITION
- Displays the well known Fibonacci retracement and extension lines
- Every level can be modified through the parameter window
- Add retracement or extension lines as desired
- Allows to find all markets with a 50% correction or whatever value you desire
- Gann levels may also be viewed simply by changing the parameters
- SUPPORT & RESISTANCE
- Draws 12 support & resistance lines based on peaks and troughs
- If the close is above support the line color will remain green. When the close goes below the recent support the line will automatically change to red indicating resistance.
- Support and resistance lines that are far away from current price may be hidden if desired
- All support & resistance lines are customizable as to colors & styles
- RAINBOW CHART
- Displays multiple moving averages
- 10 different moving average types
- Signals may be used at the points where all averages cross over each other
- Audio and email alerts
- GUPPY AVERAGES
- The indicator captures the inferred behavior of traders and investors by using two groups of averages. Uses factual repetition to identify points of agreement and disagreement
- which precede significant trend changes
- Basic signals at the points where all averages cross over each other included
- Audio and email alerts
- CANDLESTICK PATTERN RECOGNITION
- Detects & displays 17 different candlestick patterns
- Draws arrows for all buy & sell patterns without running a scan
- Draws support & resistance lines based on the last recent pattern
- Bullish patterns: Hammer, Inverted Hammer, Engulfing, Harami, Harami Cross, Doji Star, Piercing Line, Morning Star, Morning Doji Star
- Bearish patterns: Shooting Star, Hanging Man, Engulfing, Harami, Harami Cross, Doji Star, Dark Cloud Cover, Evening Star, Evening Doji Star
- Allows to select only certain patterns
- PIVOT POINTS
- Displays pivot points as areas and lines
- Three different types: Regular, Woodies, Woodies Fibonacci
- 15min, hourly, 4hour, daily and weekly pivot points
- Pivot point information can be displayed either horizontally or vertically=
- TAIO INDICATOR
- Displays overbought/oversold conditions, trading ranges and trends
- The basic method for using this indicator is:
- Oversold: -80 to – 100
- Overbought: 80 to 100
- Uptrend: > 50
- Trading range: +50 to -50
- Downtrend: < -50
- Multiple time frame support available for the time frame of your choice. This makes it possible to trade in the direction of the overall trend by viewing the short term and long term indicator at the same time
- Six different signals
- Audio and email alerts
- TAIO PRICE CHART
- Price chart with bar color based on the Taio indicator
- The same price chart can also be activated on all other PatternExplorer price charts
- Shows the trends easily by color changes
- PRICE CHART TS
- Displays shapes at different definable signals based on the Taio indicator
- Audio and email alerts
- ALERT TOOLS
- Easy to use: Simply draw a line, mark it as SU for support or RE for resistance to activate the alerts
- Three different alerts based on price, indicator or custom rules
- Exact alert levels displayed in the title area
- Maximum alert range adjustable in percent or points and visible through lines
- Audio and email alerts
- Different alert conditions possible:
- Define a range through the parameter window and get alerts when the close price is inside the range
- Get alerts when the close price breaks the support level
- Get alerts when the close price breaks the resistance level
- Define the range to zero to get alerts only when support or resistance is broken
- The range can be centered at the alert level but can also be defined to be only higher/lower as the alert level
- 55 different sounds
- FRACTALS
- Displays tops & valleys on the chart
- Shapes can be changed to squares or other shapes through the parameter window
- The smaller shapes are generated 2 bars after a top or bottom is detected.
- Fractals can be used to display potential support and resistance levels
- Scanning for entries at support and breakouts
- The shapes can be used for moving a trailing stop along previous support and resistance
- Useful to view and count waves
- The swing chart with the large shapes uses percentage change calculation to detect potential tops and valleys. There is a delay before these shapes are displayed, therefore backtests are not possible and only current (last recent bar) signals can be used for trading.
- Trend lines can either be based on the closing price or high and low price.
- Audio and email alerts
- PERFORMANCE CHART
- Shows the relative performance of four instruments and the selected market over the visible charting area
- The performance indicator always starts with 0% on the left side, even when the chart is zoomed or scrolled
- Detects possible winners and losers of the next rally at a very early stage
- Differences between indices and selected markets can be viewed quickly
- FOREX SPREAD ANALYSIS
- Can be used to select volatile and inexpensive pairs to keep trading cost low.
- Predefined spreads from FXCM. Spreads can easily be adjusted to the spreads of your broker
- SECTOR INDUSTRY TREND
- Builds an indicator based on multiple markets
- Displays the percentage ratio of bullish and bearish markets for each sector and industry
- Indicates the sector and industry trend hence increases your chances of a successful trade
- The red line represents the percentage of bears in the industry, the green line the percentage of bulls in the industry and the blue line the percentage of bulls in the sector
- SECTOR INDUSTRY RELATIVE STRENGTH
- Displays the relative strength of each sector and industry
- Enables you to know the trend of the sector and industry hence increases your chances of a successful trade
- MACD – MODIFIED
- The modified MACD indicator is very similar to the original one, however it is smoother but not slower and has less noise than the original MACD.
- Audio and email alerts
- SCHAFF TREND CYCLE
- This indicator can be used to spot the trend
- A second-time frame indicator allows using signals in the direction of the long-term trend
- ICHIMOKU CHART
- Displays the Ichimoku chart
- Buy and sell signals based on an Ichimoku strategy
- Audio and email alerts
- VOLATILITY EXPLORATION
- Find markets with your choice of volatility and with similar percentage changes over different time frames.
- This approach allows experienced traders to trade volatile markets and yet still allows inexperienced traders to select less volatile instruments
- DEFAULTS & MODS
- Programmers can extend and modify the PatternExplorer to their needs through code. This is optionally but gives a lot of additional powerful possibilities. It’s done through the files PE – Defaults & PE – Mods which are automatically processed in every indicator.
- Here are just a few examples:
- Set default colors & styles for many indicators
- Set alert sounds, default alert text and email alert text
- Set filter & buy, sell, short, cover rules. The default conditions can be replaced completely or just modified. Interested only in stocks with Volume > 1 Million? Just use def_Filter = Volume > 1000000; This simple condition assures that all tools use this filter
- Set filter & buy, sell, short, cover rules only for certain tools. This is almost as easy as the upper modification as every tool has a unique name.
- Overlay indicators to all or only certain tools
- Add additional columns or remove existing columns
Requirements
To run PatternExplorer with optimum reliability and performance, your system should match the following requirements:
System Requirements for Windows OS:
The software requires Amibroker 4.85 or higher in the 32-bit or 64-bit version and works under Windows 7, 8, 10
System Requirements for Mac OS:
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Download
Not sure if PatternExplorer does what you need? Try it out now. Please feel free to download PatternExplorer for Windows here. PatternExplorer for AmiBroker has been tested professionally and we are assured that no viruses, Trojans, adware or malware contained.
Testimonials
What their users are saying?
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PatternExplorer retails for $173.00 (EUR 149), But, on our website, The Software Shop, you can save on your purchase of its license key with50% a discount coupon code. This offer is available for a limited time!
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