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Detecting chart patterns

Chart patterns are of interest to traders who use technical analysis. NanoTrader automatically detects chart patterns. When a chart pattern is detected you can request to be notified by e-mail, sound or pop-up message.

The advantages of the chart patterns function in NanoTrader:

  • The chart patterns are ready-to-use.
  • The chart patterns are organised into categories (candlesticks, famous traders...).
  • The chart patterns are detected automatically.
  • An alarm (mail, pop-up, sound) notifies you when a pattern occurs.
  • The chart patterns can be used in screeners, trading signals and strategies.

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1. TRADER CHART PATTERNS

This category of chart patterns is based on patterns identified by well-known traders and technical analysts.

This example shows a Hammer Blast chart pattern on the airplane manufacturer Boeing. The Hammer Blast pattern was designed by technical analyst Stefan Salomon. It contains a hammer candle. The pattern has a good track record.

The Hammer Blast chart pattern (technical analysis).

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2. CANDLESTICK CHART PATTERNS

The patterns in this category are based on candlesticks. A wide variety of candlestick patterns exist. They should be used not in isolation but together with indicators and other technical analysis tools.

This example shows a Bullish Engulfing pattern occuring during a downtrend on the stock 3M.

Bullish engulfing candlestick pattern.

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The opinion of a NanoTrader user:

Every trader benefits from using NanoTrader.
W.L.

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