Chapter 5

What the columns in the results view mean



The results view shows basic information about patterns. The Exchange and Symbol columns are self-explanatory.

The direction column has no heading – it is the thin column that contains the red , green and grey up and down arrows. The arrows indicate the expected direction of price movement, i.e. in which direction the price has to go to reach the target level. Emerging patterns have arrows that show direction… but they are coloured grey.

The time granularity of the graph is indicated by the interval column. This means what the length of one candle is in the graph.



A descriptive name for the pattern as it usually appears in charting literature is given in the pattern column, together with an icon that shows for your convenience whether it is a chart pattern, Fibonacci pattern or key level.


The next column shows the time when the pattern was identified. It is the same time that is indicated by the vertical grey dotted line on the pattern images.


Pattern type distinguishes between emerging and complete chart- and Fibonacci patterns, and between approaching and breakout key levels.

The length of a pattern is the number of bars or candles in the price graph over which the pattern spans. Note that this cannot always be directly translated into hours and minutes, as exchange closing times (weekends and evenings) are ignored.


As new candles are added to the price chart during trading hours, the pattern will age. But because not all patterns have the same time granularities, they age at different rates. The age of a pattern is represented in this column as the number of bars that formed after the pattern was identified. This is the column by which results are sorted by default, because it is important for traders to have the most relevant and best tradable opportunities. Older patterns go stale and eventually they won’t be valid trade opportunities anymore.

For a more in-depth discussion on the age of patterns and using this as a main sorting criterion,
see here
.

Also note that the Expired Trading Opportunities tab does not have an age column, because after a pattern expires its age is no more relevant than the time it was identified.
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