marketsmith_pattern_recognition

Unverified Other strategy on Multi by HumanRupert. BotFinder score 18 out of 100.

Source code of the article Trading Cup and Handles With MarketSmith Pattern Recognition

Source: github

Explorer/Multi/marketsmith_pattern_recognition
18
Data index
MultiMedium risk⚠ Unverified

marketsmith_pattern_recognition

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Sharpe
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Win rate
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Track record
5.6y
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About

marketsmith_pattern_recognition

The Cup With Handle pattern, developed by William O’Neil, is a technical indicator for identifying the continuation of a trend after a period of consolidation. [1] It consists of an initial uptrend that’s ideally not too mature, a U-shaped move (cup), followed by another sharp and minor shake out (handle). The price, after a rally, starts to consolidate with a smooth slope but then bounces back to the previous highs as it faces support at lower price levels. When previous highs are touched, investors who bought shares before consolidation and other less committed investors sell their shares, pushing the price down for one last time. Eventually, the price reverses from a second support level (above the previous one) and breaks out of the resistance. Traders use different rules to identify Cup With Handle patterns and gauge their strength, but the base usually lasts 6–65 weeks with depths ranging from 8% to 50%. When trading Cup With Handles, the profit target is usually 20–25% above the initial resistance (pivot point), and the stop-loss range is 5–8% below that line. [2] Pattern Reco

Jupyter NotebookOpen-sourcechart-patternpattern-recognitiontradingtrading-algorithmstrading-strategies
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Source
HumanRupert
Since 2011 · 1 bots

Open-source maintainer on GitHub.

Trust 0Profile
Score & reliability18/100
Perf data0/35
Community0/25
Evidence8/20
Recency10/10
Verification0/10

Data-completeness & trust index (not a profitability rating)

Source facts
Stars38
Forks17
Open issues0
LanguageJupyter Notebook
License—
Last update2024-01-06
Created2021-03-21
Website
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marketsmith_pattern_recognition by HumanRupert — Unverified | BotFinder