symmetric triangles
Below are some examples demonstrating how to take advantage of this new feature using the StockFetcher text-based filtering:
In addition to simply detecting the patterns, StockFetcher also allows you to specify where the price is relation to the upper or lower triangle line. For example:
In the above examples, you will notice that there is a period specified in parens. This is the number of days used to create the triangle.
A second parameter may be used to specify a window of time from the most recent day backwards. It is during this window that the triangle pattern could possibly have been broken. The second parameter can be used to find cases where there has been a possible breakout from the triangle pattern. By default, this second value is 6 days.
Below is a sample chart demonstrating the ascending triangle pattern: