Are there any pre-canned scripts for P&F pattern detection? Is there a way to script for creating a matrix of horizontal and vertical targets for a watchlist? If no to these questions, are they in the works?
Many thanks!
Hey André,
There is a PFSCAN() function for breakouts and breakdowns, but I’ve never really got it to work very well with the default box sizes. We very rarely get asked about P&F charts any more so we don’t have any plans on adding anything else, but if you post on the Feature Request forum then it may be considered for a future update.
Hi Darren,
I have been using P&F scans for a while now and have incorporated the scan into my system. I would hate to see it downgraded. Using the available tool I have found that P&F breakouts often precede a price breakout and also entry signs indicated by other tools.
I think box size is a problem though because the tool cannot pre-empt the optimal box size for the signal. So, on a daily system, I use a weekly BO on the P&F scan which gives me a useful watchlist.
Cheers Darren.
Thanks Bill. Yes good point re the box sizes. Don’t worry the function won’t be downgraded, but we wont be making any improvements unless we get a lot of demand to cover the development costs.