5 Best Candlestick & Chart Pattern Recognition Software 2024

The 5 Best Apps for Recognizing, Analyzing & Predicting Chart Patterns

Our 20-point test reveals the best stock chart candlestick pattern recognition software are TrendSpider, TradingView, and Finviz.

After undergoing rigorous testing, our selected software has proven its ability to surpass human capabilities in identifying and analyzing chart patterns, trendlines, and candlestick patterns.

Liberated Stock Trader Review & Test Award: Best of 2024.

5 Best Candlestick Pattern Recognition Software

  1. TrendSpider: Winner Best Pattern Recognition Software
  2. TradingView: Best Free Candlestick Pattern Analysis Software
  3. Finviz: Best Free Stock Chart Pattern Scanning
  4. Tickeron: AI Stock Chart Pattern Recognition
  5. MetaStock: Best Candlestick Pattern Trading Tool

Candlestick & Chart Pattern Recognition Software Comparison

Pattern Recognition Software TrendSpider TradingView Finviz
Rating5 Best Candlestick & Chart Pattern Recognition Software 2024 - 37 4.9 4.6 4.4
Price/m5 Best Candlestick & Chart Pattern Recognition Software 2024 - 38 $74 $0-$59 $0-39
# Candle Patterns Recognized 150 40 11
# Chart Patterns Recognized 18 10 12
Trendline Recognition
Backtesting Patterns5 Best Candlestick & Chart Pattern Recognition Software 2024 - 39
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Best Candlestick & Chart Pattern Recognition Software
Best Candlestick & Chart Pattern Recognition Software

Candlestick & Pattern Recognition Software Summary

TrendSpider offers excellent automated trend, chart, and candlestick pattern recognition in multiple timeframes. TradingView has the best free candlestick stock chart recognition globally. MetaStock offers a powerful candlestick trading system with win/loss probabilities.

Pattern Recognition Software TrendSpider TradingView Finviz Tickeron MetaStock
Rating5 Best Candlestick & Chart Pattern Recognition Software 2024 - 37 4.9 4.6 4.4 4.4 4.1
Free
Price/m5 Best Candlestick & Chart Pattern Recognition Software 2024 - 38 $74 $0-$59 $0-$39.50 $0-$250 $59-$250
Exchanges USA Global USA USA Global
Fundamental Screening5 Best Candlestick & Chart Pattern Recognition Software 2024 - 42
Trading Community5 Best Candlestick & Chart Pattern Recognition Software 2024 - 43
Automated Trendlines5 Best Candlestick & Chart Pattern Recognition Software 2024 - 44
Multi Timeframe Analysis
Candlestick Pattern Recognition5 Best Candlestick & Chart Pattern Recognition Software 2024 - 45
Market Scanning5 Best Candlestick & Chart Pattern Recognition Software 2024 - 42
Backtesting5 Best Candlestick & Chart Pattern Recognition Software 2024 - 39
Patterns Recognized 150 44 40 40 56
News Feed5 Best Candlestick & Chart Pattern Recognition Software 2024 - 48
Real-Time News Feed
Visit TrendSpider TradingView Finviz Tickeron MetaStock

What is Chart Pattern Recognition Software?

Automatic pattern recognition software uses algorithms to detect patterns in numbers. Japanese candlestick patterns are particularly difficult to spot; our five highlighted automated pattern recognition platforms perform this task better than humans and are available to retail investors.

Japanese candlestick charting theory attempts to predict the future price moves of assets by interpreting the supply and demand in the market. Hundreds of candlestick patterns are difficult to learn and identify, so pattern recognition algorithms are important.

Pattern Recognition Software Reviews & Testing

1. TrendSpider: Winner Best Pattern Recognition Software

TrendSpider wins because it provides automated candlestick patterns, chart patterns, and Fibonacci recognition. Plus, you can backtest and trade these patterns with automated bots and broker integration.

TrendSpider instantaneously detects stock chart support and resistance trendlines, 150 candlesticks, and Fibonacci numbers on multiple timeframes. Its automation allows automated market scanning, news scanning, and financial and technical screening across entire exchanges.

TrendSpider Features

⚡ Features5 Best Candlestick & Chart Pattern Recognition Software 2024 - 49 Charts, Screening, Multi-timeframe Analysis
🏆 Unique Features5 Best Candlestick & Chart Pattern Recognition Software 2024 - 50 Candlestick, Trendline & Fibonacci Pattern Recognition
🎯 Best for Stock, Fx & Crypto Traders
♲ Subscription Monthly, Yearly
💰 Price $149/m or $74/m annually
💻 OS Web Browser
🎮 Trial
✂ Discount 30% Off Monthly Plan Code "LST30"
63% Off an Annual Plan (No Code Required)
🌎 Region USA
We independently research and recommend the best products. We also work with partners to negotiate discounts for you and may earn a small fee through our links.
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TrendSpider – Winner for Innovation, Pattern Recognition & Use of AI

Pros

  • Automated Candlestick, Chart Pattern & Trendline Recognition
  • The Best Backtesting & Strategy Development
  • 150+ Different Candlestick Patterns Recognized
  • 220+ Charts & Indicators
  • Multi-Timeframe Analysis
  • Real-time Exchange Data Included in Price
  • Stocks, ETFs, Forex, Crypto, Indices & Futures
  • Seasonality Charts
  • News & Analyst Ratings Change Scanning
  • In-Person 1-on-1 Training Included

Cons

  • No Social Community
  • Not for Long-term Buy & Hold Investors
TrendSpider has radically simplified its pricing model for 2024. There is only one plan, and it includes everything: real-time data, futures, AI-powered pattern recognition, backtesting, news, options, crypto, futures, and even automated bot trading with broker integration!
  • The standard price is $199 per month. The best deal is opting for an annual prepaid plan, which offers a 63% discount, equating to $74.40 per month.
  • If you prefer to pay monthly, the price is $199, and adding code LST30 during checkout will save 30%, meaning the monthly plan costs  $139.
TrendSpider Pricing Monthly Subscription Annual Subscription
Standard Price $199 $199
Discount 30% With Code LST30 63%
Discount Price/mo $139 $74.40

TrendSpider’s most powerful features are automated candlesticktrendline, and chart pattern recognitionPoint-and-click backtesting and strategy development automatically plot buy and sell signals onto the chart. TrendSpider can even scan and backtest financial newsanalyst estimatesrating changes, and insider trading.

Key TrendSpider features in one screenshot: Backtesting, Screening for price, indicators, news, analyst ratings, seasonality, and insider trading.
Key TrendSpider features in one screenshot: Backtesting, Screening for price, indicators, news, analyst ratings, seasonality, and insider trading.

✂ TrendSpider Presidents Day Sale is Live Now ✂
☆ 67% Off Yearly Plans ☆
☆42% Off Monthly Plans ☆
It's their biggest sale of the year.

Real-time Candlestick Charts Pattern Recognition

TrendSpider’s real-time candlestick charts tool recognizes 150+ patterns, which can be used for backtesting and auto-trading with Bots.

Trendspider is designed to do the hard work for you, but what makes it special is that it can detect these patterns automatically and on multiple timeframes, on intra-day or daily/weekly charts.

TrendSpider shows you candlestick patterns by highlighting the pattern with a description on a chart. Select Patterns -> All Patterns -> Candlesticks.

The Most Intelligent Candlestick Pattern Recognition On Multiple Timeframes With TrendSpider
The Most Intelligent Candlestick Pattern Recognition On Multiple Timeframes With TrendSpider

These are enough to start with and are very powerful candlestick reversal signs. On the chart above, you can see the annotated candlestick Pattern DJ for Doji, etc.

You can see the patterns recognized on a weekly chart versus the daily Candlestick patterns in the image above. Of course, TrendSpider allows you to change the timeframes to 1 minute versus 1 hour or any other combination if you prefer to trade in short timeframes.

You do not need to spend months learning every pattern or spending hours on a chart to locate the patterns; it is all seamlessly done for you.

Trendline Pattern Recognition With TrendSpider.

TrendSpider’s automated trendline detection and plotting do a better job than a human can; using algorithms, the system can detect thousands of trendlines and flag the most important ones with the highest backtested probability of success.

Multi-time-frame analysis means viewing multiple timeframe charts on a single chart with the trendlines plotted automatically. Another great feature is the advanced plotting of support and resistance lines into a subtlely integrated chart heatmap.

Packed full of innovative technical analysis tools, TrendSpider is catapulted to the top of this list. If you are a serious market analyst, TrendSpider will help you do the job quicker, with better quality, and not miss an opportunity.

Finally, Raindrop Charts are a unique and intuitive way to visualize volume profile or volume at price action.

Get TrendSpider Working for You

Stock Systems and Backtesting.

Integrated backtesting of automated trendlines, showing win rate, profitability, and drawdown, are welcome new additions. The team is finally propelling TrendSpider into one of the leading technical analysis packages in the industry.

TrendSpider’s innovations mean you will need a little time to understand what they tell you. For example, seeing hourly, daily, and weekly trend lines plotted on the same chart might be confusing initially. Still, after applying a little effort, you might find you cannot live without them—an excellent score on usability.

TrendSpider Market Scanner

TrendSpider is developing new features at breakneck speed, but this one is big. The latest innovation from the TrendSpider team is the Market Scanner. This lets you scan the entire market for shares matching your technical criteria. This is a significant step forward, combining AI trend detection and analysis with the ability to scan the whole stock market.

How to Scan & Backtest Stock Chart Patterns With TrendSpider
How to Scan & Backtest Stock Chart Patterns With TrendSpider

The market scanner lets you scan the Nasdaq 100 for a double-top stock chart pattern, Doji candlestick pattern, or any mix of multiple patterns. The market scanner is a very powerful feature.


2. TradingView: Best Free Candlestick Pattern Analysis Software

TradingView offers automated candlestick chart recognition for 39 patterns for free. The candlestick pattern recognition works globally on stocks, ETFs, Forex, and cryptocurrencies. TradingView has the largest trading community and powerful backtesting, a perfect combination.

TradingView Review: Key Features

⚡ Features5 Best Candlestick & Chart Pattern Recognition Software 2024 - 49 Charts, Screening, Backtesting, Community
🏆 Unique Features5 Best Candlestick & Chart Pattern Recognition Software 2024 - 50 48 Candlestick Patterns Recognized for Free
🎯 Best for Stock, Fx & Crypto Traders
♲ Subscription Monthly, Yearly
💰 Price $0-$59/mo
🆓 Free Launch TradingView For Free
💻 OS Web Browser
🎮 Trial Free 30-Day
✂ Discount -25% Discount Available
🌎 Region Global
Liberated Stock Trader Review Winner
TradingView Excellent Candlestick Pattern Recognition

Pros

  • The Best Trading Community
  • 48 Candlestick Patterns Recognized
  • Easy to use, perfect for beginners
  • Excellent Charting & Analysis Tools
  • Candlestick Analysis on Cryptocurrency & Forex, USA & Globally
  • Good Stock Screening

Cons

  • No Real-time News

I love TradingView and use it every single day. I regularly post charts, ideas, and analyses and chat with other traders. You can have TradingView for free, and it is a review winner for our Best Free Charting Software Review. However, there are limitations. I recommend going for the PRO+ at $19 per month or the Premium at $39 per month; the benefits are extensive, including priority customer support.

Also, a huge benefit is that the data speed and coverage are mind-blowing, covering literally every stock market on the planet and not just stocks but ETFs0, mutual funds, futures, forex, bonds & cryptocurrencies AT NO EXTRA COST.

Video: How to Use Candlestick Recognition with TradingView

Candlestick Pattern Recognition With TradingView.

TradingView has introduced candlestick pattern recognition as a core component of the platform, which means you do not have to pay anything extra for a plugin; it is simply there. Because TradingView has a free service tier, you get candlestick analysis completely Free.

In the image below, you can see that pattern recognition is intelligently implemented. The Bearish Engulfing (BE) patterns are highlighted in Red, with an arrow pointing downward, suggesting that this candle is a bearish sign. You can also observe that the Doji (D) patterns are grey and pointing upwards, indicating a possible price direction change.

Finally, I like that you can hover your mouse over the pattern and get a full and detailed explanation of its meaning.

Candlestick Pattern Recognition & Analysis Intelligence Built Into TradingView
Candlestick Pattern Recognition & Analysis Intelligence Built Into TradingView

How to Enable Candlestick Recognition in Tradingview.

  1. Click on the Fx (Function Symbol) at the top of the page.
  2. Select Candlestick Patterns
  3. Select All Patterns or the specific patterns you want to see

Fundamental Scanning & Screening. TradingView hit the mark on real-time scanning and filtering and fundamental watchlists. The list of fundamentals you can scan & filter on is genuinely huge. Any idea you have based on fundamentals will be covered. They even have enormous amounts of economic data like Federal Funds Rates and World Economic Growth, thanks to a connection to the QUANDL database.

News & Social Community. As soon as you connect to TradingView, you realize this is also developed for the community. You can look at community ideas, post your charts and ideas, and join countless groups covering everything from bonds to cryptocurrency. The news feeds are fully integrated, including Kiplinger, DailyFX, Futures Magazine, FXStreet, and StockTwits.  Add that to the social network, and you have a great solution. The news service is only second to MetaStock with their Reuters Feeds.

Technical Analysis. With over 160 different indicators and unique specialty charts such as LineBreak Charts, Kagi Charts, Heikin Ashi Charts, Point & Figure Charts, and Renko Charts, you have everything you will need as an advanced trader. With the Premium membership, you also get Level II insight, fully integrated.

How to Enable TradingView Chart Pattern Recognition

  • Click on Indicators -> Technicals -> Auto -> Select one or more chart patterns.
How to Enable TradingView Stock Chart Pattern Recognition
How to Enable TradingView Stock Chart Pattern Recognition

Systems, BackTesting & Automated Trading.

TradingView has an active community of people developing and selling stock analysis systems, and you can create and sell your own with the Premium-level service. Also, there are many indicators and systems from the community for free.

The only thing you cannot do is forecast and implement robotic trading automation. For forecasting, you are better off with MetaStock. Within 5 minutes, I used TradingView; no credit card, installation, or configuration of the data feed was required; it was just there. TradingView works with a single click.

Try TradingView For Free Now


3. Finviz: Best Free Stock Chart Pattern Scanning

Finviz provides good heatmaps, stock screening, and chart pattern recognition for free. Finviz uniquely lets investors visualize vast stock market data on a single screen.

Finviz Features

⚡ Features5 Best Candlestick & Chart Pattern Recognition Software 2024 - 49 Screening, Heatmaps, Charts, Auto-Trendlines
🏆 Exceptional Features5 Best Candlestick & Chart Pattern Recognition Software 2024 - 50 33 Chart Patterns Recognized for Free, 102 Patterns for Elite Members
🎯 Best for Beginner Investors/Traders
♲ Subscription Monthly, Yearly
💰 Price $0-$39.50/mo
🆓 Free Plan Yes. Use Finviz Free
💻 OS Web Browser
🎮 Trial 30-Day Money-Back
✂ Discount -37% With Annual Plan
🌎 Region US

Finviz Pros

Winner - Finviz Simple and Powerful Candlestick & Stock Chart Pattern Recognition
Winner – Finviz Simple and Powerful Candlestick & Stock Chart Pattern Recognition
  • 67 stock screening metrics
  • 33 Automated stock chart signals
  • Screen entire markets for chart patterns or candlesticks
  • Finviz Elite recognizes 102 stock chart patterns
  • Intraday (1-minute) data with Finviz Elite
  • One of the best free stock screeners
  • Good insider trading information
  • Good heatmaps

Finviz Cons

  • Only 9 chart overlays
  • Only 17 chart indicators on standard charts
  • Limited cryptocurrency & Forex data

Finviz enables you to scan for 40 different stock chart patterns and candlesticks. Finviz is easy to use, and with a few clicks, you can screen for stock chart patterns across the US stock markets.

To scan for chart patterns with Finviz, follow these steps.

  • Visit Finviz > 1. Click Screener -> 2. Select Technicals -> 3. Click Charts -> 4. Open Patterns Drop Down Menu -> Select Your Patterns
6 Steps to Set Up Stock Chart Pattern Scanning with Finviz
6 Steps to Set Up Stock Chart Pattern Scanning with Finviz

I was very excited to try the Finviz backtesting service, and after six hours of working on strategies with the Finviz backtester, I was impressed. The backtester offers over 100 unique indicators and automatically detects stock chart patterns to help you build a truly unique system. The screenshot below shows a snippet of the available pattern recognition criteria. Now I am excited.

Finviz Elite Review: Establishing a Backtesting

Finviz Elite Review: Building a Successful Backtested System

The Finviz Backtester offers over 100 unique indicators and automatically detects stock chart patterns to help build a truly unique system. After all this work, I created a system based on the Money Flow Index that has handsomely beat the S&P 500 index over the last 24 years.

The system returned a profit of 1,588%, with a compounded annual return (CAGR) of 15.24% versus the S&P 500 of 10.86%. See the proof below.

Finviz Elite Review: Backtesting Results
Finviz Elite Review: Backtesting Results: I managed to create a system that beat the S&P 500 index handsomely over the last 24 years, returning a profit of 1,588%

In any case, Finviz Free provides excellent stock chart pattern recognition, and FinViz Elite provides powerful backtesting.

Try Finviz for Free


4. Tickeron: AI Stock Chart Patterns Recognition

Tickeron has impressive AI-powered chart pattern recognition and prediction algorithms for stocks, ETFs, Forex, and Crypto. Tickeron also has thematic model portfolios, specific pattern-based trading signals, success probability, and AI confidence levels.

Tickeron Features

⚡ Features5 Best Candlestick & Chart Pattern Recognition Software 2024 - 49 Portfolios, Watchlists, Screening
🏆 Unique Features5 Best Candlestick & Chart Pattern Recognition Software 2024 - 50 AI Trade Signals & 40 Chart Patterns Recognized
🎯 Best for Short-term Traders
♲ Subscription Monthly, Yearly
💰 Price $0-$250/mo
💻 OS Web Browser, PC
🎮 Trial 14-Day Free Trial
✂ Discount -50% Off All Annual Plans
🌎 Region USA

Tickeron Pros

  • 40 Real-time Stock, ETF, Forex & Crypto Pattern Recognition
  • AI Trend Prediction Engines
  • Investing Portfolios with Audited Track Records
  • Build Your Portfolios with AI

Tickeron Cons

  • Custom Charting Limited
  • Cannot Plot Indicators

At the heart of Tickeron is the ability of its AI algorithms to spot 40 different stock chart patterns in real-time. You can select which pattern you want to trade, and it will filter stocks, forex, or cryptocurrencies that currently show the pattern. Patterns are split into bullish patterns for long trades or bearish patterns for those who wish to go short.

Tickeron Real-time Stock Chart Pattern Recognition
Tickeron Real-time Stock Chart Pattern Recognition

Tickeron’s real-time pattern recognition is particularly useful for swing or day traders, where market timing is the top priority. Tickeron can also scan the entire market and suggest which patterns work best on a particular day. In the screenshot above, you can see “Today’s Top Ranked Patterns,” which rates the potential success of the patterns based on the market’s current trading activity.

Ultimately, pattern recognition saves pattern traders a lot of work hunting for potential trade setups because it does all the work for them.

Trading Signals & Prediction

Tickeron has implemented a powerful feature called AI Confidence Level. Based on the history of the stock, the success rate of a particular pattern, and the market’s current direction, Tickeron can assign a confidence level to a trade prediction.

The screenshot below shows that the Tickeron AI predicts that ABUS has an 88% chance of declining in value and ACET has an 81% chance of increasing in value.

Tickeron's AI Pattern Prediction Engine
Tickeron’s AI Pattern Prediction Engine

The outstanding feature of the Tickeron prediction engine is that you can click “Show previous predictions” to check if the AI has done a good job in the past with a particular pattern on specific stocks. The prediction engine provides the right level of clarity and granularity so you can make informed trading decisions.

Tickeron AI Pattern Recognition Video

Tickeron presents users with charts that already have patterns mapped and directions predicted; this is the single biggest benefit of the service. You will be disappointed if you want to perform your own technical analysis, configure your own indicators, or make chart annotations. Using AI in this platform means you will rely more on the algorithms than your creativity, which is probably good for most people.

Tickeron 50% Discount

You can immediately save 50% on all Tickeron’s plans by signing up for a single annual payment rather than paying monthly. This radically reduces the cost of the Expert plan from $250 per month to $125, which makes it a very cost-effective AI trading service.

Get 50% Off Tickeron


5. MetaStock: Best Candlestick Pattern Trading Tool

Combining MetaStock’s powerful technical analysis charting with their candlestick pattern recognition add-on enables a stock trading system that predicts the probable win ratio of every pattern. This combination means a systematic trading strategy for buying and selling candlestick patterns.

MetaStock Features

⚡ Features5 Best Candlestick & Chart Pattern Recognition Software 2024 - 49 Charts, Watchlists, Scanning
🏆 Unique Features5 Best Candlestick & Chart Pattern Recognition Software 2024 - 50 Japanese Candle Pattern Recognition System
🎯 Best for Stock, Fx & Commodity Traders
♲ Subscription Monthly, Yearly
💰 Price $59-$250/mo
💻 OS PC
🎮 Trial 30-Day Free Trial
✂ Discount 3 Months for 1
🌎 Region Global
Liberated Stock Trader Review Winner
MetaStock – Winner Best Backtesting, System Trading & Analysis Platform

Pros

  • 56 Candlestick Trading Setups Recognized
  • Specific Buy & Sell Signals & Win Probabilities
  • The Best Charts & Indicators Selection
  • The Best System for Backtesting & Forecasting
  • Real-time News from Reuters (with Refinitiv Xenith)
  • Global Real-time Exchange Data

Cons

  • PC Only
  • No Mobile App
  • Candlestick System Costs an Extra $349 (one-off payment)

Special Deal — 3 Months for the price of 1

MetaStock is one of the biggest fish in the sea of stock market analysis software. Backed up by the mighty Thomson Reuters, you can expect fast global data and broad market coverage, including equities, futures, forex, ETFs, and options.

Candlestick Pattern Trading System in MetaStock

Metastock is different from other vendors because their software runs locally on your PC, and you can buy one-off licenses and avoid monthly payments. They also operate a marketplace where professional traders sell their stock trading systems and signals as add-ons to MetaStock.

MetaStock does not provide candlestick recognition natively, so you will need to buy the add-on called “Greg Morris’ Japanese Candle Recognition” for a one-off payment of $349. Greg Morris is seen as one of the global authorities on Japanese candlestick trading and has been published on the topic.

The Accuracy of Candlestick Patterns

With full candlestick backtesting, analysis, and signals, this add-on has a very sophisticated trading system. The add-in forecasts the next move in stock price and the probability of the Candlestick signal being successful.

The probability rating of the candlestick recognition success is critical, and no other software offers this level of a professional trading system.

You can see that this signal (highlighted in yellow) predicts a 77% chance of success in the image below.

Candlestick Pattern Recognition & Analysis Add-On With MetaStock
Candlestick Pattern Recognition & Analysis Add-On With MetaStock

You get forecasting of the direction of the next move in stock price and also the probability of the candlestick signal being successful

Fundamental Scanning and Screening.

Using Refinitiv Xenith, you can see an in-depth analysis of company fundamentals from debt structure to top 10 investors, including level II. Excellent watch lists featuring fundamentals and powerful scanning of the markets get a perfect 10. MetaStock has full Xenith integration with institutional-level news, analysis, and outlook. This is the fastest global news service available, including translations into all major languages.

Stock Systems Back Testing & Forecasting.

Another area where MetaStock excels is what they call expert advisors. MetaStock harnesses many inbuilt systems to help you understand and profit from technical analysis patterns and well-researched systems as a beginner or intermediate trader. This is a key area of advantage. The most significant addition to the MetaStock arsenal is the forecasting functionality, which sets it apart from the crowd.

MetaStock still feels like a collection of separately developed applications requiring users’ education to make them work together. However, the vast selection of automated “expert advisors” you can deploy on the range of stocks in your purview makes MetaStock well worth the investment.

Japanese Candlestick Recognition Video

Get The MetaStock Candle Recognition System Exclusively With MetaStock

Summary: Candlestick Analysis & Recognition Software Comparison

TrendSpider offers robust backtesting, candlestick analysis & interpretation on multiple timeframes. TradingView has the best free candlestick charting & recognition for global stock/Forex markets. Finally, MetaStock offers a powerful candlestick trading system with buy signals and win probabilities for professional traders. They are all excellent solutions; the choice is down to you.


Frequently Asked Questions

How can I predict candlestick charts?

Many experts have run backtests to predict candlestick chart outcomes. Success rates vary from 50-50 to 63 percent success rates. Therefore it is important to test candlestick pattern success on specific stocks. You can perform this analysis using TradingView or TrendSpider.

How to read stock candles for beginners?

Beginners must decide whether to learn 147 candlestick patterns or use automated candlestick pattern recognition software. TrendSpider recognizes 147 candlestick patterns and TradingView 47. Both systems allow screening for candlestick patterns across markets and backtest the success rate.

How to recognize stock patterns?

To recognize stock patterns, you first need to memorize the many variations, then review each chart to spot the patterns. Alternatively, use automated pattern recognition using TrendSpider's Market Scanner or the Finviz Screener.

How to predict the next Candlestick?

Predicting the next Candlestick is not as easy as you might think. Candlestick patterns, at best, offer only a 65% chance of predicting correctly, and at worst, they can be misleading. The best way to predict the next candle is to use bullish patterns in an up-trending market. Also, using candle patterns on an hourly or daily timeframe is more predictive than per minute.

How to recognize candlestick patterns?

Manually recognizing candlestick patterns is laborious work, both to memorize the patterns and then examine the chart. This is why TradingView, FinViz, and TrendSpider have powerful algorithms to detect these patterns and save you time.

How many chart patterns are there in the stock market?

There are 20 major stock chart patterns defined by leading technical analysts like Murphy and Pring. Chart patterns range from the very predictive Head & Shoulders and Double Top reversals to the less predictive Wedges and Pennants. All 20 chart patterns are covered in this article.

How to easily identify stock chart patterns?

The quickest and easiest way to identify stock chart patterns is to scan for patterns using the FinViz Stock Screener. 1. Click Screener -> 2. Select Technicals -> 3. Click Charts -> 4. Open Patterns Drop Down Menu -> Select Your Patterns
6 Steps to Set Up Stock Chart Pattern Scanning with Finviz

How to learn stock chart patterns?

To learn stock chart patterns, you need to understand supply and demand and then memorize each pattern. We have a lesson on the 20 most predictive chart patterns here, or you can purchase the book Technical Analysis Explained by John J. Murphy.

How to programmatically find patterns in stock charts?

Programmatically finding patterns in stocks is the future of technical analysis for traders. TrendSpider's Market Scanner, FinViz's Stock Screener, TradingView's Auto-Indicators, and Tickeron's Pattern Engine have already fully programmatically automated the process.

How to screen for stocks with a given chart pattern?

The easiest way to screen for stocks with a specific chart pattern is using the FinViz screener. 1. Select the [Technical] tab. 2. Select [Pattern]. 3. Choose the chart pattern. For more powerful pattern screening, try TrendSpider's Market Scanner.

What is the best software to identify stock chart trendlines?

The best software to identify stock chart trendlines is TrendSpider because it fully identifies all trendlines on all timeframes on a single chart. TrendSpider was created specifically to identify trendlines.

What is the best software for Candlestick Pattern Recognition?

TrendSpider and TradingView are both excellent software for Candlestick pattern recognition. While TradingView's Candlestick recognition is more intuitive, TrendSpider enables powerful scanning and backtesting of 123 patterns.

What software has automatic Fibonacci patterns on stock charts?

The best software for automatic Fibonacci pattern recognition on stock charts is TrendSpider's AutoFibs function and TradingView's Auto Fib Extention and Retracement indicators. Automated Fibonacci pattern recognition is rare in charting services because it is so algorithmically complex.

What software has stock chart pattern backtesting?

TrendSpider has by far the best stock chart pattern backtesting, covering 123 candlestick patterns and 28 stock chart patterns. TrendSpider's backtesting is powerful yet elegant, requiring no coding skills.

What are the most predictive candlestick chart patterns?

No candlestick pattern is 100 percent predictive. The most predictive candlestick patterns are bullish candlesticks in a primary stock market uptrend. You must combine market timing and the primary market trend with the right bullish pattern to get the highest win probability. TrendSpider's point-and-click backtesting or MetaStock's candlestick expert advisor can help you test the outcomes.

Top 12 Chart Patterns Proven Profitable & Reliable

2 COMMENTS

  1. thanks for the excellent work testing these charts. I tried both tradingview and trendspider. I preferred trendspider due to backtesting.

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