I am pleased to announce some very substantial improvements to the Candle Hunter feature in SlopeCharts. We introduced this product only a week ago, and if you missed the original post, you can read it here. Premium members at the Silver, Gold, and Diamond levels can make use of this feature:
You already know that it can identify any (or all) of fourteen different candlestick patterns:
You can also customize each pattern with a specific color, opacity, outline weight, and outline opacity. Importantly, it now saves all these customized colors to your account so that you only have to go through this process once (if you want to……..there are default colors, of course).
Much more important that this is that you can now adjust the parameters of every single pattern. In other words, each of the fourteen patterns has its own settings with respect to one candlestick’s relationship with another.
Here is one example below: the Bearish Engulfing pattern. Each pattern choice from the dropdown will present to you a simplified, idealized graphic representation of what that pattern looks like and offer you input boxes if you want to change any of the defaults.
As with the colors, these tweaks and modifications are saved to your own account so that no matter where you are using SlopeCharts, these customizations will be ready to use. The simple fact is that you can greatly improve the quality (and limit the quantity) of candlestick “hits” by using these new parameters.
One important tip: you can hide the prices by pressing Ctrl-P. This is helpful because it’s quite difficult to see the candlestick patterns (since they represent such a tiny amount of data) with hundreds of bars on the screen.
Another nice feature is the ability to preserve patterns. If you see a candlestick pattern that you’d like to save permanently as a drawn object, just right-click on it and “keep” it:
We hope you like these improvements, and you can count on many more in the near future.
