Is there any way of Zorro being able to recognize any of these patterns as they can normally be followed with significant moves?

http://www.kitco.com/ind/Tablish/20130325.html

This can certainly be implemented - but you can do that yourself with a small lite-C script.

If you want us to implement it, our policy is as follows: if evidence exists that an indicator is useful, we normally implement it on request for the next version. If however the indicator is not backed by any evidence or rational basis, we can implement it nevertheless, but then you have to pay for it.

There are some working pattern trading methods, but diamonds, as to my knowledge, belong to the realm of the irrational.

Thanks for the reply jcl:

It would be great if a few of the more reliable patterns were implemented but I guess better to try and learn this myself, but to be honest I think the task could be out of my depth hence asking here.

But i will give it a try though, just do not know where to start. Maybe an idea for a beginner like me is to decipher an already working MT4 based script and trying to learn what is what before attempting the task?

These to me seem like they could be useful...

Trendline, double/ triple, top or bottom, flags, triangle, wedge etc.

I will get researching and try and fine some code examples but thought this was worth a mention in the Zorro future forum anyhow...


Cheers.

From my experience, the best way for a beginner is describing the algorithm in natural language, just as if you would explain it to someone else who has absolutely no clue of trading. Then try to convert that description into code. If you run into problems, just ask here. Analyzing MT4 scripts is often a waste of time.

Ok perfect, will give it a shot.

If I may, can I progress this thread as I am having difficulty in learning how to use this programming language too.

a good exercise would be to develop a script that emulates the Triangle indicator in the book by Jaeckle and Tomasini. They developed a profitable system from this method which another advantage that it was the market 1-2% of the time.

In this book they break down the setup to a volatility indicator and a moving average. Essentially the conditions are that the volatility indicator of the last 300 bars has dropped to its lowest point and the moving average of the last 200 bars is nearly horizontal.

This is all I have so far. It is terrible and doesn't do anything but generate a price chart of the asset.


//I will try to code a similar indicator to the traditional TA version of the triangle/flag/consolidation pattern


//A volatility indicator is required of the last 300 days


////////////Try the MACD with fixed period components?

function run()
{

BarPeriod = 60;
LookBack = 300;

vars Price = series(price());
BBands(series(price()),30,1,1,MAType_SMA);
var BollingerBandsOscillator = BBOsc(Price,100,1,300);



// plot signals and thresholds
plot("BBands",1,NEW,BLUE);
// plot("Signal",Signal[0],NEW,RED);
// plot("Threshold1",Threshold,0,BLACK);
// plot("Threshold2",-Threshold,0,BLACK);
PlotWidth = 600;
PlotHeight1 = 300;




}