Would it make sense to build a position trading scanner?
One that tracks patterns, Identifies bases, how far the panic sell goes on average once the base is cracked, how far it typically bounces back after, and what the probability that the pattern will continue based on past results?
Is there a flaw with this sort of thinking?
That would be awesome, but many have requested this type of scanner, and it seems too complicated to build.. it is possible, but it would have to adjust to many different looking charts, Im not sure how that could be coded.
I am a seasoned c# .net developer and have been thinking about how to do this since I started following your method.
I am willing to develop it for free if you can give some guidance? @quickfingersluc
Thanks for the reply luc! I figured it wasn't a novel idea. I have no idea how difficult it would be make that software - Maybe someone will take up that project one day, but until then I really appreciate you taking on the difficult task of teaching us how to do it manually! Teaching a man to fish and all of that!
This is what I am after also! Couldn't we just change the parameters of the current scanner to look for a 5-15% (adjustable) drop over 1-4 hours (adjustable) with a volume greater than 30 BTC (also should be adjustable)? It would be crude, but effective, right? Thanks again man. If I had it my way I would just make 1-3 large trades per week and live the good life :)