https://thinkorswim.net Automatically Find Chart Patterns & Candlestick Patterns in ThinkOrSwim Think-Or-Swim has a great little feature that helps you automatically find and trade technical chart patterns and candlestick patterns. You’ve no doubt read about the classic technical chart patterns such as double tops and bottoms, head and shoulders, ascending triangles, etc. You’ve likely also heard of the Japanese candlestick patterns such as Marubozu, Doji, Evening Star, Morning Star, etc. But did you know ThinkOrSwim knows how to find and notify you of all these types of chart patterns automatically? TOS features a great pattern recognition engine that finds both classic technical chart patterns and Japanese candlestick patterns. In this video I show you how to turn on pattern recognition in TOS and then customize which classic chart and candlestick patterns you want Think Or Swim to find for you. In my next video, I’ll also show you how to make your own custom candlestick patterns in TOS. If you find these videos helpful, please like & subscribe! And leave us a comment or email us on the website at: https://thinkorswim.net
How to Make Custom Candlestick Patterns!
The ThinkOrSwim platform from TD Ameritrade has a rather ingenious function that allows you to drag and drop your own custom candlestick pattern together and use it in your trading, getting automatic signals whenever the pattern happens.
Not only can you have the platform automatically alert you to any of the common candlestick patterns, such as Doji, Marubozu, Evening Star, Morning Star, etc., you can also create your own custom candle stick patterns, or even groups of patterns, and have those trigger a signal on your chart to tell you to enter a trade.
I was really surprised when I learned about this feature in the platform. Hats off to the guys over at Think-Or-Swim for adding that feature to the platform for us.
In this video I show you how to create a variation on a micro double bottom candlestick formation, similar to something Al Brooks might talk about. Brooks believes all reversals are double bottoms in some way, even if they don’t look like it. And this candle stick pattern finds micro double bottoms imbedded in the price action that, on a lower timeframe, would look like actual double bottoms.
Hopefully you guys find this feature to be as cool as I do. If this helps, please like & subscribe! And feel free to check out our other videos and our site over at: