Is trading chart patterns a wise strategy?


Pricing plans and indicator

Hi there, here's Daveatt from TradingView.

This framework is offered to our PREMIUM subscribers.

More info on our Pricing Plans page.

Chart and Candles patterns are.... subjective. So, when the analysis is wrong, then the trades go very wrong too.

Cup and Handle, Head and Shoulders are laughable because working at best 1 time out of 3.
Charts Patterns lead the traders to draw on his charts what he/she wants the market to do. Let me break down something you, the market doesn't "care" what I, we, you want.

Only algorithmic trading removes most or ALL of the subjectivity in trading.

Though, trendlines are for sure a nice addition to identify whenever a higher-high/lower-low appears

We're trading the Indices Intraday using the Algorithm Builder Indices

A quite note

Each screenshot below is clickable and can be enlarged for better visibility

Indices 2-minutes Trading Signals

$DJIA: 260 points
$SPX: 280 points
$DAX: 100 points

Total= 640 points

TradingView trade How many points would you have made on these trades if you used our 2minutes algorithm on indices TradingView trade How many points would you have made on these trades if you used our 2minutes algorithm on indices TradingView trade How many points would you have made on these trades if you used our 2minutes algorithm on indices

Trading Indices 5-minutes Signals

$DJIA: 560 points

$SPX: 820 points 

Total = 1380 points

TradingView trade How many points would you have made on these trades if you used our 5minutes algorithm on indices TradingView trade How many points would you have made on these trades if you used our 5minutes algorithm on indices

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