for Market Detective Reversal Signals:
The Reversal Signals scan feature automatically applies the Market Detective Indicator
study to the portfolio of multiple symbols specified by
your current and default File Directory. This auto scan
of all the portfolio’s symbols then produces a list
of only those symbols that are flagging an ‘R’
reversal signal on their last price bar. In other words,
if you have a portfolio of 100 symbols, and this command
finds 15 that are indicating that the latest trading day
has produced a Market Detective ‘R’ reversal
signal, then you will see only these 15 symbols listed
in the list box of the dialog box below that initially
pops up. You can then select any number of symbols from
the list that you want to chart by double clicking each
selection or using the Ctrl+Click method to preselect multiple
symbols and then clicking the Apply button. Each reversal
chart that is drawn will always have as its default graphics
the Market Detective Indicator that uses a Japanese Candlesticks
bar chart displaying the explicit ‘S’, stay
short, ‘R’, reverse, and ‘L’,
stay long signals at each bar. The resultant view of charts
will exclude the previous default charts view to prevent
the mixing of these default charts with the reversal-signals-only
charts. Excluding the normal default charts from this
view allows you to conveniently Tab through and view (using
the Tab key) just the reversal signal charts. Below is a sample of
the dialog box that displays the Reversal scan list,
and a sample of a main window view of multiple reversal charts...
Scan for Standard Candlestick Alert Patterns:
As of November, 2007 and MD version 8.00, a new and
very useful Candlestick scan was added to the MD program.
I consider it to be a complementary and important additional feature
to the original portfolio based scan for ‘R’ signal reversals. This
new feature will scan your portfolio for the 12 most popular Standard Alert Patterns
based on Candlestick theory, such as Dojis, Stars, Hanging men, Hammers, etc.,
that represent the precursor patterns to a potential short term trend reversal.
Since MD was designed to be used mostly as a Japanese Candlestick technical
analysis charting program, this feature will offer the Candlestick theorists
among you an opportunity to consider if a trend reversal is in the making for
the next trading day. Of course it will in no way guarantee that a reversal will
happen, but will simply act as an alert to an imminent probability of a reversal.
To invoke either the original Reversals scan or this new Alerts scan, select the
Candlestick Alerts Search... command from the File menu, and then select the option
desired from the dialog box that gets displayed.
box that displays the reversal signal scan list for a
portfolio of about 40 stocks, of the *.txt type, saved
in my C:\Data\stocks directory in Ascii format.
Window view that displays four charts selected from the
reversal signal scan list above. Note the 'R' signal on
each of the last bars. Note also the 'SSR' toolbar button,
the fourth one from the left. Clicking it invokes the
reversal signal scanning process and dialog box. Passing
the mouse arrow over it displays the Scan for Market Detective
Reversal Signals tips window. In the same manner, a tips
window will appear for each of the other toolbar buttons
to define and clarify their purpose.
of the two same symbol charts below would be more useful
for a swing trader? You decide...
to 100 multiple charts can be displayed in tiled format.
interactive chart graphics include Fibonacci support and
resistance retracement lines, trendlines, and user text: