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CandleScanner™ is a technical analysis software package created for investors interested in Japanese candle patterns. What makes this application exceptional is that, from the outset, it has been specifically designed for the detection of Japanese candle patterns. It is not just an add-on to an existing analysis platform, but a specialist charting application written by people with an extensive knowledge of the topic of Japanese candlestick patterns. It is suitable for both seasoned traders and complete beginners.
The application of CandleScanner™ is extremely versatile, and can be used by a whole spectrum of traders involved in, for example, stock market trading, commodities markets, futures markets or forex. Also, those who are just beginners will find CandleScanner™ a great learning and training tool, where they can learn from real-life data-based examples, rather than just pure text book theory.
With the application you can do the following:
– Quickly scan candlestick charts to find all occurrences of candle patterns
– Measure the efficiency of patterns, i.e. are they working as you expect them to?
– Build trading strategies based on candle patterns and simulate transactions (backtesting)
CandleScanner™ is highly configurable, meaning that you can adjust it to your specific needs. The algorithms scanning the candlesticks charts have many parameters, which can be set by the user. Also, the visual aspects of the application are highly customizable, enabling everyone to find their desired optimal settings.