Technicians have be viewing charts and identifying classical patterns by eye, which is extremely subjective. Investigator now defines classical patterns such as double tops and triple bottoms by using Major Pivot points.
First, select the time period and enter the number of bars ago value that you want to use for testing.
The first option you can now specify is that you want a Major Pivot Up or Down Within a specified number of bars. This means, for example, that if you enter 5 (the program’s default) in the edit box, you want Investigator to see if there was a pivot high or low at any time during the last five bars. Another option you can choose is a Major Pivot Up or Down exactly the number of specified bars ago. If you choose this option and enter 5 in the edit box, the Major Pivot Up or Down must be exactly 5 bars ago (unless you entered a value in the number of bars ago edit box, then the value must be exactly the number of bars ago plus five bars ago).
A double bottom connects Major Pivots Ups and Downs according to the following rules:
A is greater than C
D is within the percent value that you enter (of the distance from B to C) of B
the upswing E goes above C
A double top connects Major Pivots Ups and Downs according to the following rules:
A is less than C
D is within the percent value that you enter (of the distance from B to C) of B
the downswing E goes below C
A triple bottom connects Major Pivots Ups and Downs according to the following rules:
C and E are less than A
D and F are within the percent value that you enter (of the distance from B to C) of B
E is within the percent value that you enter (of the distance from B to C) of C
the upswing G goes above C and E
A triple top connects Major Pivots Ups and Downs according to the following rules:
C and E are greater than A
D and F are within the percent value that you enter (of the distance from B to C) of B
E is within the percent value that you enter (of the distance from B to C) of C
the down swing G goes below C and E
A N correction up connects Major Pivots Ups and Downs according to the following rules:
the B to E correction retraces less than the percent value you enter of A to B
D is less than B
E is less than C
F is greater than D
A N correction down connects Major Pivots Ups and Downs according to the following rules:
A is greater than E
D is greater than B
E is greater than C
F is less than D
Note: the percent correction is dropped for N correction down