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1. Stock screeners based on trendline patterns include: Resistance (topline) breakout, Support (bottom line) penetration, Channels (both top and bottom line), Wedge (Consolidation pattern bounded by top and bottom lines), near Support level, near Resistance level.
2. A support trend line (or a bottom line) is formed when a securities price decreases and then rebounds at a pivot point that aligns with at least two previous support pivot points.
3. Similarly a resistance trend line (or a top line) is formed when a securities price increases and then rebounds at a pivot point that aligns with at least two previous resistance pivot points.
4. The only stock chart app to automatically display Support and Resistance lines (also known as Trendlines) on a Candlestick chart, powered by Screenulator.com chart pattern recognition AI algorithms.
5. It also has a filter or stock screener based on Trendline patterns, such as Resistance breakout and Support penetration.
6. If you are looking for a particular trendline pattern - such as Resistance breakout, the tasks of drawing trendlines for all stocks on the market becomes tedious if not impossible.
7. However, unlike other indicators of Technical Analysis, it does not come with a fixed formula, but require human eyes and brain to draw the best fit line across a series of bottoms or tops.
8. In other words, bottom lines are formed by joining a series of bottom points, and top lines are formed by joining a series of peaks.
9. The screening results are updated daily and individual stock charts and automatic trendline drawing is done instantaneously in real time.
10. - Indicator window: RSI, MACD, SMA, EMA, Bollinger, Keltner, Donchian band, Ichimoku Cloud, Parabolic SAR, McGinley Dynamic, SuperTrend, stochastic, ADX, Aroon, Chaikin, Ultimate, MFI, OBV, ATR, ADL, CCI indicators.
11. By using Deep Learning Neural Networks, the effectiveness and profitability of automated trendlines have been backtested with over 50+ years of historical big data.
Liked Trendline Charts? you may also like other Finance apps like Breakout Stocks: Chart & Level; Stock Charts - Investing in ma; Barchart Stocks & Futures; Chartist - Forex Charts & More Tools; InvestCharts;