what do you think of patterns like triangles and flags in the 5 minute chart?they are reliable?, I would like to know if anyone has ever done an expert to do a backtest
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Dislikedwhat do you think of patterns like triangles and flags in the 5 minute chart?they are reliable?, I would like to know if anyone has ever done an expert to do a backtestIgnored
Disliked{quote} Over the years, I have tested all the standard patterns over various markets and timeframes and the dominant conclusion I reached is that, over a big enough sample, close to 100% of all standard patterns across all timeframes, are effectively random if traded in a mechanical way, triangles & flags in 5 min charts included. As a simple reality check, if any one pattern tested consistently better than random in any timeframe there would be many, many extraordinarily rich traders around - but there aren't. To be consistently profitable you...Ignored
Disliked{quote} thank you for sharing your experience. I think the triangle pattern works well with a higher time frame trend analysis, and the exponential moving averages 7 and 20 to capture the swing in m5. This seems good on eur / usd from 9 am to 11am. What do you think?Ignored