May 3rd, 2016 04:05
Today, I am excited to announce that we are releasing AlpacaScan to the public. AlpacaScan is a real-time market scanner for the US stocks with candlestick patterns.
Since releasing Capitalico, we have continued to communicate with our users in a daily basis, and from these communications and incredible feedback, AlpacaScan was born. One Capitalico user specifically expressed a need to have the ability to go through US stock charts based on candlestick patterns.
The goal was to develop a tool that would identify candlestick patterns indicating a potential trend shift, but without the limitations of traditional binary filtering. The rationale being that among the thousands of stock charts available, it would be impossible to personally identify stocks that are primed to make a move. And, filtering through binary conditions led to the exact opposite problem of eliminating too many stocks simply because certain conditions were not met and therefore missing opportunities with good trade setups.
The solution then was to create a filtering tool based on pattern recognition. Specifically, we built an algorithm to analyze all the stock charts for a set of defined patterns that indicate a likelihood of movement. In today’s launch, we have 6 candlestick patterns listed below however, we plan to add many more that will include more complicated setups. If you have specific trade setups that you would like to see in AlpacaScan, as always, please feel free to contact us or tweet to us!
AlpacaScan does more for you when used as one of your starting points for your daily trading activity. Combine AlpacaScan with your other metrics by simply copying & pasting the scanned results to other services.
We invite you to please share your experience with AlpacaScan by twitter, Stocktwits or other service. AlpacaScan was built just for you and we look forward to hearing more about your experiences as our product offerings continue to grow and improve!!