Welcome to CandlePower 6 Pro - a professional charting and scanning program for end-of-day candle pattern and technical analyses. CP6 Pro represents the latest update to the CandlePower 6 series of programs. It adds “BestPerf”, an automatic “Best Performance” back-testing capability that determines the best performing indicator for each and every security scanned, using 13 popular technical indicators and a library of 106 candle patterns. In essence, it shows what works best! A free full-function Demo is available by calling (503) 364-3829 or emailing demo@chartandscan.com.
CandlePower 6 Pro software uses the following steps:
Chart
The CP6 Pro chart screen can be configured to show any or all indicator signals and candle signals, along with the price plot which can be displayed in several formats including candle stick, equivolume, line, bar, or candlepower (where the width of the candle is proportional to volume).
- Data and Performance Windows
- Indicator and Volume Moving Averages
- 7 Selectable Price Moving Averages
- Selectable Chart Parameters and Colors
- Least Square Fit Lines
- Bar Chart Breakouts
- Linear and Log Scales
Scan
The CP6 Pro AutoScan will scan every security in any or all of your databases to determine the occurrence of a technical indicator signal and or candle pattern signal for the current (or any) date according to the criteria you specify.
- Scan Rate: >5000 stocks per minute
- Unlimited number of securities
- Results saved for easy charting, printing, or exporting to other programs
Test
The CP6 Pro AutoTest routine tests both candle patterns and technical indicators either individually or all at one time. Both methods are based on a simple "look forward" algorithm that accumulates net gains for each indicator and candle pattern at selected intervals after their signals.
- Price & Volume Minimum and Maximum Criteria
- Rank by Net %Gain, %Win/Loss, Average Win/Loss
- User selectable timeframe and performance intervals
- 106 Candle Patterns and 13 Technical Indicators
- Symbol, date, and signal saved for subsequent "automatic- centered signal" charting
Performance!
CP6 Pro tests how well each indicator, including candle patterns as a group, performed using three different trading strategies (long, short, and both). The results, listing the best indicators and strategies for each security, can be displayed in the chart screen performance window. The test results, which can also be obtained from a "BestPerf" scan of all securities, are listed and sorted by symbol, best indicator and strategy, percent gain, and current signal, if any. The number of times each indicator was ranked best is also summarized. This is an extremely powerful tool.
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