Product Review: PatternMatcher by Jayanthi Gopalakrishnan
Cup with handle, double tops, head & shoulders... there are numerous patterns that can appear on a chart. Identifying them can take time, especially in a market like we have today.
TD Ameritrade has introduced a tool in its repertoire called PatternMatcher, part of the Command Center platform, that actually identifies patterns that have either completed or are emerging. Itís available to TD Ameritrade clients at no charge.
Once you launch Command Center from your TD Ameritrade
account, you just click on the PatternMatcher button to access this program. Youíll see a display similar to what you see in Figure 1. The various patterns are listed (in this case, 12) with a note on how many stocks meet that pattern criteria. I selected the head & shoulders pattern since that pattern had the highest number of stocks out of all the patterns, which can be expected given the current
situation in the market.