Scan for head-shoulder neckline breakout

John_168

Hello everyone. Is there any way to scan for breakout / breakdown of the neckline of a head-shoulder pattern?

markd

Never say never, but I would say the short answer is, no.

Many patterns, and especially h&s, have infinite variations and to me, many instances exist only in the eye of the beholder. Some sites claim to to able to do it, but to my eye the results look a little iffy. The trick is to find a set of indicator and/or overlay behaviors that are common to h&s patterns. I think they vary so widely, there may not be any such combination.

If you are interested, P&F patterns seem to be more clearly defined, and SC has a set of pre-defined P&F scans:

https://stockcharts.com/def/servlet/SC.scan

Maybe there are other users who have devised something using the scan engine that they would like to share - a breakout or breakdown scan that captures a fair number of h&s patterns even if you aren't specifically coding for them?

John_168

Thanks Mark. I'll take a llok at the P&F patterns.