The Most Advanced Tool for Analyzing Price Action and Discovering Trading Systems

Price Action Lab™
Now with code generation for Quantopian platform

Price Action Lab generates code for patterns and systems of patterns for the Quantopian platform, Tradestation (EasyLanguage), Multicharts (EasyLanguage), NinjaTrader 7 and Amibroker (AFL), complete pattern code for Wealth-Lab 4 and TeleChart and pattern code for MetaTrader.

Price Action Lab minimizes data-mining bias by focusing on only one indicator type: price itself. The program uses a proprietary algorithm of price pattern detection not based on neural networks or genetic algorithms. The output of Price Action Lab is 100% reproducible for same data and parameter settings. Reproducibility is a requirement of the scientific method. You may find customer testimonials and comments below.

With Price Action Lab you can become a quant trader in just a few minutes. You select the historical data and the risk/reward parameters, you specify the desired performance criteria and then you enter the world of advanced quantitative trading. Programming knowledge is not required to use this powerful trading software. There is a friendly user interface and no unnecessary functionality.

Use PAL to Discover Trading Algos

Use PAL for quantitative discretionary trading

Automated discovery of price action patterns and strategy generation. PAL is a true white-box. No price lagging indicators, no curve-fitting, no optimization. Use it with the timeframe of your choice, daily or intraday. A solid foundation for developing trading systems . No programming required.

PAL scans end-of-day market data and identifies a variety of price patterns and high probability setups. It also determines the probability and significance of directional market moves by calculating the p-indicator. Use the program with any number of symbols to scan. No programming required.

Click here for an example

Click here for an example

Why PAL?

The PAL Advantage

PAL does not use genetic algorithms, neural networks, permutations or any other methods employed by some other programs that often generate random and curve-fitted systems. PAL does not search for any predefined pattern formations in the data and it does not perform permutations or combinations of rules and indicators. The algorithm used for the pattern search, scan and p-indicator functions of PAL was designed carefully to minimize data mining bias.

PAL is based on a proprietary algorithm that produces the same output each time it encounters the same conditions and this determinism is in compliance with the standards of scientific testing and analysis. Due to this determinism, PAL can find patterns that minimize data-mining and data-snooping bias. In addition, the program offers  several functions for out of sample testing and cross-validation and a randomization tool for ranking performance results.

Click here for an example

Click here for an example

Price Action Lab™ will discover price patterns in any market and timeframe of your choice in a matter of minutes by analyzing market price action based on user-defined performance statistics and risk/reward parameters. PAL achieves this by searching historical data in a fully automated way. The program offers three main functions: search for price patterns, scan for price patterns and P-Indicator calculations. Programming is not required to use the f unctions of PAL.  Actually, PAL will generate code for you. Please read our disclaimer before ordering

Code generation: PAL generates backtesting code for patterns and systems of patterns in Tradestation (Easylanguage), Multicharts (EasyLanguage), NinjaTrader and Amibroker (AFL), complete pattern code for Wealth-Lab 4 and TeleChart and pattern condition code for MetaTrader. Click here for examples of EasyLanguage and Amibroker code generation and here for an example of NinjaTrader code generation.

Automated trading strategy development - no programming required:
the search function of PAL can be used to discover price patterns in historical daily or intraday data that fulfill user-defined performance statistics and risk/reward parameters. The patterns can be grouped in any way the user desires and then added to the system tracking module of the program for monitoring daily signal generation. Alternatively, the program can generate code for a variety of trading platforms so that the price patterns can be implemented as indicators or trading systems. When this function is used, PAL serves as a system that discovers trading systems automatically.

Scan markets for high probability setups: The scan function of PAL can be used to determine whether there are any patterns formed that fulfill the user-defined criteria as of the close of the most recent bar in daily data. The main difference between the search and the scan functions is that the former finds all patterns that fulfill the user-defined criteria, provided that the last occurrence falls within a range of bars counted starting from the most recent bar and specified by the user, whereas the latter scans only for patterns that have a occurrence right at the most recent bar. Click here for an example.

P-indicator calculations: The
p-Indicator is an advanced technical analysis indicator based on price patterns. Its values can be used as an indication of the probability of the direction of daily short-term moves.See an example here.

The three main functions of PAL can be used with multiple symbols and parameters for maximum flexibility and power. For example, PAL can scan all S&P 500 stocks using multiple risk/reward criteria with the aim of discovering high probability setups. The p-Indicator function can scan any number of stocks, futures or forex pairs for calculating the short-term probability of directional price moves. There are unlimited possibilities and ways of using PAL.

Program Features

Automatic search for price patterns that fulfill user-defined performance criteria and risk/reward parameters. Search for patterns that are profitable across multiple securities.

Automatic scan for price patterns formed as of the close of the last bar that fulfill user-defined performance criteria and risk/reward objectives. Multiple directory scan capability with multiple risk/reward parameters.

p-Indicator calculations and significance values

Pattern back, forward and portfolio testing capability, including bulk testing of all patterns in the results

Delay pattern search with automatic optimum delay determination

Price pattern database creation and manipulation

Pattern code generation in pseudocode, Quantopian code, EasyLanguage, Metastock formula code, Wealth-lab script, Telechart PCF, NinjaTrader, MetaTrader script and Amibroker AFL.

Grouping patterns for addition to system tracking. Unlimited number of systems allowed.

Signal and open position tracking of user-defined trading systems saved in system tracking.

Unlimited number of search, scan and p-indicator workspaces with multiple data files and parameters.

Intraday price pattern search capability  (use with tick data is not recommended)

ASCII data conversion utilities and intraday data file conversion

File test and maintenance plus a profitability and position size calculator

  Price series statistics, random system simulation and file sample creation functions

Testimonials from real customers

    "I have been using the software and marvel at the features available within it. Bravo to the Development Team and Coders!", A.B., MI

    "I just wanted to say thank you and to mention that the PAL v7.0 with the Gold Add on is working brilliantly for me.", A.F., Italy.

    "Your product is unique and, in my view, quite valuable", J.F., CA

    "I've enjoyed all of Mike's [Harris] books and use of his software and I'm grateful for Mike [Harris] sharing his knowledge on price pattern generation.", P. K., Australia

    "I have been using the software and am very impressed with it.", M.P., United Kingdom

    "I recommend the software because it does what it says in the label, honest!", E. P., United Kingdom

    "Thanks for your help and I want you to know that I am very impressed with the software and your support.", B.W., NC

    "Thanks for an excellent software product, and a different view on trading the markets.", M. B., United Kingdom

    "I would not miss it for my trading. I also would like to thank you for your first class support...For me PAL works and I'm happy that I have bought the software.", W.S. Germany

Customer comments

    "I used an popular GP software to try to develop trading systems and each one of them failed. I wasted more than two years. I like your program because it is different but due to the bad experience I will take a break and will retry in the future with your PAL. Keep up with the good work." H.

    "A colleague has been using one of your competitor's products: [name removed] and been extremely frustrated with real world performance." . L. S., NC.

    "I have purchased other programs [name removed] and have not been able to generate useful systems." M. C., AZ.

    "In my opinion people buy software and want immediate success without work and without thinking about the code of the computer generated strategy. That is the reason why most of them fail..." " W. S., Germany.


08/16/2016: Quantopian code generation in PAL  v7.1  Click here for more details.

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Price Action Lab

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