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

Discover the Power of Price Action Lab™
Become a trading system developer in just one day. No programming required.

Price Action Lab is the only software program that can discover trading systems based on price patterns that have been in the past profitable across many securities (Disclaimer). Only 50 numbered licenses subject to a signed agreement will be sold to qualified individuals and companies. Click here for more details.

Automated Trading System Discovery - Price Pattern Scanner - Advanced P-Indicator Analysis - System Tracker

High probability trading systems exist and Price Action Lab can help you discover them. Price Action Lab™ (PAL) will discover high probability setups in any market and timeframe of your choice in a matter of minutes. PAL analyzes market price action based on user-defined performance statistics and risk/reward parameters and achieves that by searching equity, futures and forex historical daily or intraday 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 functions of Price Action Lab™. Actually, PAL will generate code for you. Please read our disclaimer before considering this program.

AUTOMATE THE TASK OF TRADING SYSTEM 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. Click here for an example of pattern search setup and here for examples of search results.

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. See an example here.

P-INDICATOR CALCULATIONS: the p-Indicator is one of the most advanced technical analysis indicators ever developed. Its values can be used as an indication of the probability of the direction of daily short-term moves. Click here for specific examples of p-Indicator signal generation by PAL. 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 may 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.

Price Action Lab™ does not employ genetic optimizers, genetic programming or neural networks, methods that are known to produce fitted and optimized trading systems that may survive out of sample testing due to chance alone. Unlike some other programs that claim automatic system generation, Price Action Lab™ does not search for random pre-defined pattern formations and it does not perform permutations or combinations of rules and indicators. No lagging indicators, no curve-fitting, no optimization. The algorithm used for the search, scan and p-indicator functions was designed carefully to minimize data mining and data snooping bias. PAL searches for patterns with common characteristics that minimize selection bias. In addition, the program provides a function for out of sample testing and cross-validation. All patterns discovered by the search function can be tested on unused data with a mouse click.

CODE GENERATION: Price Action Lab™ can generate EasyLanguage, Metastock, Wealth-Lab 4, TeleChart, NinjaTrader, MetaTrader and Amibroker code. The code may be combined with other indicators and advanced strategies in those platforms. Click here for an example of EasyLanguage code and here for an example of Amibroker code generation.

Price Action Lab™ has evolved from a pattern search program originally developed by Michael Harris, a well-known trader, trading system developer and author. Version 1.0 of Price Action Lab™ was released during the summer of 2010.

Selected real testimonials from real customers:

"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.", W.S. Germany

trading software, stock trading, best trading software, automated trading systems, machine generated trading systems, algorithmic trading, price action trading, discover trading systems automatically, aps automatic pattern search, profitable trading, trading risk managementg

[Home] [Screen Shots] [Manual] [Pricing] [Demo] [Support] [Literature] [Blog] [Contact]