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 |