Has anyone experimented or know of a way to identify ascending channels in a price chart through Python. I'm trying to find a way to identify when a channel support has been broken and the stock is likely to enter a correction (after running), but given that it's ascending and constantly changing it's difficult to establish what the price should to trigger a short on the decline.
Any suggestions would be appreciated.
Thanks
How about using the indicator Average Directional Index? I got a useful link: http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:average_directional_index_adx
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