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No, but the thought process behind Turtle Soup - figure out what other traders are doing and work out how to trade against them - is robust and the way I predominantly think these days.



I tend to agree with you here, and also acknowledge other points in this thread as to exactly what a breakout/breakdown is.


There are significant limitations in what you can code and thus mechanically backtest for an entry. I have to this date never seen mechanical code for a breakout which enhances system performance in a significant manner.


This limits any conclusions you can draw about the effectiveness of such entries as the evidence is mostly anecdotal and in the form of "look at this particular chart" - it is not particularly helpful to look at when the pattern works out. Rather, you want to know what happens when the pattern doesn't work out and whether the R:R is worth it overall.


One particular pattern that has caught my eye of late is a breakdown through a double bottom - a nice example has been posted in this thread. Coding a breakdown through a double bottom to test the hypothesis...now THAT'S hard.


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