Chart Pattern & System Module comparison

Don't be confused by the names - these two modules are different yet work well together

The CPRM module (Chart Pattern Recognition Module)

Allows you to see these charts automatically - great if you are new at technical analysis or don't want to examine each chart to find the pattern - its a great visual confirming tool. It will identify 7 chart patterns by highlighting patterns on your charts and creating a column in your Focus List that tells you what pattern has been found next to each symbol.  It only identifies the pattern and doesn’t generate a signal. If you want signals then in addition you will need CPS. It lets you select between varying strength levels to find very precise pattern formations, and it gives you the ability to also display forming patterns on your charts too. Think of this module as a scanning and filter tool. Where all patterns in the data base can be identified and added to your focus list Click here for more details

The CPS module (Chart Pattern Systems Module)

Provides the actual  buy/sell signals.  Its a collection of trading systems using the advanced chart pattern recognition methods found in CPRM2. The result is the new Chart Pattern Systems or CPS Plug-in, representing an awesome addition to OmniTrader's collection of powerful, automated trading tools. CPS automatically generates SIGNALS on the 7 Key CHART PATTERNS! The Module contains a set of 9 new systems and 8 new strategies.  Each of these strategies are designed to generate signals. This is not the same as the CPRM module since its not a scanning tool - it provides trading strategy decisions CPS provides additional trading systems in addition to the standard trading systems included within the OmniTrader package. Click here for more information on the 7 Chart Patterns which Work and examples of the trade management decisions within the software. Click here for more details