Autochartist covers Forex, Equities, Futures, CFD and Spread Betting markets, automatically identifying technical chart pattern formations such as triangles, wedges, tops and bottoms.
Users are notified by audio and visual alerts when emerging and completed patterns are identified. The pre-drawn charts are easily understood as support and resistance levels are clearly illustrated.
A truly versatile tool, Autochartist Chart Patterns allows newer traders to incorporate technical analysis into their trading plans, while still offering seasoned traders the powerful scanning functionality which saves them time and highlights trade opportunities that may otherwise be missed.
Autochartist automatically identifies Fibonacci Patterns and visually illustrates the levels at which support or resistance is expected according to the theory of the Golden Ratio. Such levels can play an instrumental role in setting stop-loss levels and determining trading objectives.
From straight forward extensions, retracements, and ABCD patterns, to more sophisticated setups like Gartley and Butterfly formations, Autochartist also has the ability to identify patterns that are in the process of forming. This highlights to Fibonacci traders where they need to focus their attention for the next high-potential trade opportunities.
The PowerStats toolkit provides traders with insight into the relative movements of forex instruments. This is very helpful when formulating new trading plans, or refining and re-evaluating existing strategies.
For example, PowerStats offers:
- Average pip movement in specific time frames
- Likelihood for upside or downside momentum (based on history)
- Maximum expected price movements (statistical highs and lows) across various time frames
- Expected price movements over weekday and hourly time frames
As an important Autochartist feature, together with Chart and Fibonacci Patterns, PowerStats helps traders to set stop loss and take profit levels, as well as helping them figure out risk and choosing the appropriate instruments to trade.
The technical analysis of horizontal support and resistance is based on levels where price will repeatedly reach lows (support) or highs (resistance) and are measured over periods of time, which is why the levels appear horizontally on a price graph.
Important price levels are identified and signals users when price approaches or breaks through support or resistance. Both these types of signals Ð Breakouts and Approaches Ð are delivered in real time.
Autochartist Market Reports are automatically generated using the trusted Autochartist Pattern Recognition Engines. Comparable in every respect to technical analysis reports delivered by human analysts (except that they contain no bias), they are delivered at an absolute fraction of the cost.
This allows brokers to provide timely reports (with the option of white-labeling) either via email or web, in a variety of languages. The markets and instruments covered in the reports can be pre-determined, to make the content relevant to a particular audience.
Money managers also benefit from Autochartist Market Reports by demonstrating to their customers that they are maintaining focus on what is happening in the markets throughout the trading day.In summary:
- Delivered at pre-determined times and in regular intervals
- Customizable for certain markets/instruments
- Wide variety of languages
- Can be white-labelled
- Delivery either via web or email
All features of Autochartist can now be delivered to your MT4 application via a custom plug-in that takes 30 seconds to install. This includes Chart patterns, Fibonacci patterns and PowerStats.
- Traders can now also easily launch the web-based version of Autochartist from within MT4 without needing to sign on again.
- Potential broker partners are no longer required to allocate any technical resources to have Autochartist as an offering to their account holders.
- This way of delivering Autochartist signals is particularly appealing to traders that regularly use MetaTrader and to whom Autochartist plays an important role in trade execution.