07 Apr What is Autochartist and How do You Use it? IG International

Autochartist is a powerful pattern-recognition tool which automatically monitors the markets on your behalf. Learn more about Autochartist, including its features and benefits, as well as how to use it in your trading. When the Display All Symbols box is checked, opportunities on all instruments will be displayed. When the View option is clicked, the active chart will change to the symbol to which the opportunity relates. When the Display All Symbols checkbox is unchecked, traders will only see signals and formations related to the symbol whose window is currently active.

Autochartist gives traders access to opportunities that have the highest probability of hitting the target forecast. Every opportunity is evaluated against past performance with respect to the pattern type, the instrument and the time of day it was identified. Autochartist can save you a lot of time that you would otherwise dedicate to scanning the markets manually. Support and resistance levels are the building blocks of technical analysis, and many effective trading strategies can be based around them. This is because support and resistance are like glass floors and ceilings which are often seen to limit a market’s range of movement.

What is the number one mistake traders make?

Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. For the instrument with currently open chart window, traders have a list of trading opportunities. Clicking on a specific trading opportunity will open a new window with a small chart. There is a chart of the investment instrument, a display of the particular formation representing the trading opportunity and the time when it occurred.

For more info on how we might use your data, see our privacy notice and access policy and privacy webpage. Autochartist never stops searching for trade opportunities, leaving you free to focus on other things. IG International Limited is licensed to conduct investment business and digital asset business by the Bermuda Monetary Authority. Discover why so many clients choose us, and what makes us a world-leading provider of CFDs. Discover the range of markets and learn how they work – with IG Academy’s online course.

Benefits of Autochartist

Activation and retention of your traders is all about maintaining interest and encouraging engagement through the tools and content you offer. Our high probability setups, actionable content and risk management tools offer two highly effective ways to keep your traders interested and encourage them to trade. Boost your sales numbers by empowering your team with relevant content on-demand.

Not only does it remove many time-consuming tasks, but advanced components like Performance Statistics, Volatility Analysis and Price Range Forecast inform your decisions and drastically improve your trading efficiency. With filters and customized searches, you can adapt the tools to your trading style. Automated trade alerts greatly simplify the trading process and all trading opportunities are assigned a quality score to help you decide if you should take advantage of a particular opportunity. With additional features such as Webinars, Market Reports and the Trading Community Tab, Autochartist is a compelling learning tool.

Autochartist summed up

The risks of loss from investing in CFDs can be substantial and the value of your investments may fluctuate. 72% of retail client accounts lose money when trading CFDs, with this investment provider. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how this product works, and whether you can afford to take the high risk of losing your money.

Technical analysis is the most popular way forex traders use to determine when to open and close their positions. FTMO has partnered with Autochartist to bring our traders exclusive access to analytical services for recognizing trading formations, Autochartist. Get information including time of day when markets are most volatile, how to set appropriate exit levels and how to select instruments that fall within acceptable risk parameters. The main feature of Autochartist is that it can automatically scan the markets on your behalf, identifying new opportunities that you might have otherwise missed. Its analysis is based on algorithms, which it seamlessly integrates into trading platforms such as MT4.

Autochartist MT4 Plugin

The Autochartist search pane enables users to define the parameters of the markets that the program scans. It can be tailored to your individual trading style, or you can use it to search markets that are less familiar and find opportunities that you may not have otherwise thought about. Alpari is a member of The Financial Commission, an international organization engaged in the resolution of disputes within the financial services industry in the Forex market. Explore the range of markets you can trade – and learn how they work – with IG Academy’s free ’introducing the financial markets’ course. AxiTrader Limited is a member of The Financial Commission, an international organization engaged in the resolution of disputes within the financial services industry in the Forex market.

Autochartist is well-known tool traders use to find and identify trading opportunities in real-time, analyze volatility, etc. With this service, FTMO clients will have access to interesting and proven statistics that can help them achieve better results and better understand the functioning of technical analysis. It includes features meant to help traders educate themselves, base or support their trading decisions or provide additional insight into technical setups or market volatility. No information displayed is supposed to constitute a trading recommendation or investment opportunity. This information has been prepared by IG, a trading name of IG Markets Limited.

Analysis

For each instrument, traders can see the expected range for the next hour, 4 hours and the following day, both in a numerical and graphical display. In addition to this, Autochartist still offers a view of the average volatility of the instrument on each day and each hour within the trading day. Traders thus have a good overview of when they can expect more activity in the market and adjust their market entries accordingly. First and foremost, Autochartist is an automated market scanning program, designed to save you time by analysing the markets on your behalf. It can alert you to opportunities by using technical indicators such as Fibonacci retracements as part of its market scanning capabilities.