Autochartist is a powerful market-scanning tool, which these days is available from a number of Forex brokers.
Autochartist scans, analyses, calculates and delivers live trading signals, identifies certain chart patterns, sends market updates to your trading desk. It could virtually become your own trading experts, which you can always consult with (or at least consider) before making a trade.
What is Autochartist?
Autochartist is a trading software/tool capable of:
- automatically identifying trading chart patterns;
- identifying Fibonacci levels, Gartley patterns which have occurred or are in the process of forming;
- analyzing various trading stats (average pip movement, maximum & expected price movement etc.) ;
- delivering automatically generated trading reports, support/resistance levels;
- generating trading opportunities/ideas, including entries, stops and take profit levels, which traders can then use in trading.
Autochartist for MT4
A web based version of Autochartist is available from within MT4.
This solution requires a custom plug-in to be used for MT4. The feature allows MT4 traders to fully enjoy the Autochartist analysis and reports delivered within MetaTrader platform.
Do you know another Forex broker that offers Autochartist? Please suggest by adding a comment below.
Platforms like this make trading the Forex market a lot considerably easier, they help implement risk management by giving traders the tools to do so (normally in the form of automatic orders) and also allow you to perform technical analysis by providing charting platforms. These platforms are only benefiting the financial trading space.