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

Please ensure you understand how this product works and whether you can afford to take the high risk of losing money. Autochartist is a program which can identify chart patterns using technical indicators such as Fibonacci retracements. It monitors the markets 24 hours a day, alerting you to trading opportunities in real time. Autochartist is often used on the MetaTrader 4 (MT4) platform, and you’ll get it for free when you download MT4 from IG.

• AxiTrader is not a financial adviser and all services are provided on an execution only basis.
• • Automated technical analysis
    Early identification of Chart Patterns, Fibonacci Patterns and Horizontal Levels.
• Boost your sales numbers by empowering your team with relevant content on-demand.
• 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.
• The reason these levels appear is due to the balance between buyers and sellers, or demand and supply.

Autochartist helps remove the clutter – you choose the number of trading opportunities you’d like to see, filtered by highest probability of success. Once you have created an IG account and downloaded MT4, open the platform and log in. Autochartist can be found within MT4 by going to the ‘navigator’ window and clicking on ‘scripts’. Autochartist can also alert you to opportunities that you might not usually consider. For example, it might identify that a currency pair – USD/JPY for example – has become highly volatile following an announcement by the US Federal Reserve (Fed) or the Bank of Japan (BoJ).

Ready to trade?

By providing you with alerts, Autochartist can make it less likely that you will miss out on an opportunity to profit. The developer, Autochartist, indicated that the app’s privacy practices may include handling of data as described below. Simply log into your secure client area and click on Trading Tools to explore Autochartist. Receive automatic notifications from Autochartist when emerging and completed Chart Patterns such as Triangles, Wedges, Tops and Bottoms are identified. Visit the Autochartist Trading Community centre and access a wealth of informational material and how-to videos to become an Autochartist master.

Apart from a few more detailed information, traders can also execute an order directly from this window, but only in the direction of the signal. To do this, they can choose whether they want to see all the technical analysis tools that Autochartist uses or select only some of them (supports/resistances, Fibonacci patterns, classic chart patterns, etc.). They can also choose whether to focus on breaking important price levels or only following individual formations’ emergence. Use Volatility Analysis to help you set appropriate take profit and stop-loss levels based on expected market volatility.

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A good risk management tool can help you on the journey to successful trading – and we believe that Autochartist’s Risk Calculator is one of the best available. It provides you with expected market movements ranges for the next hour, 4 hours and 24 hours, and guides you to the trading volume you need to set in order to remain within your risk tolerance. Utilise statistics and technical indicators to analyse a system’s historical performance over a 6-month timeframe – giving you an overview of which patterns reached their target forecast. Optimise your stop loss and take profit levels, assess risk and get statistical information about price volatility of your preferred Forex and CFD instruments.

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.

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Plus, you’ll discover information like the time of day at which markets are most volatile and how to select instruments which fall within acceptable risk parameters. In the main window, traders can see charts with unique trading opportunities. Since Autochartist tracks charts on 15M and above timeframes, there is a batch of new opportunities on different investment instruments every 15 minutes.

In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.

Features of Autochartist

For more information check out the MT4/5 plugin installation guide or watch how to use the Autochartist plugin. Stay on top of upcoming market-moving events with our customisable economic calendar.

You should read and understand these documents before applying for any AxiTrader products or services and obtain independent professional advice as necessary. Review performance statistics for the previous six months to see which trade setups worked and which didn’t. While it can highlight a potential trade, it remains up to you to open and close your positions, perhaps in line with what Autochartist has suggested or made you aware of. The MetaTrader box leads to a window where you can find a link to download the plugin for MetaTrader 4 or 5. You can also find a link to instructions on installing and using the service within the MetaTrader application.

Plan your trading

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.