What is AutoChartist and how does it help forex traders?

IC Markets is an online forex broker operating under the company of International Capital Markets Pty Ltd. What may look like a valid signal to one trader, may be a complete opposite signal to another trader. It really depends on what your individual trading strategy is and your goals are. Autochartist can send you alerts when there are excessive movements in one direction. This flexibility allows you to be alerted to the most relevant trading opportunities and then back test them against historical patterns. This can give us a rough idea of how they may have performed historically but is of course not an indication or guarantee of future results.

Today, AutoChartist is used by the largest and most successful online retail brokers and financial institutions. Navigating the complex world of trading strategies, the CEO illuminated how Autochartist’s patterns translate into actionable insights. Demonstrating the art of placing stop-loss and take-profit orders around identified breakout levels, he underscored the significance of aligning strategies with prevailing market conditions. Patience and adaptability emerged as key tenets for successful trading.

Autochartist creates a product for brokers powered with TradingView Advanced Charts

Autochartist uses the Golden Ratio Theory to do this, which makes it very reliable. Based on the explanation above, we can see that Autochartist has reached a vast amount of traders through various types of brokers, from the beginner-friendly InstaForex to the major ones like Saxo Bank. These brokers provide free access to Autochartist for their clients, each with different conditions and requirements. The London-based company has a mission to provide clients with the best possible trading environment, so clients can focus on trading and become successful traders. One way to reach its mission is to offer a fast-execution of 0.15s. With this facility, it’s no wonder that Tickmill gets the 2019 Best Forex Execution Broker award by the CFI.co Awards.

• If you’re interested in a particular timeframe or pattern type, use the Filters
  option to customize the market activity you see.
• Please ensure you fully understand the risks and take care to manage your exposure.
• Traders will be charged a fixed spread every time they make a transaction.
• For example, traders can get live and historic reports of net holdings.
• As a multi-asset online brokerage, ThinkMarkets present a wide range of trading assets starting from Forex to Precious Metals, Commodities, Indices, Shares, and Cryptocurrencies.
• Just remember to always conduct your own analysis and confirm each signal before taking any trade.
• Autochartist scans the markets and presents you with potential trade possibilities exactly when they happen, providing you with information that you can actually use.

As an example, it may identify that a currency pair (e.g. USD/JPY) has become highly volatile following an announcement by the US Federal Reserve (Fed) or the Bank of Japan (BoJ). 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). In this webinar, Ilan Azbel, the CEO of Autochartust will show how to find trading setups and key volatility areas to take advantage of emerging opportunities using Autochartist. 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). CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage.

Business Model Acknowledgment: The company is a prop trading firm and does not onboard retail clients

The classic head and shoulder’s top and bottom formations, for example, are accepted reversal trading signals. Other chart patterns Autochartist highlights are channels, wedges, triangles, Harmonic (think Gartley and Butterfly patterns) and Fibonacci studies, key levels, and double tops/bottoms (see figure 1.A). Fibonacci and chart patterns, with the help of PowerStats, will help you to set your stop-loss and take-profit levels. It can also give you enough information about the risks of trading certain instruments.

Auto chartist is a tool that helps you to get the collated data and understanding it using simple charts and key points. Autochartist Key levels identify horizontal support or resistance levels at significant price levels. This is the most popular analysis type as it is loved by all types of traders. It is simple to understand and ideal for the new trader and very valuable for more experienced and advanced traders. The pattern-recognition capabilities of Autochartist are a significant benefit of the software. For instance, Autochartist can analyse different candlestick chart patterns using the Ichimoku Cloud, Bollinger bands and Fibonacci retracements – as well as a host of other technical indicators.

Forex trading costs

You could simply fire up the MetaTrader app on your mobile device and take a trade from there when you do receive an Autochartist alert. Set your stop loss outside expected volatility ranges to prevent getting stopped out. Stay on top of upcoming market-moving events with our customisable economic calendar. The reason these levels appear is due to the balance between buyers and sellers, or demand and supply. Autochartist comes with several benefits, but there are a few disadvantages as well. As we have mentioned, it is a technology designed to keep track of all market activities 24-7.

Look for the SIGN-IN TO MOBILE APP tab in the technical analysis area. Once you click on it, use your mobile scanner to scan the QR code that pops up. Click on ok, and on the pop-up options, click on the tab with the mobile phone icon.

Features of Autochartist

When using a demo account, remember that AutoChartist is not set in real-time. You experience the same functions as a live account but there is a slight delay in functionality. 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.

In practice, sometimes charting can be an overwhelming task for traders because price charts are not easy to read, especially if traders must analyze them manually. However, there is one tool called Autochartist that could help traders with such issues. Self-confessed Forex Geek spending my days researching and testing everything forex related.

Identify and react to market movements that are not typical for the instruments you trade

For traders who prioritize the value of spreads in broker selection, Tickmill provides excellent services with low spreads, starting from 0.0 pips. There is no minimum deposit or minimum balance required to open an OANDA account. OANDA provides a variety of payment method facilities, including Paypal, Wire Transfer, Credit Card, and Debit. The company never withdraws Requotes so traders can get maximum profit. When traders are unavailable to monitor open positions, they can set take profit orders to lock in profits and Stop Loss orders to help protect against further losses. The trader can also help themselves with trading calculators provided on the InstaForex website.