What is Autochartist?
Chart patterns have been researched on and analyzed in many books. They give traders information on the market and assist them in planning. Autochartist is the new software that traders use to detect chart and Fibonacci patterns. The software/application not only detects chart patterns but also analyzes them to give the end users quality work. The software is fast and delivers the information instantly as it works in connection with search engines like Google.
How does the software work?
The software gives real time information. It is a Windows application that delivers notifications as pop ups whenever there is a new pattern. It works the same way as the Instant messenger and the user can interface with it.
How do traders benefit from Autochartist?
- The software gives both visual and audio alerts momentarily as soon as a new pattern emerges. This gives the trader fast information which they can use during planning.
- The chart shows Forecast Zones automatically on the chart patterns it identifies.
- It shows the success rate of the shown patterns of reaching the Forecast Zones. Here, the software uses Performance Statistics.
- It identifies price levels.
- Shows instant Fibonacci patterns both in audio and visual.
- It gives insights into price, expected price and Average PIP movements that also allows the traders to plan.
Features on the Autochartist application
- Search option-the search is customized and specified on data intervals, symbols and types of patterns.
- Alerts-the alerts are both audio and visual and occur as pop ups. The alerts are come instantly a new pattern appears. The user can switch the alerts ON and OFF at the touch of a button whenever they do not want more patterns.
- Quality gauge-this analyzes patterns to enable newbies get a clear picture of the market and assist them in planning their trade.
- Prediction feature-It forecasts price regions that the trader has targeted; it shows the price movements which changes as the quality of the patterns change.
The application is small in size and occupies a small storage space of your device making it easy to download and install. It does not affect the running of your computer and the alerts are non-intrusive. With the application come great nuggets on how to use chart and Fibonacci patterns to better the trade. There is also a guide on how to use the application and how to customize it to meet your taste. Traders can get a trial version of Autochartist and compare it with their current Metatrader before purchasing the app.
Autochartist supports Forex market only.
Interpreting Quality Indicators on Autochartist
The symbol means the name of the device from which the pattern was derived. Interval means the time period on which the pattern was identified. Pattern end refers to the period, specific time and date, that the pattern was completed. Length refers to the price movement indication on the pattern. Initial trend is the power of a trend that comes before a pattern. Breakout is the momentum in which the price goes through a resistance. Forecast from and forecast to means the price levels, both the highest and the lowest, in a completed pattern.
The user should check out the guide on the application to learn this and other indicators in details.