Making better trading decisions is easier with an analytical software Autochartist. Receive regular trading signals, review and react.
- Gives trading signals
- Free to all verified clients
- Recognizes patterns
- Used in MetaTrader 4
How to get it?
It is available in the MetaTrader 4 platform as an additional indicator, through a website as an informational and analytical tool. Autochartist is available also on the mobile application. All verified clients will get this powerful software for free. Register account and verify it. Once your account is verified go to your Trader Room “Analytics” section and choose tab “Free Autochartist MT4 Plugin”.
Autochartist software features
It is a huge section of technical analysis that every trader needs to learn. It could take some time and a lot of experience in markets, however, don’t be discouraged. Autochartist will help you not only by showing how chart patterns look like, but it will constantly teach you how to identify patterns in trading.
Identification of Fibonacci Patterns with Autochartist is automatic. You will be able to see visual illustration of the levels at which resistance and support is expected with assumption of the Golden Ratio theory. These levels could play key role during setting trading operation (for example, when stop loss or take profit parameters are needed to be set).
Apart from retracements and straightforward extensions, Autochartist also can determine patterns that are only in the status of forming. These features could help and emphasize to traders using Fibonacci where they need to take a closer look and focus on future trading opportunities.
Horizontal lines of resistance and support are also known as key levels. With time, market participants fit in their decisions points linearly so the point of price at which they can buy or sell could be proportionally lower or higher with time. However, with the key levels price level could stay the same all along the line.
There are five different quality indicators for chart patterns, 4 of the 5 measure their visual quality. They evaluate the pattern’s characteristics, which you see on the chart. As traders gain more experience in the use of the chart patterns, they learn to instantly notice these visual characteristics. But for those, who are just starting to work with price figures, these indicators may be very useful for making trading decisions.
Autochartist recognition system allows to find chart patterns instantly, when they just touch the last point or resistance and support lines required to complete the shape of the pattern. It means that shape of a pattern has been already identified, however it is still unclear if support or resistance lines are to be broken through.
This is the main difference between an emerging (forming) and full pattern — when an forming pattern is determined, price could be between the resistance and support line, but if the pattern is full, that means the price was broken through these lines.
All data and information that is provided by Autochartist is not a trading recommendation of Forex4you. Share4you and Forex4you has no responsibility for the trading results of clients that are using information from Autochartist and is not responsible for any inaccuracies or incompleteness of the data provided by Autochartist.