Market scanners like Autochartist are constantly used by professional traders to scan and find stocks, bonds, currency pairings, and other assets that meet their investing requirements in the financial markets. Although a seasoned Forex trader may simply browse through charts to discover trading opportunities, this may not be the case in the case of a rookie trader who is just getting started. Even a good trader may overlook certain winning trade setups if the number of asset pairs under consideration exceeds a certain threshold. Consequently, it would be advantageous to have automatic software that monitors all traded assets in real-time and displays a visual representation of the finest trading possibilities available.
Autochartist is a technical analysis trading program that was first introduced in 2002 to assist the traders of the Johannesburg stock exchange. It makes use of financial data to offer traders important trading recommendations. It provides a variety of apps to improve trading performance, ranging from mobile applications to trading platform plugins.
What Exactly is Autochartist?
Financial analytics company Autochartist Limited (Ltd) develops technological solutions based on financial data and delivers them to businesses and individuals. This contains a number of technical analysis methods that may be used to help with volatility and risk assessment.
The fact that Autochartist is an interactive charting tool, similar to TradingView, does not preclude it from providing various functions that assist traders to stay on top of the current setups and trends. If you’re interested in trading in forex, binary options, gold, stocks, or cryptocurrencies, this tool can help you analyze the market in any way you see fit.
How Does Autochartist Work?
Traders are not eligible to apply for Autochartist directly; instead, they must register with a partnering broker in order to have access to the services. Its services are widely available via online, mobile, and desktop programs, including those for Windows and Mac, as a result of the company’s integration of its services into the MetaTrader 4, MetaTrader 5, and cTrader platforms. Traders also have the opportunity of testing out the services with some brokers for free by using their demo account.
Autochartist Key Features
Autochartist is a set of trading tools that may be used individually or in combination with one another to improve overall trading success.
Traders may use the Autochartist interface to look for trading opportunities for particular ticker symbols by entering the symbol into the search box. The clarity of the chart pattern, the starting trend, the volume of the chart pattern, the uniformity of the chart pattern, and the strength of the breakout are all evaluated by the interface.
Plugins for Trading Platforms
Pre-built trading charts (plugins) from Autochartist may be linked into trading platforms like MetaTrader 4 and 5 and Thinkorswim through API.
MT4 and MT5 come with a risk calculator built in, which may be accessed for free after installation. Besides trading signals and indicators, it can be accessed via web applications. It’s designed to keep traders from suffering huge losses by offering the highest possible trading volume within their predetermined appetite for risk.
There is a simple way to access MetaTrader plugins with Autochartist. The.ex4 file can be downloaded from the website and placed in the ‘Experts’ folder in Metatrader according to the installation instructions. To begin the download, simply drag the robot (Expert Advisor) installer directly onto a trading chart.
As many as five times a day in several languages, the Autochartist Market Report email provides information on high-impact market events, current trading indications, and the most recent market indicators.
Correlating Signals Email
Autochartist settings are explained in great depth in the email alerts, which have a lesser frequency than market reports, but may be of greater use to traders.
SMS and Push Notifications
Text messages or push alerts can be used to deliver trading information to a mobile phone. In addition to links to your mobile trading platform, SMS messages contain links that allow traders to enter or leave a position quickly and conveniently.
You can get the Autochartist app for iOS devices (iPhone/iPad) or Android devices (Google Play Store) (APK). Traders can select their broker and receive trade setups based on the broker’s data by using this service, of course. Using a QR code instead of a login and password eliminates the need for users to remember them.
There is unfortunately no direct assistance for traders, therefore Autochartist’s response time via email is 48-72 hours. You may want to contact your broker if the service isn’t working.
Autochartist – A Valuable Tool?
An extremely well-regarded service, Autochartist, is pre-installed on the trading platforms of many brokers at no additional cost to traders. In addition to offering useful insights and setups, the training academy also provides instructional resources. Customers can get a better idea of how Autochartist can benefit their trading by looking at previous results. Use of the service is risky and should not be considered a surefire means to pay the bills, like any trading.