Insightful analytics to support investment decisions

Before you can use AutoChartist and Trade Central, you need to fund your Forex King account. To do this, click on the “Deposit” button in the main menu and choose your preferred payment method. Forex King supports a variety of payment options, including credit/debit card, bank transfer, and e-wallets such as Skrill and Neteller.

They can also choose whether to focus on breaking important price levels or only following individual formations’ emergence. About Recognia ()Recognia is a global leader in actionable technical analysis and automated quantitative research. Available for more than a decade, Recognia is now accessible to more than 20 million traders and investors globally, providing actionable research and tools to assist in making better investment decisions. For the instrument with currently open chart window, traders have a list of trading opportunities. Clicking on a specific trading opportunity will open a new window with a small chart. There is a chart of the investment instrument, a display of the particular formation representing the trading opportunity and the time when it occurred.

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Its analysis is based on algorithms, which it seamlessly integrates into trading platforms such as MT4. Support and resistance levels are the building blocks of technical analysis, and many effective trading strategies can be based around them. This is because support and resistance are like glass floors and ceilings which are often seen to limit a market’s range of movement.

The technical analysis is based on end of day pricing and looks for short to medium term trends in the market. Their longest indicator has been running since 1963 and measures professional sentiment (not social media) to show when the market is over bought or oversold, allowing clients to trade or hedge appropriately. Autochartist relies on chart analysis as well as support and resistance levels to suggest emerging trends and options for trade.

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From the graphical and verbal explanation of the pattern, it should then be clear to traders what is happening in the market, which direction prices could go, and the target price. This gives traders a relatively complete picture of the situation in each market and where interesting opportunities to enter the market arise. The Trading Opportunities interface helps you search for and recognize trading opportunities and identify technical formations, important price levels, etc. In the Settings menu, traders specify which group or individual instrument they want to follow. The main feature of Autochartist is that it can automatically scan the markets on your behalf, identifying new opportunities that you might have otherwise missed.

The third window, Performance Statistics, then displays statistics that measure the success of patterns and the reaching or breaking of key price levels for each instrument group. 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.

Trading Central

These indicators have a ‘Patent Recognition’ technology, working based on trade algorithms, constantly refined for high performance. The tick box labelled ‘Display all symbols’ will display all relevant symbols or instruments that Autochartist has identified for your broker, based upon the “Market Watch” in your terminal. 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 a world where trading conditions and customer support can vary based on where you live, our broker reviews focus on the local trader and give you information about these brokers from your perspective. One of the main advantages of TradingView over Autochartist is its ability to execute trades.

  • It will also scan Chart Patterns such as Triangles, Wedges, Head-and-Shoulders and Channels.
  • In the Settings menu, traders specify which group or individual instrument they want to follow.
  • While select brokers will offer Autochartist on all account types, it is more common that brokers offer Autochartist for free on limited account types.
  • Consecutive Candles
    Identifies instances when excessive amounts of candles have closed in the same direction – signalling a possible reversal.
  • Autochartist is well-known tool traders use to find and identify trading opportunities in real-time, analyze volatility, etc.

While Autochartist can highlight a potential trade and give you information about possible changes, it is the trader who has the final say about opening and closing positions. With TradingView, by contrast, you can see the buy/sell button directly on your chart. Connecting digital wealth brands with the tools they need to growth they business and help their investors form confident, educated decisions.

Planning a trade

The cTrader trading platform excels over the MetaTrader 4 mainly in the realm of price alerts. These are much more sophisticated and intuitive than their MT4 counterpart. And the reason why is the server-based synchronization of cTrader data, enabling all the cTrader platforms (mobile, web, desktop) to be in sync at all times. The mobile platform of MT4, however, needs to be manually connected to the MT4 desktop in order to create a functioning and fully synchronized price alert. After installing the plugin and opening MetaTrader, Autochartist is located in the Navigator window on the left side, under the Advisors menu. After dragging to the chart or double-clicking, an additional window with trading opportunities will appear in the chart window.

autochartist vs trading central

It can alert you to opportunities by using technical indicators such as Fibonacci retracements as part of its market scanning capabilities. While select brokers will offer Autochartist on all account types, it is more common that brokers offer Autochartist for free on limited account types. Acuity Trading, headed up by Andrew Lane, provides sentiment based analysis direct and through brokers to traders. Acuity trading has been trading since 2013 and uses a combination of machine learning and natural language processing technology to automate the process. With Market Replay, users can test their trading ideas and approaches based on historical tick data.