Autochartist - support for your analyzes

Autochartist is a platform designed for traders of various levels. Its support can be fully used by experienced traders, and it will be a source of invaluable help for beginners. What can we find on Autochartist and how much does it cost? And most importantly - is it worth it? We answer.

The main window of the Autochartist

The group of brokers offering access to Autochartist include IC Markets and Tickmill. The software can be downloaded directly from the Client Panel of the selected broker.

The platform was created in the cradle of the European Forex market for retailers - in Cyprus. The product itself is only indirectly offered to traders. The link is a broker who concludes a contract with solution providers, and then he can offer it to his clients. The aim of the creators was to develop a tool for analysts and investors that will allow you to easily grasp a huge number of instruments and spot potential opportunities for specific bets. And I must admit objectively - the goal has been achieved.

The first the impression does not demonstrate the full potential of this product. Only after familiarizing yourself with the functions that are available in individual tabs, and after biting into the data presented on the platform, you can see what a powerful analytical tool we are dealing with. Performance statistics, evaluation of the quality of signals, calculations related to their length, updating their status, and even indicating a potential destination - it can be concluded that the trader has nothing to do :-).

Remember that the platform only searches for potential gambling opportunities based on coded algorithms. The indications presented on the Autochartist are not recommendations nor do they guarantee any profit from the presented scenarios.

Web or MetaTrader 4

Autochartist comes in two variants - version Website and the installation version for the platform MetaTrader 4. Thus, the platform does not close to one application, although you can feel that receiving a dedicated plug-in MT4 users are treated preferentially. Nevertheless, this version is definitely less transparent and has limited functionality. The browser version looks much better and is much more convenient to use. Autochartist can be tested by opening a demo account in IC Markets.

Autochartist MT4 plugin

The main features of the platform:

• Observation of instruments over 8000,
• Automated analysis process,
• Updating analyzes / data for all instruments every 15 minutes,
• Creating your own watch lists of instruments,
• 3 market reports daily (Tokyo, London, New York),
• Email notifications / SMS / WhatsApp about macro events and about correlations that occur,
• Available in 23 languages, including Polish.
  

  Configuring notifications

Autochartist - Why is it worth it

Analysis of effectiveness

That's it as part of the introduction. Now let's get to the details, which is what the platform really offers us.

1. Technical analysis. Information on the classic technical analysis being created and already created (flags, flags, triangles, wedges, channels),
2. Fibonacci Formations. Detection of not only key levels that may be a potential support / resistance but also the creation of whole formations (eg ABCD).
3. Support and resistance. Information on approaching or breaching significant levels.
4. Analysis of volatility. Information on the volatility of all instruments that will help to estimate the risk and better select SL / TP parameters for the selected symbol.
5. Performance evaluation. Statistics informing about the effectiveness of all formations on selected instruments from the last 6 months.

Analysis of effectiveness

Before the blast of optimism goes off… Without a shadow of a doubt, this is a great tool, but not everyone will benefit from Autochartist. First of all, it will not be useful for traders using proprietary strategies, machines, trading on a small (1-3) number of instruments or low intervals (below M15). The minimum candle interval is 15 minutes. Therefore, day traders, and scalpers in particular, will be able to use the data presented on the platform to assess the overall market situation. This is definitely a solution prepared for people who prefer to hold positions for at least a few hours to several or even several days.

Access to Autochartist

You could say that access to the website is free - because it is. But there is also a catch. The full-fledged version is offered by brokers only to clients with real accounts. People using demo accounts can also use Autochartist, but the quotes are delayed by 5 candles. As you know, in such a dynamic market as Forex, it is too much to effectively support a trader. Therefore, if we really want to use this platform, we must open a real account - even if we do not plan to trade on it (no payment is required).