Autochartist is a software platform available on MT4/MT4 PC (Windows only), used by traders to locate technical analysis patterns such as Head and shoulders, Double tops, Double bottoms, Cup and handle, Wedges, Triangles and Fibonacci retracements. Autochartist scans patterns 24 hours per day, and trading alerts are available to traders in real-time. Traders can also benefit by using supplementary Autochartist functions such as Volatility Analysis, Risk Calculator and Correlation Alerts.
Autochartist is an automated trading pattern recognition tool, used by technical analysts and traders to find trading opportunities without having to manually analyse the markets. Screened technical patterns are scanned by Autochartist in real-time using artificial intelligence manner.
However, the trader retains full control of their trading decisions as they choose whether or not to enter a trade based on Autochartists’ analysis. This differs from many MT4 Expert Advisors (EAs) which scan, select and fully automate trades on the user’s behalf. Therefore, Autochartist can be seen as a useful tool to a discretionary trader, as it aims to complement their analytical process and help generate trade ideas without replacing the trade execution part of the process.
Therefore, whilst Autochartist is a valuable addition to highlight potential trading opportunities, it is suggested that traders perform their own research to better align trading opportunities identified by Autochartist with the trader’s style and strategy.
How to Use Autochartist