What is Autochartist?
Autochartist is an award-winning automated technical analysis tool implemented on the MetaTrader 4 trading platform that identifies trading opportunities across hundreds of financial instruments.
Start Using Autochartist with MetaTrader – Seize your trading opportunities now!
Autochartist was founded in 2004, and they have offices located in both Cyprus and South Africa .
Autochartist initially served only the US equities market, but it has expanded to serve the entire online financial assets trading industry; from stocks, futures and commodities, to forex, indices and cryptocurrencies.
The company now operates in more than 80 countries and generates more than 2 million charts, viewed and used by traders every month. It is also estimated that Autochartist sends an average of 400,000 potential trading opportunities every month across all the asset classes it tracks.
As a world leader in automated technical analysis, the Autochartist proprietary technology allows it to continuously scan the intraday markets. Its advanced recognition engine not only identifies the strongest potential trading opportunities around the clock but also helps to predict future price movements.
Autochartist’s proprietary technology is grounded on technical reviews which are based on psychological market behaviour. Its algorithms are programmed to accurately track the formation of tradable chart patterns and Fibonacci levels, as well as develop opportunities based on the Elliot Wave Theory.
Whether you are a new or experienced trader, Autochartist will no doubt help you enhance your trading career. Subscribing independently to the software services comes at a small monthly cost, but the service is free for all AvaTrade traders who own a live account. The best part is that the software is compatible with both MT4 and MT5 desktop platforms as well as the mobile platform.
Watch the video to learn more about Autochartist
 Chart pattern recognition | Identifies chart patterns of all types – both emerging and completed – with a pattern quality indicator to help you make the right decision. |
 Fibonacci pattern recognition | Automatically identifies a range of simple and complex Fibonacci patterns, from retracements to butterflies. |
 Key level analysis | Autochartist helps you to set stops and limits by identifying support and resistance levels. The software classifies levels as either breakout or approach. |
 Pattern Quality Indicator | A set of four visual indicators that allow the user to tell, at a glance, the probability of a pattern completing. |
| Quality Risk Management Tools | Optimise your stop loss and take profit placements by utilising a set of 3 risk management tools that come packed with Autochartist: Risk Calculator, Volatility Indicator and Statistical Analysis tool. |
Whatever your trading style is, Autochartist takes the time and complication out of performing sophisticated technical analysis – so you will never miss a trading opportunity.
Start Using Autochartist with MetaTrader – Seize your trading opportunities now!
Autochartist is fully integrated into the MetaTrader 4 & 5 trading platforms and is available free of charge for clients who deposit from as little as $500 USD.
Speak to your account manager about adding Autochartist to your MetaTrader 4 trading platform.
How to Install and Use Autochartist
Installing and using Autochartist on MT4 and MT5 is simple and straightforward.
Follow the easy steps below:
Installation on MetaTrader 4 (MT4)
- Select the language you wish to use.
- Choose the MT4 account you want to have the Autochartist plugin installed upon.
- Follow the prompts by clicking ‘Next’. You will be required to enter your email address to complete your installation. Daily technical forecast reports will be sent to the email you provide.
- Restart your MT4 to start using Autochartist.
For MT5, follow the steps below:
- Open your MT5 platform and click on ‘Tools’ in the Menu item.
- Click ‘Options’.
- Click on the ‘Expert Advisors’ tab and check the ‘Allow Web Request for the listed URL’ box.
- Double click on ‘Add new URL’ and type the URL: https://mt5.autochartist.com
- You will also be required to provide your email in order to complete the installation.
Autochartist Usage
Once you install Autochartist, restart your MT4 or MT5 platform. Autochartist will be found on the navigation pane under the ‘Expert Advisors’ tree node. Simply drag it onto your chart to start using it.
Autochartist will display visual patterns and key levels on your chart in real-time, but there will also be the plugin’s main window on the bottom left of your chart.
The main window helps you customise what type of trading opportunities you wish Autochartist to display for you. You can customise the type of assets to scan, minimum probability of trade setups to display, the type of chart patterns to look out for as well as the maximum quantity of historical data the software should take into account.
Autochartist also comes integrated with a Volatility Indicator, Statistical Analysis tool, as well as a Risk Calculator to further enhance your trading activities.
Advantages of Autochartist
Autochartist provides many benefits to traders, including:
- It produces high-quality trading signals based on high probability chart patterns, Fibonacci levels and the Elliot Wave theory.
- It helps traders save a lot of time analysing the markets as it scans the market across all assets and timeframes for actionable trade opportunities.
- It is highly customisable, ensuring that traders enjoy maximum control over their trading activity.
- It is compatible with both MT4 and MT5 (by MetaQuotes).
- It provides visual indicators in real time, which can help traders learn how to identify various trade opportunities as they develop in the market.
- It makes risk management easier for the trader.
Autochartist services and content is provided for informational purposes only. The information presented does not take into account any individual’s personal circumstances, investment objectives, or risk tolerance and does not form a recommendation to trade by AvaTrade.
Start Using Autochartist with MetaTrader – Seize your trading opportunities now!