What is Autochartist?
Autochartist Ltd is a financial analytics company that provides technology solutions based on financial data. These include several technical-analysis tools that help traders cope with volatility and risk analysis. The tools provided by Autochartist can be used by CFD traders to conduct market analysis on a wide variety of financial instruments, from forex to stocks to gold and cryptocurrencies.
Why use Autochartist?
- Recognising patterns in any market is difficult, particularly during periods of volatility. Autochartist software helps traders by identifying these patterns – and thereby trading opportunities – automatically.
- The company serves financial institutions and firms as well as brokers, highlighting the value that professional traders and investors place on its analysis.
- Autochartist saves time, which can be vital in fast-moving markets. Traders can spend much time analysing the market before trading and so miss opportunities. Autochartist scans trends in an instant, identifying patterns and alerting traders to potential opportunities.
- The Alert function means that traders are less likely to miss opportunities when the market becomes very volatile due to a sudden change in government policy or some other market-moving event.
Which trading platforms support Autochartist?
A large number of trading platforms support Autochartist. Some of the main ones are listed below.
While select brokers will offer Autochartist on all account types, it is more common that brokers offer Autochartist for free on limited account types.
Does Autochartist have a desktop app?
Autochartist can only be accessed by signing up with a broker. It can then be used via the broker’s app or web-based platform.
Autochartist vs TradingView
Traders can access TradingView independently of a broker by taking out a subscription. The cost ranges from free to US$59.95 per month. Other charting and analytical tools such as Trading Central and Autochartist can only be accessed via a broker’s platform. However, once you’ve joined the broker, you can then access the services provided by Trading Central and Autochartist for free.
One of the main advantages of TradingView over Autochartist is its ability to execute trades. 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. You can also place limit or stop orders directly from your charts.
The other advantage of TradingView is that you can interact with other traders, follow their ideas or even post your own ideas – an option that is not available on Autochartist.
How much does Autochartist cost?
It is not possible to access Autochartist as an individual investor. The service only works with professional trading desks and brokers, which include Autochartist in the subscription packages for their services.
How can I get Autochartist for free?
You can get Autochartist for free if you sign up with a broker or a site that has partnered with the company.
How do I connect a broker to Autochartist?
These are the steps, according to Autochartist:
- Open MetaTrader 5.
- Click on Tools in the menu item.
- Click Options.
- Click the Experts Advisors tab.
- Tick the box next to “Allow WebRequest for the listed URL:”.
- Double click on “add new URL” and paste or type: https://mt5.autochartist.com.
- Click OK.
Source: https://www.autochartist.com/metatrader-plugin/index_en.html
Forex Risk Disclaimer
Trading Forex and CFDs is not suitable for all investors as it carries a high degree of risk to your capital: 75-90% of retail investors lose money trading these products.
Forex and CFD transactions involve high risk due to the following factors: Over-leveraging, unpredictable market volatility, slippage arising from a lack of liquidity, inadequate trading knowledge or experience, and a lack of regulatory protection for clients.
Traders should not deposit any money that is not disposable. Regardless of how much research you have done, or how confident you are in your trade, there is always a substantial risk of loss. (Learn more from the FCA or from ASIC)
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Our State of the Market Report and Broker Directory are the results of extensive research on over 100 Forex brokers. The explicit goal of these resources is to help traders find the best Forex brokers – and steer them away from the worst ones – with the benefit of accurate and up-to-date information.
With over 150 data points on each broker and over 3000 hours of research and review writing, we believe we have succeeded in our goal.
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