What is Autochartist
Autochartist is a powerful pattern recognition tool available to all IG Index clients, which analyses the markets for signs of emerging trends and alerts you to potential dealing opportunities.
Chart pattern recognition theory has been widely used since the 1930s, and is regarded by many traders as a benchmark to gauge oversold or overbought levels in terms of market psychology.
Autochartist features
By automatically analysing the markets and flagging any emerging or completed patterns, Autochartist releases you from having to carry out the complex and time-consuming process of chart-analysis yourself.
The software is designed to suit the needs of both newcomers to chart analysis and experienced traders alike, combining an easy-to-use interface with a powerful range of sophisticated analysis tools.
You can quickly get started using the default settings, which cover the whole range of available markets and pattern types, or once you're more confident with the Autochartist system you can start defining custom search criteria, filtering for the type and quality of chart patterns or the particular areas of the markets which interest you.
Objective real-time analysis
Accessed through our PureDeal platform, Autochartist examines our index, forex, shares, energies and metals markets to identify a wide range of established technical patterns and Fibonacci patterns.
You receive an automatic alert within minutes of chart patterns forming, enabling you to react swiftly to market changes, while Autochartist's quality indicators provide you with objective analysis of a pattern's strength and other defining characteristics, allowing you to make informed, unsentimental decisions.
And once chart patterns have gone to completion, breakout strength or weakness indicators and projected forecast regions help you determine your next move.
Get started with Autochartist
You can find Autochartist within the PureDeal platform - simply follow the link from the Tools menu.
Our Chief Market Strategist David Jones has recorded an Autochartist online seminar to provide an introduction to Autochartist and demonstrate the software's customisable search facility.
Advanced chart analysis
You can also visit our series of in-depth guides to Autochartist, which help you get to grips with more technical aspects of the software and of pattern analysis in general, including pattern alerts, custom searches, and trending/non-trending patterns.