Chapter 2

THE AUTOCHARTIST INTERFACE

When you access Autochartist for the first time, the Autochartist interface will display information that has been loaded by default.



Our Favourites


Analysis Toolbar
- Contains search results for Chart and Fibonacci Patterns, as well as Key Levels

Event Impact Analysis


Performance Statistics Tab


Messaging & Alerts Tab (Market Reports)


Education & Resources Tab


Search Pane


Pattern Display: to enlarge pattern result click on display


Price Movement Pane: Volatility Analysis (PowerStats)


Sound Switch


Results Filter:
Chart Patterns: [Emerging / Complete]
Fibonacci Patterns:[Emerging / Complete]
Key Levels
: [Breakouts / Approaches]

Results Pane:
Active Trading Opportunities

Results Pane:

Expired Trading Opportunities


Our Favourites

Based on past performance, "Our Favourites" is a list of currently active trading opportunities with the highest probability of success. Every Autochartist opportunity is evaluated against past performance with respect to the pattern type, the instrument and the time of day it was identified.





Analysis Tab

Search for Chart Patterns; Fibonacci Patterns as well as Key Levels trade opportunities from the Trade Opportunities Tab. Use the results filter to refine your preferences by including or excluding some or all of the trade opportunities available.



Event Impact Analysis

This tool gives you a concise visual account of the actual impact previous economic events have had on particular currency pairs. Select the country and news event from the menu on the left, and the effect it had on the selected currency will display on the right.


Performance Statistics Tab

Here users can get direct access to detailed statistics on the overall accuracy of Autochartist for the preceding 6-month period, and specific statistics on how Autochartist performs on particular symbols, time granularities, patterns and directions.


Messaging & Alerts Tab (Market Reports)

Market Reports provide you with a technical outlook of the markets for the next 24 - 48 hours and are produced three times per day for markets such as Forex and Commodities, and once per day for stock exchanges such as Tokyo Stock Exchange, London Stock Exchange and New York Stock Exchange.

To subscribe, log into the Autochartist platform, click on ‘Alerts & Messaging’, enter your email address, select the market you want covered, select your language, and the time you want to get your report. Note: to ensure that you receive Market Reports please add alerts@autochartist.com to your address book or contact list.


Resources &Education

This pane provides access to education and product support documentation. As well as download and install instructions of Autochartist’s MT4 plugin.


Search Pane
The search pane contains a list of your defined searches. This list is populated with default searches when you login for the first time. Each search contains a set of criteria defined by you, and it specifies:

  • What symbols to include in the search by choosing from predefined groups such as exchanges or instrument types, or by selecting  individual symbols.

Advanced Search options where specific criteria can be chosen to filter and further refine search results.

The Advanced Search option caters for specific criteria that can be selected to filter and further refine search results.When new patterns or Key Levels are found, this icon  appears next to the search name, When you click on the  icon you are redirected to the relevant search results.

Alerts are cleared from this pane periodically as automatic updates occur. To refresh for new results click on the selected search in the Search Pane (G)

The information displayed in the Results Panes (L and M) are only from the highlighted search (the search name will be marked in green).

An existing search can be edited by clicking on the pencil icon (), or deleted by clicking on the ‘close’ icon ().

(Please refer to Chapter 3 “Creating and Editing a Search” for details on creating or editing a search.)


Pattern Display
The price graph, Key Level and illustrated pattern displayed in this pane represents the result that was selected in the Results Pane (L)



The following information can be seen on the Pattern Display area (H):
The date and time at which the pattern was identified is highlighted in a grey box (30/1 12:30). Completed patterns are displayed with a horizontal line representing the forecast level. The colour of the line is representative of the forecast direction of the pattern (green=up and red=down) and it is displayed with a directional arrow from the point of breakout to the forecast line.

The columns to the right of the price graph contains additional information about the pattern, such as direction, pattern type, identified time, quality (various indicators) and forecast price (completed patterns). For more information see ‘Results Pane’ L.



Price Movement Pane: Volatility Analysis (PowerStats)

The PowerStats toolkit provides traders with insight into the relative movement of all instruments. This is very helpful when formulating new trading plans, or refining and re-evaluating existing strategies. As an important feature of Autochartist, PowerStats helps traders to set stop loss and take profit levels, as well as helping to figure out risk and choosing the appropriate instruments to trade.

To access the PowerStats feature click on the ‘Volatility Analysis’ button.


A new screen will pop up with 3 tabs:

Price Range Forecast

The Price Range Forecast tab is used to get a view of probable ranges that price is most likely to move within over different periods/intervals. This allows traders to set take profit and stop loss levels that are realistic and based on the past six months of data for this particular instrument at this particular time of the week.

For more advanced users, these ranges are calculated as one standard deviation on either side, giving price a 68% probability of falling within the range by the end of the specified interval.








Movement Per Hour

Click to enlargeMany traders do not trade full time, so they have to plan ahead for the time of the day that they will be trading. The Movement Per Hour view gives an overview of what hours in the day sees more volatility in price movement for this particular instrument.

The trader can then decide whether to place trades during more volatile periods in the day, when risk is greater, but with bigger returns, or during less volatile times, when price movements are relatively smaller.







Movement Per Day

Click to enlargeVery similar to the Movement per Hour view, the Movement per Day view, indicates the weekdays on which more volatility can be expected. This view is aimed at informing the trader when certain structural aspects of some markets make trading on certain days more risky.














Sound Switch

Whenever new results are identified for any of the searches, the user is notified with a ‘blip-blip’ sound. This is particularly useful when continuing with other tasks while waiting for new trade opportunities to be identified.

Users are able to toggle the alert sound to on or off:



The component that Autochartist uses to play sound notifications does an automatic selection of HTML5 audio, native browser audio and Flash (if installed) to play the sound. Flash is most commonly used. Therefore, update Flash for your browser at: http://get.adobe.com/flashplayer/

Also ensure that the sound on your computer, as well as the application is switched on.


Results Filter




If the filter is not in view between the Pattern Display and the Results Pane then click on the link.

The Results Filter is a convenient way to select the types of trade opportunities that you may be interested in. For example, if you do not want to view emerging Fibonacci patterns, ensure that the appropriate checkbox is un-ticked. Results will appear or disappear from the Results Pane in real time as these checkboxes are ticked or un-ticked.






NOTE:
The Trading Opportunities Filter (or Results Filter) will be applied to any search that is highlighted in the Search Pane (G).




Results Pane: ACTIVE Trading Opportunities

The Active Trading Opportunities tab is the always selected and open when you log in. It continuously gets populated with all the latest results of the search highlighted in the Search Pane (G), that fall within the categories selected in the Results Filter (K).

Active trading opportunities are patterns in which there still can be traded. This means that the price is not moving away from the expected direction and target, and the pattern has not yet completed or reached its target. As soon as any of this changes, the result is moved to the ‘Expired Trading Opportunities’ tab (see below)

If this tab is not in view, simply click on it and it will come into view with the tab heading highlighted in dark grey



By default the first result is selected and highlighted in green.

For the sake of clarity and ease of use, results are highlighted in yellow when the mouse cursor hovers over them. Once clicked the pattern of the selected result will be displayed in the Pattern Display area and the result will be highlighted in green.

Information provided in the Results Pane for Active Trading Opportunities include:

  • Exchange,
  • Symbol,
  • The direction of the pattern,
  • Time interval of the bar chart,
  • The pattern name,
  • The time when the pattern was identified,
  • Pattern length in bars/candles,
  • Overall quality assigned to the pattern (arithmetic average of various different quality indicators),
  • Pattern type, indicating whether it is emerging or completed, or a breakout or approach,
  • Age in candles since the pattern was identified.

This list is sorted by age in candles, i.e. the number of candles/bars that formed after the pattern was identified. This method of sorting means that longer term patterns such as 1-day and 4-hour patterns will move down the list at a much slower rate than short term patterns (15 min, 30 min). It also means that the user can be assured that the “freshest” patterns will be listed first.

(See Chapter 4: “Emerging vs Complete Results” for a more in-depth explanation of the difference between completed and emerging patterns.)


Results Pane: EXPIRED Trading Opportunities

To view this pane click on the tab ‘Expired Trading Opportunities’ and it will be highlighted in dark grey. This pane lists all expired results for the search highlighted in the Search Pane (K).



A result expires as soon as an event occurs that makes the expected outcome either unlikely or impossible, or when the expectation was fulfilled and the target reached. Some examples of expired opportunities would be when price starts moving consistently away from the target level of a completed pattern, or when an emerging pattern completes (in this case the emerging pattern expires, but a new completed pattern opportunity will arise). See the examples below.

Click to enlarge

The information in this tab is displayed in exactly the same way as the information in the Active Trading Opportunities tab. For more information on how results are displayed, please see the preceding section (L).

 

 

 

DISClAIMER: The Autochartist service includes chart pattern identification in respect of foreign currencies, commodities, equities and stocks. There are potential risks relating to investing and trading. You must be aware of such risks and familiarize yourself in regard to such risks and to seek independent advice relating thereto. You should not trade with money that you cannot afford to lose. The Autochartist service and its content should not be construed as a solicitation to invest and/or trade. You should seek independent advice in this regard. Past performance is not indicative of future performance. No representation is being made that any results discussed within the service and its related media content will be achieved. All opinions, news, research, analyses, prices or other information is provided as general market commentary and not as investment advice. Autochartist, MDIO Software, their members, shareholders, employees, agents, representatives and resellers do not warrant the completeness, accuracy or timeliness of the information supplied, and they shall not be liable for any loss or damages, consequential or otherwise, which may arise from the use or reliance of the Autochartist service and its content.

For further support or information please visit www.autochartist.com or e-mail techsupport@autochartist.com