Interactive pattern recognition technology now available
IG Index, the UK’s leading financial spread betting firm, is now offering clients access to technical analysis with online automated pattern recognition technology from Autochartist. IG Index is the first spread betting firm to offer the Autochartist suite of analysis tools and the first spread betting company to offer the service on multiple asset classes, having previously only been available on foreign exchange.
The automated pattern recognition software will assist those already using technical analysis by making it easier to identify the patterns as they emerge, while the growing number of spread bettors wanting to learn more about this trading strategy also stand to benefit from this innovation.
David Jones, Chief Market Strategist at IG Index, commented:
“Technical analysis is frequently seen as one of the most popular methods used when deciding when to place a trade. Although terminology like head-and-shoulders formations, double tops and triangles may sound somewhat complex, solutions like Autochartist undoubtedly simplifies the process of recognising these patterns. Clients obviously still need to understand how to interpret these technical signals, but IG Index also provides a comprehensive education programme to help with this.”
Autochartist Business Development Director Enis Mehmet added:
“For Autochartist, this alliance signals our entry into the spread betting market. We are delighted to provide our ground breaking automated chart and Fibonacci pattern service to a firm of the stature of IG Index, a global leader and the largest spread betting firm in the world. We are looking forward to offering IG customers the latest in innovative technical analysis tools.”
Autochartist is available free of charge to all IG Index live clients and can be accessed directly from the PureDeal trading platform. Both emerging and complete patterns can be identified, while clients also have the ability to filter their pattern searches, stipulating factors such as the quality or duration of the pattern before it is validated.
Having pioneered financial spread betting in the 1970s, IG Index has always been at the forefront of industry innovation. In a recent study by Investment Trends, the company was judged to be the UK’s number-one financial spread betting provider.
About IG Index
IG Index is the world’s leading financial spread betting provider, offering clients the ability to spread bet on over 7000 shares listed on markets worldwide, along with indices, currencies, commodities and treasuries. Established in 1974, IG Index is part of IG Group (IGG.L), which employs in excess of 800 people and has offices in 10 countries worldwide. For further information please visit www.ig.com/uk or or call +44 (0) 20 7896 0011.